Godrej Consumer's Bangladesh business returns to profit after four years led by Goodknight sales

Mumbai: Godrej Consumer Products Ltd's (GCPL) Bangladesh business turned profitable in FY26 for the first time in four years, helped by strong sales of its flagship mosquito repellent brand Goodknight and sustained investments in expanding the category, the fast moving consumer goods company said in its annual report.

Godrej Household Products (Bangladesh) Pvt. Ltd, a wholly owned subsidiary of GCPL, reported revenue of ₹191.4 crore in FY26, up nearly 40% from a year earlier, and posted a profit after tax of ₹5.86 crore. It had reported a loss of ₹9.6 crore in FY25 and had remained loss-making since FY23 despite steady sales growth.

“Topline targets were delivered on the back of growth momentum on Goodknight portfolio as well as via investments in category development [and] cashflow unlock driven by inventory optimization,” the company said in its annual report. “Looking ahead, we will continue to invest in category development in our key categories and further localise our operations to strengthen our business further.”

Last year, the company had said it had finally found success in selling Goodknight in Bangladesh and Indonesia.

“Liquid vaporisers, already a large category in India, was relatively nascent in these markets,” the company had said in its FY25 annual report last year. “We realigned pricing to India levels, significantly increased media investments, addressed safety concerns in Bangladesh with tailored messaging and activated home-to-home sampling reaching more than 2 million households. The result: significant volume growth in both countries—over 30%—and transformation of Bangladesh from a coils market to one led by electrics. It mirrors what we saw in India during our high-growth phase a decade ago.”

Godrej Consumer acquired the Bangladesh business in 2010. It also operates a subsidiary in Sri Lanka which it acquired that year. That subsidiary, named Godrej Consumer Products (Lanka) Pvt Ltd, turned profitable in FY24. In FY26, the unit reported a turnover of ₹97.26 crore, up 15.2% year on year, with profits after tax of ₹12.38 crore, up 33%.

However, Indonesia is among GCPL’s largest international markets, where the company has been facing a decline in sales for most of FY26. Wholly owned subsidiary PT Godrej Consumer Products Indonesia reported a turnover of ₹1,972.3 crore in FY26, a slight decline from ₹1,994 crore a year ago, while profits after tax stood at ₹298.21 crore, a 14% decline year on year.

Yet, in its investor presentation for the March 2026 quarter, GCPL said sales for its Indonesia business grew 3% and volume by 4% year on year.

“Indonesia business revenue is anticipated to grow in mid-teens led by double-digit volume growth,” analysts at brokerage firm Nuvama Institutional Equities wrote in a note named ‘Indonesia Turns The Corner’ earlier this month.

“Competitive pressures have eased and it has returned to profitable growth. GAUM [Africa, US, and Middle East] business revenue is likely to grow in strong double digits with volume growth anticipated to grow in teens led by broad-based growth across categories,” the note added.

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