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"Its Indian operations, contributing approximately 55 percent to the overall consolidated revenues, experienced a substantial improvement driven by a more favorable product mix. This, combined with favorable raw material costs, resulted in a notable expansion of the earnings before interest, tax, depreciation, and amortization (EBITDA) margin, primarily fueled by high-margin product categories.

In the December 2023 quarter, the organic volume growth in the Indian segment reached 5 percent, with specific premium categories witnessing double-digit volume growth, in contrast to mass categories such as personal wash, household insecticides, and powder hair color.

Overall consolidated revenues saw a 2 percent increase (with organic growth declining by 2 percent excluding the Raymond Consumer Care acquisition). Despite higher advertising expenses, the impact of lower raw material prices contributed to enhanced operating profitability.

GCPL’s dominance in the domestic market is reinforced by its leading brands, particularly in segments like household insecticides and hair care. Brands such as Goodknight and Hit in the home-care sector and Godrej Expert in hair coloring contribute significantly to maintaining its competitive edge.