BUZZ-India's Godrej Consumer Products rises after upbeat Q1 update

Reuters
07/07
BUZZ-India's Godrej Consumer Products rises after upbeat Q1 update

** Shares of Godrej Consumer Products GOCP.NS rise as much as 6% to 1,264 rupees rupees

** FMCG co will deliver Q1 Y/Y India rev growth in high-single digits, consol rev growth in double-digits

** Goldman Sachs sees strong volumes, EBITDA growth over next 2–3 years, driven by a turnaround in the home insecticides and fabric care divisions, margin gains from lower input costs

** Macquarie expects 5% volume growth for co in Q1, EBITDA to rise 7% Y/Y

** Nomura sees recent softness in palm oil supporting co's Q/Q margin improvement from Q2

** Mean rating on stock is "buy"; median PT 1,394 rupees - data compiled by LSEG

** GOCP last up 4.7%, adding to YTD gains of 10.2%

(Reporting by Meenakshi Maidas in Bengaluru)

((meenakshi.maidas@thomsonreuters.com;))

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