Godrej Consumer Products Ltd (GCPL) Good Knight-Fast Card a non electrical format to tap the rural market is available for Rs10 for booklet of 10 cards (Re1 card). It provides a protection for four hours.
GCPL introduced the new format of household insecticides to encourage non-users (especially in rural India) to use the product. It is the much better alternative to loose and broken coils.
Half of the population doesn’t use any household insecticide in India. Around 72% of the rural population doesn’t use any household insecticide.
The format was first launched in Indonesia under the brand name of Hit. The product got good response in Indonesia, as one of the cheapest mode to keep away the mosquitoes.
Sharekhan view: We liked the cross pollination strategy and expect it to gain excellent response in the domestic market. We believe the product will help to maintain the strong growth momentum for GCPL’s household insecticide segment in medium to long term. The launch of innovative product is overall for positive for Household Insecticide segment in India, as it will help in improving the penetration of the segment.
At 11.17 am, Godrej Consumers was trading at Rs808.70, up by 0.87%, with a volume of 789 shares trading on BSE.