Godrej Consumer Products expects double-digit growth

Godrej Consumer Products Ltd expects online sales to contribute around 10 per cent to total sales in the next 2-3 years

FMCG major Godrej Consumer Products Ltd (GCPL) is looking at clocking a double-digit growth in the current fiscal with expansion across segments, said GCPL CEO India and SAARC Sunil Katari.

The Godrej group firm has taken multiple initiatives to tap the potential of the new age channels such as e-commerce along with chemist and pharmacy stores that have emerged as important touchpoints for the customer buying FMCG products, after the pandemic.

The company, which is focusing on becoming a fully comprehensive home and personal care company, is also expanding its reach in the rural areas, where it has added 30% new stockists after the pandemic.

Like other companies, GCPL has also witnessed a spike in its sales through e-commerce channels and going ahead it now expects online sales to contribute around 10 per cent to its total sales in the next 2-3 years and is introducing several digital first brands, said Kataria.

GCPL, despite the second pandemic wave this fiscal, reported a good volume-led growth in the April-June quarter of this fiscal. Its consolidated net sales were up 23.87 per cent at Rs 2,862.83 crore.

"We have a pretty good part this year. Our first quarter was very strong," he said.

Kataria said: "If the thing remains stable and a third wave does happen or if happens in a mild way, we would be empowering for a double-digit value growth this year (fiscal)."