Godrej Consumer and Godrej Chemicals did very well. All our businesses in Godrej Agrovet are also expected to do quite well this year, Adi Godrej, Chairman, Godrej Group, tells ET Now.
Edited excerpts:
Can you talk about the Q1 results? It was largely led by the consumer business. What is your assessment and the overall word on the performance?
It has been a good quarter for us. Godrej Consumer Products has done extremely well. Our standalone profit increased by 80 odd percent. Our chemicals business did very well. Godrej Properties is not strictly comparable because we had an accounting change starting April 1st which is applicable by the government to all real estate companies. Overall, we have had a good quarter and we hope it continues into a good year.
Do you expect the consumer business momentum to continue in Q2. What do you think are the key drivers for that?
Momentum will be good but it is very difficult to exactly say what will be the growth, etc. But momentum should be very good.
Let us talk about Astec Life. Did you see any notable product launches? Can you give me a roadmap for crop protection, the life sciences segment, focus a little on the agri business?
It is not that some products were not launched. If you sell in India, it is according to the new accounting standards. If you sell CIF, you can only account for it after the goods have reached the customer. If you sell FOB, then you can account for it immediately. It depends on what the situation was in a particular quarter. We expect to do very well in Astec LifeSciences also. All our businesses in Godrej Agrovet are expected to do quite well this year but it is very difficult to predict because it is a commodity-based business.
All retailers from online to the traditional brick and mortar stores are expanding in fresh categories and premium retail. You have even got global retailers from Amazon coming out with big plans and getting FIPB approval. What are your plans for Natures Basket?
We are expanding very considerably in Natures Basket. We have introduced lot of new products and we expect to grow very well.
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