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Godrej Consumer Products Ltd.
Q4FY23 Quarterly Result Announced for Godrej Consumer Products Ltd.
Personal products company Godrej Consumer Products announced Q4FY23 results:
- GCPL clocks sales of Rs 3,172 crore with double-digit growth of 10% and reported net profit growth of 24%
- Q4FY23 consolidated sales grew by 10% in INR led by volume growth of 6%; constant currency growth of 14% YoY
- India business sales grew by 12% YoY led by volume growth of 11%
- Indonesia sales grew by 8% in INR and 5% in constant currency terms, YoY; ex-Hygiene growth of 14% and 11% in INR and constant currency respectively
- Africa, USA, and Middle East sales grew by 6% in INR and 8% in constant currency terms YoY
- Latin America & SAARC sales declined by 3% in INR and grew by 64% in constant currency terms YoY
- Q4FY23 consolidated EBITDA grew by 32% YoY
- Q4FY23 consolidated net profit grew by 29% YoY (without exceptional items and one-offs)
Commenting on the business performance of Q4FY23, Sudhir Sitapati, Managing Director and CEO, GCPL, said: "We had a strong end to the year with volume-led double-digit sales growth in Q4FY23. Consolidated sales grew by 10% in INR terms and 14% in constant currency terms. We have continued to witness sequential improvement in volume growth with a 6% YoY increase in Q4. The performance was broad-based with India Branded business delivering stellar volume growth of 13%, led by double-digit volume growth in both Home Care and Personal Care. In Indonesia, our core business performance continued to improve with ex-Hygiene growth of 11% in constant currency terms. The double-digit growth trajectory in our Africa, USA, and Middle East business was temporarily impacted by the election and demonetisation in Nigeria.
Our quality of profits has also been improving with Consolidated Gross Margin expansion of 180 bps quarter-on-quarter, 340 bps YoY and EBITDA Margin improvement of 360 bps YoY. We grew EBITDA by 32% YoY along with continued working media investments which saw a growth of 20% YoY. Our net profit without exceptional and one-offs increased by 29% year-on-year.
We expect to build on the current momentum and deliver volume-led growth along with upfront marketing investments and improvement in profitability. We continue to have a strong balance sheet. We are on track in our journey to reduce wasted costs and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development.
We remain committed to our purpose of bringing the goodness of health and beauty to consumers in emerging markets."
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