Financials Godrej Consumer Products Limited

Equities

GODREJCP

INE102D01028

Personal Products

Market Closed - NSE India S.E. Other stock markets 07:43:47 2024-04-26 am EDT			5-day change	1st Jan Change
1,202 ^INR	+0.06%		+2.88%	+6.30%

Apr. 22	PREVIEW-India's consumer goods makers to see more delays in recovery	RE
Apr. 06	Godrej Consumer Products Limited Announces Resignation of Ndidi Nwuneli as Independent Director and Member of the Audit; Corporate Social Responsibility; and Environmental, Social and Governance Committee, Effective from May 1, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	701,206	532,473	746,057	764,175	990,122	1,229,941	-	-
Enterprise Value (EV) ¹	716,528	543,959	747,180	769,174	996,555	1,249,355	1,238,211	1,224,288
P/E ratio	30 x	35.6 x	43.4 x	42.8 x	58.1 x	63 x	50.5 x	43 x
Yield	1.36%	1.15%	-	-	-	0.71%	0.94%	1.13%
Capitalization / Revenue	6.8 x	5.37 x	6.76 x	6.22 x	7.44 x	8.67 x	7.88 x	7.12 x
EV / Revenue	6.95 x	5.49 x	6.77 x	6.27 x	7.48 x	8.81 x	7.94 x	7.09 x
EV / EBITDA	33.8 x	25.4 x	31.3 x	32.1 x	41 x	42.2 x	36 x	31.5 x
EV / FCF	47.1 x	37.9 x	40 x	65.5 x	51.6 x	56.7 x	55.1 x	46 x
FCF Yield	2.12%	2.64%	2.5%	1.53%	1.94%	1.76%	1.81%	2.18%
Price to Book	9.65 x	6.74 x	7.9 x	6.61 x	7.18 x	8.18 x	7.39 x	6.75 x
Nbr of stocks (in thousands)	1,022,166	1,022,316	1,022,486	1,022,581	1,022,695	1,022,820	-	-
Reference price ²	686.0	520.8	729.6	747.3	968.2	1,202	1,202	1,202
Announcement Date	5/3/19	5/13/20	5/11/21	5/19/22	5/10/23	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Marzo	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	103,143	99,108	110,286	122,765	133,160	141,865	156,011	172,799
EBITDA ¹	21,176	21,430	23,882	23,951	24,305	29,612	34,370	38,921
EBIT ¹	19,476	19,458	21,844	21,852	21,942	26,876	31,509	36,195
Operating Margin	18.88%	19.63%	19.81%	17.8%	16.48%	18.94%	20.2%	20.95%
Earnings before Tax (EBT) ¹	20,847	17,596	20,804	21,553	21,327	26,648	32,583	37,988
Net income ¹	23,415	14,966	17,208	17,834	17,025	19,707	24,473	28,625
Net margin	22.7%	15.1%	15.6%	14.53%	12.79%	13.89%	15.69%	16.57%
EPS ²	22.90	14.64	16.83	17.44	16.65	19.09	23.80	27.95
Free Cash Flow ¹	15,211	14,361	18,658	11,741	19,309	22,020	22,454	26,643
FCF margin	14.75%	14.49%	16.92%	9.56%	14.5%	15.52%	14.39%	15.42%
FCF Conversion (EBITDA)	71.83%	67.01%	78.12%	49.02%	79.45%	74.36%	65.33%	68.45%
FCF Conversion (Net income)	64.96%	95.96%	108.42%	65.84%	113.42%	111.73%	91.75%	93.08%
Dividend per Share ²	9.330	6.000	-	-	-	8.559	11.28	13.55
Announcement Date	5/3/19	5/13/20	5/11/21	5/19/22	5/10/23	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	30,554	27,307	28,944	31,636	33,026	29,158	31,250	33,919	35,989	32,002	34,489	35,809	36,974	33,728	-
EBITDA ¹	6,934	5,490	6,000	6,596	6,680	4,676	5,208	5,421	7,266	6,409	6,428	6,896	8,134	7,352	-
EBIT ¹	6,444	4,945	5,491	6,087	6,138	4,136	4,637	4,888	6,693	5,723	5,666	6,207	7,782	6,643	-
Operating Margin	21.09%	18.11%	18.97%	19.24%	18.59%	14.18%	14.84%	14.41%	18.6%	17.88%	16.43%	17.33%	21.05%	19.7%	-
Earnings before Tax (EBT)	6,420	4,244	5,409	6,056	6,248	3,840	4,544	4,577	6,651	5,555	4,799	5,887	7,076	6,962	-
Net income ¹	5,021	3,658	4,137	4,789	5,276	3,632	3,451	3,589	5,463	4,521	3,188	4,439	5,602	5,004	-
Net margin	16.43%	13.4%	14.29%	15.14%	15.98%	12.46%	11.04%	10.58%	15.18%	14.13%	9.24%	12.4%	15.15%	14.84%	-
EPS ²	4.910	3.580	4.050	4.680	5.160	3.550	3.370	3.510	5.340	4.420	3.120	4.285	5.505	5.638	-
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	-	4.990	-
Announcement Date	2/8/21	5/11/21	8/4/21	11/11/21	2/8/22	5/19/22	8/3/22	11/8/22	1/31/23	5/10/23	8/7/23	-	-	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	15,322	11,485	1,123	4,999	6,432	19,413	8,269	-
Net Cash position ¹	-	-	-	-	-	-	-	5,654
Leverage (Debt/EBITDA)	0.7236 x	0.5359 x	0.047 x	0.2087 x	0.2647 x	0.6556 x	0.2406 x	-
Free Cash Flow ¹	15,211	14,361	18,658	11,741	19,309	22,020	22,454	26,643
ROE (net income / shareholders' equity)	23.3%	21%	20.3%	17%	13.4%	13.6%	15.2%	16.3%
ROA (Net income/ Total Assets)	11.2%	10.9%	12%	11.7%	10.1%	11%	11.9%	12.9%
Assets ¹	208,620	137,176	143,139	152,085	168,164	178,786	204,901	221,377
Book Value Per Share ²	71.10	77.30	92.30	113.0	135.0	147.0	163.0	178.0
Cash Flow per Share ²	16.90	9.000	19.80	14.20	21.00	20.60	25.80	29.90
Capex ¹	2,077	1,520	1,639	2,765	2,197	3,916	3,728	3,724
Capex / Sales	2.01%	1.53%	1.49%	2.25%	1.65%	2.76%	2.39%	2.16%
Announcement Date	5/3/19	5/13/20	5/11/21	5/19/22	5/10/23	-	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Godrej Consumer Products Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,202 INR

Average target price

1,314 INR

Spread / Average Target

+9.27%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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COLGATE-PALMOLIVE (INDIA) LIMITED	+12.89%	9.31B

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