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Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Godrej Consumer Products LimitedGodrej Consumer Products Limited
31 January 200431 January 2004
Quarterly updateQuarterly update
Q3 & 9M 2003-04Q3 & 9M 2003-04
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
ContentsContents
• HighlightsHighlights
• Business HighlightsBusiness Highlights
• Key FinancialsKey Financials
• Key RatiosKey Ratios
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Highlights Q3 & 9M 2003-04Highlights Q3 & 9M 2003-04 Q3 ’03-04 Q3 ’02-03 9M ’03-04 9M 02-03
Sales (own Brands)Sales (own Brands) 125.4 125.4 3% 3% 121.2 347.5 121.2 347.5 5%5% 329.8 329.8
(net of excise)(net of excise)
Contract MfgContract Mfg 0.1 0.1 (97%)(97%) 4.6 8.6 4.6 8.6 (51%)(51%) 17.5 17.5
Total SalesTotal Sales 128.3 128.3 (1%)(1%) 128.9 367.6 128.9 367.6 1%1% 362.4 362.4
Material CostMaterial Cost 54.8 54.8 63.0 178.2 63.0 178.2 171.0 171.0
A & PA & P 17.4 17.4 16.0 16.0 39.539.5 44.7 44.7
PBDITPBDIT 25.8 25.8 14% 14% 22.7 22.7 63.563.5 (3%)(3%) 65.7 65.7
PATPAT 17.9 17.9 21% 21% 14.814.8 45.645.6 10%10% 41.6 41.6
EVAEVA 14.8 14.8 26% 26% 11.711.7 37.037.0 16%16% 31.9 31.9
EPS (Rs.)EPS (Rs.) 12.6 12.6 24%24% 10.2 10.2 10.610.6 12%12% 9.5 9.5
Amts in Rs. CroreAmts in Rs. Crore
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Dividend (2003-04)Dividend (2003-04)
• Third Interim Dividend announced
Dividend per share Rs.2.00
Dividend % 50%
Total outlay (including tax on Rs.12.8 Cr distributed profits)
Dividend % till date for 2003-04 150%
Dividend payout as a % of YTD PAT 84.7%
( Dividend payout has been taken incl distribution tax)
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Shares Buy-backShares Buy-back• Fourth buyback from open market at a price not
exceeding Rs.200 per share at a total outlay of Rs.3.7 crore –
- 135477 shares bought back till date at an outlay of Rs 2.06 crore
• Fifth buyback from open market (to commence after the completion of Fourth buyback) at a price not exceeding Rs.200 per share at a total outlay of Rs.8.4 crore approved by the Board (subject to shareholders approval)
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Business HighlightsBusiness Highlights
Industry Scenario• Rupee continues to strengthen vs US Dollar
• Vegetable Oil prices are moving up
• Most categories in FMCG continue to degrow
• Import duties on vegetable oils have come down
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Business Highlights Business Highlights contd..contd..
• GCPL has been included in the BSE “A” Group w.e.f Nov 3, 2003
• GCPL’s Malanpur Factory received the Qimpro Certificate of Merit in recognition of being “Proficient and accepted by industry as being a superior operation”.
• In Dec’03 the Malanpur Factory also won the National Safety Council of India’s award “in recognition of developing & implementing effective management systems & procedures”.
• GCPL Malanpur factory won 12 awards in NCQC 2003 held at Madurai
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Soap• Growth - GCPL brands in Q3 2003-04
8% in volume terms • Godrej No.1 grew by 19% in volume terms during Q3 2003-04
• Cinthol recognised by superbrands Council (UK) to be a super brand; also mentioned amongst ‘Brand Equity’ most trusted brands in 2003
• Himachal Pradesh unit has commenced operations in Jan’04
Business Highlights Business Highlights contd..contd..
Personal Care• Godrej Renew cream hair colour launched
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Sales Growth vs Industry GrowthSales Growth vs Industry GrowthOct-Dec ‘03 vs Oct-Dec ‘02Oct-Dec ‘03 vs Oct-Dec ‘02
IndustryIndustry GCPL GCPL GCPL GCPL
(ORG offtake) (ORG offtake)(ORG offtake) (ORG offtake) ShipmentShipment
Toilet Soaps (5%) 10% 2%
Hair Colours 7% 4% 3%
All figures shown are % change for All India ValueSource :Industry data : ORG MARG
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Market SharesMarket Shares
All figures shown are % for All India Value MSSource : ORG Data
Oct-Dec’03 Oct-Dec’03
Oct-Dec’02Oct-Dec’02
Toilet Soaps 6.7% 5.8%
Hair Colours 42.7% 44.0%
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Rs Crore
Segment Revenue Q3 03-04 Q3 0203 9M 03-04Q3 03-04 Q3 0203 9M 03-04 9M 0203 9M 0203
Soap 64.7 68.4 230.1 228.6 Personal Care 63.6 60.8 139.5 139.5Unallocated income - - - -Total 128.3 129.2 369.6
368.1PBIT Soap 5.4 2.7 19.6 18.7Personal Care 22.6 21.6 49.3 51.0Segment PBIT 28.1 24.3 68.9 69.7
Less Interest (Net) 0.7 1.0 1.8 2.5Less other unallocated expenses 4.7 3.9 12.3 10.8PBT 22.7 19.4 54.7 56.5
Segmental data (Q3 & 9M 2003-04)Segmental data (Q3 & 9M 2003-04)
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Segmental data (Q3 & 9M 2003-04)Segmental data (Q3 & 9M 2003-04)
Rs Crore
Segment Capital Employed Q3 & 9M 03-04Q3 & 9M 03-04 Q3 & 9M 0203Q3 & 9M 0203
Soap * 38.9 51.6
Personal Care 23.7 12.1
Unallocated 17.5 21.5
Total 80.1 85.2
* Includes Contract Manufacturing
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Category-wise Turnover Q3Category-wise Turnover Q3Rs Crore
Turnover (net of Excise) Q3 03-04Q3 03-04 Q3 02-03 Growth %Q3 02-03 Growth %
Toilet Soaps 62.4 61.1 2%
Hair Colours 30.1 29.1 3%
Liquid Detergents 27.2 25.7 6%
Toiletries 5.7 5.3 7%
Total Godrej Brands 125.4 121.2 3%
Contract Mfg 0.1 4.6 (97%)
By-Products 2.8 3.1 (11%)
Total Sales 128.3 128.9 (1%)
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Sales-Mix Q3 - 2003-04Sales-Mix Q3 - 2003-04
Godrej Brand Toilet Soaps
(Rs.62.4 cr)
(50%)
Contract Mfg(Rs.0.1 cr)
(0%)
Liquid Detergent(Rs.27.2 cr)
(21%)
Hair Colours(Rs.30.1 cr)
(23%)
Toiletries(Rs. 5.7 cr)
(4%)
By-Products(Rs.2.8 cr)
(2%)
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Category-wise Turnover 9MCategory-wise Turnover 9MRs Crore
Turnover (net of Excise) 9M 03-049M 03-04 9M 02-03 Growth %9M 02-03 Growth %
Toilet Soaps 209.9 192.6 9%
Hair Colours 86.9 85.1 2%
Liquid Detergents 31.2 29.7 5%
Toiletries 19.5 22.4 (13%)
Total Godrej Brands 347.5 329.8 5%
Contract Mfg 8.6 17.5 (51%)
By-Products 11.5 15.1 (24%)
Total Sales 367.6 362.4 1%
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Sales-Mix 9M - 2003-04Sales-Mix 9M - 2003-04
Godrej Brand Toilet Soaps
(Rs.209.9 cr)
(58%)
Contract Mfg(Rs.8.6 cr)
(2%)
Liquid Detergent(Rs.31.2 cr)
(8%)
Hair Colours(Rs.86.9 cr)
(24%)
Toiletries(Rs.19.5 cr)
(5%)
By-Products(Rs.11.5 cr)
(3%)
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
FinancialsFinancials
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Summarised Profit & Loss AccountSummarised Profit & Loss Account Rs Crore
Q3 03-04 Q3 02-03 Q3 03-04 Q3 02-03 9M 03-04 9M 02-03 9M 03-04 9M 02-03
Sales (Net of Excise) 128.3 128.9 (1%) 367.6 362.4 1%
- Godrej Brands 125.4 121.2 3% 347.5 329.8 5%
- Contract Mfg 0.1 4.6 8.6 17.5
- By-products 2.8 3.1 11.5 15.1
Processing charges 0.0 0.3 2.0 5.7
Other Income 0.2 0.2 0.8 0.7
Expenditure 102.7 106.7 306.9 303.1
PBDIT 25.8 22.7 14% 63.5 65.7 (3%)Depreciation 2.4 2.3 7.0 6.8
Interest 0.7 1.0 1.8 2.5
PBT 22.7 19.4 17% 54.7 56.5 (3%)
PAT 17.9 14.8 21% 45.6 41.6 10%
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Balance Sheet Balance Sheet
Liabilities Assets
31-12-03 30-9-03 31-12-03 30-09-03
Equity Capital 22.8 22.8 Net Fixed Assets 97.8 90.2
Reserves 34.0 30.8 Cash & Bank Bal 6.4 14.2
Debt 17.4 18.3 Investments 9.2 0.0
Def Tax Liability 5.9 5.2 Net Current Assets (33.3) (27.3)
Dividend payable 0.0 0.0
Total 80.1 77.1 Total 80.1 77.1
Rs.Crore
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Rs Crore
Q3 03-04 9M 03-04
SOURCES
Internal Accruals 20.3 52.6
Total 20.3 52.6
APPLICATION
Debt 0.9 0.5
Capital Expenditure 10.0 16.9
W.Capital change (6.7) (16.6)
Change in cash & investments 1.4 4.4
Shares Buyback 1.9 8.7
Dividend 12.8 38.7
Total 20.3 52.6
Funds Flow Funds Flow
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Cost Structure (Q3 2003-Cost Structure (Q3 2003-04)04) Rs.Crore Rs Crore
Q3 ’03-04 %of Sales Q3 ’02-03 %of
sales
Materials cost 54.8 42.7% 63.0 48.9%
Staff Cost 6.6 5.1% 7.4 5.7%
Advtg & Sales Promotion 17.4 13.6% 16.0 12.4%
Other Expenditure 24.0 18.7% 20.3 15.7%
Interest & Financial Charges 0.7 0.5% 1.0 0.8%
Depreciation 2.4 1.9% 2.3 1.8%
Provision for Taxation 4.8 3.7% 4.6 3.6%
PAT 17.9 14.0% 14.8 11.5%
Sales 128.3 100.0% 128.9 100.0%
Processing charges 0.0 0.0% 0.3 0.2%
Other Income 0.2 0.2% 0.2 0.2%
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Cost Structure (9M 2003-Cost Structure (9M 2003-04)04) Rs.Crore Rs Crore
9M ’03-04 %of Sales 9M ’02-03 %of
sales
Materials cost 178.2 48.5% 171.0 47.2%
Staff Cost 18.5 5.0% 19.9 5.5%
Advtg & Sales Promotion 39.5 10.7% 44.7 12.3%
Other Expenditure 70.8 19.3% 67.5 18.6%
Interest & Financial Charges 1.8 0.5% 2.5 0.7%
Depreciation 7.0 1.9% 6.8 1.9%
Provision for Taxation 9.1 2.5% 14.9 4.1%
PAT 45.6 12.4% 41.6 11.5%
Sales 367.6 100.0% 362.4 100.0%
Processing charges 2.0 0.5% 5.7 1.6%
Other Income 0.8 0.2% 0.7 0.2%
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Key RatiosKey Ratios
Q3 03-04 Q3 02-03 9M 03-
04 9M 02-03
PBDIT / Sales 20.1% 17.6% 17.3% 18.1%
PBT / Sales 17.7% 15.0% 14.9% 15.6%
PAT / Sales 14.0% 11.5% 12.4% 11.5%
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
Key Ratios contd..Key Ratios contd..
Q3 03-04 Q3 02-03 9M 03-
04 9M 02-03
NWC / Sales (days) (23) (11) (24) (12)
Fixed Asset T/o Ratio 5.2 5.8 5.0 5.4
Total Asset T/o Ratio 6.4 6.1 6.1 5.7
ROCE* 116.8% 95.8% 94.2% 92.2%
RONW* 126.3% 95.8% 107.1% 89.8%
EPS (on Rs 4 Share) 12.6 10.2 10.6 9.5
All figures are annualised* On closing Capital Employed & Closing Networth
Godrej Consumer Products Limited
Q3 2003-04 Performance Update
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