Unfazed by competition from RIL, expect broad-based growth in FY24: GCPL

Godrej Consumer Products Ltd is unfazed by the prospect of competition from Reliance's entry into the FMCG sector, having seen multiple disruptions, including the high-profile entry of Baba Ramdev's Patanjali, according to a top company official.

The company is betting on its brand equity, wide range of portfolios and innovations to ward off competition, Godrej Consumer Products Ltd (GCPL) CFO Sameer Shah told PTI.

"We have seen multiple disruptions in the FMCG sector. In 2005-06 every one said that modern retail would take the sector by storm with private labels and FMCG players would find it very difficult to compete. After 17-18 years nothing has changed with modern retail play, he said.

Shah was responding to a query on how the entry of Reliance in the FMCG segment would change the competitive landscape of the sector.

"It's too early to call on, he said adding, We have seen Patanjali a few years back. Five to six years back the expectation was they would take on every FMCG play