Godrej Consumer Products shares decline over 2% amid mixed performance across global operations in Q1

GCPL share price NSE, Godrej Consumer Products Q1 business update: Godrej Consumer Products Limited (GCPL) shares started Tuesday’s session (July 9) on a positive note after the company’s Q1 business update was released post market hours on the previous day.

After gaining as much as 1.5 per cent at the open, shares of the personal care company trended lower to Rs 1,414, down over 0.8 per cent. At the day’s low, the stock slumped over 2 per cent to Rs 1395.60 as against the previous closing price of Rs 1425.80.

In the quarter ended June, the company logged high-single digit organic volume growth in its domestic business. The growth was broad-based across both Home Care and Personal Care. Demand in Household Insecticides had been soft for earlier parts of the quarter due to extreme heat waves across the country, said the company in its filing.

In value terms, the company’s India business recorded mid-single digit value growth in the reporting quarter.

How do brokerages view GCPL stock post its recent update?

Goldman Sachs has suggested a ‘buy’ on the stock with the target raised to Rs 1,500 from the earlier Rs 1,475 per share. As per the brokerage, the company continues to log industry-leading volume growth. Furthermore, the brokerage has slashed FY25/26 estimates by 1-2 per cent driven by currency depreciation. The new pegged target implies an upside of over 5 per cent.

Macquarie maintained a ‘neutral’ call on Godrej Consumer with a target of Rs 1,220, implying downside potential of over 14 per cent.