Godrej Consumer Products Q1 Review - On The Right Track: Systematix
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Systematix Research Report
Godrej Consumer Products Ltd.'s Q1 FY22 results were slightly above our estimates.
India business performance was robust with domestic volume growth of 15% YoY (versus estimate of 12% YoY).
Godrej Consumer mitigated a large part of raw material inflation through operating leverage and cost-efficiency measures.
It has initiated price hikes to offset the impact of raw material inflation in the coming quarter.
Continued strong performance in the Africa business (two-year compound quarterly growth rate of 11%) and recovery signs in the Indonesia business in July were the positive takeaways.
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