Sales growth was quite broad based across key categories of soaps, household insecticides and hair colours, GCPL said
GCPL said it will retain its focus on personal and home hygiene products going forward
New Delhi:Godrej Consumer Products Ltd—that sells Cinthol soaps and Goodknight mosquito repellents — said growth was stable across categories in the March quarter with India business expected to deliver around 30% sales growth.
This the company said was led by strong volume growth and price hikes during the quarter.
“During the quarter, demand trends in our categories across the key countries we operate in, remained stable. In India, we expect to deliver sales growth around the thirties, driven by strong volume growth and calibrated price increases. Sales growth was quite broad based across key categories of soaps, household insecticides and hair colours. We also witnessed strong sales growth momentum in each of the months within the quarter," the company said in its fourth quarter update on Wednesday. GCPL is yet to announce its fourth quarter earnings.
It also helps that FMCG companies reported weak earnings in the fourth quarter of the previous fiscal as India moved to a lockdown—a lower base is likely to favour companies in Q4FY21.
The company also entered newer categories last year as covid shifted consumption trends. It expanded its hygiene brand Protekt to build it into a home, kitchen and personal care brand.
GCPL said it will retain its focus on personal and home hygiene products going forward. “Covid 19 has also changed consumer behaviour with regards to demand for personal and home hygiene and we see this as a strong focus area for us going forward. This has resulted in a broader home and personal Care play ambition; a journey we expect to accelerate, going ahead," the company said.
In international markets it said demand trends were linear. “In Indonesia, we expect gradual recovery with mid-single digits constant currency sales growth. While macroeconomic variables and a stretched covid-19 environment continued to pose challenges, we are witnessing gradual recovery in the air fresheners category and are strategically addressing the highly competitive intensity in the Wet Wipes category," the company said.
Meanwhile, in Godrej Africa, USA and Middle East, it saw growth momentum across most of its key countries of operations. “We expect to deliver constant currency sales growth close to the thirties," GCPL said.