Godrej Consumer to raise soap prices as input costs bite
Expect to pay more for your favourite soap soon. Godrej Consumer Products, for instance, plans to raise soap prices further given continued commodity cost pressure, like palm oil, which is a key input.
March 22, 2012 / 15:20 IST
Nachiket Kelkar
Moneycontrol.com
Expect to pay more for your favourite soap soon. Godrej Consumer Products, for instance, plans to raise soap prices further given continued commodity cost pressure, like palm oil, which is a key input."Price increases on the soap side have been calibrated. Input cost increases have not yet been fully absorbed in selling price, So at current levels, some amount of price increase would be seen," Chief Financial Officer P Ganesh told moneycontrol.com.In the third quarter, for example, Godrej Consumer's raw material costs rose over 32% year-on-year to Rs 555.94 crore.Raw material cost pressures apart, the Finance Minister announced a hike in excise duty to 12% in the Budget last week, which too FMCG companies including Godrej Consumer will be passing on to customers. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
