Godrej Consumer Products reported a 3.12% decline in consolidated net profit at Rs 394.88 crore in the first quarter ended June 2020 due to Covid-19 related disruptions in the market
Net sales (revenue) declined 12.2 per cent to Rs 2,132.69 crore against Rs 2,429.68 crore in the corresponding quarter of the previous fiscal.
High revenue decline resulting in weak operating leverage to result in 220 bps fall in operating profit margin
Jyothy Labs' Managing Director MR Jyothy said better hygiene habits were the need of the hour
The company continued to focus on volumes
Each of the two key segments, household insecticides and soap (around 75 per cent of domestic sales), reported a 7 per cent volume growth in Q2 versus a decline or muted volumes in the April-June qua
GCPL said its international business clocked net sales of Rs 1,144 crore, up 4 per cent
Though the stock currently trades at its five-year historical average, investors should await improvement in growth prospects, say analysts
As per the report, Godrej's total remuneration in FY19 stood at Rs 6.07 crore, down 20 per cent from the previous year
GCPL is launching its own incense sticks (neem-based mosquito repellent) and will enrich this portfolio over the next few months
GCPL has been registering better sales growth than many of its peers over the past two years
Former MD of RB India Akhil Chandra has joined GCPL as head of the Asean cluster
GCPL's volume growth in domestic sales of branded products stood at 5% in Q4
While the trend is likely to continue, the stock seems fairly valued for now