Godrej Consumer Products Ltd closes in on acquisitions

Godrej Consumer Products Ltd (GCPL), the fast moving consumer goods company, is close to making a few acquisitions in household care, personal wash and hair care space, Dalip Sehgal, managing director, said.

He said the company would raise the money in parts, but declined to comment on particular brands.

“You will see us the doing the first few acquisitions very soon. We are interested in personal wash, hair colours and household care categories and continue scouting in Africa, Asia and North America,” Sehgal said.

The company’s board last month passed a resolution for raising up to Rs 3,000 crore for driving inorganic growth, of which the first Rs 1,000 crore will be debt. “Our strategies remain to focus on rural growth, greater brand building as we spent 50% more this quarter. Focus will be on strengthening our internal business. We have also increased our products reach to 50,000 salon shops,” Sehgal said.

It reported a net profit of Rs 85 crore for the December quarter, up 112% over Q3FY09.