Speaking to CNBC-TV18 from the sidelines of three-day Kotak Conference, Adi Godrej says the advertisement spending is likely to remain at elevated levels. The company is confident of delivering strong bottomline growth going ahead.
Adi Godrej, Chairman, Godrej Group expects rural growth to be good in coming days. According to him, the household insecticides demand robust in rural areas with fruit and vegetable output strong despite not-so-good monsoon.
Speaking to CNBC-TV18 from the sidelines of three-day Kotak Conference, Godrej says the advertisement spending is likely to remain at elevated levels. The company is confident of delivering strong bottomline growth going ahead.
Godrej is expecting a growth-oriented Budget on February 28. He expects Finance Minister Arun Jaitley to reduce rates on Minimum Alternate Tax (MAT). He also wants the government to take some action on subsidies, divestment opportunities and provide more incentives to spur manufacturing.
Below is verbatim transcript of the interview:
Q: We have talked in depth about your earnings just a couple of days ago, what is the situation as far as discretionary spends are concerned because when we speak to a whole host of fast moving consumer goods (FMCG) players, they indicate that the worst is not over as far as the slowdown in discretionary spends is concerned. What is the sense you are getting about the next six months?
A: We are seeing good improvement in offtake in Godrej Consumer products. Our Q3 figures were much better than the earlier two quarters. We feel our second half growth will be much better than the first half growth and the next financial year will be even better.
We are seeing an improvement in demand in almost all our categories with each one of our major categories growing in double digits in the last quarter and we are doing quite well even in rural offtake.
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