New Research Reports

With an upside potential of 17% from the CMP, we maintain our BUY rating on the stock.

Radico Khaitan Limited’s (RKL’s) Q2FY2025 numbers were strong beating estimates on all fronts, with net revenues rising by 21% y-o-y and OPM improving 152 bps y-o-y to 14.6%, leading to 33% y-o-y growth in PAT.

With a downside of -2% from the CMP, we recommend a HOLD rating to the stock

Compared to Bloomberg consensus, sales were 1% higher but EBITDA beat was 4% as margins came in 60bps above expectations

2QFY25 sales were 1% above consensus while EBITDA was 2% higher as margins came in 15bps above expectations

We reiterate our REDUCE call on Colgate due to a high base for growth delivery ahead. The company has executed well on oral care and consistently surprised the street with its performance.

With a 10% upside from the CMP, we maintain our long-term BUY rating on the stock.

Colgate-Palmolive (India)’s (Colgate’s) Q2FY2025 numbers were mixed with revenue coming in line with expectations, while margins missed mark owing to higher advertising spends. Revenue grew by 10% y-o-y while OPM fell by 206 bps y-o-y leading to lower PAT growth at 3.9% y-o-y.

Godrej Consumer Products Limited’s (GCPL’s) Q2FY2025 performance was in line with expectations with revenue rising ~2% y-o-y (high single-digit domestic volume growth), OPM rising by 70 bps y-o-y to 20.8% and adjusted PAT growing by 12% y-o-y.

Tata Consumer share price corrected ~7% post 2QFY25 result on Tea inflation and sales challenges in NourishCo. Correction is overdone