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ICICI Securities Report
Godrej Consumer Products Ltd. under Sudhir Sitapati's leadership is targeting double-digit underlying volume growth over the medium term. . No ifs and buts. We like it. The presentation was jargon-free (a rarity in consumer staples!); it had measurable targets and granular build-up of growth.
Godrej Consumer's refreshed template includes-
focus on penetration-led growth,
focus on category development (we reckon the thought process is that cost of category development is lower than that of chasing market shares),
reducing complexity (can't agree more),
focus on core,
larger, impactful innovations with higher patience and staying power and
save (gross margins, discounts, overheads, non-media above the line) and invest (in media, sampling, talent, digital, automation, distribution).
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