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The stock of Godrej Consumer Products Limited (GCPL) fell about 3.7 per cent in trade after its Q3FY24 earnings disappointed brokerages and led to downgrades.
Further, the stock, after a 15 per cent run-up over the past month prior to Monday s correction, had already factored in the upside from the business front.
Its peer in the consumer space, Marico, too, saw a 4 per cent drop in its stock price. ....
There is no near-term respite for the country s largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front.
With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits.
The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well. ....
Irregular rainfall and a pick-up in commodity costs are expected to weigh on the demand and margins of fast-moving consumer goods (FMCG) companies.
Most companies reported a sharp expansion in gross margins in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), given the lower prices of key raw materials and earlier price hikes.
Furthermore, there were expectations that cost savings being passed on could reflect in volume growth going forward.
However, these hopes could be dashed if demand recovery, especially in the rural segment, stalls, and gains on the raw material front start to recede. ....
Colgate’s strategic pillars include leading the toothpaste category through volumes; driving premiumization through science-based superior innovation; leading category growth in toothbrushes and devices, and building a strong portfolio in personal care through Palmolive. ....