Godrej Consumer Products hit the upper circuit in Wednesday’s early trade as the company appoints a new MD & CEO and reports decent rise in net profits. The FMCG major reported a 59.13 per cent increase in its consolidated net profit to Rs 365.84 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 229.90 crore in the January-March quarter a year ago.

The counter jumped 15 per cent during the early trade on Wednesday to Rs 823.30, its new 52-week high. It was closed at Rs 715.95 on Tuesday. BSE Sensex was down by 338.6 points or 0.69 per cent at 48,823.21. The personal care products company has delivered over 25 per cent return in the last two months since the country is recording a wild surge in infections due to the second wave of the pandemic.

Godrej Consumer Products (GCPL) said on Tuesday that Sudhir Sitapati will join the company as managing director and chief executive officer effective October 18. Nisaba Godrej, currently the chairperson and managing director, will continue to serve as executive chairperson.

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Sitapati comes to GCPL after a tenure of 22 years at Hindustan Unilever, where he led teams across categories and functions in India, Europe, South East Asia, and Africa.

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Godrej Consumer Products Ltd-View Detailed Analysis