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Today's prices ask more of Hindustan Unilever than of Godrej Consumer.
At current prices, buyers of Godrej Consumer are assuming about 8% growth against 6% in its own record; for Hindustan Unilever it is 8% against 3%. That shows which share needs more to go right — not which is cheaper. How far each trades from its estimated fair value is in the full valuations.
- Valuation method: both on discounted cash flow.
- Size: Hindustan Unilever is worth about 5.3 times Godrej Consumer on the stock market.
- Record: Hindustan Unilever has grown revenue faster: Godrej Consumer compounded at about 5% a year (FY2018–FY2026) and Hindustan Unilever at about 7% (FY2018–FY2026).
- What to watch: india volumes at Godrej Consumer; volume growth at Hindustan Unilever.
| Godrej Consumer | Hindustan Unilever | |
|---|---|---|
| Price | ₹871 | ₹1,993 |
| Market cap | ₹0.89L Cr | ₹4.68L Cr |
| P/E | 42.1 | 31.1 |
| P/B | 7.04 | 9.61 |
| Fair value 🔒 sign in | ₹0,000 | ₹0,000 |
| Upside 🔒 sign in | +00% | +00% |
| Valued on | Discounted cash flow | Discounted cash flow |
01Two businesses
Household and personal care across three continents
Godrej Consumer Products, part of the Godrej group, sells household insecticides (Good Knight, HIT), soaps (Cinthol, Godrej No.1) and hair colour (Godrej Expert) in India. In 2023 it bought Raymond's consumer brands, including Park Avenue and KamaSutra.
The brands in almost every Indian home
Hindustan Unilever is India's largest fast-moving consumer goods company and is majority-owned by Unilever. Its products — Surf Excel, Rin, Lux, Dove, Lifebuoy, Pond's, Brooke Bond, Kissan and, since its 2020 merger with GSK Consumer Healthcare, Horlicks and Boost — reach most Indian households through millions of shops.
02The records side by side
Hindustan Unilever has grown revenue faster: Godrej Consumer compounded at about 5% a year (FY2018–FY2026) and Hindustan Unilever at about 7% (FY2018–FY2026). By revenue, Hindustan Unilever is about 4.2 times the size of Godrej Consumer. Godrej Consumer kept 12.3% of revenue as net profit in FY2026; Hindustan Unilever kept 23.4% of revenue as net profit in FY2026 — a sign of very different business models. Godrej Consumer reported a net loss in FY2024; Hindustan Unilever was profitable in every year shown.
Full ten-year tables and charts are on each company's page: Godrej Consumer · Hindustan Unilever.
03What each price assumes
Work backwards from each share price and you can see what buyers are taking for granted — the rate each company must sustain to justify what it costs, against what its own record supports.
04What decides each one's value
- India volumesHousehold insecticides and soaps are the profit core.
- Africa turnaroundSimplifying the African business is meant to lift margins.
- Volume growthPrice increases can lift revenue for a while, but lasting value comes from selling more packs. Rural demand is the swing factor.
- Commodity costsPalm oil, crude derivatives and tea flow straight into costs; HUL's pricing power decides how much it can pass on.
05What could go wrong
- CurrencyAfrican currencies can depreciate sharply.
- Commodity costsPalm oil and chemicals affect margins.
- The multiple itselfIf growth stays in low single digits, the market may stop paying a premium P/E.
- Royalty increasesA higher royalty to Unilever moves value from minority shareholders to the parent.
06Which is better value?
Sign in free to see which trades further below its worth
- ✓Both fair values per share — each on the method that fits the business
- ✓Every step of both workings — growth, margins and cost of capital, with sources
- ✓Bull, base and bear cases — for each company
- ✓Downloadable reports — the full write-up for each, yours to keep
08Questions people ask
Is Godrej Consumer or Hindustan Unilever better value?
That turns on how far each share trades from its estimated fair value. Both figures, with every step of the working, are in the full valuations, free to view once you sign in. On the public numbers, Godrej Consumer trades at 42.1 times earnings and 7.04 times book value, and Hindustan Unilever at 31.1 times earnings and 9.61 times book value — but multiples alone mislead when two businesses work differently, which is why each is valued on the method that fits it.
What is the difference between Godrej Consumer and Hindustan Unilever?
Godrej Consumer Products, part of the Godrej group, sells household insecticides (Good Knight, HIT), soaps (Cinthol, Godrej No.1) and hair colour (Godrej Expert) in India. Hindustan Unilever is India's largest fast-moving consumer goods company and is majority-owned by Unilever.
Are Godrej Consumer and Hindustan Unilever valued the same way?
Yes — both on discounted cash flow, so their workings compare like for like.
What does today's price assume for Godrej Consumer and Hindustan Unilever?
Worked backwards from the share price, Godrej Consumer needs about 8% growth and Hindustan Unilever about 8% growth, against 6% and 3% in their own records.