Godrej Consumer Prod

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

Further company coverage: GOCP.NS

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

• GODREJ CONSUMER - EXPECTS DOUBLE-DIGIT UNDERLYING SALES GROWTH AND HIGH-SINGLE DIGIT UNDERLYING VOLUME GROWTH IN Q4 FY26

• GODREJ CONSUMER - EXPECTS STANDALONE EBITDA MARGINS TO SUSTAIN WITHIN NORMATIVE RANGE IN Q4 FY26

• GODREJ CONSUMER - EXPECTS 6-9% COST HIT FROM BRENT CRUDE AT $100-110 AND PALM AT 4500-4800 MYR

• GODREJ CONSUMER - AT CONSOLIDATED LEVEL, WE EXPECT EBITDA GROWTH BROADLY IN LINE WITH REVENUE IN Q4

• GODREJ CONSUMER - EXPECTS CLOSE TO DOUBLE-DIGIT CONSOLIDATED REVENUE GROWTH IN Q4 FY26

• GODREJ CONSUMER - EXPECT SUSTAINED INFLATION INTO FIRST HALF OF FY27

• GODREJ CONSUMER - POLICY TAILWINDS INCLUDING TAX RELIEF TO HELP OFFSET IMPACT OF CRUDE LED INFLATION IN FY27

Source text: ID:nBSEbMGPqT

Further company coverage: GOCP.NS

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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) - Godrej Consumer Products Ltd GOCP.NS:

• AT CONSOLIDATED LEVEL, EXPECT CLOSE TO DOUBLE-DIGIT REVENUE GROWTH IN RUPEES TERMS, DOUBLE-DIGIT EBITDA GROWTH FOR QUARTER

• DEMAND CONDITIONS STRENGTHENED PROGRESSIVELY DURING QUARTER

• STANDALONE BUSINESS POSITIONED TO DELIVER DOUBLE-DIGIT REVENUE GROWTH FOR QUARTER

Further company coverage: GOCP.NS

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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)

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** 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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July 4 (Reuters) - Godrej Consumer Products Ltd GOCP.NS:

• Q1 STANDALONE BUSINESS EXPECTS HIGH-SINGLE DIGIT VALUE GROWTH

• Q1 HOME CARE BUSINESS EXPECTS DOUBLE-DIGIT VALUE GROWTH

• WE EXPECT PERFORMANCE TO IMPROVE SEQUENTIALLY IN FY26

• STANDALONE EBITDA MARGIN IN Q1FY26 LIKELY BELOW NORMATIVE RANGE

• Q1 CONSOLIDATED LEVEL EXPECTS DOUBLE-DIGIT INR REVENUE GROWTH

• GAUM BUSINESS TO DELIVER STRONG DOUBLE- DIGIT VALUE GROWTH FOR 2ND CONSECUTIVE QUARTER

Source text: ID:nNSE92j4kB

Further company coverage: GOCP.NS

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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)

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Recasts; adds comments, stock move and backgrounds

By Nikunj Ohri, Shivangi Acharya and Sarita Chaganti Singh

NEW DELHI, Feb 1 (Reuters) - India slashed personal tax rates in its annual budget on Saturday, as the world's fifth largest economy focuses on boosting domestic demand amid uncertainty over the global economic outlook due to potential new tariff barriers.

The world's most populous country is expected to post its slowest growth in four years next year amid frail urban demand and weak private investment, while stubbornly high food inflation has dented disposable incomes.

The government said people earning up to 1.28 million Indian rupees ($14,800) per year will not have to pay any taxes, raising its threshold from 700,000 rupees. It also lowered tax rates for people earning above the new threshold.

"The new structure will reduce taxes on middle class and leave more money in their hands, boosting household consumption, savings and investment," Finance Minister Nirmala Sitharaman said in parliament.

The move will result in an annual 1 trillion Indian rupee ($11.6 billion) hit to Treasury revenues.

Measures to assist the poor, youth, farmers and women were also included in the budget for 2025-26, Sitharaman said.

Increasing living costs have weighed on the popularity of Prime Minister Narendra Modi, with one survey showing more Indians are becoming less hopeful about their quality of life.

Per capital income is around $2,700 for India's population of 1.4 billion, with about one-third considered middle class.

The tax cut is "likely to spur consumer demand and savings by the middle class that has faced challenges from elevated inflation and lower income growth," Sakshi Gupta, economist at HDFC Bank.

The move led to a rally in consumer stocks such as Maruti Suzuki MRTI.NS, Godrej Consumer Products GOCP.NS and Prestige Estates PREG.NS, which jumped by 4% to 8%.

To balance the revenue lost, the government has budgeted for a modest increase in capital spending this year, which will rise to 11.21 trillion rupees in 2025-26 compared to a lowered 10.18 trillion in the current year.

The modest infrastructure spending increase disappointed investors in the sector and stocks of firms including Larsen & Toubro LART.NS, NBCC NBCC.NS, IRB Infra IRBI.NS and KEC International < KECL.NS> were down between 1% and 6%.

The government expects to improve its finances, targeting a fiscal deficit of 4.4% of GDP in 2025-26, down from a revised 4.8% of GDP in the current year.

It will borrow 14.82 trillion Indian rupees via the bond markets to fund this year's fiscal deficit.

The government, however, refrained from pre-empting the impact of potential tariffs from U.S. President Donald Trump on India and focussed on lowering some input costs for industries that have been raising output such as electronics and

renewables.

FOCUS ON FARM, MANUFACTURING AND FINANCIAL SECTOR

India has faced a bout of high food inflation over the past year due to weather changes impacting output.

To boost productivity across the farm sector, the government will launch a national mission to push high-yielding crops, with a special focus on pulses and cotton production.

To help farmers, the limit for subsidised credit has been raised to 500,000 Indian rupees ($5,778) from 300,000 rupees earlier.

The government will also launch missions to push manufacturing and exports, Sitharaman said, without going into details.

India has long aimed to boost the share of manufacturing and exports in its economy but has had little success. The share of manufacturing in the economy has remained close to 17%, short of its long-standing goal of 25%.

To deepen the penetration of insurance in the economy, the foreign direct investment limit on insurance was raised to 100% from 74% currently.

($1 = 86.5360 Indian rupees)

(Reporting by Shivangi Acharya and Nikunj Ohri in New Delhi; Writing by Ira Dugal and Aftab Ahmed; Editing by Lincoln Feast)

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** 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)

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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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By Divya Chowdhury and Praveen Paramasivam

DAVOS, Switzerland, Jan 20 (Reuters) - India's economic slowdown is not expected to show up in the country's housing market, Godrej Industries Group Chairperson Nadir Godrej said in an interview on Monday.

Godrej, an Indian conglomerate which mainly targets the "middle category" of India's housing sector, is keeping a close watch on its debt given the cyclical nature of the business and is hopeful of riding out a potential down cycle, he added.

India forecast its slowest economic growth in four years for the year ending March, weeks after the country's central bank lowered its growth outlook for the next financial year.

Middle class Indians in the country's major cities are already cutting spending due to persistent inflation.

A slowdown is not evident in the housing sector, which struggles during downturns, and nor is one imminent, Godrej told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

A Reuters poll published last month forecast house prices in India will rise steadily over the coming years, driven mainly by demand from wealthy individuals. But rising inflation will make owning a property unattainable for most.

Godrej's group, which has annual revenue of more than $6 billion, includes Godrej Properties GODR.NS as well as animal feed and vegetable oil manufacturer Godrej Agrovet GODE.NS and Cinthol soapmaker Godrej Consumer Products GOCP.NS.

Godrej said India's rural economy is improving due to an increase in consumption in villages.

(Join GMF, a chat room hosted on LSEG Messenger, for live interviews: https://lseg.group/4ajdDTy)

(Reporting by Divya Chowdhury in Davos and Praveen Paramasivam in Chennai; Editing by Alexander Smith)

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Corrects media packaging code; no changes to text

By Sethuraman N R

Dec 9 (Reuters) - Shares of India's Godrej Consumer Products GOCP.NS slumped 9% on Monday, set for their worst day since March 2020 and dragging down its peers in the fast moving consumer goods sector after the firm warned of stress on demand and profit margins in the third quarter.

The stock fell to its lowest since Jan. 18, its biggest one-day percentage drop since the onset of the pandemic. The decline dragged down the consumer goods index .NIFTYFMCG by 2.2%. The benchmark Nifty 50 .NSEI was down about 0.1% on the day.

Including Monday's decline, the consumer index has shed about 14% so far this quarter and is set for its worst ever quarterly performance as Indian consumer companies continue to feel the pinch of still-high inflation and a consequent fall in demand.

Godrej Consumer said on Friday that two-thirds of its India business is under demand and margin stress due to higher raw material costs and unfavourable weather.

The company's update will "likely add to investor concerns" on the consumer industry as a whole, which has been facing a slowdown, Jefferies said in a note.

To partly offset higher costs in palm oil, a key ingredient for Godrej's soap business that contributes one-third to its standalone revenue, the company undertook measures including price increases during the quarter.

"Such pricing actions typically have minimal impact on category consumption but do result in reduced inventory across wholesale and household pantry," Godrej said.

The warning by Godrej will also impact peers, Jefferies said, adding that recent analyst meetings with Hindustan Unilever HLL.NS and Colgate-Palmolive India COLG.NS have not provided confidence about a recovery in consumption.

(Reporting by Sethuraman NR; Editing by Sonia Cheema)

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

• GODREJ CONSUMER - SEES STANDALONE BUSINESS TO REPORT AROUND FLATTISH UVG , MID-SINGLE DIGIT SALES GROWTH IN Q3

• GODREJ CONSUMER - SEES TEMPORARY DOWNWARD BREACH OF NORMATIVE MARGINS IN Q3 FOR STANDALONE

• GODREJ CONSUMER - SEES FOURTH CONSECUTIVE QUARTER OF HEALTHY EBITDA MARGINS FOR GAUM REGION IN Q3

Source text: ID:nBSE6ymCzx

Further company coverage: GOCP.NS

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By Praveen Paramasivam, Shivangi Acharya

CHENNAI/NEW DELHI, Nov 13 - India's city dwellers are cutting spending on everything from cookies to fast food as persistently high inflation squeezes middle class budgets, threatening the country's brisk economic growth.

Slowing urban spending over the past three to four months has not only hurt the earnings of largest consumer goods firms, it has raised questions about the structural nature of India's long-term economic success.

Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing.

"There is a top end – the people with money are spending like that is going out of style," Nestle India Chairman Suresh Narayanan said.

"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods (FMCG) firms used to operate in, which is the middle class of the country, that seems to be shrinking."

Nestle India, which makes Kit Kats and other well-known goods, reported its first quarterly revenue drop since the COVID-hit June quarter in 2020.

While there is no officially defined income bracket for Indian middle class households, they are broadly estimated to account for a third of India's 1.4 billion people.

They are considered a key demographic both economically and politically, with middle class frustration seen as a significant factor behind Prime Minister Narendra Modi's weaker election performance this year.

Asia's third-largest economy is expected to expand 7.2% in the financial year ending March 2025, the fastest among its major peers.

Belying those rosy projections, however, are signs of a sharp slowdown in the household sector.

Indian urban consumption hit a two-year low this month, according to an index published by Citibank that captures indicators such as airline bookings, fuel sales and wages.

"While some of the fall could be temporary, the key macro drivers remain unfavourable," Citi's chief India economist Samiran Chakraborty said.

Growth in inflation-adjusted wage costs for listed Indian firms - a proxy for earnings of urban Indians - has remained below 2% for all the three quarters of 2024, well below the 10-year average of 4.4%, data from Citi showed.

Chakraborty cites this as a key factor impacting urban consumption, along with declining savings and tighter rules for personal loans.

Headline inflation has averaged 5% over the past 12 months, but food inflation has held above 8% as weather shocks elevated prices of vegetables, cereals and other essential foods. In October, retail inflation hit a 14-month high of 6.2% while food prices jumped to 10.9%.

Anecdotal data suggests retail sales rose close to 15% year-on-year during the 2024 festive season, which runs from August to November, Nomura said in a note last week, about half last year's pace.

"During this festival season, we have not spent at all," said Rajwanti Dahiya, 60, who survives on her husband's monthly pension of 30,000 Indian rupees ($356.76).

"Savings are low, barely there."

A 'SHRINKING' MIDDLE

India's central bank expects 7.2% GDP growth for the fiscal year ending March 2025 on the back of improved rural demand and a strong services sector.

Higher government investment could also support demand, said Rahul Bajoria, head of India and ASEAN economic research at Bank of America.

"If government spending kicks in, that probably does have some multiplier effects on private consumption spending as well," said Bajoria, who expects GDP growth at 6.8% in the current financial year.

Some are less optimistic with Citi and IDFC First Bank economists expecting GDP growth in the July-September quarter to miss the central bank's projected 7%, weighed by slower urban consumption.

That pessimism has hit consumer stocks with the Nifty FMCG index .NIFTYFMCG declining 13% since Oct. 1, compared with a 7.4% drop in the benchmark Nifty 50 .NSEI.

Of the FMCG index's 15 constituent firms, only one reported a pickup in sales volume growth in the September quarter.

Consumers in large cities are swapping branded items from hair oil to tea for cheaper unbranded alternatives, reflected in the first sales volume decline in 11 quarters for the foods and refreshment group at Hindustan Unilever.

"We see the growth in big city standing down, although in smaller cities and in rural the growth continues to be good," Hindustan Unilever chief executive Rohit Jawa said last month, after reporting lower than expected earnings.

Consumers are also cutting back on dining out.

Fast-food chains such as McDonald's, Burger King, Pizza Hut and KFC posted same-store sales declines, earnings showed.

While people are still coming, they are choosing cheaper meals, Rajeev Varman, CEO at Burger King operator Restaurant Brands Asia RESR.NS said after posting a 3% drop in quarterly same-store sales.

"We prefer budget-friendly stores that give good deals and discounts to manage our monthly expenditure," said 37-year old Avinash Crasto, a Mumbai marketing and sales executive who has a family of four and identifies as middle class.

($1 = 84.0640 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Shivangi Acharya in New Delhi; Editing by Sam Holmes)

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

• GODREJ CONSUMER PRODUCTS Q2 CONSOL NET PROFIT 4.91 BILLION RUPEES; IBES EST. 4.86 BILLION RUPEES

• GODREJ CONSUMER PRODUCTS Q2 CONSOL SALE OF PRODUCTS 36.47 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: GOCP.NS

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

• GODREJ CONSUMER PRODUCTS Q1 CONSOL NET PROFIT 4.51 BILLION RUPEES; IBES EST. 4.92 BILLION RUPEES

• GODREJ CONSUMER PRODUCTS Q1 CONSOL SALE OF PRODUCTS 33.11 BILLION RUPEES

• GODREJ CONSUMER - DIVIDEND 5 RUPEES PER SHARE

• GODREJ CONSUMER - GCPL TO INVEST 5 BILLION RUPEES OVER 5 YEARS IN UNIT FOR PET CARE BUSINESS

• GODREJ CONSUMER - GCPL PLANS TO COMMENCE PET FOOD BUSINESS PRODUCTION IN SECOND HALF OF FY 2026

• GODREJ CONSUMER - GODREJ PET CARE TO HAVE MANUFACTURING AGREEMENT WITH GAVL

• GODREJ CONSUMER - APPROVED ENTRY OF CO INTO NEW BUSINESS - PET CARE, THROUGH UNIT

Further company coverage: GOCP.NS

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