Sharekhan recommended hold rating on GlaxoSmithKline Consumer Healthcare with a target price of Rs 7931 in its research report dated August 05, 2019.
Sharekhan's research report on GlaxoSmithKline Consumer Healthcare
In Q1FY2020, GlaxoSmithKline Consumer Healthcare (GSK Consumer) recorded a steady operating performance with volume growth of 5.4% (revenue growth of 8% y-o-y) and OPM expanding by 268BPS to 23.5%. The flagship brand, Horlicks maintained its leadership position with 44% market share in the HFD category. Volume growth is likely to sustain at 5%; gross margins to come under pressure in H2 due to spike in input prices.
Outlook
We have broadly maintained our estimates for FY2020 and FY2021; Maintain Hold with an unchanged PT of Rs. 7931.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
Read More
