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Mumbai, May 10, 2023: Godrej Consumer Products Limited (GCPL), a leading emerging markets FMCG company, has announced its financial results for the quarter ending March 31, 2023. The company has recorded sales of INR 3,172 crore, with double-digit growth of 10% (14% constant currency growth), and reported net profit growth of 24%. #GCPL #FY2023Results #DoubleDigitGrowth
The 4Q FY 2023 consolidated sales grew by 10% in INR led by volume growth of 6%; constant currency growth of 14% year-on-year. The India business sales grew by 12% year-on-year, and the Indonesia sales grew by 8% in INR and 5% in constant currency terms, year-on-year. Africa, USA, and Middle East sales grew by 6% in INR and 8% in constant currency terms, year-on-year. Latin America & SAARC sales declined by 3% in INR and grew by 64% in constant currency terms, year-on-year. #SalesGrowth #IndiaBusiness #IndonesiaSales #Africa #USA #MiddleEast #LatinAmerica #SAARC
Commenting on the business performance of 4Q FY 2023, Sudhir Sitapati, Managing Director and CEO, GCPL, said, "We had a strong end to the year with volume-led double-digit sales growth in 4Q FY 2023. Our quality of profits has also been improving with Consolidated Gross Margin expansion of 180 bps quarter-on-quarter, 340 bps year-on-year, and EBITDA Margin improvement of 360 bps year-on-year. We grew EBITDA by 32% year-on-year along with continued working media investments, which saw a growth of 20% year-on-year. Our net profit without exceptional and one-offs increased by 29% year-on-year. We expect to build on the current momentum and deliver volume-led growth along with upfront marketing investments and improvement in profitability." #SudhirSitapati #BusinessPerformance #ProfitGrowth
In India, Home Care grew by 14%, and Air Fresheners continued to consistently deliver strong double-digit growth. Personal Wash delivers double-digit growth led by healthy volume growth. Hair Colour continues to consistently deliver strong double-digit growth. In Indonesia, core business performance improves, and in Africa, USA, and Middle East, the cluster delivered high single-digit sales growth of 8% in constant currency terms. #IndiaHomeCare #IndiaAirFresheners #IndiaPersonalWash #IndonesiaBusiness #AfricaUSAMiddleEast
"We remain committed to our purpose of bringing the goodness of health and beauty to consumers in emerging markets," added Sitapati. The company expects to drive profitable and sustainable volume growth across its portfolio through category development. #HealthAndBeauty #EmergingMarkets #SustainableGrowth
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