Godrej Consumer Products Ltd has reported mid-single-digit volume growth in the domestic market for the July-September quarter, even in the face of challenging macroeconomic conditions and adverse weather. In their quarterly update on Thursday, the company stated, “Home Care volumes showed mid-single-digit growth, while Personal Care saw low-single-digit growth.”
The Godrej Group’s FMCG division, which acquired the Park Avenue and KamaSutra brands earlier this year from Raymond Group, has noted a sequential improvement in their performance. They are on course to meet their full-year guidance, the company stated.
“In India, we witnessed weak macros and adverse weather conditions during the quarter. Despite the tough operating environment, our organic business delivered steady performance with mid-single digit volume growth,” Godrej Consumer Products Ltd (GCPL) said.
In global markets, Godrej Consumer Products Ltd’s business in Indonesia maintained its strong performance, achieving double-digit growth in both volume and value.
“Godrej Africa, USA, and Middle East (GAUM) continued its consistent performance with constant currency sales growth in mid-teens,” the company said.
However, in rupee terms, adverse currency translation impact will result in a mid-single-digit sales decline, GCPL added.
“At a Consolidated level (organic), we expect to deliver mid-single digit volume growth, double-digit constant currency sales growth and low single-digit sales growth in INR terms. Sales growth (incl. inorganic) to be in mid-single digit in INR terms,” said GCPL.
According to GCPL, this quarterly update provides an overall summary of the operating performance and demand trends during the quarter ended September 30, 2023.
“This will be followed by a detailed performance update, post the approval of the 2Q FY24 financial results by the Board of Directors,” it added.
