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Godrej Consumer Products Margin Trend — Quarter by Quarter

Godrej Consumer Products's EBITDA margin moved from 19.3% in Q2 FY26 to 21.7% in Q4 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2621.7%—
Q3 FY2621.6%—
Q2 FY2619.3%—

What management said about ebitda margin

G

Q4 FY26 · India business to deliver calibrated growth at normative EBITDA margins

India standalone expected to maintain normative EBITDA margins supported by improving demand and innovation.

G

Q4 FY26 · Near-term margin pressure from crude oil inflation

Expect lower EBITDA margins in Q1 and Q2 FY27 due to crude oil at $100-110, but absolute EBITDA to remain healthy.

G

Q3 FY26 · India EBITDA margin to sustain in 24-26% range

Management expects India EBITDA margins to remain in the 24-26% range annually, with quarterly fluctuations.

G

Q2 FY26 · India and GAUM double-digit EBITDA growth for FY26

India standalone and GAUM businesses are expected to deliver double-digit EBITDA growth for the full year.

G

Q2 FY26 · India standalone EBITDA margin to return to normative band (24-26%) in H2

Management expects India standalone EBITDA margins to return to the normative 24-26% range in the second half, likely at the lower end.

G

Q1 FY26 · FY26 consolidated EBITDA growth: double-digit

Management expects double-digit consolidated EBITDA growth for the full year FY26.

G

Q1 FY26 · Standalone EBITDA margins: H1 below normative, H2 improvement

Standalone EBITDA margins in H1 FY26 will be below normative range but expected to improve in H2, aided by palm oil moderation.