As per Godrej Consumer (GCPL), sales in India increased by 9% in the first quarter of the current fiscal year, while volume growth increased by 12%. The Mumbai-based company announced plans to invest Rs 900 crore in capital expenditure to establish a new manufacturing site in Tamil Nadu and Madhya Pradesh.
With this additional investment, the company expects to add approximately 20% capacity in the Home and Personal Care categories over the next 18-36 months. The FMCG behemoth's home care and household insecticides division grew by double digits in the first quarter.
The personal care business of GCPL increased by 2% to Rs 1,109 crore. Furthermore, the personal wash category delivered high-single-digit volume growth and low-single-digit value growth as the benefit of lower input costs was passed on to consumers, according to the company.
"Hair Colour grew in the mid-single digits from a high base, with a two-year CAGR in the teens." "Growth is being driven by consistent performance across formats," the company stated.
"In India, we stayed on track with our volume-driven category development strategy, delivering double-digit volume growth of 10%." "This performance was broad-based, with Home Care growing by double digits and Personal Care growing by mid-single digits," said Sudhir Sitapati, MD and CEO of GCPL.