Godrej Consumer Products Limited (GCPL) has announced its collaboration with the Tamil Nadu government to establish a cutting-edge manufacturing facility, with an investment of Rs 515 crore over the next five years. This strategic move aims to create over 400 job opportunities within the southern state.
The upcoming manufacturing facility is planned to be situated in Thiruporur Taluk, Chengalpattu District of Tamil Nadu. It is projected to become operational within a timeframe of 18 to 36 months, with funding sourced from a combination of internal accruals and debt.
The collaboration was formalized through a Memorandum of Understanding (MoU) signed between the Tamil Nadu government and the Godrej group at the Secretariat. The event witnessed the exchange of the MoU between V Vishu, Managing Director of Guidance Tamil Nadu, the state’s investment promotion and facilitation agency, and Sudhir Sitapati, MD and CEO of Godrej Consumer Products Limited, in the presence of Chief Minister MK Stalin.
The partnership’s significance was highlighted by Chief Minister M K Stalin, who noted, “We are delighted to announce the strategic partnership with Godrej Consumer Products for the establishment of their new plant with an investment of Rs 515 crore in our state. This development holds great promise as it is set to have a positive impact on our local economy by generating employment opportunities and driving our state’s industrial growth.”
The envisaged facility is designed to be inclusive and gender-balanced, aiming to employ 50 percent women and 5 percent employees from the LGBTQ and people with disability (PWD) communities. Nisaba Godrej, GCPL’s Executive Chairperson, underlined this commitment to diversity and inclusivity.
Sudhir Sitapati, MD & CEO of Godrej Consumer Products Limited, shared insights into the upcoming plant’s significance, stating, “This state-of-the-art plant will play a pivotal role in accelerating our delivery times, optimizing inventory management, and significantly reducing overall costs. It will serve as a manufacturing hub for a wide range of our renowned brands and products, bolstering our market presence further. More importantly, our commitment extends beyond business expansion; we are dedicated to making a positive impact on the community and fostering sustainable development in Tamil Nadu.”
In terms of financial performance, Godrej Consumer Products reported a consolidated net profit of Rs 318.82 crore for the April-June quarter of FY24. This marked a 7.6 percent drop from the corresponding quarter of the previous financial year, while the total revenue of the company increased by 10.36 percent to Rs 3,448.91 crore.
The venture between GCPL and the Tamil Nadu government not only signifies a substantial investment in the state’s industrial landscape but also emphasizes social responsibility and growth.
