Latest News | GCPL Expects Low Double-digit Sales Growth During Dec 2020 Quarter in Domestic Market

New Delhi, Jan 5 (PTI) FMCG player Godrej Consumer Products Ltd (GCPL) on Tuesday said it expects to deliver "close to low double-digit sales growth" in the domestic market during the October-December 2020 quarter, led by soaps and household insecticides segments.

Besides, the company has also witnessed a "sharp recovery" in its hair colour segment, which is expected to deliver mid-teen growth.

Demand trends in the categories across the key countries in which it operates remained stable during the December 2020 quarter, it added.

"In India, we expect to deliver a second consecutive quarter of close to low double-digit sales growth, driven by higher than mid-single-digit volume growth. This is led by soaps, which is expected to deliver strong mid-teen growth," the company said in its quarterly updates.

The household insecticides segment is expected to deliver about high single-digit growth.

"We continue the robust scale-up of our personal and home hygiene category," GCPL added.

The update provides an overall summary of the operating performance and demand trends for the quarter ended on December 31, 2020. 

This will be followed by a detailed performance update, following the approval of the financial results by the board of directors.

The Godrej group firm expects a "marginal decline" in Indonesia, its second-largest market, in constant currency sales.

"This is impacted by challenging macroeconomic variables, a gradual recovery in the air fresheners category, and high competitive intensity in the wet wipes category," it said.

While in Africa, USA and the Middle East, growth momentum continued across most of the company's key countries of operations.

"We expect to deliver high teen constant currency sales growth, a second consecutive quarter of double-digit sales growth. We continue to put in place building blocks for the future, and are focused on driving sustainable, profitable sales growth," it said.

It expects sales growth in its Latin America business to remain strong in constant currency terms. 

"Our SAARC business also continues to deliver healthy sales growth. At a consolidated level, we continue to leverage our category and geographic portfolio well, and expect to deliver a second consecutive quarter of close to low double-digit sales growth," said GCPL.

As part of its international expansion plans, GCPL is building a presence in three emerging markets Asia, Africa and Latin America across three categories — home care, personal wash and hair care.

In the household insecticides segment, GCPL is a leader in India and second largest player in Indonesia and is expanding footprint in Africa.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)