Indian real estate-to-dairy conglomerate Godrej Industries is eyeing acquisitions in the consumer goods and animal feed sectors, Nadir Godrej, Godrej Industries Chairman, told Reuters in Davos. The industry veteran said the group is continually looking to acquire companies despite the high valuations of young companies.
“We are constantly looking for acquisitions,” Nadir Godrej told Reuters. He said the group’s food and agri business, Godrej Agrovet, is looking for prospects in the animal feed category, but “never found a really good target” as most peers are regional.
Last year, Godrej Consumer acquired men’s grooming brand Muuchstac for about Rs 450 crore via a slump sale from Trilogy Solutions. The company said it is looking to expand its participation in the premium skincare market through a profitable, digitally native brand, leveraging GCPL’s distribution, supply chain, and innovation strengths to scale.
Godrej Consumer Q3 results
Godrej Consumer reported muted profit growth in Q3 FY26, as employee costs rose following changes to the labour code. The FMCG company of the Godrej Group reported a 0.08 per cent YoY decline in net profit in the quarter.
Godrej Consumer reported a consolidated net profit of Rs 497.9 crore in Q3 FY26, compared with Rs 498.31 crore in Q3 FY25.
Godrej Consumer’s revenue from operations grew by 8.78 per cent year on year. The company reported consolidated revenue of Rs 4,099 crore from operations in Q3 FY26. The company’s revenue was at Rs 3,768 crore in the corresponding quarter of the previous fiscal year.
Dealmaking scale-up in India
Investment bank Equirus Capital said that dealmaking in the Indian consumer goods and retail sector has picked up as large groups chase growth, reaching a four-year high for January-September.
Strong demographics, rising consumption and supportive policies continue to attract capital to the world’s fourth-largest economy, Rahul Saraf, head of investment banking at Citi India, said.
But high valuations are sometimes a pain point. “Part of the high valuation in India is because it has very high growth rates. You don’t have those growth rates in Europe or in America,” Saraf said.
The International Monetary Fund forecasts India’s economy will expand more than 7% in fiscal 2026, far outpacing the global average, while its communications department director called the country a key growth engine for the world.
Nadir Godrej said that in light of US tariffs on imports from India, the group’s consumer business is working harder in other markets even though its direct exports to the US are minor.