Godrej Consumer is the big mover post its fourth-quarter earnings and the appointment of new MD & CEO - Sudhir Sitapati.
Shares of the company zoomed nearly 25 percent after the company reported a 59.13 percent increase in its consolidated net profit for the fourth quarter ended March 2021. The stock after starting the trade on a bullish note further rallied 24.86 per cent to Rs 894 its 52-week high on BSE.
Nisaba Godrej, Chairperson & MD, Godrej Consumer Products spoke to CNBC-TV18 on the quarterly performance.
First, on the appointment of Sudhir Sitapati as the CEO, Nisaba Godrej said, “The reason to bring, to have someone like Sudhir come in, is that he has an amazing track record. Above all, he is going to be a very strong culture fit for Godrej. Our vision is to have strong growth, our purpose is to bring the best of health and beauty to emerging markets so for him to come in really help growth and transformation for the company.”
She added, “I don’t think we are bringing him on for his food experience, we are bringing him on for his leadership experience and I wanted a very strong CEO for GCPL. There is a separation rule coming in April 22 between the Chairperson and the CEO and I really think he will do wonderful things with the company.”
On growth, she said, “It is a higher focus on growth, this year has relatively been a good year but it also has come on a lower base. So when I look at our five-year growth trajectory I don’t believe we should be in single digits, I do believe we should be in double digits growth.”
“I do feel that our marketing execution could get stronger and could get built on. We have also become much more global company in the last decade so stronger category management also across the across company will be something that we look forward to happening.”
For the full interview, watch the accompanying video
(Edited by : Abhishek Jha)
First Published: IST