Equity Snap: Godrej Consumer Products (GCPL IN) Q1FY27 sales update– strong revenue print; EBITDA growth along our expectations

研报英文原文证据摘录

Equity Snap: Godrej Consumer Products (GCPL IN) Q1FY27 sales update– strong revenue print; EBITDA growth along our expectations

3 July 2026

Equity Snap: Godrej Consumer Equities Personal Products

Products (GCPL IN)

Q1FY27 sales update– strong revenue print; EBITDA

growth along our expectations India

◆ Q1FY27 update – expects high-teens consolidated revenue Nihal Mahesh Jham*, CFA

(HSBCe: 9%) and DD EBITDA growth (HSBCe: 16%) SeniorHSBC SecuritiesAnalyst, Indiaand CapitalConsumerMarkets& Retail(India) Private

Limited

◆ Also gave a positive highlight on its FY27 outlook nihal.m.jham@hsbc.co.in

+91 22 66283771

Pratik Gothi*

Godrej Consumer Products (GCPL IN, INR1076.90, Buy, TP INR1250.00) Analyst, India Consumer & Retail

(Priced as of 03 Jul 2026) HSBC Securities and Capital Markets (India) Private

pratik.gothi@hsbc.co.in

GCPL released its Q1FY27 update, below are the key highlights: +91 80 6737 3929

◆ Consolidated level, company expects to deliver high-teens revenue growth (vs

just double-digit guidance) and EBITDA too will grow ahead of the guided * Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is not registered/ qualified pursuant to FINRA regulations

double-digits although margins would be lower yoy as expected.

◆ Standalone business is expected to deliver double-digit underlying sales growth

and high-single digit underlying volume growth in Q1 with broad-based growth

across categories.

◆ Cost inflation of 6-9% in Q1 (highlighted in Q4 update and only re-iterated in this

release) and the company’s response will include calibrated pricing actions, cost-

savings, and media optimization – margins shall recover progressively through

the year.

◆ The company stated that while El Niño conditions can heighten weather volatility