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<keyword id="152630" type="DOMAIN" weightage="20" keywordseo="godrej-consumer-products-ltd" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="godrej consumer products ltd" meta.entityname="Godrej Consumer Products Ltd." meta.entityid="1908" meta.seoname="godrej-consumer-products-ltd">Godrej Consumer Products Ltd</keyword> on Tuesday reported a 3.55 per cent rise in <keyword id="1009537" type="General" weightage="80" keywordseo="consolidated" source="Orion">consolidated</keyword> profit after tax at Rs 546.34 crore in the third quarter that ended December 31, 2022. The company had posted a consolidated profit after tax of Rs 527.6 crore in the same period last fiscal, Godrej Consumer Products Ltd (GCPL) said in a regulatory filing. Consolidated total revenue from operations during the quarter under review stood at Rs 3,598.92 crore as against Rs 3,302.58 crore in the year-ago period, it added. Total expenses were higher at Rs 2,969.52 crore as compared to Rs 2,714.32 crore in the same quarter a year ago, the company said. "We delivered an all-round performance in 3Q FY 2023. Overall sales grew by 9 per cent and we witnessed a sharp sequential uplift in underlying volume growth," GCPL Managing Director and CEO <keyword id="1557780" type="General" weightage="80" keywordseo="sudhir-sitapati" source="Orion">Sudhir Sitapati</keyword> said. The company had broad-based growth across geographies with India delivering double-digit sales growth of 11 per cent, he said, adding <keyword id="12925" type="General" weightage="50" keywordseo="africa" source="Orion">Africa</keyword>, USA and <keyword id="30350" type="General" weightage="50" keywordseo="middle-east" source="Orion">Middle East</keyword> business continued its strong growth trajectory, growing at 14 per cent in rupee terms and 23 per cent in constant currency terms. "Performance in our Indonesian business is gradually recovering, declining by 3 per cent in rupee and constant currency terms," Sitapati added. On the outlook, he said, "With commodity pressures abating, we expect a gradual recovery in consumption, expansion in gross margins, upfront marketing investments with a significant focus on reducing controllable costs and improvement in profitability in the coming quarters." GCPL continues to have a healthy balance sheet and is also net cash positive, Sitapati said, adding, "we are on track in our journey to reduce inventory and wasted cost and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-may-remain-under-depreciation-pressure-says-economic-survey/articleshow/97484894.cms">Rupee may remain under depreciation pressure, says Economic Survey</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/to-not-police-childrens-creativity-moms-create-child-friendly-art-products-find-investors-on-shark-tank-india/articleshow/97480472.cms">To not ‘police’ children’s creativity, moms create child-friendly art products &amp; find investors on Shark Tank India</a>

Godrej Consumer Products Q3 profit rises 3.5% to ₹546 crore

New Delhi, Jul 15 () Over a century after making its first soap in 1918 during the Spanish flu pandemic, becoming the first company in the world to produce soap using vegetable oil instead of animal fat, Godrej Consumer Products Ltd (GCPL) is looking at 2020 as its 'second beginning', according to the company's executive chairperson Nisaba Godrej. Addressing shareholders in the company's annual report for 2019-20, Godrej described COVID-19 pandemic as "a health, humanitarian and economic crisis of epic proportions to contend with" for which the company would "need to do more of what we do and do it even better". Stressing that the company will not be deterred by the current crisis, she said, "Godrej was founded in a crisis; as part of India's freedom and swadeshi movement in 1897, and also during the bubonic plague that year." "We first made soap in 1918 (also the first soap in the world to be made from vegetable oil and not animal fat) during the Spanish flu pandemic. So, as we see it, 2020 could be our 'second beginning' for the next 123 years of Godrej." Reiterating the company's resolve Godrej said, "While we don't get to choose market conditions or the intensity of our competitors, and certainly not a global pandemic, we do choose our attitude in the face of these." She said "there is no denying that this is a bad situation. But, we are also fortunate that GCPL is an FMCG company with a robust portfolio to deliver in a COVID-19 world." 80 per cent of the company's product portfolio comprises health (household insecticides), hygiene, and value for money products, Godrej said, adding that "many of our innovations have started playing out fully in the last couple of months and we have seen high growth in household insecticides and hygiene." Admitting that the company's performance in 2019-20 "was not good", she said sales declined around 4 per cent and profit before tax (pre-exceptions) was flat. March 2020 was particularly impacted by the spread of the COVID-19 pandemic and the eventual lockdown in many geographies where the company operates. This resulted in virtually no sales in the latter part of the month, she added. In order to overcome the challenge of the current health crisis, she said, "The excellence we will require now, going against water rather than with water, to perform and take market share, means a significant step up in ways we probably haven't even realised yet." Godrej said 2020 will be the "Year of Resurgence" for GCPL's household insecticides business. "This is our largest and most critical category globally. We are going where the consumer demand is and the demand is to protect their health. We see this as a long-term area of focus," she added. Although the company struggled initially to meet demand, which has been very strong in the last couple of months, Godrej said, "We are scaling up our supply systems and have never had stronger portfolios across price points and formats, in India and Indonesia, to serve this." The company is also making a foray into this category in Africa, where it is still underserved, she added. In response to COVID-19, GCPL had launched sanitiser products across India and SAARC, Indonesia, Africa, Latin America, and US in just a few weeks. "In many of these markets, it was the first time we were entering the category. We will now be scaling these up into full portfolios with multiple product offerings," she said. Stating that India and Indonesia make up roughly 70 per cent of the company's overall business, she said, "There are significant opportunities for growth here, especially given the current consumer demand trends, and we are well poised to leverage this." Godrej also said GCPL has "big dreams" for Africa, one of its largest investments outside India, although its performance over the last few years there has not been up to the mark. "Africa has a young, fast-growing, urbanising population with growing aspirations. There is much to yet start unearthing as infrastructure, industrialisation and digital leapfrog. We see tremendous opportunity here, to innovate and grow sustainably both in hair care and household insecticides, while also 'doing good'," she said. RKL RVK

Godrej Consumer sees 2020 as 'second beginning' for co

It is unlikely for <keyword id="6364063" type="PERSON" weightage="100" keywordseo="Adi-Godrej">Adi Godrej</keyword>, the chairman of <keyword id="133008" type="COMPANY" weightage="100" keywordseo="Godrej-group">Godrej group</keyword>, to wash his dirty linen in public, but the world saw him in a fierce mood when he publicly accused former employee and business partner <keyword id="2035974" type="UNKNOWN" weightage="100" keywordseo="Arumugham-Mahendran">Arumugham Mahendran</keyword> of ethical and legal breach. He said that Mahendran was planning to launch new products that will be in direct competition with popular Godrej brands Good Knight and Hit. 
 Mahendran had worked closely with Godrej for over 15 years, being the MD of the Rs 9,000-crore Godrej Consumer Products (<keyword id="6508589" type="COMPANY" weightage="100" keywordseo="GCPL">GCPL</keyword>) before he left the group in 2013 with an aim to start his own business. He also held some shares in at least four Godrej group companies. 
 
"I am extremely disappointed with Mahendran," Godrej told ET. "Him launching household insecticides is both a serious ethical and legal breach." 
 While accusing Mahendran, Godrej also spoke about his surprise over <keyword id="6361649" type="CITY" weightage="100" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, the investor backing Mahendran's venture. 
 
"I am also very surprised that global investors like Goldman Sachs are allowing this to happen under their watch," he said. 
 
Mahendran, on the other hand, maintained that he was under no contract to not enter the insecticide business. "In spite of my not having a non-compete agreement with Godrej, it was on ethical grounds I chose not to enter the insecticide business for three years," Mahendran said. "I hold Mr Godrej and the family in high esteem and am very surprised to hear their comments," he added. 
 
Mahendran is busy launching insecticides under the brand name DND through his new venture Global Consumer Products, which is backed by Goldman Sachs. He would be controlling 20% of Global Consumer Products along with his family while the rest would be held by Goldman Sachs and Japanese investor Mitsui.

Friends turn foes? Adi Godrej accuses former MD of legal breach over plans to launch competing products

<keyword id="6359861" type="UNKNOWN" weightage="20" keywordseo="Veteran">Veteran</keyword> industrialist Adi Godrej will step down as chairman as well as from the board of directors of <keyword id="167591" type="COMPANY" weightage="20" keywordseo="Godrej-Industries-Ltd">Godrej Industries Ltd</keyword>, passing on the baton to his younger brother Nadir Godrej, effective October 1, according to a company statement. The 79-year-old industrialist will continue to serve as chairman of the <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword> and chairman emeritus of GIL, said the statement. "Nadir Godrej, who is currently managing director of GIL, will take over as chairman and managing director of the company," it added. GIL is a holding company of the Godrej Group. It has significant interests in consumer goods, real estate, agriculture, chemicals and financial services through its subsidiary and associate companies, across 18 countries. Adi Godrej has served GIL for almost four decades. "It has been a privilege to serve <keyword id="113571" type="CITY" weightage="20" keywordseo="Godrej-Industries">Godrej Industries</keyword> for over four decades, during which we have delivered strong results and transformed our company," said Adi Godrej. He thanked the board for its support and guidance, his team members, business partners, shareholders, investors, and communities, for their continued partnership. "I am very confident that our best years are ahead of us, and I look forward to Nadir and our team achieving our exciting aspirations," Adi Godrej. In the statement, Nadir Godrej thanked his brother for his vision and leadership, which shaped the company. "On behalf of our team at Godrej Industries and our board, I want to thank our chairman for his vision, values and exceptional leadership that has guided and shaped our company. "Our leadership team is committed to building forward on these foundations; continuing to serve our people and communities, and creating long-term value for all our stakeholders," said Nadir Godrej said. On August 4, Adi Godrej announced to step down from the board of group's FMCG arm, Godrej Consumer Products Ltd (GCPL), effective next month. In GCPL, he already passed on the baton to his younger daughter Nisaba Godrej in 2017 as chairman. But, he will remain as chairman emeritus of the FMCG firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/india-now-has-four-edtech-unicorns-byju-unacademy-eruditis-upgrad/articleshow/85300757.cms">From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion funding inflow since 2020</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/realme-book-slim-laptop-launching-in-india-on-august-18-check-expected-price-and-specifications/articleshow/85299743.cms">Realme Book Slim laptop launching in India on August 18 – specs, expected price and everything we know so far</a>

Adi Godrej to step down as Godrej Industries' chairman and board of directors

New Delhi, Jan 6 () Godrej Consumer Products on Monday said demand in the third quarter for this fiscal continued to be challenging, impacted by a general consumption slowdown, stressing that it expects gradual improvement in consumer demand in the upcoming quarters.
 "During the quarter (ended December 31, 2019), we witnessed relatively mixed demand across some of our geographies of operations... In India, demand continued to be challenging, impacted by a general consumption slowdown," Godrej Consumer Products (GCPL) said in a filing to BSE. 
 Despite weak demand conditions, we continued our marginally higher than mid single digit volume growth trend during the quarter," it added.
 The uplift in volume growth, it said, was led by gradual recovery in household insecticides, new product launches, effective marketing campaigns and tactical consumer offers.
 The sales value growth also mirrors the trend of past few quarter's sales value growth.
 "We look forward to a gradual improvement in consumer demand in the quarters ahead driven by good monsoon and government stimuli," it added.
 In Indonesia, the company recorded close to high single digit constant currency sales growths, amidst an improving demand environment in home and personal care space.
 The growths, it said, are driven by new product launches and gradual expansion of general trade distribution (project rise).
 "In GAUM (Godrej Africa, USA, Middle East), we saw a good recovery with higher than mid single digit constant currency sales growth, thus reversing the trend of the past few quarters," it said.
 The performance was driven by improved performance in South Africa and rest of Africa and Middle East cluster.
 "We continue to drive scale up of wet hair care and the relaunch of Darling brand in dry hair category along with expansion in distribution to deliver sales growth for the year," it added.
 Performance in SAARC countries was robust, it said. SID ANS
ANS

Godrej Consumer Products expects gradual improvement in demand in upcoming quarters

Kolkata, Mar 20 () Godrej Consumer Products Limitedon Friday said despite the rise in input cost by 30 per cent,the company has decided not to increase soap prices due to thecoronavirus crisis.The company said it wants people to maintain handhygiene practices."Pricing in the soaps category has seen significantdeflation in 2019. However, in recent months, we have seen a30 per cent rise in raw material inputs. We were planning fora price increase to partially cover for this spike. But giventhe outbreak of COVID-19, we decided not to hike prices now,"Godrej Consumer CEO (India &amp; SAARC) Sunil Kataria said."It is our sincere endeavour to ensure that stocks arereplenished across all channels so that our consumers canadopt better hygiene practices and stay safe. Our teams arealso working round the clock to ensure that adequate stocksare available during these trying times," he said in astatement.To curb the spread of the coronavirus, people areadvised to strictly adhere to hand hygiene by washing handsfrequently with soap and water or an alcohol-based handsanitiser, the statement said. BSMNN NN

Godrej Consumer hold price increase of soaps amid cost impact

<keyword id="303723" type="PERSON" weightage="100" keywordseo="Parmeshwar-Godrej">Parmeshwar Godrej</keyword>, age 72, philanthropist and wife of <keyword id="6369697" type="COMPANY" weightage="100" keywordseo="Godrej">Godrej</keyword> <keyword id="45472" type="ORGANIZATION" weightage="20" keywordseo="Group">group</keyword> chairman <keyword id="6364063" type="PERSON" weightage="100" keywordseo="Adi-Godrej">Adi Godrej</keyword> breathed her last yesterday at Mumbai's Breach Candy hospital following a degenerative lung disease. 
 
The highly private family has been shocked by her sudden deterioration sources said. Group officials were stunned to hear about the news but declined to comment. 
 The dynamic and active face of the Godrej clan, <keyword id="559099" type="PERSON" weightage="20" keywordseo="Parmeshwar">Parmeshwar</keyword> had an impact on family office and social fronts. She has had a huge influence on her children Tanya, Nisa and <keyword id="259304" type="ORGANIZATION" weightage="20" keywordseo="Pirojsha">Pirojsha</keyword> with her liberal but strong understanding of family, humour, and creativity. 
 She is best known huge contribution to creating awareness about AIDS with Hollywood’s <keyword id="2805" type="PERSON" weightage="20" keywordseo="Richard-Gere">Richard Gere</keyword> with whom she launched the <keyword id="18935" type="ENTERTAINMENT" weightage="20" keywordseo="heroes">Heroes</keyword> project to fight HIV-AIDS in India. 
 
Parmeshwar was active in the workings of the Godrej group till last couple years with her aesthetic and design contribution in Godrej Properties and Godrej Consumer. She was one of the first air hostesses for <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword> before her marriage to Adi Godrej.

Philanthropist and Adi Godrej's wife Parmeshwar Godrej
passes away

<keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> Consumer Products Limited, the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited, on Tuesday announced a strategic partnership with Sri Lanka-headquartered <keyword id="16311795" type="General" weightage="80" keywordseo="maliban" source="Orion">Maliban</keyword> Biscuit Manufactories (Private) Limited (Maliban). Maliban, a biscuit manufacturer, is well known for last 70 years for its range of quality products including biscuits, crackers, cookies and wafers. In addition, the company has expanded its products reach to global markets and exports to over 35 countries across five continents. "With a leading market position, Maliban has deep-rooted heritage and credibility. With this strategic partnership between RCPL and Maliban, we will not only be strengthening our FMCG portfolio through a great brand but will also be able to offer an excellent value proposition through quality products to our Indian consumers," said <keyword id="617730" type="General" weightage="50" keywordseo="isha-ambani" source="Orion">Isha Ambani</keyword>, Executive Director, Reliance Retail Ventures, in a release. "Being the custodian of several widely known global brands in India, Reliance is well-positioned to further expand the excellent consumer equity and reach that Maliban has built over 70 years," Isha Ambsaid. The vision of Reliance's FMCG arm is to bring to Indian consumers a bouquet of domestic and globally recognised consumer brands and product choices that offer superior value proposition with exceptional quality. It launched its packaged consumer products brand, 'Independence' in December 2022 and is creating a distinct and dedicated retail distribution network for its fast-expanding FMCG portfolio. <keyword id="6865480" type="General" weightage="50" keywordseo="rrvl" source="Orion">RRVL</keyword>, through its subsidiaries and affiliates, operates more than 16,500 own stores and partners with over 2 million merchants across Grocery, Electronics, Apparel, Pharmacy, lingerie, home and furnishing, beauty and personal care. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/godrej-consumer-products-q3-profit-rises-3-5-to-546-crore/articleshow/97485680.cms">Godrej Consumer Products Q3 profit rises 3.5% to ₹546 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-emerged-as-global-ma-hotspot-in-2022-bain-company-report/articleshow/97490051.cms">India emerged as global M&amp;A hotspot in 2022: Bain &amp; Company report</a>

Reliance Consumer Products enters into strategic agreement with Sri Lankan biscuit maker Maliban

New Delhi, Jan 29 () FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported a 5.11 per cent increase in consolidated net profit at Rs 445.20 crore in the third quarter ended December, helped by volume growth in domestic business.
 The company had posted a net profit of Rs 423.52 crore in October-December quarter a year ago, GCPL said in a BSE filing.
 Total income during the quarter under review stood at Rs 2,801.57 crore, 1.99 per cent lower as compared with Rs 2,746.65 crore in the year-ago period. 
 The company's total expenses rose 1.28 per cent to Rs 2,244.16 crore as against Rs 2,215.79 crore a year ago. 
 Commenting on the results, GCPL Executive Chairperson Nisaba Godrej said, "We delivered a steady performance in the third quarter of fiscal year 2020. Our India business delivered a robust volume growth of 7 per cent alongside gaining market shares across major categories, amid further deterioration in staples consumption."
 GCPL's India revenue rose 1.21 per cent to Rs 1,523.87 crore during October-December from Rs 1,505.64 crore in the corresponding quarter a year ago.
 The company's revenue from Indonesian market rose 13.32 per cent to Rs 448.22 crore as compared with Rs 395.51 crore in the year-ago period. 
 "In our international businesses, Indonesia continued its strong performance with high single digit profitable sales growth driven by a consistent performance across categories and several go-to-market initiatives," Godrej said.
 Africa (including Strength of Nature) sales were marginally lower at Rs 678.70 crore as against Rs 682.30 crore a year ago.
 "In GAUM (Godrej Africa, USA, Middle East), we saw a sales recovery with higher than mid-single digit constant currency sales growth. The performance was driven by an improved performance in our South and West Africa cluster," she said.
 "We continue to drive the scale up of the wet hair care business and the relaunch of the Darling brand in the dry hair category, along with expansion in distribution across GAUM," Godrej added.
 Revenue from other markets was 3.23 per cent lower at Rs 161.12 crore as against Rs 166.50 crore in October-December a year ago.
 The company also informed that its board has declared an interim dividend of Rs 2 per share for financial year 2019-20.
 Shares of Godrej Consumer Products Ltd on Wednesday closed 0.87 per cent higher at Rs 742.10 on the BSE. KRH RVK

Godrej Consumer Products Q3 net profit up 5.11 pc to Rs 445.20 cr

<ul><li>Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank </li><li>Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. </li><li>Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak and Cryril Shroff for negotiations.</li></ul>One of India’s oldest business families of India, Godrej has decided to split their enormous land holdings, tangled between themselves, to make way for real estate development, according to reports. Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank that extends over 3,400 acres in Mumbai. The Godrej family released a joint statement by Adi Godrej and Jamshyd Godrej, calling them ‘normal’ family discussions. 
 <div type="ExtQuote" text="We have been working on a long term strategy plan for the Group for several years. As part of this exercise, we have sought advice from external partners to help us think through options. The family regrets the sensationalist media coverage of these normal and private family discussions." auname="Statement by Godrej family"></div>

 Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. And a large chunk of it, around a 1,000 acres lies in the prime real estate areas of Vikhroli. While Adi heads Godrej Consumer and Godrej Properties, Jamshyd is the chairman and managing director of Godrej and Boyce. The closely held Godrej and Boyce is the owner of most of this land, while Adi’s real estate development company, Godrej Properties pays around 15% of the project revenue to them,<a href="https://economictimes.indiatimes.com/news/company/corporate-trends/godrej-family-may-rework-pacts-after-rift-over-land/articleshow/69966815.cms"> as per an ET report</a>. Now, however, both sides have hired investment bankers and lawyers to re-work family arrangements, in order to make way for Adi’s properties business to turn into the city’s largest real estate developer. Top investment bankers will be a part of tough negotiations to untangle the complicated family pacts. While Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak the chairman of Kotak Mahindra Bank and Cryril Shroff of Cyril Amarchand and Mangaldas, as per a<a href="https://www.business-standard.com/article/companies/godrej-family-hires-top-law-firms-to-untangle-land-holdings-worth-rs-20k-cr-119062700056_1.html"> report by Business Standard</a>. The Godrej Group was founded by Ardeshir Godrej along with his brother, Pirojsha Godrej in 1987. Pirojsha’s sons formed the second generation as Ardeshir died childless. The third generation consists of Adi, Nadir and Jamshyd.

A 122-year old Indian business family has hired bankers and lawyers to split the land of their fathers

New Delhi, May 15 () FMCG major Godrej Consumer Products Ltd (GCPL) on Friday announced acquisition of the balance 25 per cent stake in Kenya-based Canon Chemicals Ltd for an undisclosed sum.Through this transaction, Canon Chemicals would now be a wholly-owned subsidiary of the company. The acquisition was made through its step down firm Godrej East Africa Holdings Ltd."The Company through its wholly-owned subsidiary, has acquired the balance 25 per cent stake in Canon Chemicals Limited," said GCPL in a regulatory filing. The Godrej Group firm had earlier acquired 75 per cent stake in Canon Chemicals Limited, Kenya, in 2016."As per the agreement entered into with the sellers, the company has now acquired the balance 25 per cent stake on May 15, 2020," it added.Canon Chemicals is a Kenya-based manufacturer of consumer products.GCPL is expanding its presence in the African markets and has done substantial acquisitions also in the past to strengthen its presence in the subcontinent.In the last quarter, January-March, GCPL's revenue from Africa (including Strength of Nature) market was at Rs 484.03 crore. KRH RKL MR

GCPL acquires balance 25% stake in Kenya-based Canon Chemicals

New Delhi, Jan 23 () Home appliances major Godrej Appliances on Thursday said it has forayed into air cooler category with introduction of coolers with inverter technology, and is looking at capturing 15 per cent market share in the segment in next 5 years.
 Air coolers with inverter technology ensure cooling at higher efficiency with up to 50 per cent more power saving, delivering savings of up to Rs 3,000 in 3 years, Godrej Appliances said in a statement.
 "We have entered another category in cooling space. Air cooler market was going at about 17 per cent over the last five years, but if you look at last one or two years it has grown by around 20 per cent and there is a huge market and it is bound to grow," Godrej Appliances Business Head and Executive VP Kamal Nandi told reporters here.
 With its inverter technology and delightful features, Godrej air coolers aims to make eco-friendly technologies within everyone's reach, while bringing in ease and convenience to consumers, he added.
 "As the price point of entry level air conditioners has increased by Rs 5,000-6,000, the consumers who were looking for air conditioner in the entry level price bracket find that to be unaffordable. Because of this, a large chunk of consumers are now looking at cooling solutions which are of lesser cost and lesser budget and therefore air cooler as a category is going very fast," Nandi said.
 The size of air cooler market is about Rs 6,000 crore (both organised and unaorganised) and Godrej Appliances is looking at acquiring 4 per cent share this year, he added.
 "We are looking at around 4 per cent of market share in the air cooler category in this year and aim to have a 15 per cent market share in next five years," Nandi said.
 Godrej air coolers range is broadly classified into three sub-categories -- inverter series, electronic series and mechanical series, the company said.
 The air cooler range consists of 17 models in various sizes and cooling capacities, ranging from Rs 12,300 to Rs 19,900, it added. AKT RVK

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Godrej Consumer Products Q3 profit rises 3.5% to ₹546 crore

PTI

Godrej Consumer sees 2020 as 'second beginning' for co

PTI

Friends turn foes? Adi Godrej accuses former MD of legal breach over plans to launch competing products

BI India Bureau

Adi Godrej to step down as Godrej Industries' chairman and board of directors

PTI

Godrej Consumer Products expects gradual improvement in demand in upcoming quarters

PTI

Godrej Consumer hold price increase of soaps amid cost impact

PTI

Philanthropist and Adi Godrej's wife Parmeshwar Godrej passes away

BI India Bureau

Reliance Consumer Products enters into strategic agreement with Sri Lankan biscuit maker Maliban

ANI

Godrej Consumer Products Q3 net profit up 5.11 pc to Rs 445.20 cr

PTI

A 122-year old Indian business family has hired bankers and lawyers to split the land of their fathers

Katya Naidu

GCPL acquires balance 25% stake in Kenya-based Canon Chemicals

PTI

Godrej Applinaces forays into air cooler segment, eyes 15 pc market share in 5 yrs

PTI

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