Godrej Consumer Products’ Africa Business Update: ICICI Securities
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ICICI Securities Report
Interaction with the management of Godrej Consumer Products Ltd. provided much needed clarity and insights around the company’s Africa turnaround strategy. We like -
1. focus on larger geographies and larger segments within categories (driving size and eventually scale),
2. focus on improving go-to-market execution,
3. centralised category construct (ala multi-national companies) to drive cross pollination of marketing strategies (even more) efficiently,
4. building the company as an employer brand in Africa,
5. the recent entry / listing in Wal-Mart.
The company is targeting double-digit revenue growth and mid-teens Ebitda margins for the region.
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