Godrej sees more opportunities in overseas acquisitions, says Adi Godrej

The Godrej Group sees more opportunity in overseas acquisitions, says its chairman Adi Godrej.

Godrej said currently opportunity is more in overseas markets and his group is exploring acquisitions not beyond developing nations.

The group's overseas revenue constitutes 25-30 per cent of its turnover.

The group is targeting Asia, Africa and Latin America in personal care, home care and hair care categories to propel growth.

The Group has targeted a CAGR of 26 per cent from organic and inorganic growth till 2020.

"We intend to grow at a compounded annual growth rate of 26 per cent in the coming years. Growth will come both organically and inorganically through acquisitions", Godrej told reporters last evening.

The Group's consumer division - Godrej Consumer Products (GCPL) - aims to acquire 100 per cent stake in African hair care company Darling Group in stages.

The group has operations in 14 countries.

"We intend to buy 100 per cent in the company in phases", Godrej said.

In June 2011, GCPL had acquired a 51 per cent stake in Darling Group.

Godrej group in its vison 2020 aims a 10-fold growth in topline in 10 years.

The chairman said the vison of the company has factored in the growth potential of India to surpass US and Chinese economies by 2040-50.