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Godrej Consumer Products Limited

Godrej Consumer Products Limited. 31 January 2004 Quarterly update Q3 & 9M 2003-04. Contents. Highlights Business Highlights Key Financials Key Ratios. Highlights Q3 & 9M 2003-04. Q3 ’03-04 Q3 ’02-03 9M ’03-04 9M 02-03

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Godrej Consumer Products Limited

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  1. Godrej Consumer Products Limited 31 January 2004Quarterly updateQ3 & 9M 2003-04

  2. Contents • Highlights • Business Highlights • Key Financials • Key Ratios

  3. Highlights Q3 & 9M 2003-04 Q3 ’03-04Q3 ’02-039M ’03-049M 02-03 Sales (own Brands) 125.4 3% 121.2 347.5 5% 329.8 (net of excise) Contract Mfg 0.1 (97%) 4.6 8.6 (51%) 17.5 Total Sales 128.3 (1%) 128.9 367.6 1% 362.4 Material Cost 54.8 63.0 178.2 171.0 A & P 17.4 16.0 39.5 44.7 PBDIT 25.8 14% 22.7 63.5 (3%) 65.7 PAT 17.9 21% 14.8 45.6 10% 41.6 EVA 14.8 26%11.7 37.0 16% 31.9 EPS (Rs.) 12.6 24% 10.2 10.6 12% 9.5 Amts in Rs. Crore

  4. Dividend (2003-04) • Third Interim Dividend announced • Dividend per share Rs.2.00 • Dividend % 50% • Total outlay (including tax onRs.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)

  5. Shares Buy-back • Fourth buyback from open market at a price not exceeding Rs.200per 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)

  6. Business 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

  7. Business Highlights 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

  8. Business Highlights contd.. 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 Personal Care • Godrej Renew cream hair colour launched

  9. Sales Growth vs Industry GrowthOct-Dec ‘03 vs Oct-Dec ‘02 Industry GCPL GCPL (ORG offtake) (ORG offtake) Shipment Toilet Soaps (5%) 10% 2% Hair Colours 7% 4% 3% All figures shown are % change for All India Value Source : Industry data : ORG MARG

  10. Market Shares Oct-Dec’03 Oct-Dec’02 Toilet Soaps 6.7% 5.8% Hair Colours 42.7% 44.0% All figures shown are % for All India Value MS Source : ORG Data

  11. Segmental data (Q3 & 9M 2003-04) Rs Crore Segment RevenueQ3 03-04 Q3 0203 9M 03-049M 0203 Soap 64.7 68.4 230.1 228.6 Personal Care 63.6 60.8 139.5 139.5 Unallocated income - - - - Total 128.3 129.2 369.6 368.1 PBIT Soap 5.4 2.7 19.6 18.7 Personal Care 22.6 21.6 49.3 51.0 Segment PBIT 28.1 24.3 68.9 69.7 Less Interest (Net) 0.7 1.0 1.8 2.5 Less other unallocated expenses 4.7 3.9 12.3 10.8 PBT 22.7 19.4 54.7 56.5

  12. Segmental data (Q3 & 9M 2003-04) Rs Crore Segment Capital EmployedQ3 & 9M 03-04Q3 & 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

  13. Category-wise Turnover Q3 Rs Crore Turnover (net of Excise)Q3 03-04Q3 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%)

  14. Sales-Mix Q3 - 2003-04 By-Products (Rs.2.8 cr) (2%) Liquid Detergent (Rs.27.2 cr) (21%) Godrej Brand Toilet Soaps (Rs.62.4 cr) (50%) Toiletries (Rs. 5.7 cr) (4%) Hair Colours (Rs.30.1 cr) (23%) Contract Mfg (Rs.0.1 cr) (0%)

  15. Category-wise Turnover 9M Rs Crore Turnover (net of Excise)9M 03-049M 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%

  16. Sales-Mix 9M - 2003-04 By-Products (Rs.11.5 cr) (3%) Liquid Detergent (Rs.31.2 cr) (8%) Toiletries (Rs.19.5 cr) (5%) Godrej Brand Toilet Soaps (Rs.209.9 cr) (58%) Hair Colours (Rs.86.9 cr) (24%) Contract Mfg (Rs.8.6 cr) (2%)

  17. Financials

  18. Summarised Profit & Loss Account Rs Crore Q3 03-04 Q3 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%

  19. Balance Sheet Rs.Crore LiabilitiesAssets 31-12-0330-9-0331-12-0330-09-03 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

  20. Funds Flow 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

  21. Cost Structure (Q3 2003-04) Rs.CroreRs 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%

  22. Cost Structure (9M 2003-04) Rs.CroreRs 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%

  23. Key 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%

  24. 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

  25. Thank You

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