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Systematix Research Report
We attended Godrej Consumer Products Ltd.’s Indonesia business update call; key takeaways are:
the business is recovering from the second wave of Covid-19 and a difficult macroeconomic environment,
the company remains focused on driving democratisation and premiumisation across its portfolio in the region and
it is expanding direct coverage through the general trade channel.
The management expects the Indonesia business to deliver double-digit growth on an organic basis in the medium to long term.
While Godrej Consumer has all the elements to deliver sustainable long term shareholder , the current valuations seem rich at 47.4 times FY23E earnings per share.
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