Godrej Consumer Sees India Sales Growth In High Teens In Q1
Godrej Consumer Products Ltd. expects its domestic sales growth to be in high teens in the quarter ended June, driven by higher volumes and price hikes.
“We witnessed strong double-digit sales growth in home care and personal care categories,” the maker of Good Knight and Hit insect repellents said in its quarterly business update released on the exchanges. “Home care was led by strong growth in household insecticides, whereas personal care was led by personal wash and hygiene.”
The company, it said, saw steady demand in key categories across key countries in the April-June period.
Indonesia constant currency sales growth remained flat.
Growth momentum continued in Africa, the U.S. and Middle East. It expects to deliver constant currency sales growth upward of fifties.
Expects constant currency sales growth in Latin America and SAARC business to remain strong.
“At a consolidated level, we continue to leverage our category and geographic portfolio well and expect to deliver strong double-digit sales growth and our two-year CAGR to be in the double digits,” Godrej Consumer said in the filing.
Shares of Godrej Consumer rose as much as 4% to Rs 927 compared with a 0.68% gain in the Nifty 50 Index.