Godrej Consumer Products Limited (GCPL) on May 6 reported a consolidated net loss of Rs 1,893 crore for the March quarter against a net profit of Rs 452 crore. The company reported Rs 581.06 crore in the previous quarter.
The quarter also includes one-time exceptional loss of Rs 2,376 crore.
The total revenue of the company stood at Rs 3,385.61 crore, rising 6 percent from Rs 3,200.16 crore a year ago, the company said in a regulatory filing.
The board also recommended interim dividend at Rs. 10 per share for the financial year 2023-24.
"We continue to remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We are launching new products in accordance with our purpose to bring the goodness of health and beauty to consumers." said Sudhir Sitapati, MD and CEO.
Home Care
Home Care saw a 6 percent growth, with Air Fresheners and Fabric Care segments displaying robust performance. Air Fresheners maintained double-digit volume growth, led by Aer's market leadership and increased market share. Fabric Care experienced strong double-digit growth, driven by brands like Fab, Genteel, and Ezee. Household Insecticides had a slower quarter due to extended winter in the North and parts of the East, though the non-mosquito portfolio remained strong.
Personal Care
In the realm of Personal Care, the latest introduction, Goodknight Agarbatti, is gaining traction and revolutionizing the Rs 21,200 crore market of Mosquito Incense Sticks, primarily dominated by illicit players.
Goodknight Agarbatti stands out as India's sole government-registered active anti-mosquito incense stick, employing a novel molecule, RNF, which boasts nearly double the efficacy of most other registered molecules utilized in India.
GCPL holds exclusive rights to utilize this molecule in the medium term. Personal Care witnessed a 4 percent growth primarily driven by volume. Personal Wash exhibited robust high single-digit volume growth, bolstering our market share through effective media campaigns and targeted micro-marketing endeavors. Notably, Magic Handwash sustained impressive double-digit volume growth.
Park Avenue and KamaSutra
Park Avenue and KamaSutra maintained their strong sales momentum as seen in Q4, achieving sales of 137 crore in line with seasonal trends of the category. The integration process has been finalized, and synergistic benefits have begun to materialize since Q4.
Indonesia Business
In Indonesia, significant progress has been made with a robust double-digit volume growth of 12 percent and a sales growth of 17 percent (measured in constant currency) or 15 percent in terms of Indian Rupees.
EBITDA margin stands at 25.2 percent, reflecting a notable increase of 360 basis points compared to the previous year. Household Insecticide volumes surged by strong double digits, primarily driven by aerosol products, while Household Insecticide continued to expand its market share and maintain leadership.
Additionally, Hair Colour demonstrated substantial double-digit volume growth, largely propelled by Shampoo Hair Colour variants.
Africa, USA, and Middle East Business
The company's Africa, USA, and Middle East segment exhibited a commendable sales growth of 16 percent in constant currency terms, although performance in Indian Rupees was affected by the devaluation of the Naira. Across FMCG categories, robust double-digit growth persisted. Notably, the EBITDA margin soared to 14.3 percent, marking a remarkable increase of 720 basis points year-on-year. This improvement was primarily driven by expansions in gross margins and enhancements in product mix, underscoring the segment's commitment to sustained growth and profitability.
Shares of GCPL closed flat at Rs 1,250.75 apiece on BSE ahead of the earnings.
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