Date - 17/07/2020
Source - Moneycontrol
While COVID-19 provides an
opportunity for a turnaround, the company needs better execution for it, the
brokerage has said.
Godrej Consumer Products share price climbed about 2
percent in the morning trade on BSE on July 17 after global brokerage firm CLSA
maintained 'outperform' call on the stock with a target price of Rs 715.
As per CNBC-TV18, CLSA
expects Godrej Consumer's sales and earnings CAGR at 8 percent and 13 percent
during FY20-23.
While COVID-19 offered an
opportunity for the turnaround, the company needed better execution, CLSA said.
Godrej Consumer Products has extended its hygiene portfolio to
cover personal, home, and kitchen categories to cater to the increasing demand
for these products amid the coronavirus outbreak
The company has launched 14 products, including soaps, face
masks, fruit veggie wash and dish wash, under three broad hygiene categories.
After manufacturing its first
soap in 1918 during the Spanish Flu pandemic, becoming the first firm in the
world to produce soap using vegetable oil instead of animal fat, Godrej
Consumer Products is looking at 2020 as its "second beginning",
company's executive chairperson Nisaba Godrej has said.
Godrej described COVID-19
pandemic as "health, humanitarian and economic crisis of epic proportions
to contend with" for which the business would "need to do more of
what we do and do it even better" while addressing shareholders in the
annual report for 2019-20.
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