GCPL Q2 net profit up 10.7% to Rs 458 cr

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Godrej Consumer Products Limited (GCPL), a leading emerging markets FMCG company, today announced its financial results for the quarter ending September 30, 2020.

FINANCIAL OVERVIEW

2Q FY 2021 FINANCIAL PERFORMANCE SUMMARY:

  • 2Q FY 2021 consolidated sales grew by 11% year-on-year
  • India business sales grew by 11% year-on-year
  • Indonesia sales grew by 5% in INR and 3% in constant currency terms, year-on-year
  • Africa, USA and Middle East sales grew by 10% in INR and constant currency terms, year-on-year
  • Latin America & SAARC sales grew by 41% in INR and 46% in constant currency terms, year-on-year
  • 2Q FY 2021 consolidated EBITDA grew by 19% year-on-year; consolidated EBIDTA margins expanded to 23.7%
  • 2Q FY 2021 consolidated net profit grew by 19% year-on-year (without exceptional items and one-offs).

CHAIRPERSON AND MANAGING DIRECTOR’S COMMENTS

Commenting on the business performance of 2Q FY 2021, Nisaba Godrej, Chairperson and Managing Director, GCPL, said:

We delivered a strong performance this quarter with double-digit, profitable sales growth. Consolidated sales grew by 11% and EBITDA grew by 19%. All our geographic clusters also recorded positive sales growth.

From a category sales perspective, Household Insecticides, Hygiene and Value For Money (which contributed to 83% of our global portfolio) grew by 17%. Household Insecticides grew by 6%, Hygiene grew by 27% and Value For Money grew by 22%.

From a geography sales perspective, India grew at 11%. Our Africa, USA and Middle East business showed robust recovery, growing at 10% in both constant currency and INR terms. Our Indonesian business delivered a soft performance, growing at 3% in constant currency and 5% in INR terms.

Going forward, we will continue to focus our efforts where the demand is – in Household Insecticides, Hygiene, and Value For Money. We are ramping up innovation and have launched several new products, strongly price-enabled, across geographies. Across channels too, we are making a shift; doubling down on digitisation and platforms like e-commerce and chemists. We are also strengthening our supply chain operations and distribution. Overall, the situation we are in calls for an extraordinary level of agility and resilience.  I am extremely proud of our team for bringing out the best in themselves to push onwards at this difficult time.

As always, our values matter the most at this time. We are committed to enabling the safety and wellbeing of all Godrejites, and serving our consumers and communities with our full hearts and minds.

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