Despite facing de-growth in the soaps category, Godrej Consumer Products (GCPL) is not willing to drop prices immediately to generate demand at a time when consumer spends are down.

Market leader in soaps, HUL (Hindustan Unilever), has been resorting to prices increases for its soaps portfolio and GCPL, the second largest player, is now expected to follow suit.

"For the moment we will look at consumer offers to stimulate demand, but we are open to calibrated price increases. We are still keeping a watch on palm oil prices,’’ said Vivek Gambhir, Managing Director, GCPL, during an analyst meet.