What are the reasons for GCPL and GILs strong performance
Our growth in the first quarter was led by a series of accretive new acquisitions. GCPL had completed the acquisition of PT. Megasari Makmur Group, Tura brand in Nigeria, Issue group and Argencos in Argentina and the balance 51% stake in Godrej Sara Lee. Our growth will be better in the second quarter. In Q1, these acquisitions were partly consolidated. We had also launched many consumer-centric offerings with the relaunch of some of our existing products with focused marketing and promotional strategies .All our businesses performed well in line with the economys growth.
Whats going to be GCPLs growth strategy in the second quarter
We are looking at both organic and inorganic growth. We will add a manufacturing facility for our soap brands soon. We will increase our distribution network . We also plan to increase our advertising budget to promote our brands in competitive markets.
What about inorganic growth strategy for GCPL With the good monsoon, will you be revisiting your pricing strategy
We had five acquisitions in Q1. We will continue to scout for acquisitions which fit strategically in our portfolio. We will look at buy out opportunities, both in domestic and gloabal. We are not planning to revise our pricing strategy.
What are your plans for GIL in the second quarter
We will extend the product range of Godrej Hersheys with the launch of chocolates this fiscal. Our Oleo-chemicals business delivered positive growth on the back of continued efforts to improve efficiency and reduce costs.
Will you be investing in R&D projects this fiscal
Yes. We will be increasing investment in our R&D projects this fiscal.We are looking at new launches to reach out to a wider audience.