Godrej Consumer Q4 Review - Jigsaw Falling In Place: ICICI Securities
Godrej Consumer’s line up of household insecticides products. (Photograph: BloombergQuint)

Godrej Consumer Q4 Review - Jigsaw Falling In Place: ICICI Securities

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

Q4 FY21 performance was impressive with 24% domestic revenue growth in January-February 2021, continued profitable recovery in Africa while Indonesia stabilised.

India growth was driven by soaps (gaining market shares in an inflationary environment) and household insecticide (broad based across formats) while hair colour continued recovery (with category uptick).

Africa sales grew 36% (constant currency terms) and margins expanded (to 11%; up 710 basis points) driven by scale and cost saving initiatives.

Indonesia grew just 4% (constant currency terms) due to weak macros and price competition in wipes category.

Click on the attachment to read the full report:

ICICI Securities Godrej Consumer Products Q4 FY21 Result Update.pdf

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