Morgan Stanley has retained its overweight rating on Godrej Consumer Products with a target price of ₹1,413 per share following an in-line Q2FY26 performance. The brokerage noted that the company delivered strong results in both India and the GAUM (Greater Africa, USA, and Middle East) regions, underlining steady execution and market resilience.
The firm said India operations performed in line with expectations, while Indonesia revenue declined in low single digits though volumes improved slightly. Meanwhile, the GAUM region posted double-digit growth for the third consecutive quarter, reflecting sustained traction across key international markets.
Morgan Stanley said management remains confident about achieving its full-year guidance and expects performance to strengthen in the second half of FY26. The brokerage believes that product innovation, pricing discipline, and ongoing margin recovery will continue to drive earnings momentum. It added that Godrej Consumer’s balanced domestic and overseas exposure provides stability amid evolving demand trends.
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