FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday said the company has decided to raise Rs 5,000 crore through the issuance of non-convertible debentures (NCDs).
The board of GCPL in its meeting held on Wednesday "approved raising of funds by way of issuance of Unsecured NCDs, listed and/or unlisted, aggregating to an amount upto Rs 5,000 crore on a private placement basis in one or more tranches".
Last month, GCPL announced the acquisition of the FMCG business of Singhania-controlled Raymond along with brands Park Avenue, Kamasutra, and Premium for Rs 2,825 crore.
The company reported a 24.47 percent growth in its consolidated net profit to Rs 452.14 crore in the fourth quarter ended March 31, 2023, led by volume growth. It had posted a net profit of Rs 363.24 crore in the January-March quarter a year ago.
The revenue from the sale of products of the Godrej group FMCG arm was up 9.6 percent at Rs 3,172.21 crore during the quarter under review as against Rs 2,894.15 crore in the corresponding period last fiscal.
GCPL’s total expenses were at Rs 2,680.39 crore, up 5.73 percent in Q4/ FY23 as against Rs 2,535.06 crore in the corresponding quarter. Its total income in the March quarter was at Rs 3,258.07 crore, up 10.83 percent.
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