Muted Q3 sales, stock rally limit upsides in Godrej Consumer Products

The company remains optimistic about a gradual uptick in consumption trends over the next calendar year

The stock of Godrej Consumer Products fell about 3.7 per cent in trade after its Q3FY24 update disappointed brokerages and led to downgrades. The stock also after a 15 per cent run up over the past month prior to Monday’s correction had already factored in the upsides from the business front. Its peer in the consumer space, Marico, too, saw a 4 per cent drop in its stock price.

Marico indicated that consolidated sales would decline by low single digits given pricing corrections in key domestic portfolios and significant currency depreciation in select overseas geographies. Brokerages were working