Buy Godrej Consumer Products, target price Rs 975: Religare Broking

Religare Broking has buy call on Godrej Consumer Products with a target price of Rs 975. The current market price of Godrej Consumer Products is Rs 881.85.

Godrej Consumer Products Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 90298.67 Crore) operating in FMCG sector.

Godrej Consumer Products Ltd. key Products/Revenue Segments include Home Care, Personal Care, Hair Care, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 3431.79 Crore, up 8.86 % from last quarter Total Income of Rs 3152.49 Crore and up 7.70 % from last year same quarter Total Income of Rs 3186.29 Crore. Company reported net profit after tax of Rs 358.86 Crore in latest quarter.

Investment Rationale
Recent dip to major moving averages in Godrej Consumer offering fresh buying opportunity.

Promoter/FII Holdings
Promoters held 63.22 per cent stake in the company as of 30-Sep-2022, while FIIs owned 24.03 per cent, DIIs 6.46 per cent.