GCPL expects to deliver close to low double-digit sales growth in India in Q2

FMCG firm Godrej Consumer Products Ltd (GCPL) expects to deliver close to low double-digit sales growth in India in July-September quarter of the current fiscal, the company said in a quarterly update.
According to a PTI report: GCPL said during the quarter, demand trends in the categories the company operates in remained stable and improved sequentially across key geographies.
“In India, we expect to deliver close to low double-digit y/y (year-on-year) sales growth this quarter, led by the hygiene (including soap) and household insecticides categories,” GCPL said in an update for the quarter ended September 30, 2020.
While household insecticides segment was marginally impacted by regional lockdowns and resultant back-end supply chain disruptions, the company continues to see sequential recovery in hair colour and air fresheners categories, GCPL said.
In Indonesia, GCPL expects to deliver low single-digit y/y constant currency sales growth in the quarter, led by household insecticides and hygiene categories.
The company said business performance was marginally impacted by the worsening COVID-19 situation and stringent social distancing norms which were implemented from mid-September in the country.
“In Godrej Africa, USA and Middle East, we recorded strong sequential recovery across most of our markets of operations. We expect to deliver close to low double-digit y/y constant currency sales growth this quarter,” the company said.
GCPL said it is “putting the right building blocks in place” and remains focused on driving sustainable sales growth in the future.
GCPL is an over US$ 1.5 billion leading emerging markets company having presence in over 90 countries. It has presence in emerging markets of Asia, Africa and Latin America in categories such as home care, personal care, hair care.