[5] The consumer products business was part of the erstwhile Godrej Soaps Limited (GSL) and was demerged into Godrej Consumer Products Limited in April 2001, pursuant to a scheme of demerger approved by the Honorable High Court of Judicature, Mumbai, dated 14 March 2001.

GCPL has bought out foreign companies such as Keyline Brands Limited (United Kingdom) in 2005, Rapidol (Pty) Limited in 2006, and Godrej Global Mid East FZE in 2007 and Argencos in Argentina, and later acquired Cosmética Nacional, a Chilean company.

In 2012, it made an entry into fast-growing air freshener category by launching a new fragrance product "aer" in the market.

GCPL's R&D departments focus on developing new products, standardising new analytical methods[clarification needed] and finding cheaper and more abundant alternatives to key raw materials.

The Godrej Research & Development Centre is recognised by the Department of Science and Technology, New Delhi.