Godrej Consumer expects strong Q1 growth amid Covid-19 disruptions
FMCG major Godrej Consumer Products Ltd expects strong growth in the first quarter, on the back of strong sales in the product categories across countries.
The company witnessed a rise in sales in the home care and personal care categories during the quarter. Godrej brands have performed well in the international markets and expect to recover from the disruptions caused by the Covid-19 pandemic during the financial year.
"At a consolidated level, we continue to leverage our category and geographic portfolio well and expect to deliver strong double-digit sales growth and our 2-year CAGR to be in the double digits,” Godrej Consumer said in a statement.
During the fourth quarter ended March 2021, the company had reported a consolidated net profit of Rs 366 crore ($49 million) on a revenue of Rs 2,705 crore.
The company is also planning to increase its distribution footprint from 1.2 million to 1.5 million direct coverage outlets and expand indirect coverage from six million to seven million in the coming two to three years.
Godrej Consumer Products Ltd is owned by the billion-dollar firm Godrej Group and has a strong presence in the personal care and cosmetics market.
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