The FMCG major, Godrej Consumer Products Ltd (GCPL) gets its 30 percent sales from the rural market and expects higher growth form that segment in the future.
GCPL Managing Director, Vivek Gambhir said that GCPL’s penetration is still low in the rural segment but it will expect higher growth rate in the future as there are enough opportunities in the space.
To cash the low income group population in rural India, the company to focus on small packets packaging for the price sensitive rural markets.
"What we try and do for the rural market is to innovate formats of packaging in order to make the price point more accessible for rural consumers. This is the customised strategy for the rural market," he further added.
Over apprehensions of decline in rural sales due to below-average monsoon forecast, Gambhir said monsoon situation has picked up now and threat of El-Nino has been downgraded. The company does not have any apprehensions of any negative impact of Monsoon this year.
"Last year monsoon was excellent but it did not impact rural sales all that much. And for us the impact is much more direct as it also depends on food inflation. It is still early to say," he said.
In FY 2013-14, GCPL had reported a consolidated revenue of Rs 7,602.41 crore.