GCPL media account worth Rs 700 crore up for grabs

The company reported advertising and publicity expenses of Rs 363.95 crore for the quarter ended September 30, 2024

by e4m Staff
Published: Nov 12, 2024 10:27 AM | 2 min read

Godrej Consumer Products Limited (GCPL)’s integrated media account for India is reportedly up for grabs, with sources estimating the account’s value at nearly Rs 700 crore. Madison currently holds the media mandate for GCPL, including digital, but top agencies such as Mindshare (GroupM) and Carat (dentsu) are now pitching for the account.

Recently, GCPL announced its financial results for the quarter ending September 30, 2024.

The company reported advertising and publicity expenses of Rs 363.95 crore for the quarter, a slight decrease of 0.5% compared to Q2 of the previous year, though it marks a 10% increase from the prior quarter. Revenue from operations stood at Rs 3,666 crore for the July-September period, up 1.77% year-on-year. GCPL’s total income rose by 2.29% YoY, with consolidated EBITDA up 8% YoY and consolidated net profit increasing by 12% YoY.

On the global front, GCPL’s Indonesian operations reported a 7% increase in volumes and 11% sales growth in constant currency terms, YoY. However, sales in Africa, the US, and the Middle East (organic) declined by 10% in INR terms, remaining flat in constant currency terms YoY. Latin America and other regions saw a 36% YoY growth in sales.

GCPL has also been actively working with agencies for its sub-brands. Last month, Dentsu Creative Webchutney won the digital mandate for Godrej Professional, GCPL’s professional hair care brand, following a multi-agency pitch. The account will be managed from the agency’s Mumbai office.