BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
We believe a good NPD strategy is an under-appreciated growth driver (in the long-term) for consumer staples – the benefit is far more than just a few points of extra growth (for a year).
A good NPD process, driven by top management, ensures (1) longevity – companies have to innovate to stay relevant in the long term, (2) expansion into adjacencies – highly DCF accretive, in our opinion.
While there are near-term risks of NPD failure (1) stock returns costs (can be minimised, though), and (2) (potential) conflict with trade channel, we believe the potential benefits far outweigh the costs.
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