Godrej Consumer Products Limited (GODREJCP)
Large CapFMCG stocks · Large cap · NSE
Godrej Consumer Products Limited (GCPL) is an Indian consumer goods company focused on health and beauty products in emerging markets. Its strategy involves category development, portfolio transformation, and an operating philosophy of 'Less is more; Much less is much more'.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Average · 52/100margin compression · Rev +15% YoY · PAT +12% YoY · +8% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4,225 Cr | +15.4% | +8.3% |
| EBITDA | ₹801 Cr | +15.3% | -4.8% |
| Operating margin | 19.0% | +0 bps | -300 bps |
| PAT | ₹505 Cr | +11.7% | +11.7% |
| PAT margin | 11.9% | -39 bps | +36 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Q4 FY2026 sees consolidated revenue up 11% and EBITDA up 10%, driven by strong standalone performance. Standalone UVG was 7%, with Home Care leading growth. International segments showed mixed results, with Indonesia facing pricing pressure and Latin America impacted by one-time costs.
While standalone business delivered solid growth and margin expansion, international segments, particularly Indonesia and Latin America, show signs of stress. The accounting change for customer-related spends impacts revenue presentation, requiring careful re-evaluation of historical growth trends.
Q4 FY2026 Net Sales by Geography
Latest issuer-disclosed distribution across 4 reported categories.
Standalone Home Care
Delivered double-digit sales growth (12% YoY) led by Household Insecticides, Air Fresheners, and Fabric Care.
Household Insecticides (Standalone)
Electrics delivered strong growth and gained market share; Incense sticks scaled up strongly.
Air Fresheners (Standalone)
Continued strong double-digit growth momentum across formats, gaining market share and leadership.
Hair Fashion (Africa, USA & Middle East)
Continued strong performance across key markets.
Godrej Spic Toilet Cleaner
Scaled up to pan-India post robust results in Tamil Nadu, targeting a ~3K crore category.
KS99 Perfumes & Deodorants
Delivered strong performance and scaled up pan-India.
Improving Affordability
Soaps continue positive trajectory led by improving affordability post GST reduction.
Indonesia Pricing Pressure
Pricing pressure largely bottomed out; early signs of stabilisation.
Latin America & Others One-time Costs
EBITDA growth impacted by one-time costs.
Indonesia Distribution Arrangement Change
Sales growth includes impact of change in distribution arrangement (-2%).
Accounting Policy Change
New EAC opinion from ICAI requires reclassification of certain customer-related spends as reduction from revenue, impacting reported sales.
International Operating Conditions
Indonesia expects operating conditions to improve from FY27, indicating current challenges.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The investor presentation primarily reports financial performance and growth metrics on a year-on-year basis, which is standard for assessing performance in a consumer goods business with potential seasonality.
Consolidated Underlying Volume Growth (UVG)
6% YoY
Standalone Organic UVG
7% YoY
Consolidated Net Sales Growth
11% YoY
Standalone Net Sales Growth
10% YoY
Indonesia Outlook
Expect operating conditions to improve from FY27.
ESG Commitments
Committed to internal Scope 1 and 2 Net-zero by 2035, aligned with SBTi.
Sustainable Consumption
Completed community waste management projects in 5 municipalities in FY26, diverting 23,390 MT waste.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Indonesia Operating Conditions | Early signs of stabilisation, pricing pressure largely bottomed out. | Sustained improvement in operating conditions and sales growth from FY27. |
| Standalone Personal Care Growth | 3% YoY sales growth, with focus on upgrading consumers to handwash, bodywash, facewash. | Acceleration in Personal Care growth, especially premium formats, to match Home Care momentum. |
| Impact of Accounting Change | Reclassification impacts revenue from operations and certain ratios, but not EBITDA or PAT. | Clarity on the full impact of the accounting change on reported revenue trends and investor perception. |
| Africa, USA & Middle East Profitability | Strong topline growth (20%) but EBITDA growth only 2% due to doubling media spends. | Improved EBITDA growth as media spends normalize or drive higher leverage. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
29Bearishfull bear SMA stack · SMA20 -12.8% / mo · RSI oversold · MACD − · near 52W low
Technical chart
GODREJCPdaily · 1Y · AUTO-22.5%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 25.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~14.6% over last month) — short-term momentum negative.
- RSI(14) at 25 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 16.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.3%.
- Both 3-month and 6-month returns are negative.
Valuation & score drivers
U-Score 36 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 36 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
WATCHLISTWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 10/15 to the score.
- Quality contributes 10/20 to the score.
Main drags
- Fair-value margin of safety is negative at -379.4%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Growth is weaker at 6/25; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 30th percentile within FMCG. No major sub-score weakness stands out.
Healthy Trust Lite: Promoter pledge is zero.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · FMCG: 30th pctile, median 78 · Large: 51st pctile, median 73
91 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸7 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 3%.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 43.30
- P/B
- 7.08
- EV/EBITDA
- 26.63
- Market Cap
- 89846.00Cr
Profitability
- ROE
- 16.10%
- ROCE
- 18.80%
- ROA
- 8.89%
- Dividend Y
- 2.28%
Growth (CAGR)
- Revenue 5Y
- 7.00%
- EPS 5Y
- 3.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- 5.00%
Balance Sheet
- Debt/Equity
- 0.35
- Interest Coverage
- 9.84×
- Altman Z
- 8.33
- Book Value
- 124.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 7/5
- OCF
- 2488.00 Cr
- EPS TTM
- 18.71
Shareholding
- Promoter Hold
- 53.06%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 4%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
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Peers
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