 "Godrej Consumer Products to set up new Rs 515 crore plant in Tamil Nadu")
Godrej Consumer Products Ltd (GCPL) will set up a new manufacturing facility in Tamil Nadu with an investment of Rs 515 crore over the next five years. According to a regulatory filing by the company, it has signed a memorandum of understanding (MoU) with Tamil Nadu's government for the same.
The plant will be strategically located in Chengalpattu near Chennai.
"This state-of-the-art plant will play a pivotal role in accelerating our delivery times, optimising inventory management, and significantly reducing overall costs. It will serve as a manufacturing hub for a wide range of our renowned brands and products, such as Cinthol, Godrej Expert Rich Crème, Godrej Selfie Shampoo Hair Colour, and Goodknight, bolstering our market presence further," said Sudhir Sitapati, managing director and chief executive officer of Godrej Consumer Products.
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Moreover, the plant is expected to create jobs for 400 people.
"With the establishment of this facility, we will create over 400 job opportunities in Tamil Nadu. This facility aims to have an inclusive and gender-balanced workforce. Our plan is to employ 50 per cent of women for this facility along with 5 per cent of employees from LGBTQ and people with disability (PWD) communities," said Nisaba Godrej, executive chairperson of GCPL.
"This development holds great promise as it is set to have a positive impact on our local economy by generating employment opportunities and driving our state's industrial growth," added MK Stalin, chief minister of the state.
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Earlier, GCPL reported a year-on-year (YoY) fall in net profit at Rs 318.8 crore for the quarter that ended June 30. In the corresponding quarter last year, the company had posted a net profit of Rs 345.1 crore.