Godrej Consumer Products gains 59.1%, Sudhir Sitapati to be new MD & CEO- The fourth quarter results of Godrej Consumer Products were also revealed and the company also announced the appointment of Sudhir Sitapati as Managing Director and CEO from October 18, 2021. As per the fourth quarter results of the financial year 2020-21, the company reported a profit of 59.1 per cent at Rs 365.8 crore as against Rs 229.9 crore in the fourth quarter of the previous year. However, as expected, the company’s profits have been less than that. In CNBC-TV18 Poll, the company’s profit was estimated at Rs 425 crore. The company’s revenue grew 26.8 percent to Rs 2,730.7 crore in the fourth quarter from Rs 2,153.8 crore in the fourth quarter of last year. The company’s earnings during this period have been slightly higher than anticipated. In the CNBC-TV18 Poll, the company’s revenue was estimated to be Rs 2,695 crore.
The company’s EBITDA increased to Rs 549 crore.
In the fourth quarter on an annual basis, the company’s EBITDA has increased from Rs 477.2 crore to Rs 549 crore. At the same time, the EBITDA margin has come down from 22.2 per cent in the fourth quarter of last year to 20.1 per cent. The CNBC-TV18 Poll had estimated the company’s EBITDA at Rs 595 crore and EBITDA margin at 22.1 per cent in the fourth quarter. The company has said that the fourth quarter sales of the company grew by about 27 per cent year-on-year to Rs 2,706 crore as against Rs 2,133 crore in the same period last year.
Sitapati was in Hindustan Unilever
Godrej Consumer Products announced the appointment of Sudhir Sitapati as MD & CEO with effect from October 18, 2021. He was working as Sudhir Sitapati, Executive Director (Food and Refreshment) of Hindustan Unilever (HUL), the top company in the FMCG sector, till Monday. He left the organization only for Somavar. Srinandan Sundaram will now replace him in this position. This will be under the change in the top level management of the company. The company said in a statement on Monday, “Srinandan Sundaram will replace Sudhir Sitapati, who is leaving the company for some outdoor occasion.
