GODREJCP
Large CapGodrej Consumer Products Limited
Consumer
Godrej Consumer Products Limited (GCPL) is an Indian FMCG company with a portfolio spanning Home Care (household insecticide, air fresheners, fabric care) and Personal Care (soaps, hair color, perfumes & deodorants). It operates in India, Indonesia, Africa, USA, Middle East, and Latin America.
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 31 Mar 2026
Bad · 22/100margin compression · Rev +11% YoY · PAT +10% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,900 Cr | +11.0% | -2.5% |
| EBITDA | ₹841 Cr | +10.8% | -4.4% |
| Operating margin | 22.0% | +0 bps | +0 bps |
| PAT | ₹452 Cr | +9.7% | -9.2% |
| PAT margin | 11.6% | -13 bps | -87 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Q4 FY26 saw strong broad-based performance with consolidated revenue up 11% (6% volume growth) and EBITDA up 10%. India business delivered 8% volume and 10% sales growth, with Home Care leading at 12% value growth. International businesses also showed momentum.
GCPL delivered strong Q4 volume and revenue growth, driven by India Home Care and Africa. Management expects Indonesia to improve and sees long-term potential in new categories. Near-term margin pressure from crude and palm oil inflation is anticipated, but management expects to mitigate this through calibrated pricing and market share gains. The underlying growth story appears intact despite cost headwinds.
India Home Care
Home Care delivered 12% value growth with strong momentum across household insecticide, air fresheners and fabric care and consistent market share gains.
Africa, U.S.A. and Middle East Business
delivered another strong quarter with top line growth of 20%... driven by FMCG, especially air care.
Perfume & Deodorants (India)
Perfume & Deodorants delivered strong double-digit growth led by perfumes, with KS99, now scaled pan-India.
Fabric Care (Godrej fab)
Our ARR is about on GSV terms, about INR500 crores in quarter 4... a very, very fast tailed brand.
Pet Food Plant
We've set up a state-of-the-art plant in Nasik, and we've shipped our volumes from there.
Improving Demand Trends (India)
Our India business is well placed to deliver continued calibrated growth as normative EBITDA margins, supported by improving demand trends.
Abating Pricing Pressure (Indonesia)
In Indonesia, we expect a meaningful step-up in performance as pricing pressure abates.
Local Competitor Pressure (HI, Laundry)
in certain categories like laundry and household insecticide, a lot of pressure on locals [due to rising middle distillate prices].
GST Impact on Consumer Sentiment
the overall consumer sentiment certainly seems to have improved after GST, and that is benefiting a lot of discretionary categories.
Crude Oil Price Inflation
I expect some pressure on EBITDA percentage margin... if this oil remains at 100, 110.
Palm Oil Price Inflation
Palm has gone from 4,000 MYR to about 4,500 MYR, which is a 10%, 11% increase in palm.
Seasonal Impact on HI
summer Q1 is typically a small quarter for HI. So yes, it's possible that the HI numbers aren't as great as they should be.
Sustained High Crude Oil Prices
if this oil remains USD100 to USD110, that's what we expect and that to for a few months... it may take 3 to 4 months again, of a little bit of a dip in percentage margins.
Muted Soaps Volume Growth
Bulk of our personal care businesses is soaps and then market sectors are muted despite GST... a somewhat muted quarter only on our presence business.
El Nino Impact on Monsoons
if the predictions of El Nino are right, there will be impact and Q1 will be a difficult quarter for HI... general consumption, if monsoons are poor, I don't know how Q4 will be.
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 transcript consistently refers to year-on-year growth for financial metrics and volume, indicating it's the standard comparison for performance evaluation.
Consolidated Revenue Growth (INR)
In Q4, at a consolidated level, revenues grew 11% in INR terms.
Consolidated Underlying Volume Growth
on the back of 6% underlying volume growth.
India Business Underlying Volume Growth
Our standalone business delivered an excellent quarter, driven by 8% underlying volume growth.
India Business Sales Growth
and 10% sales growth.
Expectation of Improved Indonesia Performance
In Indonesia, we expect a meaningful step-up in performance as pricing pressure abates and our Africa, U.S. and Middle East business continues to deliver on its stated objective of double-digit revenue and profit growth over the medium term.
Africa Business Transformation
Our Africa business now is looking more and more like a conventional FMCG business to us.
Pet Food Category Potential
we do feel that this is a category that has a good odd for us to really become a big business in a few years' time.
Household Insecticide Problem Behind
we do feel that the household insecticide problem that plagued us for 10 years is probably behind us.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Consolidated EBITDA Margin | operating margin at 21.7% | expect some pressure on EBITDA percentage margin... for a few months |
| Indonesia Volume Growth | 4% volume growth | In a steady state, if we can do 5% to 6% volume growth in Indonesia |
| Personal Care Growth (India) | Personal Care grew 3% | I do expect this personal performance to improve... this 3 can go to 7, 8. |
| Godrej fab Annualized Sales Value (NSV) | maybe INR450 crores in NSV terms | good solid path to profitability on fab... sky is the limit. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
42NeutralSMA20 -10.6% / mo · near 52W low
Technical chart
GODREJCPweekly · 6M-12.2%Technical trend read
Bullish setupTrend is constructive — long-term trend unclear. RSI 43.
- RSI(14) at 43 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish 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.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
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 11/15 to the score.
- Quality contributes 11/20 to the score.
Main drags
- Fair-value margin of safety is negative at -418.7%.
- Valuation is weaker at 2/30; 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
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 73rd percentile of the scored universe and 73rd percentile within Consumer. 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 · Consumer: 73rd pctile, median 67 · Large: 50th pctile, median 74
116 documents indexed, 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.
Intrinsic value
Fundamentals
Valuation
- P/E
- 50.20
- P/B
- 8.04
- EV/EBITDA
- 31.07
- Market Cap
- 101951.00Cr
Profitability
- ROE
- 16.50%
- ROCE
- 19.10%
- ROA
- 8.72%
- Dividend Y
- 2.01%
Growth (CAGR)
- Revenue 5Y
- 7.00%
- EPS 5Y
- 3.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- 6.00%
Balance Sheet
- Debt/Equity
- 0.35
- Interest Coverage
- 9.51×
- Altman Z
- 8.24
- Book Value
- 124.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 7/5
- OCF
- 2488.00 Cr
- EPS TTM
- 18.19
Shareholding
- Promoter Hold
- 53.06%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 9%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.