MPW 2023: How Nisaba Godrej is expanding the presence of Godrej Consumer Products

Amid a challenging business environment marred by subdued consumer demand, a volatile commodities market and geopolitical unrest in key markets, Nisaba Godrej has not only led Godrej Consumer Products Ltd (GCPL) on a growth trajectory, but also made some bold moves. Godrej—who is a part of BT’s Most Powerful Women in Business list in 2023—has spearheaded the acquisition of two popular brands, Park Avenue and KamaSutra, from Raymond Group. The Rs 2,825-crore deal not only marks the Godrej Group’s foray into two rapidly growing categories —deodorants and sexual wellness—but also offers a multi-decadal double-digit sales growth opportunity. The deal has also boosted the company’s fortunes at the bourses, with its market capitalisation jumping beyond the Rs 1 lakh crore mark for the first time in 2023.

But despite the tough overall operating environment, Godrej has continued to lead GCPL to deliver high single-digit growth in its top line in the first half of FY24. Its operating revenues have surged 8.2 per cent to Rs 6,986 crore between April and September, as international markets delivered sales growth in the mid-teens (in constant currency terms). To augment its performance in the domestic market, the company is now looking to strengthen its presence in south India, with a new plant in Tamil Nadu with a capital investment of Rs 515 crore.