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The market expects Godrej Consumer to carry on much as it has.
At today’s share price, buyers are assuming Godrej Consumer grows about 8% a year, forever. Over the last ten years it actually grew about 6% a year. The two are close, so the share price does not need the business to improve or to stumble. It needs it to keep doing roughly what it already does.
- How it is valued: Discounted cash flow.
- What the price assumes: 8% growth, against 6% the model takes from its own record.
- Ten-year record: Between FY2018 and FY2026, Godrej Consumer's revenue went from ₹9,937 crore to ₹15,178 crore — it compounded at about 5% a year over 8 years.
- Biggest swing factor: India volumes. Main risk: Currency.
01Household 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.
Roughly half its sales come from abroad, mainly Indonesia and several African countries, where it sells hair extensions, air fresheners and household products.
02What the market is assuming
Work backwards from today's share price and you can see what buyers are quietly taking for granted. Here is the growth that price implies for Godrej Consumer, next to what the model assumes from the company's own record.
The further apart these two numbers are, the bigger the bet a buyer at today's price is making.
03Godrej Consumer's record, in plain numbers
Between FY2018 and FY2026, Godrej Consumer's revenue went from ₹9,937 crore to ₹15,178 crore — it compounded at about 5% a year over 8 years. It reported a net loss in FY2024, and closed the period with net profit of ₹1,861 crore. In FY2026 it kept 12.3% of revenue as net profit — against a low of -4.0% in FY2024 and a high of 22.7% in FY2019. The latest year added 5.7% to revenue, close to its own long-run pace.
Revenue and earnings per share in ₹, return on equity and leverage as ratios — all from the filed statements.
Revenue and net profit by year (₹ crore)
| Year | Revenue | Net profit | Margin |
|---|---|---|---|
| FY2018 | 9,937 | 1,634 | 16.4% |
| FY2019 | 10,314 | 2,342 | 22.7% |
| FY2020 | 9,911 | 1,497 | 15.1% |
| FY2021 | 11,029 | 1,721 | 15.6% |
| FY2022 | 12,276 | 1,783 | 14.5% |
| FY2023 | 13,316 | 1,702 | 12.8% |
| FY2024 | 14,096 | -561 | -4.0% |
| FY2025 | 14,364 | 1,852 | 12.9% |
| FY2026 | 15,178 | 1,861 | 12.3% |
04How Godrej Consumer gets valued — and why
Discounted cash flowThis business is valued on the cash it is expected to generate, discounted back at its cost of capital — with growth taken from its own ten-year record rather than from guidance.
05What decides Godrej Consumer's value
India volumes
Household insecticides and soaps are the profit core.
Africa turnaround
Simplifying the African business is meant to lift margins.
Indonesia
A major market where growth has been uneven.
Innovation
New formats in insecticides and personal care drive share.
06What could go wrong
- Currency. African currencies can depreciate sharply.
- Commodity costs. Palm oil and chemicals affect margins.
- Weather. Mosquito seasons drive insecticide demand.
07What the full Godrej Consumer valuation shows
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- ✓Fair value per share — from a ten-year discounted cash flow, every step shown
- ✓The Workbench — change revenue growth, the discount rate or terminal growth and watch Godrej Consumer's value move
- ✓Bull, base and bear cases — and exactly which assumptions move between them
- ✓Peer comparison — against Hindustan Unilever, Dabur and Marico
- ✓Downloadable report — the full write-up, yours to keep
08Compare Godrej Consumer with peers
The same valuation, run side by side.
Godrej Consumer vs Hindustan UnileverHome and personal care against the FMCG benchmark.→Godrej Consumer vs Dabur IndiaThe nearest peer on portfolio and scale.→Godrej Consumer vs MaricoTwo mid-cap staples on the same measures.→09Questions people ask about Godrej Consumer
Why did Godrej Consumer report a loss in FY2024?
Because of a one-time impairment on its African business.
How much of Godrej Consumer's business is overseas?
Roughly half of sales, mainly Indonesia and Africa.
Godrej Consumer or Dabur — which is better value?
Two mid-cap staples makers, compared side by side on their own page.
Is Godrej Consumer overvalued?
At ₹871 the market is pricing in roughly 8% sustained growth, against the ~6% its own record supports. That is more than it has delivered, so the price is justified only if the business can hold a rate it has not previously sustained.
What is the intrinsic value of Godrej Consumer?
It is computed from the filed financial statements using the method that fits this business (discounted cash flow), with every assumption shown alongside the result. The per-share figure and the full working are in the report.
How much debt does Godrej Consumer carry?
Debt to equity stands at 0.00, down from 0.01 at the start of the period — the balance sheet is a core input to the cost of capital used here.