Personal Products company Godrej Consumer Products announced Q1FY25 results: India business organic volume grew by 8% and reported volume grew by 10%; reported sales grew by 9% YoY Indonesia volumes grew by 7% and sales grew by 11% in constant currency terms, YoY Africa, USA and Middle East (organic) sales declined 25% in INR terms and 10% in constant currency terms, YoY Latin America and SAARC sales grew by 7% in INR terms and grew by 147% in constant currency terms, YoY Q1FY25 consolidated EBITDA grew by 13% YoY Q1FY25 consolidated net profit grew by 14% YoY (without exceptional items and one-offs) Commenting on the business performance of Q1FY25, Sudhir Sitapati, Managing Director and CEO, GCPL, said: We started the year with a healthy volume growth in our key geographies of India and Indonesia. In India, we delivered an organic volume growth of 8% and reported volume growth of 10%. The performance was broad-based across Home Care and Personal Care. In Indonesia, we continue to deliver robust performance with 7% volume growth. In organic terms, Africa, USA and the Middle East sales declined by 10% in constant currency terms while 25% in Rs terms due to depreciating Naira, however, offtakes continue to remain strong. This translated in organic consolidated revenue to decline by 1% while in constant currency terms sales was up by 11%. Our quality of profits has been improving consistently over the last few quarters with reported Consolidated gross margin improving by 230 bps YoY. Our EBITDA Margin, too, improved by 310 bps YoY. We remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We continue to have a strong balance sheet. We are on track in our journey to reduce wasted cost and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development. Today, we are announcing the formation of Godrej Pet Care (GPC), a subsidiary of GCPL. Pet foods is already a ?5,000 crore category with many decades of late teens growth ahead. To give a perspective, only ~10% of Indians own a pet of which only 10% feed packaged food and that too only 40% of the time. Calorie conversion in India is only 4%. China, which was remarkably similar to India 15 years ago, has 20% pet ownership with a calorie conversion of 25%. While the opportunity is clear, we believe that our right to win as a group is high. GAVL, our group company, is the market leader in animal feed and has a good understanding of pet foods R&D;, with competitive advantages in supply chain. GCPL will invest the entire capital of ?500 crore in GPC over a period of 5 years, post which we see GPC becoming cash flow positive. GAVL will be our manufacturing and R&D; partner. Lead times to set up capex are long, and we hope to commence manufacturing in the second half of next year. Result PDF