Godrej Consumer Expects Mid-Single Digit Sales Growth, Weighed Down by 'Subdued Demand'

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Mumbai, India — Godrej Consumer Products Ltd (GCPL) has revised its sales growth forecast for the upcoming quarters, expecting a mid-single digit increase due to ongoing challenges in consumer demand. The company cited "subdued demand" as a key factor affecting its performance, despite maintaining a stable outlook for long-term growth.



Subdued Demand Impacting Sales

In a recent statement, GCPL executives highlighted that while the overall demand for consumer goods remains weak, they are navigating through these challenging conditions with a focus on strengthening brand value and improving cost efficiency. "We are facing slower demand in certain markets, particularly in the discretionary categories," said the company’s CEO.

Strategic Adjustments to Weather the Slowdown

Despite the demand slowdown, Godrej Consumer is focusing on expanding its product portfolio and enhancing distribution channels to drive sales in the coming months. The company is also doubling down on innovation in key segments, such as hair care and home care, to attract consumers.

Outlook for 2024

The company has reiterated its commitment to achieving mid-single digit growth for the full fiscal year, despite current market challenges. Analysts have noted that GCPL's efforts to drive operational efficiencies and focus on essential categories could help mitigate the impact of subdued consumer spending in the short term.

Godrej Consumer, one of India’s leading FMCG players, remains optimistic about its future, positioning itself for long-term resilience even as it faces headwinds in the present.

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