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Godrej Consumer Products Limited

Godrej Consumer Products Limited. 22 July 2004 Quarterly update Q1 2004-05. Contents. Highlights Business Highlights Key Financials Key Ratios. Highlights Q1 2004-05. Q1 ’04-05 Q1 ’03-04 Sales (own Brands) 129.5 21% 106.7 (net of excise)

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Godrej Consumer Products Limited

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  1. Godrej Consumer Products Limited 22 July 2004Quarterly updateQ1 2004-05

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

  3. Highlights Q1 2004-05 Q1 ’04-05Q1 ’03-04 Sales (own Brands) 129.5 21% 106.7 (net of excise) Contract Mfg 3.7 5.8 Total Sales 136.6 16% 117.9 Material Cost 71.5 61.6 A & P 14.0 36% 10.3 PBDIT 22.4 20% 18.7 PAT 17.3 25% 13.8 EVA 16.0 44%11.1 EPS (Rs.)-annualised 12.2 27% 9.6 Amts in Rs. Crore Education Cess of 2% has been considered in Income Tax provision

  4. Dividend (2004-05) • First Interim Dividend announced • Dividend per share Rs.2.00 • Dividend % 50% • Total outlay (including tax onRs.12.8 Cr distributed profits) • Dividend payout as a % of PAT74.0% (Dividend payout has been taken incl distribution tax) Education Cess of 2% has been considered in Income Tax provision

  5. Status of Shares Buy-back • Fifth buyback from open market at a price not exceeding Rs.200 per share at a total outlay of Rs.8.4 crore was approved by the Board in the meeting held on 31-Jan-04 • - 200853 shares since bought back at an outlay of Rs 4.0 crore

  6. Business Highlights–Q1 2004-05 Industry Scenario • Budget impact on the FMCG sector is neutral to positive • Industry • rural demand likely to pick up due to trickle down effect of budget & • increase in the disposable income of people having taxable income below Rs.one lac

  7. Business Highlights Soap • GCPL brand soap sales grew 24% in Q1 2004-05 over Q1 2003-04 • Nimin soap launched • Godrej No.1 Jasmine variant launched • Cinthol Deo soap well received by the market • First soap line at Baddi plant fully operational • Second line has been commissioned in Baddi in June ’04 Personal Care • Hair colour sales grew 19% in Q1 2004-05 over Q1 2003-04

  8. Sales Growth vs Industry GrowthApr-June ‘04 vs Apr-June ‘03 Industry * GCPL Shipment Toilet Soaps 2% 24% Hair Colours 13% 19% * Source: ORG Data

  9. Segmental data (Q1 2004-05) Rs Crore Segment RevenueQ1 04-05 Q1 03-04 Soap 93.3 81.8 Personal Care 43.3 37.2 Unallocated income 0.0 0.0 Total 136.6 119.0 PBIT Soap 7.6 4.2 Personal Care 17.8 16.0 Segment PBIT 25.4 20.2 Less Interest (Net) 0.7 0.6 Less other unallocated expenses 5.5 3.8 PBT 19.2 15.8

  10. Segmental data (Q1 2004-05) Rs Crore Segment Capital EmployedQ1 04-05Q1 03-04 Soap * 41.6 30.7 Personal Care 22.1 22.0 Unallocated 14.2 21.9 Total 77.9 74.6 * Includes Contract Manufacturing

  11. Category-wise Turnover Q1 2004-05 Rs Crore Turnover (net of Excise)Q1 04-05Q1 03-04 Growth % Toilet Soaps 86.9 70.1 24% Hair Colours 35.0 29.3 19% Liquid Detergents 0.9 0.8 10% Toiletries 6.8 6.5 4% Total Godrej Brands 129.5 106.7 21% Contract Mfg 3.7 5.8 (36%) By-Products 3.4 5.4 (38%) Total Sales 136.6 117.9 16%

  12. Sales-Mix Q1 - 2004-05 By-Products (Rs.3.4 cr) (2%) Liquid Detergent (Rs.0.9cr) (1%) Godrej Brand Toilet Soaps (Rs.86.9 cr) (63%) Toiletries (Rs. 6.8 cr) (5%) Hair Colours (Rs.35.0 cr) (26%) Contract Mfg (Rs.3.7 cr) (3%)

  13. Financials

  14. Summarised Profit & Loss Account Rs Crore Q1 04-05 Q1 03-04 Sales (Net of Excise) 136.6 117.9 16% - Godrej Brands 129.5 106.7 21% - Contract Mfg 3.7 5.8 - By-products 3.4 5.4 Processing charges 0.0 1.1 Other Income 0.1 0.2 Expenditure 114.2 100.5 PBDIT 22.4 18.7 20% Depreciation 2.5 2.3 Interest 0.7 0.6 PBT 19.2 15.8 21% PAT 17.3 13.8 25% Education Cess of 2% has been considered in Income Tax provision

  15. Balance Sheet Rs.Crore LiabilitiesAssets 30-06-0431-03-0430-06-0431-03-04 Equity Capital 22.7 22.7 Net Fixed Assets 106.1 104.0 Reserves 33.0 19.6 Cash & Bank Bal 6.8 14.0 Debt 14.2 24.2 Investments 0.0 0.0 Def Tax Liability 8.0 7.6 Net Current Assets (35.0) (24.7) Dividend payable 0.0 (19.2) Total 77.9 74.1 Total 77.9 74.1 Education Cess of 2% has been considered in Income Tax provision

  16. Funds Flow Rs Crore Q1 04-05 SOURCES Internal Accruals 19.8 Total 19.8 APPLICATION Debt reduction 10.0 Capital Expenditure 4.6 W.Capital change (10.8) Change in cash & investments (7.2) Shares Buyback 4.0 Dividend 19.2 Total 19.8 Education Cess of 2% has been considered in Income Tax provision

  17. Cost Structure (Q1 2004-05) Rs.CroreRs Crore Q1 ’04-05 %of Sales Q1 ’03-04 %of sales Materials cost 71.5 52.4% 61.6 52.2% Staff Cost 7.7 5.6% 5.7 4.8% Advtg & Sales Promotion 14.0 10.2% 10.3 8.7% Other Expenditure 21.0 15.4% 22.9 19.4% Interest & Financial Charges 0.7 0.5% 0.6 0.5% Depreciation 2.5 1.8% 2.3 2.0% Provision for Taxation 1.9 1.4% 2.0 1.7% PAT 17.3 12.7% 13.8 11.7% Sales 136.6 100.0% 117.9 100.0% Processing charges 0.0 0.0% 1.1 0.9% Other Income 0.1 0.1% 0.2 0.1% Education Cess of 2% has been considered in Income Tax provision

  18. Key Ratios Q1 04-05 Q1 03-04 PBDIT / Sales 16.4% 15.9% PBT / Sales 14.1% 13.4% PAT / Sales 12.7% 11.7% Education Cess of 2% has been considered in Income Tax provision

  19. Key Ratios contd.. Q1 04-05 Q1 03-04 NWC / Sales (days) (23) (22) Fixed Asset T/o Ratio 5.2 5.1 Total Asset T/o Ratio 7.0 6.1 ROCE* 102.2% 90.9% RONW* 124.4% 98.2% EPS (on Rs 4 Share) 12.2 9.6 * On closing Capital Employed & Closing Networth All figures are annualised Education Cess of 2% has been considered in Income Tax provision

  20. Thank You

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