Financial Daily from THE HINDU group of publications
Sunday, Jul 10, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 10, 2005 |
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Corporate
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Outlook Godrej Consumer to look at organic, inorganic growth Our Bureau
Mumbai , July 9 GODREJ Consumer Products Ltd (GCPL) will look at organic and inorganic growth opportunities to deploy its cash. The fast moving consumer goods company is expected to outperform the sector during the current fiscal too, Mr Adi Godrej, Chairman and Managing Director, GCPL, was quoted as saying in the annual report of 2004-2005. "Robust economic growth and increasing urbanisation are driving aspiration levels which in turn is increasing consumption," Mr Godrej said. According to Mr Hoshedar Press, Executive Director and President, GCPL, the recent tax rationalisation announcement in the Finance Bill should result in higher disposable incomes in the hands of the consumer. This augurs well for the FMCG sector. "The introduction of value-added tax will also encourage transparency and better compliance which would in turn result in improved pricing and better value for the consumer," Mr Press was quoted as saying. The company's manufacturing facility at Baddi in Himachal Pradesh, now fully operational, is expected to improve margins primarily because of tax concessions.
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