Expect better growth rate going ahead: Godrej Consumer

A Mahendran, MD, Godrej Consumer Products, says that the company has been reporting a very good growth rate which is above the category and markets for last two years. He also says that the company is confident to maintain a growth rate of 35 percent as of today.

Below is the edited transcript of his interview to CNBC-TV18.

Q: How much growth do you expect in this and next year considering that you have some imponderables which investors will not be able to gage? For instance, multi-brand retail is here, even if it is in pockets, it will mean you have more places, more outlets for your products, how do you look at growth, will it be stepped up in the historical growth that we have seen in Godrej Products?

A: Godrej Consumer Products has been reporting very good growth rate above the category and market for the last two-three years. We will maintain that growth. I think next year, as you say so, a slight slowdown in consumption in the current quarter will get facilitated by the opening of the FDI. We have a good market share and good relationship with our current retail chain. The growth rate is good in the retail sector and we hope to post good growth numbers going ahead. 

Q: Are you looking to maintain 35 percent growth rate or more?

A: As on today we are confident to maintain the same growth rate.

Q: Last quarter your margins took a bit of a hit on the back of increased ad spends. In this quarter have we seen a similar increase in ad spends maybe due to other launches which could keep your margins subdued at the levels we saw last quarter?

A: For this quarter we will maintain the ad send level, because when we did some launches in the last quarter, we need to maintain the spend levels. But at the same time, the margins are pretty good. Recent softening of commodity prices has also helped. But as an FMCG brand player and when you get into a new product launches etc, you need to maintain the momentum. Otherwise, one will not get real benefit of the new product launches.

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