Godrej Consumer Prod

Aug 26 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• GODREJ CONSUMER - INAUGURATES ITS 4TH MANUFACTURING UNIT AT MALANPUR

• GODREJ CONSUMER - MALANPUR PLANT SPANS 65 ACRES WITH 8.50 BILLION RUPEES CUMULATIVE INVESTMENT

• GODREJ CONSUMER - EXPANSION ADDS 4TH UNIT AT MALANPUR WITH 4.80 BILLION RUPEES INVESTMENT

Source text: [ID:]

Further company coverage: GOCP.NS

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Aug 12 (Reuters) - Shares of India's Godrej Consumer Products GOCP.NS fell as much as 10% in pre-open trade on Wednesday after CEO Sudhir Sitapati unexpectedly resigned just months after his reappointment, raising concerns over leadership transition.

The consumer goods maker on Tuesday named CFO Aasif Malbari as its new chief.

(Reporting by Surbhi Misra in Bengaluru; Editing by Sherry Jacob-Phillips)

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Godrej Consumer Products appointed its chief financial officer, Aasif Malbari, as managing director and chief executive officer for five years from 12 August 2026, subject to shareholder approval. Sudhir Sitapati resigned from the role with effect from 11 August, rendering ineffective the shareholder resolution approving his reappointment at the 7 August annual meeting. Vishal Kedia, who leads strategy, financial planning and analysis and investor relations, became interim chief financial officer from 12 August. Sitapati had led GCPL for five years, while the company reported consolidated sales growth of 19% and underlying volume growth of 9% in the first quarter of FY27.

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Aug 11 (Reuters) - India's Godrej Consumer Products GOCP.NS said on Tuesday that it has appointed its current CFO Aasif Malbari as CEO and managing director for a five-year term, effective August 12.

The consumer goods maker said the appointment is subject to shareholder approval.

(Reporting by Mridula Kumar in Bengaluru; Editing by Sonia Cheema)

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Aug 7 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• GODREJ CONSUMER JUNE-QUARTER CONSOL NET PROFIT 5.05 BILLION RUPEES

• GODREJ CONSUMER JUNE-QUARTER CONSOL SALE OF PRODUCTS 42.11 BILLION RUPEES

• GODREJ CONSUMER- DIVIDEND OF 5 RUPEES PER SHARE

Source text: [ID:]

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Adds analyst comment in paragraph 9, background in paragraph 8, details throughout

By Mridula Kumar and Praveen Paramasivam

July 22 (Reuters) - Nestle India NEST.NS posted a 48% surge in first-quarter profit on Wednesday, with all of its product groups clocking double-digit growth on strong demand for Maggi noodles, KitKat chocolates and Nescafe coffee brands, sending its shares as much as 4% higher.

The consumer goods industry bellwether kicks off earnings for the sector, which analysts expect to benefit from improving rural consumption, stronger demand for premium brands and an extended summer boosting sales of seasonal goods.

"All four product groups delivered strong double-digit growth," Chairman and Managing Director Manish Tiwary said in a statement, referring to prepared dishes, milk products, chocolates and beverages.

The Indian arm of Swiss food major Nestle NESN.S said its profit stood at 9.75 billion rupees ($101.1 million) for the first quarter ended June 30.

Total revenue rose 25% to 63.78 billion rupees, helped by strong sales on online platforms and wider distribution.

Peers including Godrej Consumer GOCP.NS and Dabur India DABU.NS have pointed to better demand alongside Middle East war-triggered cost pressures, which they are countering with price increases, pack-size reductions and cost-saving measures.

"During the quarter, we further accelerated operational cost savings," Tiwary said, without providing further details.

Heading into the earnings season, analysts projected margin pain for the sector.

"Pre-quarter updates of most companies indicate better cost management in the backdrop of volatile crude prices and hence would be delivering better margins than anticipated," ICICI Securities analyst Kaustubh Pawaskar said.

But risks, including the impact of the Middle East war on cost inflation, remain.

Looking ahead, Nestle India flagged inflation in edible oil, cocoa and sugar, with sugar posing further risk if uneven monsoon conditions linked to El Niño, a periodic warming of the Pacific Ocean that can raise global temperatures and trigger extreme weather, hurt production.

($1 = 96.4300 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru and Praveen Paramasivam in Chennai; Editing by Rashmi Aich and Mrigank Dhaniwala)

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Godrej Consumer Products issued an unaudited quarterly update for the first quarter of FY27, indicating high-teens consolidated revenue growth, well ahead of its full-year double-digit guidance. The company said the performance was broad-based, with double-digit growth in the standalone business, mid-teens growth in Indonesia driven by double-digit volumes, and exceptionally strong double-digit sales growth in the Africa, USA, and Middle East region. Input costs remained elevated for most of the quarter but began easing in the closing weeks, and the company expects margins to recover progressively. With revenue tracking ahead of expectations, Godrej Consumer Products said it is on track to meet full-year guidance and is likely to exceed it in select metrics.

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July 3 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• GODREJ CONSUMER - AT CONSOLIDATED LEVEL, WE EXPECT TO DELIVER HIGH-TEENS REVENUE GROWTH IN Q1 FY27

• GODREJ CONSUMER- IN Q1FY27 CONSOLIDATED EBITDA EXPECTED TO LAND AHEAD OF DOUBLE-DIGIT GUIDANCE, MARGINS WILL BE LOWER DUE TO EXCEPTIONAL COST PRESSURES

• GODREJ CONSUMER - ON COMMODITY FRONT, INPUT COSTS REMAINED ELEVATED THROUGH MOST OF Q1

• GODREJ CONSUMER - STANDALONE BUSINESS IS LIKELY TO DELIVER DOUBLE-DIGIT REVENUE GROWTH FOR Q1 FY27

• GODREJ CONSUMER - REMAIN FIRMLY ON TRACK TO DELIVER OUR GUIDANCE FOR FULL YEAR

• GODREJ CONSUMER- REMAIN MINDFUL THAT EL NIÑO CONDITIONS CAN HEIGHTEN WEATHER VOLATILITY ACROSS KEY MARKETS

Source text: ID:nnAZN4T5W9R

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By Praveen Paramasivam and Chandini Monnappa

CHENNAI/BENGALURU, June 8 (Reuters) - From smaller packs on shelves to higher prices at checkout, Indian companies are scrambling to protect their margins as surging oil, freight and insurance costs - and strained household budgets - pile on pressure.

The U.S.-Israeli war on Iran has disrupted trade routes and lifted input costs globally, hitting import-reliant economies like India harder, where a weaker rupee is adding to inflation and complicating pricing decisions as demand remains uneven.

"We are among the world's most vulnerable countries," economist Jayati Ghosh said, warning higher oil and fertiliser costs, weaker Gulf demand, softer remittances and potential capital outflows could stoke inflation and slow growth.

Consumer goods makers Hindustan Unilever HLL.NS, Godrej Consumer Products GOCP.NS and Dabur India DABU.NS have already rolled out low- to mid-single-digit price hikes across categories, with Britannia BRIT.NS preparing similar moves.

Pricing power remains weak in mass segments, with companies holding the line on 10- to 20-rupee (11- to 21-cent) packs and shrinking product sizes instead of raising prices outright.

"We are reducing grammage because we can't breach those price points," said Mohit Malhotra, global CEO at Dabur.

Automakers Maruti Suzuki MRTI.NS, Mahindra & Mahindra MAHM.NS, Tata Motors Passenger Vehicles TAMO.NS and Hyundai Motor India HYUN.NS have also hiked prices.

"We were left with no choice," said Partho Banerjee, Maruti's senior executive officer for marketing and sales, adding that raising prices was not good for customers, especially first-time buyers.

Airlines IndiGo INGL.NS and Air India are trimming capacity, especially on fuel-heavy international routes, and increasing fares to offset higher aviation fuel costs.

Consumers are feeling the squeeze.

"I have no family to feed, no school fees, and no monthly payments on a car. I'm still watching my spending as prices are up for almost everything, from travel to packaged food," said Aditi Anjana, a Mumbai-based communications professional who is in her 30s.

BELT-TIGHTENING MODE

With limited room to pass on costs, companies are turning inward and cutting costs to cushion margins.

Hindustan Unilever HLL.NS has cut advertising spend, while others are trimming non-essential travel and marketing costs.

"The scope for further cost-cutting is gradually narrowing," Axis Direct analyst Uttam Kumar Srimal said, adding prolonged commodity and fuel inflation could force sharper price hikes or margin hits.

Sectors with high global exposure, including aviation, oil and gas, chemicals, logistics and capital goods, may remain under margin pressure, said Shweta Rajani, associate director at Anand Rathi Wealth.

RESETTING SUPPLY CHAINS

Firms are also reworking supply chains to manage disruptions. Companies with Middle East exposure are rerouting shipments, diversifying sourcing, and shifting production.

Dabur, an Indian rival of Colgate-Palmolive, is using alternative routes via Egypt and Turkey, while packaged goods maker Britannia is bringing some production back home.

Some firms are also front-loading purchases and closely tracking demand to avoid overstocking, underscoring tighter working capital discipline.

Arvind Fashions ARVF.NS has advanced inventory buys to lock in costs and is relying more on local suppliers, while Tata Group retailer Trent TREN.NS is tweaking raw materials, packaging, and product development.

"My priority is not to take prices up," said Umashan Naidoo, head of customer and beauty at Trent, which offers Gen-Z-focused affordable trendwear through its brand ​Zudio.

($1 = 94.9450 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Chandini Monnappa in Bengaluru; Additional reporting by Surbhi Misra; Editing by Dhanya Skariachan and Himani Sarkar)

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Adds details paragraph 3 onwards

May 6 (Reuters) - India's Godrej Consumer Products GOCP.NS posted a 9.7% rise in fourth-quarter profit on Wednesday, driven by strong volume growth in its India business and continued momentum in international markets.

The company, a unit of the real estate-to-dairy conglomerate Godrej Industries GODI.NS, reported consolidated net profit of 4.52 billion rupees ($47.78 million) for the quarter ended March 31, compared with 4.12 billion rupees a year ago.

Consolidated operating margin for the quarter stood at 21.7% in the quarter, compared with 21.6% a year ago.

Revenue from the sale of products rose 11.2% to 38.85 billion rupees, led by volume growth in the India business, which contributes 60.5% to overall sales.

In April, the company had warned that elevated crude and palm oil prices could raise costs by 6% to 9%, potentially pressuring margins.

However, calibrated pricing actions aided by better scale efficiencies and disciplined cost management helped earnings, the company said in an exchange filing.

The company said its India business is well placed to deliver continued growth in FY27 at stable margins, supported by improving demand trends and consistent in-market execution.

Its India business posted 8% underlying volume growth and 10% sales growth, driven by strong demand in home care categories, including household insecticides, air fresheners and fabric care.

Godrej Consumer's Africa, U.S. and Middle East business also grew 20% during the quarter, while Indonesia sales rose 3% as pricing pressures began to stabilise.

($1 = 94.6100 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru; Editing by Janane Venkatraman and Harikrishnan Nair)

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April 13 (Reuters) - India's Godrej Industries GODI.NS said on Monday its chairperson, Nadir Godrej, will retire in August 2026 and assume the role of chairman emeritus, as part of several planned leadership transitions across the group.

He has been associated with the group since 1977.

Here are the details:

• Pirojsha Godrej, currently chairperson of Godrej Properties, will succeed Nadir as chairperson of Godrej Industries Group and Godrej Industries Ltd, effective August 14.

• Nadir Godrej will also step down from the boards of other group companies, including Godrej Agrovet GODE.NS, Godrej Consumer Products GOCP.NS and Godrej Properties GODR.NS, in August.

• He has also stepped down as chairperson and non-executive director of Astec LifeSciences ASTE.NS effective April 13.

• Burjis Godrej, an executive director at Godrej Agrovet, will become chairperson of the agriculture business and join the board of Godrej Industries as a non-executive director from August 14.

• Vishal Sharma, the CEO of Godrej Chemicals, has been appointed chairperson of Astec LifeSciences with immediate effect.

(Reporting by Surbhi Misra in Bengaluru; Editing by Sahal Muhammed)

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Recasts lede, adds details throughout

April 6 (Reuters) - India's Godrej Consumer Products GOCP.NS said on Monday it expects costs to rise 6% to 9% if Brent crude holds at $100 to $110 a barrel and palm oil prices hover between 4,500 and 4,800 Malaysian ringgit a metric ton.

Recent gains in both commodities have been driven by the ongoing Middle East conflict.

Palm oil derivatives, a key input for soaps and personal care products, along with crude-linked packaging and freight costs, are major expenses for Indian consumer companies, which were only beginning to see a recovery in demand following tax relief measures introduced late last year.

Brent crude futures rose to $109.13 on Monday while Malaysian palm oil futures were at $1,195.53 (4,812.01 ringgit).

Consumer companies typically hike prices or cut costs to protect margins from higher input costs.

The maker of Cinthol soaps and Goodknight mosquito repellent said it expects to offset the impact of cost increases through price hikes and other savings measures, without providing too many details.

The company expects a close-to-double-digit growth in consolidated revenue and core earnings in the fourth quarter, driven by steady domestic demand, it said.

For the third quarter, Godrej's costs had risen 6.3% to $361.49 million.

On Monday, it also said it expects to meet its original bottom-line plans for fiscal 2027 while stepping up revenue growth even if costs stay at current levels, but warned of revisions if input costs rise further.

Crude-led inflation is likely to persist into the first half of fiscal 2027, it said, though policy support, including tax relief measures, could partially offset the impact.

Peer Dabur DABU.NS on Friday said growth in its international business will be in the low single digits due to the Middle East conflict.

($1 = 4.0250 ringgit)

($1 = 93.0600 Indian rupees)

(Reporting by Chandini Monnappa and Mridula Kumar in Bengaluru; Editing by Jonathan Ananda and Sahal Muhammed)

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By Divya Chowdhury and Ankita Yadav

MUMBAI, Feb 20 (Reuters) - India's story of growth, insulated from AI exposure, could propel its markets to the front of investors' minds and draw back foreign cash, as a shakeout in bets on artificial intelligence gathers pace elsewhere.

Left behind and sold by foreigners through a years-long rally in everything tied to computing and AI infrastructure, India's "anti-AI" equity market is starting to catch up, as the South Asian nation's growth prospects and currency strength improve.

That could turn around last year's departure from the market of a net $21 billion in foreign cash.

"Once that AI theme plays out and you are again looking at the market for sustained long-period growth, there is no such story like India," said Prateek Agrawal, chief executive of Motilal Oswal Asset Management Company in Mumbai.

"Long-period growth will come from newer emerging spaces ... which will be the big businesses of tomorrow."

Some of that is yet to be reflected in market indexes, he said. But the shifting mood is captured in this month's flow of about $1.5 billion in net foreign purchases of stock.

At the same time, the rupee INR= currency is off record lows after India struck a long-awaited trade agreement with the Trump administration.

India's Nifty 50 .NSEI has fallen less than 1% over the period from October 29, when the Nasdaq .IXIC, owned for its high-growth, tech-heavy potential, hit a peak before losing more than 5%.

"There's enough excitement - demographics, consumption, policy-making - all of those tailwinds are in India's favour," Rahul Saraf, head of investment banking at Citi India, told the Reuters Global Markets Forum.

"Steady domestic inflows and an active dealmaking market support higher multiples, and continue to drive growth and M&A activity."

IT'S THE ECONOMY

The optimism is fuelled by India's near $4-trillion-dollar economy, projected to grow 7.4% in the fiscal year that ends in March 2026, according to the latest annual economic survey, and at 6.7% next year and 7% the year after, according to S&P.

The driver of that growth is consumption, which could be all the more attractive as it is insulated from AI and not really dependent on foreign trade, or the global economy, either.

"It's domestic demand, and you have that diversity in terms of the actual growth (in India)," Amirul Feisal Wan Zahir, managing director at Malaysian sovereign fund Khazanah Nasional Bhd, told GMF at Davos in Switzerland.

"From (an) investment perspective, there'll be more capital deployed in this area rather than going to the United States. And with that, we'll have more growth going forward."

To be sure, shares have suffered in the "software-maggedon" wipeout of about $1 trillion in market value that chipped about $50 billion from the market cap of IT services firms such as Infosys INFY.NS and others in India in February.

Price is another a perennial stumbling block. The Nifty 50 trades at roughly 22 times its 12-month forward earnings, slightly above a long-term average of 20.8 times, against a forward P/E ratio of 13.6 for the MSCI emerging markets index.

But that is not expensive, according to Citi's Saraf, while others see it as justified by the high and steady growth.

India, along with China and Brazil, is among UBS's "preferred markets", in part reflecting growth and compelling domestic drivers, the bank told Reuters.

"Part of the high valuation in India is because it has very high growth rates," said Nadir Godrej, managing director of Godrej Industries, warning that a downturn could test investor confidence. "I'm very optimistic about India."

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(Reporting by Divya Chowdhury in Mumbai, Ankita Yadav and Mehnaz Yasmin in Bengaluru; Editing by Tom Westbrook and Clarence Fernandez)

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Updates with analyst commentary in paragraphs 6 and 7, parent results in paragraph 9

By Praveen Paramasivam and Komal Salecha

Feb 12 (Reuters) - Hindustan Unilever HLL.NS reported a 15% decline in quarterly profit on Thursday, pressured by thinner margins as the consumer goods major cut some product prices to counter rising competition, sending shares lower.

The local subsidiary of UK's Unilever ULVR.L, home to Dove and Surf Excel brands, said its profit from continuing operations fell to 25.90 billion rupees ($286.05 million) for the quarter ended December 31.

Shares fell as much as 4.6% after the results.

Total expenses climbed 5%, with EBITDA margins shrinking by 70 basis points from a year earlier to 23.3%, after Hindustan Unilever cut prices in its tea business and home care portfolios, partly to stave off competition.

Hindustan Unilever has grappled with stiff competition in fabric care from startups as well as Ariel detergent maker Procter & Gamble PG.N and India's Godrej Consumer Products GOCP.NS.

Three analysts said Hindustan Unilever's margins missed their estimates. Akshay D'Souza, an independent consumer goods consultant, said the company's focus on distribution-led growth, a slower pace of launches and acquisition spending have squeezed margins.

However, its sales growth improved, rising 4% from a year earlier to 156.14 billion rupees. A 4% increase in sales volume growth is "a bright spot," said Ajay Thakur, research analyst at Anand Rathi Institutional Equities.

Consumer goods makers, including Britannia Industries BRIT.NS and Hindustan Unilever, expect demand to pick up after several subdued quarters, supported by tax cuts and easing inflation that have bolstered urban spending.

Hindustan Unilever expects the fiscal year starting April to be better than the current year. But its parent firm expects 2026 sales growth to be at the lower end of its forecast after a slowdown in the U.S. and Europe.

Hindustan Unilever on Thursday also said it would buy the remaining 49% stake in plant-based food brand Oziva for 8.24 billion rupees.

($1 = 90.5450 Indian rupees)

(Reporting by Komal Salecha in Bengaluru and Praveen Paramasivam in Chennai; Editing by Sonia Cheema)

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Jan 23 (Reuters) - India's Godrej Consumer Products GOCP.NS posted a marginal decline in quarterly profit on Friday, hurt by a one-time charge from new labour codes and weakness in its Indonesia business.

Consolidated net profit fell marginally to 4.979 billion rupees ($54.16 million) for the quarter ended December 31, from 4.983 billion rupees a year earlier. Without exceptional items and one-off charges, its net profit climbed 14%.

Revenue from sale of products rose nearly 9% to 40.79 billion rupees, led by growth in India and Africa even as the company's Indonesia business declined.

For further earnings highlights, click here. [FULL STORY]

KEY CONTEXT

Godrej Consumer is contending with intense competition as well as a broader economic slowdown in Indonesia, which in 2024-25 accounted for about 14% of its total revenue. It expects a meaningful recovery from fiscal 2027 onwards.

That comes in contrast to a nascent recovery in demand in India after sales took a hit in the second quarter, when customers deferred purchases following the announcement of consumption tax cuts.

India's new labour codes - the country's biggest overhaul of workers' laws in decades - have dragged the profit of large corporates, including those of Wipro WIPR.NS and Infosys INFY.NS.

PEER COMPARISON

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

($1 = 91.9310 Indian rupees)

(Reporting by Komal Salecha in Bengaluru and Praveen Paramasivam in Chennai; Editing by Ronojoy Mazumdar)

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Jan 6 (Reuters) - India's Godrej Consumer Products GOCP.NS said on Tuesday it expects double-digit consolidated EBITDA growth in the third quarter, citing improving demand conditions.

(Reporting by Komal Salecha in Bengaluru; Editing by Shailesh Kuber)

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Oct 31 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• GODREJ CONSUMER - DEMAND TO NORMALISE IN COMING MONTHS AS TRADE CHANNELS RETURN TO NORMAL

Source text: [ID:]

Further company coverage: GOCP.NS

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Rewrites throughout, adds analyst comments in paragraph 3

By Vivek Kumar M and Kashish Tandon

Oct 14 (Reuters) - LG Electronics India LGEL.NS soared 53.4% in its trading debut on Tuesday, overtaking its South Korean parent's market value, as investors bet big on its manufacturing and retail ambitions in the country, fuelled by a surge in consumer demand.

Policy support, including India's recent tax cuts on consumer goods such as refrigerators and televisions, and a dovish central bank stance are expected to lift near-term growth for appliance makers.

The listing - the strongest for a billion-dollar IPO in India since 2021 - coincides not only with India's festive season, when spending peaks, but also comes amid a busy primary market, where favourable policies are driving a fundraising boom set to surpass last year's record $20.5 billion.

Consumption is "where LG has gotten a better response compared to other IPOs that are currently in the market", said Deven Choksey, managing director at DRChoksey FinServ.

The blockbuster $1.3 billion offering opened for bids around the same time as the year's largest IPO Tata Capital TATC.NS and office working space major WeWork India's WEWO.NS listing.

However, while LG's IPO was fully subscribed within hours of opening, attracting bids worth nearly $50 billion, both Tata Capital and WeWork logged muted demand across investor segments.

On listing day, the former rose only 1.4%, while the latter fell 3%.

"After a long time, we're seeing a genuinely strong IPO in the consumer space — solid fundamentals, reasonable valuations and sector-leading growth prospects," said Dhiraj Relli, managing director and CEO of HDFC Securities.

The country's second-biggest appliance maker has begun construction of its $600 million-manufacturing facility - its third in India - with plans to convert India into a global export hub, hugely underpinning the investor enthusiasm.

LG Electronics India's shares closed 48.2% higher at 1,689.9 rupees, after listing at 1,710.10 rupees - well above the issue price of 1,140 rupees.

The company notched a valuation of around $13 billion, surpassing its $8.73 billion target and the roughly $9 billion market value of its parent LG Electronics 066570.KS.

The IPO was a pure offer-for-sale, with the parent offloading 15% of its stake as it defends its margins in its core TV and appliance businesses from fierce Chinese competition.

Qualified institutional buyers had bid 166.5-fold their quota, while non-institutional and retail investors had subscribed 22.4 times and 3.54 times, respectively.

Institutional investors are unlikely to be satisfied with the current 5 billion–6 billion rupee allocation, Relli said, adding that they will be forced to participate aggressively beyond the listing to achieve reasonable sizing.

At least five brokerages initiated coverage on the firm, with price targets between 1,700 to 1,800 rupees.

($1 = 88.7680 Indian rupees)

(Reporting by Kashish Tandon, Vivek Kumar, Chandini Monnappa and Mridula Kumar; Editing by Janane Venkatraman)

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Oct 7 (Reuters) - Godrej Consumer Products GOCP.NS said in a second-quarter update on Tuesday that core profit in its consolidated business is likely to decline, on account of a temporary sales disruption after the government's sweeping goods and services tax cuts.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Shreya Biswas
)

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Sept 19 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• GODREJ CONSUMER PRODUCTS LTD - INFUSES USD 85 MILLION IN SUBSIDIARY GMAHL

Source text: ID:nBSE31nfr4

Further company coverage: GOCP.NS

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Adds new quotes

Sept 4 (Reuters) - India late on Wednesday announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated goods and services tax structure to two rate slabs from four, with some exceptions for luxury and "sin" goods.

The benchmark BSE Sensex .BSESN and Nifty 50 .NSEI rose as much 1.1% on Thursday. By 11:55 IST, they pared some gains and were up about 0.5% each.

Here is how the industry has reacted:

ANISH SHAH, GROUP CEO & MD, MAHINDRA GROUP

"The next-generation GST reforms... mark a defining moment in India's journey towards building a simpler, fairer and more inclusive tax system.

"At Mahindra, we view these reforms as transformative. They simplify compliance, expand affordability, and energise consumption, while enabling industry to invest with greater confidence."

SAURABH AGARWAL, PARTNER & AUTOMOTIVE TAX LEADER, EY INDIA

"The rationalization of GST rates on automotive vehicles and parts is a truly welcome and significant development. By making vehicles more affordable across all segments, this move will not only boost consumer spending but also simplify complex classification disputes that have long burdened the industry."

SAMIR SHAH, EXECUTIVE DIRECTOR & CFO, HDFC ERGO GENERAL INSURANCE COMPANY

"The GST Council decision to exempt individual health insurance from GST is a welcome development. This move aligns perfectly with the broader ambition of the regulator of 'Insurance for All by 2047,' providing a tangible step forward in that direction.

NILESH SHAH, MANAGING DIRECTOR, KOTAK MAHINDRA ASSET MANAGEMENT CO

"The GST announcement lowers inflation, increases growth, boosts consumer sentiment, doesn't disturb the path of fiscal consolidation, improves ease of doing business and partially offers adverse effects of tariffs."

SHAILESH CHANDRA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURES

"This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian automotive sector... these announcements will significantly benefit first-time buyers and middle-income families, enabling broader access to personal mobility."

C S VIGNESHWAR, PRESIDENT, FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS

"This is a decisive step that will boost affordability, spur demand, and make India's mobility ecosystem stronger and more inclusive.

"One area that may need earliest clarification is about levy and treatment of cess balances currently lying in dealers' books, so that there is no ambiguity during transition."

SANJEEV ASTHANA, CEO, PATANJALI FOODS LIMITED

"At Patanjali Foods, we are fully committed to passing on these benefits to our consumers. This initiative will not only enhance FMCG penetration across urban and rural India but also act as a catalyst for broader economic revival... categories such as ghee, soaps, biscuits, noodles, honey, and chyawanprash will benefit from this reduction."

RADHIKA RAO, SENIOR ECONOMIST AT DBS BANK

"Lower GST rates will be positive for growth in the second half of the year and FY27, besides improving operational efficiency and expanding the size of the formal economy."

SHRIPAL SHAH, MD & CEO, KOTAK SECURITIES

"The GST rate cuts ... should directly boost demand, help traders and businesses see higher volumes, and may even favourably impact next quarter's earnings... The key will be how quickly companies pass on the benefits to customers."

DEVARSH VAKIL, HEAD OF PRIME RESEARCH, HDFC SECURITIES

"The GST reforms represent a paradigm shift toward economic rationality... Combined with RBI rate cuts, FY26 income tax rebates and moderating inflation, these reforms create multiple stimuli for consumption and economic growth."

SUDARSHAN VENU, CHAIRMAN, TVS MOTOR COMPANY

"It's a welcome move as it will help two wheelers become more accessible and also help those looking to upgrade."

NEERAJ AKHOURY, PRESIDENT, CEMENT MANUFACTURERS' ASSOCIATION AND MANAGING DIRECTOR, SHREE CEMENT

"Bringing GST down to 18% corrects a long-standing anomaly, aligns cement with other core building materials and enhances global competitiveness."

NITIN RAO, CEO, INCRED WEALTH

" (I am ) positive this will play out, though a small concern remains where recent measures like the rate cuts and budgetary measures taken on reduced taxes have not created the necessary consumption boosters."

RAHUL SINGH, CIO-EQUITIES, TATA ASSET MANAGEMENT

"The GST rate rationalisation, following the income tax cuts and lower interest rates, is a serious effort to boost consumption and hence the overall economic growth outlook.

"While the direct beneficiaries include consumer, autos, cement, healthcare and insurance sectors, the second order beneficiaries in terms of growth will be retail banks & NBFCs."

RAJNEESH KUMAR, CHIEF CORPORATE AFFAIRS OFFICER, FLIPKART GROUP

"By lowering input costs for farmers, simplifying compliance for MSMEs and enabling small sellers, artisans/weavers and smallholder farmers to seamlessly join e-commerce across states, these reforms will further strengthen India's growth engine."

SHEETAL ARORA, CEO, MANKIND PHARMA

"By removing GST on lifesaving rare-disease and oncology therapies and reducing it on essential medicines and diagnostics, the government has signalled that affordability and innovation can go hand in hand."

AMIT PAITHANKAR, CEO OF WAAREE ENERGIES

"The reduction will lower project costs and accelerate the capacity addition needed to meet India’s clean energy targets."

ARNAB BANERJEE, MD & CEO, CEAT

"By addressing a long-standing demand of the industry, the Council has not only provided a boost to the automotive ecosystem but also created room for greater formalisation, compliance, and sustainable growth in the sector."

SHENU AGARWAL, MD & CEO, ASHOK LEYLAND

"The specific relief for the commercial vehicle industry is especially welcome. On one hand, it will spur freight traffic, and on the other, it will bring down the cost of buses and trucks."

AASIF MALBARI, CHIEF FINANCIAL OFFICER, GODREJ CONSUMER PRODUCTS LTD

"This is a positive trigger for demand and a strong driver of volume growth. This move will ultimately contribute to overall economic momentum. We are fully committed to ensuring that the GST rates reduction benefits are passed on to consumers."

VENKATRAM MAMILLAPALLE, MANAGING DIRECTOR, RENAULT INDIA

"We believe the reform will accelerate rural and urban demand alike, boost manufacturing and contribute strongly to India's economic momentum."

UNSOO KIM, MANAGING DIRECTOR, HYUNDAI MOTOR INDIA

"The GST overhaul will directly benefit the automotive sector. The announced reforms align seamlessly with the government's commitment to Viksit Bharat and the Make in India initiative, encouraging domestic manufacturing and boosting demand across both urban and rural markets."

(Reporting by Chandini Monnappa, Bharath Rajeswaran, Manvi Pant, Kashish Tandon, Meenakshi Maidas, Nandan Mandayam, Yagnoseni Das, Vivek Kumar M and Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)

(([email protected]; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))

** Shares of Godrej Consumer Products GOCP.NS rise as much as 6% to 1,264 rupees rupees

** FMCG co will deliver Q1 Y/Y India rev growth in high-single digits, consol rev growth in double-digits

** Goldman Sachs sees strong volumes, EBITDA growth over next 2–3 years, driven by a turnaround in the home insecticides and fabric care divisions, margin gains from lower input costs

** Macquarie expects 5% volume growth for co in Q1, EBITDA to rise 7% Y/Y

** Nomura sees recent softness in palm oil supporting co's Q/Q margin improvement from Q2

** Mean rating on stock is "buy"; median PT 1,394 rupees - data compiled by LSEG

** GOCP last up 4.7%, adding to YTD gains of 10.2%

(Reporting by Meenakshi Maidas in Bengaluru)

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Updates throughout with Godrej Consumer outlook

July 4 (Reuters) - Honey-to-packaged juice maker Dabur India DABU.NS expects first-quarter operating profit growth to marginally lag a low single-digit rise in revenue, while peer Godrej Consumer said its core profit margin will be below its targeted range.

Dabur's quarterly earnings will be hurt by weaker beverage sales caused by unseasonal rains and a shorter summer, it said in a statement on Friday.

In the first quarter of its fiscal 2024-2025 financial year, the company's operating profit rise of 8.3% was higher than its revenue growth of 7%.

India's consumer goods sector has been under pressure in urban markets for several quarters as customers reeling from high costs of living cut back on discretionary purchases.

Separately, Godrej said on Friday its first-quarter standalone earnings before interest, taxes, depreciation and amortization margin would be below its target range, but were expected to improve. The company has also been dealing with volatile palm oil prices, which have hurt its personal care segment that sells soaps.

It said palm oil prices started moderating towards the end of June, and the benefits will be realized in the second half of fiscal year 2026. The company is, however, on track to deliver high-single digit consolidated revenue growth and double-digit consolidated EBITDA growth for the year, it added.

Dabur said the Indian consumer goods sector experienced sequential recovery in demand in the first quarter ended June, with an uptick in volume growth.

It said it was planning to focus on its 'Activ' juices, which contain no added sugar or preservatives, to capitalize on the rising trend of middle-class Indians becoming more health conscious. Beverages made up 17% of its revenue in fiscal year 2025.

(Reporting by Hritam Mukherjee and Ananta Agarwal in Bengaluru; Editing by Sonia Cheema and Emelia Sithole-Matarise)

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May 6 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• GODREJ CONSUMER PRODUCTS Q4 CONSOL NET PROFIT 4.12 BILLION RUPEES; IBES EST. 4.82 BILLION RUPEES

• GODREJ CONSUMER PRODUCTS Q4 CONSOL SALE OF PRODUCTS 35.78 BILLION RUPEES

• GODREJ CONSUMER - DIVIDEND 5 RUPEESPER SHARE

Further company coverage: GOCP.NS

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By Praveen Paramasivam

April 16 (Reuters) - Indian dairy firm Heritage Foods HEFI.NS will increase the prices of its products this financial year to offset rising costs such as fuel and raw material expenses, its CEO told Reuters.

Consumer goods majors, including Nestle India NEST.NS and Cinthol soapmaker Godrej Consumer Products GOCP.NS, are hiking prices to battle a double whammy of a slowdown in consumer spending and higher costs.

"The price increase will be across the board, not specifically on milk," Heritage CEO Srideep Kesavan said last week. "It will also be on paneer and other dairy products ... in line with covering our costs increase."

A one-litre pouch of Heritage toned milk is priced at 53 rupees (62 U.S. cents). The company intends to increase the price by 1 to 2 rupees, or 2%-4%, in the financial year that started on April 1.

In comparison, the prices of milk and milk products in India rose 2.6%-2.9% in the January-March quarter, still below the broader inflation rate, according to government data.

Heritage, which mainly caters to the Southern states, raised milk prices earlier this year, its first increase in nearly two years.

It also plans to expand its footprint this year to 350,000 stores from 250,000 currently, including deeper growth in existing markets such as Chennai.

PROTEIN DEFICIENCY IN INDIA

Dairy brands, from Amul to Milky Mist, have lately been highlighting the amount of protein on packages of everything from cottage cheese to curd as affluent Indians strive to meet daily protein requirements.

Surveys indicate a majority of Indians have a protein-deficiency due to a largely vegetarian diet.

But Heritage, according to Kesavan, will focus more on maintaining the taste of its products rather than reformulating its products to add more protein.

"Taste is more important than loud claims," he said.

($1 = 85.9450 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Sonia Cheema)

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By Praveen Paramasivam

CHENGALPATTU, India March 10 (Reuters) - India's Godrej Consumer Products GOCP.NS will keep raising prices of its soaps gradually to protect margins amid rising palm oil prices, the consumer goods maker's top boss said on Monday.

Palm oil prices have surged in recent months due to floods in top producers Indonesia and Malaysia, forcing consumer goods makers, including Dove soapmaker Hindustan Unilever HLL.NS and Cinthol owner Godrej Consumer, to raise prices.

"We have not recovered the full extent of the costs yet," Godrej Consumer CEO Sudhir Sitapati told Reuters in the southern Indian state of Tamil Nadu.

It would take 2-to-3 quarters to widen margins, but the company will not push up prices suddenly, the CEO said.

Sitapati does not expect the price hikes to have an impact on sales as palm oil-based products, including soap, tend "not to be discretionary" goods that consumers can forgo.

Soaps make up about a fifth of Godrej Consumer's revenue.

Middle-class Indians, particularly city dwellers, have been cutting spending on everything from cookies to fast food due to elevated inflation and slowing economic growth.

The impact of palm oil prices on margins of larger rival Hindustan Unilever, which has been reformulating its soaps to cut the use of palm oil, is lower, analysts have said.

Godrej Consumer's CEO ruled out reformulating soaps to reduce the use of palm oil.

The company's gross margin narrowed 175 basis points during the October-to-December period from a year earlier, the first shrinkage in two years, as prices of palm oil surged.

(Reporting by Praveen Paramasivam in Chengalpattu; Editing by Mrigank Dhaniwala)

(([email protected]; +91 867-525-3569;))

Adds consumer, trade body and company reaction; updates shares

By Praveen Paramasivam and Sai Ishwarbharath B

CHENNAI/BENGALURU, Feb 1 (Reuters) - India's plans to cut personal income tax rates will put more disposable income in the hands of the people and eventually boost consumption in the world's fifth-largest economy, top executives said on Saturday.

The comments came after the government in its annual budget said that people earning up to 1.28 million rupees ($14,800) per year will not have to pay any taxes, raising its threshold from 700,000 rupees. It also cut tax rates for people earning above the new threshold.

Private consumption accounts for about 60% of India's gross domestic product.

Consumption in India has been under stress in the last few quarters as shoppers tightened their purse strings amid stubborn inflation and modest wage growth.

"Tax reforms benefiting the middle class will increase disposable income, further fuelling demand across essential and aspirational categories," Godrej Consumer Products' GOCP.NS CFO Aasif Malbari said.

The news boosted the shares of consumer goods .NIFTYFMCG, autos .NIFTYAUTO and realty .NIFTYREAL firms by 4.1%, 2.1% and 3%, respectively. It also pushed the shares of food delivery firms Zomato ZOMT.NS and Swiggy SWIG.NS 7.8% and 8.7% higher, respectively.

The government's plan is estimated to help around 25-30 million personal tax payers save about 100,000 rupees annually, according to Kamal Bali, managing director of Volvo Group India.

"It will boost discretionary capital spends like buying a vehicle. (People) will have better repaying capacity for EMIs," Bali told Reuters.

Others echoed the sentiment.

"The tax cut is going to be a helpful factor in accelerating demand for various kinds of consumer products," RC Bhargava, chairman of Maruti Suzuki India MRTI.NS, India's top carmaker, told TV channel ET Now.

The Federation of Automobile Dealers Associations (FADA), a trade body, expects the government's plan to make car upgrades affordable to more middle-class families, leading to higher demand for SUVs, sedans, and premium two-wheelers.

Some consumers welcomed the news.

"I would have one less stressful obligation since I would no longer have to pay taxes," Chennai-based software engineer S. Surya said, adding he planned to use the money he saved "on higher-quality essentials and restaurant visits".

Some others were less thrilled.

"They haven't reduced goods and services tax or petrol prices," Pranav Charan, another engineer, lamented.

($1 = 86.5360 Indian rupees)

(Reporting by Praveen Paramasivam, Sai Ishwarbharath B and Nishit Navin; Editing by Dhanya Skariachan and Sonia Cheema)

(([email protected]; +91 867-525-3569;))

** Shares of Godrej Consumer Products GOCP.NS fall 2.6% to 1,101 rupees after co's Q3 report

** Co's Q3 profit of 4.98 bln rupees ($57.66 million) below analysts' estimate of 5.39 bln

** Despite 3% rev growth, underlying volumes flat y/y on prolonged slowdown in urban demand and price hikes

** With session's loss, stock extends 12-month decline to ~4% vs 1.72% gain in the Nifty consumer goods index .NIFTYFMCG

** GOCP rated 'buy' on avg by 32 analysts; median PT at 1385 rupees - as per data compiled by LSEG

($1 = 86.3740 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

Jan 24 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• Q3 CONSOL NET PROFIT 4.98 BILLION RUPEES; IBES EST. 5.39 BILLION RUPEES

• Q3 CONSOL SALE OF PRODUCTS 37.49 BILLION RUPEES

• DIVIDEND 5 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: GOCP.NS

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