Godrej Consumer Sees Q4 Volume Growth In High Single-Digits, Drives Shares To Record
The company expect to deliver underlying volume growth of high single-digit and sales growth of mid-single digit driven largely by currency volatility, according to an exchange filing.
Godrej Consumer Products Ltd. shares gained to hit a fresh high on Monday after it expects high single-digit underlying volume growth.
The company expects to deliver underlying volume growth of high single-digit and sales growth of mid-single digit driven largely by currency volatility, according to an exchange filing.
"Ebitda (incl. forex) margin continues to expand year-on-year despite increased media investments. Reported underlying volume growth is expected to be in double-digit," the company said in it filing.
The India organic business continued to deliver strong underlying volume growth with growth being broad-based across both home care and personal care, the filing said.
Independent Director, Ndidi Nwuneli, tendered her resignation with effect from close of May 1, 2024, the company said in a separate filing to the exchanges.
Shares of the company rose as much as 4.84% before paring gains to trade 3.21% higher, compared to a 0.44% advance in the benchmark Nifty 50 as of 10:20 a.m.
The stock has risen 112.08% in the last 12 months. Total traded volume so far in the day stood at 5.5 times its 30-day average. The relative strength index was at 68.
Of the 19 analysts tracking the company, seven maintain a 'buy', five recommend a 'hold' and seven suggest a 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential downside of 17%.
