Godrej may hike soap rates to offset rising costs

Godrej group firm Godrej Consumer Products, which sells soap brands such as Cinthol and Godrej No 1, raised prices of its soaps by 3%-5% in early January

The Godrej group, a major player in the FMCG segment, said it could hike soap prices to offset rising input costs, particularly those of vegetable oils.

"Soap is one category which is affected because vegetable oil prices are rising. We are meeting it by efficiency in manufacturing and distribution and by some price increase. There could be further price increases," Godrej group chairman Adi Godrej said.

When asked by how much the prices could go up, he said: "It is difficult to predict how much, but it depends on how raw material prices will pan out. If the raw material prices go up significantly, we need to take a price hike."

Godrej group firm Godrej Consumer Products (GCPL), which sells soap brands such as Cinthol and Godrej No 1, raised prices of its soaps by 3%-5% in early January. It had also raised the prices of its hair-colour products by 10% around three months ago.

Godrej, however denied on cutting down on retailers' margins.

On the acquisition front, he said the company is no longer aggressively looking out for prospective purchases after a spate of acquisitions last year, although it continues to keep its option open.

"We are looking for acquisitions, when suitable acquisition comes our way, we will. I won't use the word aggressively, but we are looking for it," Godrej said.
Last year, GCPL had seven acquisitions to its credit, including the takeover of leading African personal care brand Tura from Nigeria's Tura Group, Latin American hair colour firm Issue Group and Argentina's Argencos.

On Monday, GCPL ended 0.28% down at Rs356.95 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.25% to 18,438.31.

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Amara Raja group targets revenue of $2 billion by 2015

Amara Raja group has grown from one company to seven companies with a turnover of Rs2,500 crore

Amara Raja Group, $500 million diversified conglomerate has unveiled a new identity coinciding with its silver jubilee celebrations. Marking the occasion the group chairman, Dr Ramachandra Galla announced setting up of Amara Raja Digital World City (ARDWC) and shared group's vision to achieve $25 billion revenue by 2025 and continue to create non-migratory jobs.

Launching the new identity of the group, Dr Galla, said, "The group has grown from one company to seven companies with a turnover of Rs2,500 crore, employing over 7,000 people across the country with 12 manufacturing units spread over four manufacturing complexes providing non migratory jobs."

Marking the occasion, Jayadev Galla, managing director, Amara Raja Batteries Ltd said, "The form of the new identity represents a generational change as we transform from a set of individual companies into a diversified group. The identity also symbolises the group's five core values through nature's five elements and articulated through its five colours. The baseline-'Gotta be a Better Way' reflects our attitude of constantly looking for better ways to do things."

ARDWC will be one of India's largest integrated electronics manufacturing parks. ARDWC spread over 500 acres is expected to create over 20,000 jobs. This project will fuel Amara Raja Group's aim to achieve $2 billion revenue by 2015.

Amara Raja Group consists of Amara Raja Power Systems Ltd, Amara Raja Batteries Ltd, Mangal Precision Products Ltd, Amara Raja Electronics Ltd, Galla Foods Ltd, Amara Raja Infra Pvt Ltd and Amara Raja Industrial Services Pvt Ltd. 

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SBI becomes signatory investor to Carbon Disclosure Project

The Carbon Disclosure Project is a global initiative for sustainable development

The country's largest lender State Bank of India said it has become a signatory investor to the Carbon Disclosure Project (CDP), a global initiative for sustainable development.

CDP collects data on carbon emissions from 5,000 large companies every year, including the top 200 Indian companies listed on the National Stock Exchange.

Signatory financial institutions stand to get affected by environmental costs which come back into their respective portfolios as insurance premiums, taxes, inflated input prices and the physical cost associated with disasters, a release issued by SBI said.

"CDP provides investors, insurance companies and banks a lens to evaluate these externalities and how they will impact their specific portfolio," it added.
On Monday, SBI ended 1.31% up at Rs2,791.50 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.25% to 18,438.31.

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