GCPL Calls For Pitches For Its Media Account
The account size is estimated to be about Rs 700 crore
Godrej Consumer Products has put its integrated media account for India 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 revealed 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 per cent compared to Q2 of the previous year, though it marks a 10 per cent increase from the prior quarter. Revenue from operations stood at Rs 3,666 crore for the July-September period, up 1.77 per cent year-on-year. GCPL’s total income rose by 2.29 per cent YoY, with consolidated EBITDA up 8 per cent YoY and consolidated net profit increasing by 12 per cent YoY.
On the global front, GCPL’s Indonesian operations reported a 7 per cent increase in volumes and 11 per cent sales growth in constant currency terms, YoY. However, sales in Africa, the US, and the Middle East (organic) declined by 10 per cent in INR terms, remaining flat in constant currency terms YoY. Latin America and other regions saw a 36 per cent 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.
