international operations quarterly update: q3 & 9m 2008-09 soaps hair colours liquid detergents...

International Operations

Quarterly Update: Q3 & 9M 2008-09

Soaps Hair Colours

LiquidDetergents Toiletries

Contents• Performance Highlights - Consolidated

• Business Review - Domestic

• GCPL Financials & Ratios - Stand Alone

• International Operations.

Performance Highlights

Consolidated

PAT (Rs. Crore)

40.1 43.0

113.9 118.4

0255075

100125

Q3 0809 Q3 0708 9M 0809 9M 0708PBT (Rs. Crore)

48.9 50.6

140.4 138.6

0

50

100

150

Q3 0809 Q3 0708 9M 0809 9M 0708

PBDIT (Rs. Crore)

49.8 58.3

145.6161.9

0

50

100

150

200

Q3 0809 Q3 0708 9M 0809 9M 0708

Financial Highlights - Consolidated

Net Sales (Rs. Crore)

342.1 272.8

1050.3

833.1

75275475675875

1075

Q3 0809 Q3 0708 9M 0809 9M 0708

EPS (Annualised Rs.)

6.2

7.6

6.0

7.0

4.0

5.0

6.0

7.0

8.0

Q3 0809 Q3 0708 9M 0809 9M 0708

EVA (Rs. Crore)

25.8

36.9

72.2

96.8

0

20

40

60

80

100

Q3 0809 Q3 0708 9M 0809 9M 0708

Financial Highlights - Consolidated

Ratios - ConsolidatedConsolidated Q3 0809 Q3 0708 9M 0809 9M 0708

A&P / Sales 8% 8% 8% 8%PBDIT / Sales 15% 21% 14% 19%PBT / Sales 14% 19% 13% 17%PAT / Sales 12% 16% 11% 14%

Business Review - Domestic

Q3 FY 2008-09

Q3 FY 2008-09 Scenario: Domestic• Industry Scenario

– FMCG sector growth continues to be strong– Strong GDP growth & good economic fundamentals – Vegetable oil prices show declining trend– Rupee weakened versus the USD

• The Company has one business segment in which it operates viz. Personal & Household Care

• GCPL PerformanceIndustry Growth

(AC Nielsen Off Take)GCPL Standalone(Sales Growth)

Q3 ‘0809 Q3 ‘0809Toilet Soaps 21% 22%Hair Colours 25% 14%

*Off take in value terms @ MRP

Sales Growth (Standalone)

Toilet Soaps (Rs. Crore)

163.8 134.1

523.5442.2

0

150

300

450

600

Q3 0809 Q3 0708 9M 0809 9M 0708

Hair Colour (Rs. Crore)

57.0 50.1

161.1 146.9

0

50

100

150

200

Q3 0809 Q3 0708 9M 0809 9M 0708

Liquid Detergents (Rs. Crore)

31.427.9

37.431.8

0

10

20

30

40

Q3 0809 Q3 0708 9M 0809 9M 0708Toileteries (Rs. Crore)

12.7 11.7

47.441.0

01020304050

Q3 0809 Q3 0708 9M 0809 9M 0708

Q3 Highlights

Key initiatives during Q3 FY 0809• Soaps

– Market share for Q3 FY 0809 is 9.7%.– Godrej No.1 – Strawberry & Walnut launched

• Hair Colours– Market share for Q3 FY 0809 is 32.4%.

• Liquid Detergents– Market share for Q3 FY 0809 is 81.3%.

Soaps - Revenue & Market Share

145.

31

162.

81

117.

9

106.

7

134.

08

124.

42

183.

29

183.

37

163.

75

9.7

10.210.0

9.49.29.1 9.1

9.59.7

45

65

85

105

125

145

165

185

Q3 FY07 Q4 FY07 Q1 FY08 Q2 FY08 Q3 FY08 Q4 FY08 Q1 FY09 Q2 FY09 Q3 FY09

Reve

nue

Rs. C

rore

5

6

7

8

9

10

11

Mark

et S

hare

(%)

Revenues Market Share

Source: AC Nielsen data % for All India value MS

Market Share is 9.7% for Q3 08-09

Hair Colours - Revenue & Market Share

44.5

47.2

47.7

52.4

50.1 57

.8

62.2

41.9

57.0

38.0

32.435.9

34.9

34.9

35.134.2 33.736.2

0

10

20

30

40

50

60

70

Q3 FY07 Q4 FY07 Q1 FY08 Q2 FY08 Q3 FY08 Q4 FY08 Q1 FY09 Q2 FY09 Q3 FY09

Reve

nue

(Rs.

Cro

re)

20

22

24

26

28

30

32

34

36

38

40

Mark

et S

hare

(%)

Revenues Mkt share

Market Share is 32.4% for Q3 08-09

Source: AC Nielsen data % for All India value MS

Liquid Detergents - Revenue & Market Share

31.2

31.3727.928.7

6.685.3

4.4 4.422.83.91 1.1 1.56

85.4

80.175.6

82.0 81.377.181.0

78.580.781.879.8

70.668.1

0

5

10

15

20

25

30

35

Q3FY06

Q4FY06

Q1FY07

Q2FY07

Q3FY07

Q4FY07

Q1FY08

Q2FY08

Q3FY08

Q4FY08

Q1FY09

Q2FY09

Q3FY09

Reve

nue

(Rs.

Cro

re)

0

10

20

30

40

50

60

70

80

90

100

Mark

et S

hare

(%)

Revenues Mkt share

Market Share is 81.3% for Q3 08-09

Source: AC Nielsen data % for All India value MS

Financials & Ratios

GCPL Standalone

PAT (Rs. Crore)

38.9 41.5

105.5 111.0

0255075

100125

Q3 0809 Q3 0708 9M 0809 9M 0708PBT (Rs. Crore)

44.9 47.3

121.9 126.3

0

50

100

150

Q3 0809 Q3 0708 9M 0809 9M 0708

PBDIT (Rs. Crore)

40.953.2

115.5

144.9

0

50

100

150

Q3 0809 Q3 0708 9M 0809 9M 0708

Financial Highlights - Standalone

Net Sales (Rs. Crore)

272.2 229.1

808.8675.2

0150300450600750900

Q3 0809 Q3 0708 9M 0809 9M 0708

Q3 FY 08-09 Sales Mix (Standalone)

Soaps60%

By-Prod's2%

Hair Colour21%

Toileteries5%

Liq. Dets12%

Dividend – Q3 FY 08-09• Q3 Dividend announced

Dividend per Share Re. 1

Dividend 100 % Total outlay Rs.30.2 crore (including tax on distributed profits)

Dividend 250% till date for 2008-09

Dividend payout 72% YTD PAT (Standalone)

Balance Sheet (Standalone)Liabilities (Rs. Crore)Liabilities (Rs. Crore) 31-Dec-0831-Dec-08Net Worth 569.52Other Liabilities 49.02Total 618.54

Assets (Rs. Crore)Assets (Rs. Crore) 31-Dec-0831-Dec-08Net Fixed Assets 177.45Investment in Subsidiaries 87.35Investment – OtherCash & Bank Balance

329.8413.63

Net Current Assets 10.27Total 618.54

*Includes Capital Work in Progress & Capital Advances

Funds Flow (Standalone)Q3 08-09(Rs. Crore)

SOURCESSOURCESInternal AccrualsInvestment redemption Cash & Bank

39.889.528.31

Total 57.71

APPLICATIONSAPPLICATIONSRepayment of Loan 15.93Investment in subsidiaries 3.25Working capital changesBuyback of sharesDividend payout – Q2 FY 2008-09

14.181.70

22.65Total 57.71

Cost Structure (Standalone)Amount in Rs.

CroreQ3

0809% of Sales

Q3 0708

% of Sales

9M 0809

% of Sales

9M 0708

% of Sales

Materials Cost 164.17 60% 105.88 46% 477.36

59% 331.45

49%

Staff Cost 10.75 4% 13.66 6% 41.51 5% 40.04 6%Depreciation 3.44 1% 3.92 2% 11.50 1% 11.90 2%Advertisement 18.90 7% 14.81 6% 51.67 6% 42.37 6%Other Expenses 39.59 15% 43.81 19% 132.4

716% 121.6

618%

Interest & Fin. Charges

(7.47) (3%) 1.96 1% (17.93)

(2%) 6.66 1%

Provision for Taxation

5.98 2% 5.85 3% 16.44 2% 15.35 2%

PAT 38.92 14% 41.47 18% 105.45

13% 110.95

16%

Net Sales 272.16 100% 229.05 100% 808.84

100% 675.16

100%

Ratios - StandaloneQ3 0809 Q3 0708 9M 0809 9M 0708

A&P / SalesPBDIT / Sales

7%15%

6%23%

6%14%

6%21%

PBT / Sales 16% 21% 15% 19%PAT / Sales 14% 18% 13% 16%NWC / Sales (days) (6) (14) (6) (14)Fixed Asset TO Ratio 6.3 4.2 6.3 4.2ROCE 24% 68% 22% 61%RONW 27% 91% 25% 81%

Recent Events / Recognitions• GCPL has been ranked 6th in the “Best Companies to Work for

in India” survey done by Mercer Consulting and Business Today.

• GCPL announced the buyback of its fully paid up equity shares of FV Re.1 up to 17,203,533 equity shares (minimum number 250,000 equity shares) at a price not exceeding Rs.150 per equity share.

International Operations

Kinky Group Proprietary Ltd.

Godrej Global Middle East FZE

Godrej Consumer Products Mauritius Ltd- Performance (Holding company of Kinky Group (Pty) Ltd)

** After accounting for finance cost of acquisition

Date of Acquisition: 01-Apr-2008

Rs. Crore Q3 0809 9M 0809Total Income

17.02 40.65

PBIT 3.12 7.30Interest 2.41 5.12PBT 0.71 2.18Tax 1.03 2.56PAT (0.32) (0.38)

• Kinky opened 5 new stores in Q3 2008-09, taking the total number of stores to 22.

Godrej Netherlands BV- Consolidated* Performance

** After accounting for finance cost of acquisition

Date of Acquisition: 31-Oct-2005

Rs. Crore Q3 0809 Q3 0708 9M 0809 9M 0708Total Income

33.6 30.2 159.9 123.4

PBIT 3.6 3.2 19.2 12.0Interest 1.0 1.1 2.9 3.0PBT 2.6 2.1 16.3 9.0Tax 1.0 0.8 5.6 3.0PAT 1.6 1.3 10.7 6.0

Rapidol Pty Ltd-Performance

Rs. Crore Q3 0809 Q3 0708 9M 0809 9M 0708Total Income

14.3 14.6 37.8 38.2

PBIT 2.2 2.5 5.8 5.4PBT 2.6 2.5 6.7 5.4Tax 0.8 0.6 1.9 1.5PAT 1.8 1.9 4.8 3.9

# After accounting for finance cost of acquisition

Date of Acquisition: 01-Sep-2006

Godrej Global Middle East (GGME)

Rs. Crore Q3 0809 Q3 0708 9M 0809Total Income

3.43 2.03 9.21

PBIT 0.16 0.09 0.35Interest 0.04 0.02 0.10PBT 0.12 0.07 0.25Tax - - -PAT 0.12 0.07 0.25

* Represents the performance of the business w.e.f October 1, 2007

Date of Acquisition: 01-Oct-2007

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