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Tuesday, July 23, 2024

Double digit volume growth recorded by Godrej Consumer Products in Q1

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In Short:

Godrej Consumer Products shared that the domestic market had slow growth in the quarter, but there was double-digit growth in volume and high-single digit growth in value. They expect flat sales in INR but double-digit growth in constant currency sales and EBITDA. Their Indonesian business saw strong growth, while the GAUM business had a volume decline due to various factors like currency depreciation and supply disruptions.

Godrej Consumer Products Reports Quarter Performance

Godrej Consumer Products, a leading Fast-Moving Consumer Goods (FMCG) maker, has shared insights into its recent performance during the quarter. The company noted that the domestic market experienced softness, with high-single-digit organic volume and mid-single-digit value growth. However, there was a positive growth trend, with double-digit volume and high-single-digit value growth reported during this period.

Consolidated Performance

At a consolidated level (organic), Godrej Consumer Products anticipates flattish sales in the Indian Rupee (INR), double-digit constant currency sales growth, and double-digit EBITDA growth. The growth was evident across both Home Care and Personal Care segments. Despite initial softness in demand for Household Insecticides due to extreme heatwaves, the Park Avenue and KamaSutra brands are performing well and align with the company’s growth targets for the year.

Indonesia Business

The Indonesia business segment showcased a strong performance, with high-single-digit volume growth and double-digit constant currency sales growth. However, the depreciation of the Indonesian currency impacted growth in INR terms. Additionally, the GAUM (Godrej Africa, USA, and Middle East) organic business is expected to experience a double-digit volume decline, primarily driven by challenges in West Africa and supply disruptions in South Africa. Despite these obstacles, the company managed to achieve strong double-digit EBITDA growth in INR terms.

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