Godrej Consumer Products posted a healthy set of earnings in Q2 with domestic volumes being the big positive. In an interview to CNBC-TV18, Vivek Gambhir, MD & CEO of the company spoke about the results and his outlook going ahead.
Rural demand grew marginally ahead of urban. However, yet to see a meaningful pick-up there, said Gambhir.
He also said that we are not seeing high wage growth in rural markets.
He further said that higher minimum support price (MSP) and better monsoons will aid rural recovery in second half.
Talking about GST, he said general and modern trade is back to normal post goods and services tax (GST).
On business front, he expects stronger pick-up in hair colour and insecticides.
He also expects 10-15 percent reduction in logistics and transportation cost going forward.
On Indonesian market, he said sales growth in Indonesia was challenging. Therefore, will take a couple of quarters before the business returns to normalcy, he added.
He is seeing signs of sequential recovery in India.
We are not looking at any acquisitions at this point of time, he mentioned.
Watch accompanying video for more details.
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