Godrej Consumer Products Limited
NSE Symbol GODREJCP
GODREJ CONSUMER PRODUCTS LIMITED has released excellent (STAND ALONE) results for the first quarter ending June 2011 (Q1 FY 12).
STAND ALONE RESULTS
Net Sales stands at Rs.625.55 cr – down by 2.81% from Q4 FY 11; and UP by 97.09% from Q1 FY 11.
Raw Materials cost comes to Rs.269.85 cr – down by 6.01% from Q4 FY 11 but up by 119.57% from Q1 FY 11.
Total Expenditure stands at Rs.539.71 cr – up by 1.96% from Q4 FY 11; and up by 108.47% from Q1 FY 11.
Profit from Operations stands at Rs.96.52 cr – down by 23.65% from Q4 FY 11; and up by 48.74% from Q1 FY 11.
There is and exceptional item of receipt in Q1 FY 12 – of Rs. 156.19 cr.
Profit before tax therefore comes to Rs. 277.05 cr – up by 99.06% from Q4 FY 11 and up by 50.28% from Q1 FY 11.
Net Profit stands at Rs.219.84 cr – up by 98.81% from Q4 FY11 and up by 28.74% from Q1 FY 11.
Basic EPS after EI stands at Rs.6.79 (on a Face Value of Rs.1) – against Rs.3.42 in Q4 FY11; and Rs.5.54 in Q1 FY 11.
Current MP is Rs.454.
CONSOLIDATED RESULTS
Ø Consolidated Net Sales for Q1 FY11-12 at Rs.998 crore up by 40%
Ø Consolidated PBT for Q1 FY11-12 at Rs.307 crore up by 92%
Ø Consolidated Net Profit for Q1 FY11-12 at Rs.239 crore up by 94%
Ø Board of Directors recommend 100% first interim dividend
Ø Strong sales growth in both domestic and international
- 21% growth in domestic business with significant growth across all 3 categories
- International growth led by Indonesia and Latin America
· In line with our focus on innovation, several successful launches in the
Ø quarter backed by sizeable marketing investments
· Announced game changing Darling acquisition in Africa
Ø Net sales grew by 40% to Rs.998 crore and PAT grew by 94% to Rs. 239 crore
· EPS for the quarter increases to Rs.7.4 from Rs.4.0
· Board of Directors declare first interim dividend of Rs.1.0 per share
Ø The figures for the current quarter are not comparable with those of the corresponding quarter of the previous year because of the acquisitions made since then
FINANCIAL OVERVIEW (CONSOLIDATED)
Q1 FY 11-12 (April - June 2011) v/s Q1 FY 10-11 (April - June 2010)
Ø · Net sales increased by 40% to Rs.998 crore
Ø · PBT increased by 92% at Rs.307 crore
Ø · PAT increased by 94% to Rs.239 crore
Ø · EPS for the quarter increased to Rs.7.4 from Rs.4.0
Ø · The Board of Directors has recommended first interim dividend of 100%
Ø resulting in a total outflow of ` 37.6 crore (including Dividend Distribution Tax)
FINANCIAL OVERVIEW
(INDIAN SUB CONTINENT BUSINESS)
Q1 FY 11-12 (April - June 2011) v/s Q1 FY 10-11 (April - June 2010)
Ø Net sales increased by 21% to Rs.641 crore
Ø PBT increased by 99% at Rs.279 crore
Ø PAT increased by 97% to Rs.221 crore
BUSINESS OVERVIEW (INTERNATIONAL)
Q1 FY 11-12 (April - June 2011) v/s
Q1 FY 10-11 (April - June 2010)
International business revenue of Rs.360 crore, a growth of 93%
International business accounts for 36% of consolidated revenue
International business achieved a PBT of Rs.28 crore, after interest costs
The new acquisitions have been EPS accretive
Indonesia
54% of International business revenue
19% comparable sales growth on the back of distribution expansion and
new products
Launched „HIT magic paper‟, disruptive innovative paper format repellent.
- Hit magic paper burns for 3 minutes and has residual efficacy up to 8 hrs
- Launch supported by strong marketing investments
- We expect Hit magic to become a category for new low cost solution users and coil converts
Sales of Rs.194 crore and EBIDTA at Rs.28 crore
EBDITA of 17% before payment of technical & business support fee to GCPL
Africa
Business comprising Rapidol, Kinky and Tura, contributed 12% to International business revenue
Rapidol continues to grow strongly cementing its market leadership position in ethnic hair colour market
Darling group acquisition, to synergize with Kinky business on higher value creation and backward integration benefits
Sales stood at Rs.43 crore and EBIDTA at Rs.4 crore
Latin America
16% of International business revenue
Despite the quarter being traditionally the softest quarter for our Latin America business, given the seasonality over the winter months in the southern hemisphere, business recorded strong comparable sales growth of 22% on the back of distribution expansion and NPDs
We also continue to invest in growing the markets outside Argentina – in areas like Peru, Uruguay, Colombia and Chile. We are working jointly with our distributors in these regions to expand our retail presence, adapt products to suit each market and tailor marketing programmes targeted at the local consumer
Sales stood at Rs.56 crore and EBIDTA at Rs.1 crore
UK
17% of International business revenue
16% sales growth driven by Cuticura, Bio-Oil and Riemann
Sales stood at Rs.62 crore and EBIDTA at Rs.9 crore
ANNOUNCEMENTS TO NSE
23-07-2011 Godrej Consumer Products has declared an interim dividend @ Re.1/- per share (100% on the shares of the face value of Re.1/- each) for the financial year 2011-12. The dividend will be paid on or before August 17, 2011.
02-06-2011 Godrej Consumer Products presentation on Company's Africa Operations.
01-06-2011 Godrej Consumer Products Press Release dated June 01, 2011, titled "Godrej Consumer Products Limited (GCPL) acquires rights for 51% stake in pan-African leading hair care company, Darling Group Holdings".
19-05-2011 Godrej Consumer Products Limited had informed the Exchange regarding the amalgamation of Essence Consumer Care Private Limited ('ECCPPL') and Naturesse Consumer Care Private Limited ('NCCPPL') with Godrej Consumer Products Ltd ('GCPL'). The Company has now informed the Exchange that the Order of the Hon'ble High Court of Judicature at Bombay sanctioning the Scheme of Amalgamation of Essence Consumer Care Private Limited and Naturesse Consumer Care Private Limited with Godrej Consumer Products Ltd ('the Scheme') has been filed with the Ministry of Corporate Affairs on May 18, 2011. Accordingly ECCPPL and NCCPPL, both 100% subsidiaries of GCPL, are merged with GCPL. The Appointed Date of the Scheme is December 03, 2010.
03-05-2011 Godrej Consumer Products Press Release dated May 02, 2011, titled "Consolidated Q4 FY 10-11 Net Sales higher by 96% at Rs. 999 crore, PAT up 54% at Rs. 142 crore. 150% fourth interim dividend declared by the Board of Directors" along with the performance update.
02-05-2011 Godrej Consumer Products Limited has declared a fourth interim dividend for the year 2010-11 at the rate of Rs.1.50/- per share (150% on the face value of Re.1/- each.)
02-05-2011 Godrej Consumer Products Limited standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 239518 lacs for year ending on 31-MAR-2011 against Rs. 126788 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 43496 lacs for the year ending on 31-MAR-2011 against Rs. 24812 lacs for the year ending on 31-MAR-2010.
02-05-2011 Godrej Consumer Products Limited consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 364300 lacs for year ending on 31-MAR-2011 against Rs. 204120 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 51471 lacs for the year ending on 31-MAR-2011 against Rs. 33959 lacs for the year ending on 31-MAR-2010.
RESULTS TABLE:
| GODREZ CONS | 30-Jun-11 | 31-Mar-11 | 30-Jun-10 |
| Net Sales | 62555 | 64361 | 31740 |
| Other Operating Income | 1068 | 1211 | 638 |
| Increase in SIT /WIP | -2312 | 1212 | 2845 |
| Raw Materials | 26985 | 28710 | 12290 |
| Traded Goods | 7815 | 4164 | 686 |
| Employees Cost | 3114 | 2647 | 1520 |
| Depreciation | 711 | 462 | 356 |
| Other Expenditure | 17658 | 15736 | 8192 |
| Total Expenditure | 53971 | 52931 | 25889 |
| Profit from Operations | 9652 | 12641 | 6489 |
| Other Income | 2561 | 1651 | 12071 |
| Interest | 127 | 374 | 125 |
| Exceptional Items | -15619 | - | - |
| Profit before tax | 27705 | 13918 | 18435 |
| Tax expense | 5721 | 2860 | 1359 |
| Net Profit | 21984 | 11058 | 17076 |
| Dividend (%) | - | 150 | 100 |
| Face Value (In Rs | 1 | 1 | 1 |
| Paid Up Equity | 3236 | 3236 | 3082 |
| Basic EPS after EI | 6.79 | 3.42 | 5.54 |
| Public holding (%) | 32.72 | 32.72 | 28.6 |
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