Godrej Consumer Products Margin Trend — Quarter by Quarter

Godrej Consumer Products's EBITDA margin moved from 20.0% in Q2 FY24 to 21.7% in Q4 FY26 across 5 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

Quarter	EBITDA Margin (%)	YoY Change
Q4 FY26	21.7%	—
Q3 FY26	21.6%	—
Q2 FY26	19.3%	—
Q3 FY25	20.0%	—
Q2 FY24	20.0%	—

What management said about ebitda margin

Q4 FY26 · Near-term margin pressure from crude inflation

Management expects EBITDA margin pressure in Q1 and Q2 FY27 due to crude oil at $100-110/bbl, but expects recovery within 3-4 months as pricing actions take effect.

Q4 FY26 · Price hikes implemented in April

Price increases of 5% in soaps, 6-7% in detergents, and 4-5% in household insecticide were implemented in April to offset input cost inflation.

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

Management expects India EBITDA margins to remain within the 24-26% range on an annual basis, with quarterly fluctuations.

Q2 FY26 · India standalone EBITDA margins to return to normative 24-26% in H2

Management expects India margins to return to normative levels (24-26%) in the second half of FY26, albeit at the lower end of the band.

Q2 FY26 · Double-digit EBITDA growth for India and GAUM businesses for FY26

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

Q1 FY26 · Standalone EBITDA margins below normative in H1, improving in H2

H1 FY26 standalone EBITDA margins will be below normative range, but expected to improve in H2 as palm oil benefits and cost savings kick in.

Q1 FY26 · Full-year consolidated EBITDA growth: double-digit

Management expects double-digit consolidated EBITDA growth for FY26.

Q3 FY25 · India EBITDA margin target of 24-26%

Management targets India EBITDA margins in the 24-26% range, expecting to reach this level in the next 6-8 months.

Q3 FY25 · Further pricing actions in soaps

Management indicated need for one or two more rounds of pricing in soaps to restore normative margins.

Q2 FY25 · India EBITDA margin to remain in 24-25% range for next two quarters

Management expects India standalone EBITDA margins to stay between 24% and 25% due to volatile palm oil prices, with no plans to cut media investments.

Q2 FY25 · RCCL EBITDA may fall short of 145-150 crore target

The Raymond consumer portfolio EBITDA may be slightly below the promised 145-150 crore for the year due to distribution missteps in urban general trade.

Q2 FY25 · Africa margins to improve to high teens over next year or two

Africa EBITDA margins are expected to reach high teens, driven by supply chain efficiencies and stable macro conditions.