|
Profit before exceptional items and tax increased by 42.81% to Rs 577.68 crore in the quarter ended 31 March 2023. During the quarter the FMCG company posted a net exceptional loss of Rs 22.17 crore as against Rs 20.53 crore posted in the corresponding quarter last year.
Consolidated EBITDA increased by 32% year on year in Q4 FY23 while EBITDA margin improved by 360 bps to 21 % year on year in the fourth quarter.
During the quarter, the India business sales grew by 12% to Rs 1,789 crore and volume rose by 11%. While the Home Care category recorded a rise of 14%, Personal Care category reported a growth of 17%. EBITDA grew by 26% to Rs 475 crore in Q4 FY23.
Core business performance improves in Indonesia with sales growth of 5% in constant currency terms. Sales, excluding Hygiene (Saniter), saw a growth of 11% in constant currency terms. EBITDA margins at 21.5% were flat year-on-year.
The company's Africa, USA and Middle East delivered high single-digit sales growth of 8% in constant currency terms. Performance was impacted by election and demonetisation in Nigeria; however, business saw recovery in March 2023. It has delivered double-digit sales growth in the FMCG category. EBITDA margins at 10% expanded by 860 bps year-on-year due to a lower base
On consolidated basis, the company's net profit declined 4.5% to Rs 1,702.46 crore despite of 8.4% jump in net sales to Rs 13,198.69 crore in FY23 over FY22.
Sudhir Sitapati, managing director and chief executive officer (CEO), GCPL, said, “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 election and demonetisation in Nigeria.
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 cost and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development.”
The board has approved to raise funds by way of issuance of unsecured non-convertible debentures (NCDs), listed or unlisted, aggregating to an amount upto Rs 5,000 crore on a private placement basis in one or more tranches.
Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colorants, toiletries and liquid detergents.
|