VOLUME, VALUE, VELOCITY: GCPL'S FORMULA FOR PROFITABLE GROWTH

With double-digit growth in India and improving margins, GCPL is regaining momentum through volume-led growth and portfolio premiumization.

- BY VAISHNAVI GUPTA

In a year marked by uneven demand recovery, fluctuating input costs and cautious consumer sentiment, Godrej Consumer Products Limited (GCPL) has managed to strike a careful balance between growth, profitability and long-term category development. The December quarter of FY26 underscored this resilience, with the company delivering broad-based growth across geographies and categories while maintaining a sharp focus on cost discipline and portfolio premiumization.

For GCPL, FY26 has so far been about momentum—steady, sequential and anchored in fundamentals. “We have had a good start to the year and have been sequentially building on the growth momentum. Quarter 3 has been a great quarter for us, wherein the India business delivered a double-digit value growth of 11 percent,” said Aasif Malbari, Chief Financial Officer, GCPL. Importantly, the growth was not restricted to a single segment. “The growth has been broad-based across multiple categories, with some of the new-age categories delivering exceptional growth,” he added.

A Strong Q3 Performance Anchored in Volumes

GCPL reported a 9 percent year-on-year growth in consolidated sales in Rs terms for Q3 FY26, backed by underlying volume growth of 7 percent. EBITDA margins expanded to 21.6 percent, while net profit (excluding exceptional items) rose 14 percent year-on-year—clear indicators of operating leverage and margin recovery coming together.

The standalone India business emerged as a key growth engine, with sales growing 11 percent and underlying volumes up 9 percent. Home Care posted a robust 12 percent value growth, driven by air fresheners, fabric care and steady gains in household insecticides. Personal Care, meanwhile, witnessed a meaningful recovery, growing 7 percent, aided by improved affordability post-GST reduction and stabilizing commodity prices.