Godrej Consumer Products

The proceeds from the sale of FMCG business would be utilized for repayment of debt and infusing of funds in the Lifestyle business, Raymond said.

The fund's first round of Rs 150 cr continues to invest in firms at Series A and beyond. The Early Spring Fund will now also invest Rs 5-20 cr in each company, from seed to pre-series A

On a consolidated level, the company expects to deliver double-digit growth in rupee terms led by mid-single digit volume growth

Growth in domestic business exceeds expectations, says maker of Cinthol soaps

Godrej Consumer Products Ltd on Tuesday reported a 3.55 per cent rise in consolidated profit after tax at Rs 546.34 crore in the third quarter ended December 31, 2022. The company had posted a consolidated profit after tax of Rs 527.6 crore in the same period last fiscal, Godrej Consumer Products Ltd (GCPL) said in a regulatory filing. Consolidated total revenue from operations during the quarter under review stood at Rs 3,598.92 crore as against Rs 3,302.58 crore in the year-ago period, it added. Total expenses were higher at Rs 2,969.52 crore as compared to Rs 2,714.32 crore in the same quarter a year ago, the company said. "We delivered an all-round performance in 3Q FY 2023. Overall sales grew by 9 per cent and we witnessed a sharp sequential uplift in underlying volume growth," GCPL Managing Director and CEO Sudhir Sitapati said. The company had broad-based growth across geographies with India delivering double-digit sales growth of 11 per cent, he said, adding Africa, USA an

The quarterly update indicates strong sales momentum across geographies

FMCG major Godrej Consumer Products Ltd (GCPL) expects a double-digit sales growth in the domestic market for the December 2022 quarter. This is backed by low single-digit volume growth said the Godrej Group's FMCG arm in its quarterly update for the third quarter of FY23. "There has also been a sequential improvement from high single-digit sales growth and mid-single-digit volume decline in the previous quarter," it said. According to GCPL, the growth is "broad-based" and led by around double-digit sales growth in both Home Care and Personal Care. In the international business, in Indonesia, which is GCPL's largest foreign market, the company is witnessing a gradual recovery in performance. Though in constant currency sales declined to low single digit in Indonesia, it added. "Godrej Africa, USA, and Middle East (GAUM) continue its strong sales growth momentum, clocking double-digit sales growth in constant currency terms," it added. At a consolidated level, GCPL expects to del

The company expects sales on a constant currency basis to increase in the mid-teens percentage range for the third quarter, with overall profit seeing "meaningful improvement," as gross margins expand

Extent of margin gains will depend on extent of ad spends and price cuts

Growth in volumes in the recent past was affected due to a significant surge in product prices

Volumes to remain under pressure due to grammage reductions

Stocks to watch today: Tata Consultancy Services (TCS) will kick off India Inc's July to September (Q2FY23) earnings on Monday, October 10; HUL, GCPL slashed prices of soap products by up to 15%

The company expects their EBITDA to decline in mid-teens in the September quarter of FY23, due to consumption of high-cost inventory, high marketing spends and weak Indonesia performance

Food companies are still in wait and watch mode

Tata Steel, Godrej Consumer Products among those ushering in change

For the next 12-18 months, the focus will be more on the core because there's a lot that can happen there

KEC International and Shriram Transport Finance can soar up to 22 per cent, while Macrotech Developers, Gujarat Fluorochemicals and Godrej Consumer can rally up to 15 per cent, show charts.

The country's FMCG industry continued to be "hit hard by inflation levels" leading to successive price hikes as well as impacting volumes during the three months ended June, according to Godrej

The firm, however, expects a mid-single-digit volume drop on a high base in the quarter

The technical analyst from HDFC Securities expects the bias for the Nifty to remain positive as long as the NSE index holds above 15,704.