Shares of Godrej Consumer Products surged 3 percent on Thursday after the company said that it has been gaining market share in 85 percent of its categories despite the Indian FMCG industry witnessing a consumption slowdown over the last few months.
“In India, we expect to deliver close to double-digit sales growth, driven entirely by pricing. Our 2-year CAGR would be in the early twenties. We witnessed a mixed performance in our Personal Care and Home Care categories,” Godrej Consumer said in an exchange filing.
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In Indonesia, with hygiene performance waning after COVID-19 and a large hygiene comparator in base, the company expects a decline in sales in the high teens, in constant currency terms. In Godrej Africa, USA and Middle East, the FMCG player continued its growth momentum across most of its key countries of operations.
“We expect to deliver a constant currency sales growth close to the mid-teens. We also continue to focus on driving sustainable, profitable sales growth. We expect strong double-digit constant currency sales growth in our Latin America business. Our SAARC business performance was soft,” the company said.
Godrej Consumer expects to deliver a higher than mid-single-digit sales growth and a two-year CAGR around the mid-teens. In FY23, it expects to deliver early double-digit sales growth.
Additionally, on the profitability front, the consumer goods company expects lower YoY operating margins during the quarter owing to higher input costs and its weak performance in Indonesia.
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