What's The Buzz-GCPL's Q2 Update

Co says "Indian FMCG industry continued to remain soft during the quarter". The management expects consumption to improve in the second half of the fiscal year. Rural markets witnessed slower growth compared to urban markets. In India, expect to deliver high single-digit sales growth and a mid-single-digit volume drop, with a low single-digit 3-year volume CAGR. Personal Care sustained its strong double-digit growth trajectory, while Home Care witnessed close to mid-single-digit growth. On the profitability front, co expects a mid-teen decline in EBITDA in Q2. CITI in a brokerage note stated that it has maintained a buy rating as the company is in business transition with a target price at Rs 1050 per share. Subdued demand trends and inflation impacted profitability.