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Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Godrej Consumer Products LimitedGodrej Consumer Products Limited
22 January 200522 January 2005
Quarterly updateQuarterly update
Q3 & 9M 2004-05Q3 & 9M 2004-05
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
ContentsContents
• HighlightsHighlights
• Business HighlightsBusiness Highlights
• Key FinancialsKey Financials
• Key RatiosKey Ratios
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Highlights Q3 & 9M 2004-05Highlights Q3 & 9M 2004-05 Q3 ’04-05 Q3 ’03-04 9M ’04-05 9M 03-04
Sales (own Brands)Sales (own Brands) 142.5 142.5 14%14% 125.4 395.0 125.4 395.0 14%14% 347.5 347.5
(net of excise)(net of excise)
Contract MfgContract Mfg 7.6 7.6 0.1 19.2 0.1 19.2 8.7 8.7
Total SalesTotal Sales 153.5 153.5 20%20% 128.3 424.3 128.3 424.3 15%15% 367.6 367.6
Material CostMaterial Cost 72.7 72.7 54.8 214.1 54.8 214.1 178.2 178.2
A & PA & P 17.5 17.5 17.4 17.4 45.245.2 14%14% 39.5 39.5
PBDITPBDIT 32.7 32.7 27% 27% 25.8 25.8 77.877.8 22%22% 63.5 63.5
PATPAT 26.0 26.0 45%45% 17.917.9 60.860.8 33%33% 45.6 45.6
EVAEVA 23.6 23.6 59% 59% 14.814.8 54.654.6 48%48% 37.0 37.0
EPS (Rs.)EPS (Rs.) 18.4 18.4 46% 46% 12.6 12.6 14.314.3 35%35% 10.6 10.6
Amts in Rs. CroreAmts in Rs. Crore
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
AnnouncementAnnouncement
• Interim DividendInterim Dividend
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Dividend (2004-05)Dividend (2004-05)
• Third Interim Dividend announced
Dividend per share Rs.3.00
Dividend % 75%
Total outlay (including tax on Rs.19.2 Cr distributed profits)
Dividend % till date for 2004-05 175%
Dividend payout % YTD 74%
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Business HighlightsBusiness Highlights
Industry Scenario• Economy firmly on the growth path
• Inflation has eased at 5.6% (WPI) for the week ending 8-Jan-05
• Prices of vegetable oils declining
• Most categories are showing accelerating growth
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Business HighlightsBusiness Highlights
• Once again recognised as a “Great Place to Work” in the Great Places to Work Survey conducted by Businessworld and Grow Talent - Ranked 7th.
• Received the “Best Managed Workforce” award from CNBC / Hewitt Associates based on their Best Employers Survey
• Initiative in progress to enhance efficiencies in the entire supply chain and improve distribution
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Soap• Growth - GCPL brands
23% in value terms • Strong growth in Cinthol, Godrej No.1
Business Highlights Q3 2004-05Business Highlights Q3 2004-05
Personal CareHair colour
• Hair Colour grows 10% in value terms
• Fashion Colour (powder) in sachets launched
• Powder Hair Dye sachet distribution crosses the 2 Million mark
• Four new shades launched under the Godrej Renew Brand
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Industry Industry GCPLGCPL
(ORG offtake) (ORG offtake) ShipmentShipment
Toilet Soaps 7.1% 23%
Hair Colours 22.3% 10%
Sales Growth vs Industry GrowthSales Growth vs Industry GrowthOct-Dec ‘04 vs Oct-Dec‘03Oct-Dec ‘04 vs Oct-Dec‘03
All figures shown are % change for All India ValueSource :Industry data : ORG MARG
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Market shareMarket share
Oct-Dec’04 Oct-Dec’04 Oct-Dec’03Oct-Dec’03
Toilet Soaps 8.3% 6.8%
Hair Colours 40.0% 42.4%
All figures shown are % for All India Value MSSource : ORG MARG
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Rs Crore Rs.Crore
Segment Revenue Q3 04-05 Q3 04-05 Q3 03-04 9M 04-05 Q3 03-04 9M 04-05 9M 03-049M 03-04Soap 87.0 64.7 277.9 230.1 Personal Care 66.5 63.6 146.3 139.5 Unallocated income - - - - Total 153.5 128.3 424.3
369.6
PBIT Soap 6.8 5.4 26.5 19.6Personal Care 27.4 22.6 56.6 49.3Segment PBIT 34.2 28.1 83.1 68.9
Less Interest (Net) 0.9 0.7 2.4 1.8
Less other unallocated exp 4.3 4.7 13.3 12.3 PBT 29.0 22.7 67.4 54.7
Segmental data (Q3 & 9M 2004-05)Segmental data (Q3 & 9M 2004-05)
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Rs Crore
Segment Capital Employed Q3 & 9M 04-05 Q3 & 9M 03-04 Q3 & 9M 04-05 Q3 & 9M 03-04
Soap * 49.8 38.9
Personal Care 19.0 23.7
Unallocated 26.3 17.5
Total 95.1 80.1
* Includes Contract Manufacturing
Segmental data (Q3 and 9M 2004-05)Segmental data (Q3 and 9M 2004-05)
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Category-wise Turnover Q3 2004-05Category-wise Turnover Q3 2004-05Rs Crore
Turnover (net of Excise) Q3 04-05Q3 04-05 Q3 03-04 Growth %Q3 03-04 Growth %
Toilet Soaps 76.7 62.4 23%
Hair Colours 33.2 30.1 10%
Liquid Detergents 27.8 27.2 2%
Toiletries 4.8 5.7 (15%)
Total Godrej Brands 142.5 125.4 14%
Contract Mfg 7.6 0.1
By-Products 3.4 2.8
Total Sales 153.5 128.3 20%
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Sales-Mix Q3 - 2004-05Sales-Mix Q3 - 2004-05
Godrej Brand Toilet Soaps
(Rs.76.7 cr)
(50%)
Contract Mfg(Rs.7.6 cr)
(5%)
Liquid Detergent(Rs.27.8 cr)
(18%)
Hair Colours(Rs.33.2 cr)
(22%)
Toiletries(Rs. 4.8 cr)
(3%)
By-Products(Rs.3.4 cr)
(2%)
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Category-wise Turnover 9M 2004-05Category-wise Turnover 9M 2004-05Rs Crore
Turnover (net of Excise) 9M 04-059M 04-05 9M 03-04 Growth %9M 03-04 Growth %
Toilet Soaps 250.6 209.9 19%
Hair Colours 95.5 86.9 10%
Liquid Detergents 31.8 31.2 2%
Toiletries 17.2 19.5 (12%)
Total Godrej Brands 395.0 347.5 14%
Contract Mfg 19.2 8.7
By-Products 10.1 11.5
Total Sales 424.3 367.6 15%
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Sales-Mix 9M - 2004-05Sales-Mix 9M - 2004-05
Godrej Brand Toilet Soaps
(Rs.250.6 cr)
(59%)
Contract Mfg(Rs.19.2 cr)
(5%)
Liquid Detergent(Rs.31.8 cr)
(7%)
Hair Colours(Rs.95.5 cr)
(23%)
Toiletries(Rs.17.2 cr)
(4%)
By-Products(Rs.10.1 cr)
(2%)
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
FinancialsFinancials
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Summarised Profit & Loss AccountSummarised Profit & Loss Account Rs Crore
Q3 04-05 Q3 03-04 Q3 04-05 Q3 03-04 9M 04-05 9M 03-04 9M 04-05 9M 03-04
Sales (Net of Excise) 153.5 128.3 20% 424.3 367.6 15%
- Godrej Brands 142.5 125.4 14% 395.0 347.5 14%
- Contract Mfg 7.6 0.1 19.2 8.6
- By-products 3.4 2.8 10.1 11.5
Processing charges 0.0 0.0 0.0 2.0
Other Income 0.3 0.2 1.4 0.8
Expenditure 121.1 102.7 347.9 306.9
PBDIT 32.7 25.8 27% 77.8 63.5 22%Depreciation 2.8 2.4 8.0 7.0
Interest 0.9 0.7 2.4 1.8
PBT 29.0 22.7 28% 67.4 54.7 23%
PAT 26.0 17.9 45% 60.8 45.6 33%
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Balance Sheet Balance Sheet
Liabilities Assets
31-12-04 30-09-04 31-12-04 30-09-04
Equity Capital 22.6 22.6 Net Fixed Assets 103.0 104.3
Reserves 49.9 36.6 Cash & Bank Bal 7.0 7.6
Debt 13.7 16.3 Investments 16.0 0.0
Def Tax Liability 8.9 8.2 Net Current Assets (30.9) (28.2)
Total 95.1 83.7 Total 95.1 83.7
Rs.Crore
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Rs Crore
Q3 04-05 9M 04-05
SOURCES
Internal Accruals 28.8 68.6
Total 28.8 68.6
APPLICATION
Debt Repayment 2.6 10.5
Capital Expenditure 1.5 7.0
W.Capital change (3.5) (7.5)
Change in cash & investments 15.4 9.0
Shares Buyback 0.0 4.8
Dividend 12.8 44.8
Total 28.8 68.6
Funds Flow Funds Flow
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Cost Structure (Q3 2004-Cost Structure (Q3 2004-05)05) Rs.Crore Rs Crore
Q3 ’04-05 %of Sales Q3 ’03-04 %of
sales
Materials cost 72.7 47.3% 54.8 42.7%
Staff Cost 8.1 5.3% 6.6 5.1%
Advtg & Sales Promotion 17.5 11.4% 17.4 13.6%
Other Expenditure 22.9 14.9% 24.0 18.7%
Interest & Financial Charges 0.9 0.6% 0.7 0.5%
Depreciation 2.8 1.8% 2.4 1.9%
Provision for Taxation 3.0 1.9% 4.8 3.7%
PAT 26.0 17.0% 17.9 14.0%
Sales 153.5 100.0% 128.3 100.0%
Processing charges 0.0 0.0% 0.0 0.0%
Other Income 0.3 0.2% 0.2 0.2%
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Cost Structure (9M 2004-Cost Structure (9M 2004-05)05) Rs.Crore Rs Crore
9M ’04-05 %of Sales 9M ’03-04 %of
sales
Materials cost 214.1 50.5% 178.2 48.5%
Staff Cost 23.4 5.5% 18.5 5.0%
Advtg & Sales Promotion 45.2 10.6% 39.5 10.7%
Other Expenditure 65.3 15.4% 70.8 19.3%
Interest & Financial Charges 2.4 0.6% 1.8 0.5%
Depreciation 8.0 1.9% 7.0 1.9%
Provision for Taxation 6.6 1.5% 9.1 2.5%
PAT 60.8 14.3% 45.6 12.4%
Sales 424.3 100.0% 367.6 100.0%
Processing charges 0.0 0.0% 2.0 0.5%
Other Income 1.4 0.3% 0.8 0.2%
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Key RatiosKey Ratios
Q3 04-05 Q3 03-04 9M 04-
05 9M 03-04
PBDIT / Sales 21.3% 20.1% 18.3% 17.3%
PBT / Sales 18.9% 17.7% 15.9% 14.9%
PAT / Sales 17.0% 14.0% 14.3% 12.4%
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
Key Ratios contd..Key Ratios contd..
Q3 04-05 Q3 03-04 9M 04-
05 9M 03-04
NWC / Sales (days) (18) (23) (20) (24)
Fixed Asset T/o Ratio 6.0 5.2 5.5 5.0
Total Asset T/o Ratio 6.5 6.4 6.0 6.1
ROCE* 125.7% 116.8% 97.8% 94.2%
RONW* 143.6% 126.3% 111.8% 107.1%
EPS (on Rs.4 Share) 18.4 12.6 14.3 10.6
All figures are annualised* On closing Capital Employed & Closing Networth
Godrej Consumer Products Limited
Q3 2004-05 Performance Update
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