Godrej Consumer eyeing high single or double-digit volume growth going forward

Godrej Consumer is looking to achieve high single or double-digit volume growth going forward, said Vivek Gambhir, managing director and CEO of the company, adding that the next financial year will be better in terms of volumes.

“We continue to see good momentum and recovery in volume growth and are looking at high single or double-digit volume growth for going forward,” said Gambhir, in an interview with CNBC-TV18, adding “given our innovation agenda, the great work that team is doing on distribution, I feel optimistic that the business will perform better next year on volume growth basis."

The stock has been under pressure since the company announced a very weak set of earnings in the third quarter.

Gambhir said the company has seen a gradual demand growth in the last 3-4 quarters and expects a much stronger uplift from rural consumption and rural growth from the second half of the year. Moreover, along with rural growth if urban growth also shows steady recovery then next year would be a much stronger year for the FMCG industry.

The company also plans to launch 6- 8 major innovations next year, said Gambhir, adding that they have no acquisition plans in the near future.