Shares of Godrej Consumer Products (GCPL) soared 15 per cent to Rs 823.30 on the BSE in intra-day trade on Wednesday after the fast moving consumer goods (FMCG) major announced that Sudhir Sitapati will take over as its managing director (MD) and CEO in October 2021.
Sudhir Sitapati who spent over two decades at FMCG Hindustan Unilever is stepping down from the role of executive director of the company’s foods and refreshment (F&R) business.
GCPL s stock hit a 52-week high, surpassing its previous high of Rs 808, touched on January 21, 2021. It had touched a record high of Rs 979 in September 2018. GCPL is a part of derivative markets future & option segment, and thus the concept of a daily circuit limit does not apply to it.
Godrej Consumer Products rose 19.38% to Rs 854.70 after the company s consolidated net profit surged 59.1% to Rs 365.84 crore on 26.9% jump in net sales to Rs 2,705.69 crore in Q4 FY21 over Q4 FY20.
Consolidated profit before tax soared 25.8% to Rs 424.41 crore in Q4 March 2021 as against Rs 337.39 crore in Q4 March 2020. The consolidated EBITDA galloped 21% Y-o-Y in Q4 March 2021 over Q4 March 2020. Consolidated EBITDA margins stood at 21.2%, a decrease of 110 bps year-on-year, driven by drop in India and Latin America & SAARC margins.
The India sales grew 35% to Rs 1,466 crore in Q4 FY2021 over Q4 FY2020 while the volume jumped 29% during the period under review.
Sudhir Sitapati spent 22 years at Hindustan Unilever where he led teams across categories.
Godrej Consumer Products has appointed Sudhir Sitapati as its managing director and chief executive officer (CEO) of the company for a period of five years with effect from October 18, 20121. Mr Sitapati spent 22 years at Hindustan Unilever where he led teams across categories and functions in India, Europe, South East Asia and Africa to create significant value for the business. He was appointed to the HUL Management Committee as an executive director in 2016, making him one of its youngest ever members. Under Sudhir s leadership, HUL built up its Foods and Refreshments business as one of the largest in India. This included the $5 billion merger and integration of GlaxoSmithKline Consumer Healthcare with HUL, the largest deal of its kind in the FMCG sector in India, Godrej Consumer Products said in a press release.
Mumbai: Godrej Consumer Products Limited (GCPL) today announced changes to its leadership team, effective 18 October 18 2021. Sudhir Sitapati will join GCPL as managing director and chief executive officer. Nisaba Godrej, currently the chairperson and MD of the company, will continue to serve as executive chairperson. Sitapati’s appointment will enable GCPL to leverage his