Godrej Consumer Products
Godrej Consumer Products
Consumer Goods F&OKey Fundamentals
MidcapPersonal CareConsumer GoodsTapetide Score
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Key Insights
Weaknesses
3- The company has delivered a poor sales growth of 6.60% over past five years.
- Company has a low return on equity of 13.8% over last 3 years.
- Promoter holding has decreased over last 3 years: -10.2%
Growth Rate
AI Analysis — Bull vs Bear
Godrej Consumer Products has a market capitalisation of about ₹89,324 crore and trades at a P/E of 46.8x and a P/B of 7.08x, with a dividend yield of 1.14%. Growth has picked up recently, with TTM sales and profit both up 9%, but longer-term growth has been slower (3-year sales CAGR of 4%, 5-year profit CAGR of 3%) and 3-year ROE averages 14%. The stock has fallen 24% over the past year and shows negative 3-year (-4%) and 5-year (-3%) CAGRs.
- TTM sales growth of 9% is more than double the 3-year sales CAGR of 4%, which suggests revenue momentum has picked up recently.
- TTM profit growth of 9% is well above the 5-year profit CAGR of 3%, which suggests earnings growth is recovering after a weak stretch.
- Last year's ROE of 16% is above the 3-year and 5-year averages of 14%, which suggests capital efficiency is improving.
- The 10-year average ROE of 18% shows the business has produced higher returns before, so a return toward those levels is possible if growth keeps recovering.
- A market capitalisation of about ₹89,324 crore makes it one of the larger listed Indian FMCG companies, backed by established brands in household insecticides and personal care, which can support pricing power and distribution reach.
- After a 24% fall over the past year, the stock has partly de-rated, and the 9% TTM earnings growth has run ahead of the share price.
- A dividend yield of 1.14% provides some cash return while holding the stock.
- A P/E of 46.8x is high compared with the 5-year profit CAGR of 3% and even the 9% TTM profit growth, so the valuation depends on growth continuing to speed up.
- The stock trades at 7.08x book value while 3-year ROE is only about 13.8–14%, which is a steep premium for that level of return on equity.
- Sales growth has been weak over longer periods: about 6.6–7% CAGR over 5 years, 4% over 3 years and 6% over 10 years. That is modest for a consumer staples company.
- The 5-year profit CAGR of 3% trails the 5-year sales CAGR of 7%, which points to margin pressure or lower profitability in parts of the business.
- The 3-year average ROE of 13.8% is well below the 10-year average of 18%, showing a structural drop in return on capital.
- Promoter holding fell by 10.2 percentage points over the last 3 years, which may worry investors who watch insider ownership.
- Share price performance has been poor: -24% over 1 year, -4% CAGR over 3 years, -3% CAGR over 5 years and only 5% CAGR over 10 years.
- A dividend yield of 1.14% offers little income cushion against a 46.8x earnings multiple if growth disappoints.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Double-digit volume growth targeted Sep 7
In a management interview, Godrej Consumer said it is aiming for double-digit volume growth and revenue growth in the high teens. These are management targets, not reported results.
- Aasif Malbari named MD & CEO Sep 7
GCPL is seeking shareholder approval to appoint Aasif Malbari as Managing Director and CEO for five years, effective August 12, 2026. The postal ballot opens on September 8.
- Promoter stake reshuffle via block deal Sep 26
On September 24, 2026, Godrej Industries sold 51.15 lakh shares (0.50%) in a block deal, and promoter-group individuals bought 1.02 crore shares worth ₹891.76 crore, lifting Nadir Godrej's direct stake nearly 24-fold to 53.40 lakh shares. Total promoter holding stays at 53.05%, and the SEBI SAST Regulation 29(2) disclosure confirms this was an internal reallocation within the family.
TL;DR: The news flow for GCPL is mildly positive: management is targeting double-digit volume growth and high-teens revenue growth, and a new MD & CEO has been named for a five-year term. The promoter block deal only moved shares within the Godrej family, so it doesn't signal a promoter exit, and holding stays at 53.05%. The main risks are execution against ambitious targets that haven't yet shown up in reported numbers, plus a normal leadership-transition period under Malbari. The trend looks stable to improving, and the next quarterly results will show whether the growth targets are on track.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,449 | 3,602 | 3,660 | 3,386 | 3,332 | 3,666 | 3,768 | 3,514 | 3,662 | 3,825 | 3,998 | 3,900 | 4,225 |
| Expenses | 2,806 | 2,898 | 2,819 | 2,630 | 2,607 | 2,907 | 3,012 | 2,755 | 2,967 | 3,092 | 3,118 | 3,059 | 3,424 |
| Operating Profit | 643 | 704 | 841 | 756 | 724 | 760 | 756 | 759 | 695 | 733 | 880 | 841 | 801 |
| OPM % | 19% | 20% | 23% | 22% | 22% | 21% | 20% | 22% | 19% | 19% | 22% | 22% | 19% |
| Other Income | -13 | 53 | 63 | -2,312 | 57 | 80 | 77 | 42 | 65 | 33 | -35 | -24 | 36 |
| Interest | 74 | 77 | 67 | 78 | 88 | 83 | 90 | 90 | 86 | 76 | 79 | 90 | 86 |
| Depreciation | 76 | 61 | 54 | 50 | 49 | 50 | 62 | 73 | 59 | 66 | 66 | 76 | 75 |
| PBT | 480 | 619 | 783 | -1,684 | 644 | 707 | 682 | 639 | 614 | 625 | 700 | 651 | 677 |
| Tax % | 34% | 30% | 26% | 12% | 30% | 30% | 27% | 36% | 26% | 27% | 29% | 31% | 25% |
| Net Profit | 319 | 433 | 581 | -1,893 | 451 | 491 | 498 | 412 | 452 | 459 | 498 | 452 | 505 |
| EPS in Rs | 3.12 | 4.23 | 5.68 | -18.51 | 4.41 | 4.8 | 4.87 | 4.03 | 4.42 | 4.49 | 4.87 | 4.42 | 4.93 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 8,273 | 8,424 | 9,268 | 9,847 | 10,314 | 9,911 | 11,029 | 12,276 | 13,316 | 14,096 | 13,997 | 15,178 | 15,949 |
| Expenses | 6,894 | 6,766 | 7,361 | 7,763 | 8,183 | 7,757 | 8,629 | 9,867 | 10,873 | 11,139 | 10,982 | 12,009 | 12,692 |
| Operating Profit | 1,379 | 1,657 | 1,907 | 2,084 | 2,132 | 2,154 | 2,399 | 2,409 | 2,443 | 2,957 | 3,015 | 3,169 | 3,257 |
| OPM % | 17% | 20% | 21% | 21% | 21% | 22% | 22% | 20% | 18% | 21% | 22% | 21% | 20% |
| Other Income | 73 | -262 | 76 | 283 | 362 | 32 | 23 | 78 | 114 | -2,209 | 252 | 33 | 11 |
| Interest | 112 | 128 | 154 | 173 | 238 | 228 | 138 | 122 | 188 | 310 | 361 | 344 | 331 |
| Depreciation | 91 | 101 | 142 | 156 | 170 | 197 | 204 | 210 | 236 | 241 | 234 | 268 | 283 |
| PBT | 1,249 | 1,167 | 1,687 | 2,039 | 2,085 | 1,760 | 2,080 | 2,155 | 2,133 | 198 | 2,672 | 2,590 | 2,653 |
| Tax % | 22% | 29% | 22% | 20% | -12% | 15% | 17% | 17% | 20% | 383% | 31% | 28% | — |
| Net Profit | 976 | 831 | 1,308 | 1,634 | 2,342 | 1,497 | 1,721 | 1,783 | 1,702 | -561 | 1,852 | 1,861 | 1,914 |
| EPS in Rs | 8.88 | 8.1 | 12.76 | 15.99 | 22.91 | 14.64 | 16.83 | 17.44 | 16.65 | -5.48 | 18.11 | 18.19 | 18.71 |
| Div. Payout % | 21% | 24% | 39% | 42% | 44% | 55% | 0% | 0% | 0% | -274% | 138% | 110% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 34 | 34 | 34 | 68 | 102 | 102 | 102 | 102 | 102 | 102 | 102 | 102 |
| Reserves | 4,277 | 4,233 | 5,268 | 6,190 | 7,165 | 7,796 | 9,337 | 11,454 | 13,692 | 12,496 | 11,897 | 12,546 |
| Borrowings | 2,717 | 2,891 | 4,001 | 3,508 | 3,382 | 3,575 | 1,864 | 1,704 | 1,130 | 3,222 | 4,009 | 4,421 |
| Other Liabilities | 2,097 | 2,521 | 3,637 | 4,098 | 3,445 | 3,407 | 2,941 | 2,822 | 2,513 | 2,571 | 3,289 | 3,873 |
| Total Liabilities | 9,125 | 9,679 | 12,940 | 13,864 | 14,094 | 14,880 | 14,244 | 16,082 | 17,437 | 18,392 | 19,298 | 20,942 |
| Fixed Assets | 5,551 | 5,931 | 8,083 | 8,315 | 8,670 | 9,231 | 8,905 | 9,219 | 9,934 | 10,440 | 10,676 | 12,556 |
| CWIP | 225 | 44 | 97 | 84 | 52 | 57 | 57 | 116 | 45 | 83 | 464 | 229 |
| Investments | 186 | 190 | 934 | 997 | 516 | 672 | 679 | 1,015 | 3,029 | 3,504 | 3,645 | 2,767 |
| Other Assets | 3,164 | 3,514 | 3,826 | 4,468 | 4,855 | 4,920 | 4,602 | 5,731 | 4,429 | 4,365 | 4,513 | 5,390 |
| Total Assets | 9,125 | 9,679 | 12,940 | 13,864 | 14,094 | 14,880 | 14,244 | 16,082 | 17,437 | 18,392 | 19,298 | 20,942 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 1,027 | 847 | 1,860 | 1,723 | 1,729 | 1,588 | 2,030 | 1,451 | 2,151 | 2,070 | 2,577 | 2,488 |
| Investing | -1,236 | -622 | -2,243 | -336 | 274 | -552 | -292 | -844 | -1,754 | -3,431 | -343 | 421 |
| Financing | -12 | -202 | 665 | -1,384 | -2,039 | -1,295 | -1,816 | -380 | -794 | 1,406 | -2,181 | -2,388 |
| Net Cash Flow | -221 | 23 | 282 | 3 | -36 | -259 | -79 | 227 | -398 | 45 | 52 | 522 |
| Free Cash Flow | 814 | 639 | 1,680 | 1,412 | 1,521 | 1,436 | 1,866 | 1,453 | 2,158 | 1,793 | 2,018 | 1,946 |
| CFO/OP | 93 | 71 | 119 | 102 | 102 | 90 | 101 | 79 | 105 | 83 | 101 | 95 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 36 | 48 | 41 | 46 | 46 | 43 | 33 | 33 | 34 | 40 | 47 | 44 |
| Inventory Days | 102 | 123 | 125 | 135 | 125 | 146 | 127 | 128 | 84 | 73 | 79 | 82 |
| Days Payable | 103 | 140 | 152 | 201 | 204 | 212 | 149 | 130 | 99 | 97 | 120 | 114 |
| Cash Conversion Cycle | 34 | 32 | 13 | -20 | -33 | -24 | 11 | 31 | 19 | 16 | 7 | 12 |
| Working Capital Days | -25 | -6 | -22 | -31 | -20 | -42 | -33 | -7 | -2 | -60 | -83 | -85 |
| ROCE % | 20% | 23% | 22% | 21% | 20% | 19% | 20% | 19% | 17% | 19% | 19% | 19% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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Documents
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Company Information
Godrej Consumer Products is engaged in a fast moving consumer goods Company, manufacturing and marketing Household and Personal Care products.[1]
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