Godrej Consumer Products Limited

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Godrej Consumer Products Limited
27 October 2004Quarterly update Q2 H1 2004-05
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Contents

• Highlights
• Business Highlights
• Key Financials
• Key Ratios

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Highlights Q2 H1 2004-05
Q2 04-05 Q2 03-04 H1 04-05
H1 03-04 Sales (own Brands) 123.0
7 115.4 252.5 14 222.1 (net
of excise) Contract Mfg 7.8
2.7 11.5 8.5 Total
Sales 134.2 10 121.5
270.8 13 239.4 Material Cost
69.9 61.8 141.4 123.4 A P
13.7 16 11.8 27.7 25
22.1 PBDIT 22.6 18 19.1 45.1
19 37.8 PAT 17.4 26
13.9 34.8 26 27.7 EVA 15.0 36
11.0 31.0 40 22.2 EPS (Rs.) 12.3
27 9.7 12.3 27 9.7
Amts in Rs. Crore
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Announcement

• Interim Dividend
• Update on Shares Buyback

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Dividend (2004-05)

• Second Interim Dividend announced
• Dividend per share Rs.2.00
• Dividend 50
• Total outlay (including tax on Rs.12.8 Cr
  distributed profits)
• Dividend till date for 2004-05 100
• Dividend payout YTD 74

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Update 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
• 245042 shares bought back at an outlay of Rs
  4.8 crore
• Buyback closed on 15th Oct04 as market
  prices have remained consistently above the
  maximum price of Rs.200 per share fixed for
  buyback, since 4th August 2004.

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Business Highlights

• Industry Scenario
• Strong Economic growth continues
• Inflation has continued to remain high at 7.20
  (WPI) for the week ending 2-Oct-04
• Rupee has remained steady against the USD inspite
  of high crude oil prices

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Business Highlights

• Soap
• Growth - GCPL brands in Q2 2004-05
• 12 in value terms
• Cinthol continues to be on strong growth path
• Cinthol has been recognized as one of Indias
  Superbrands

• Personal Care
• Movement to and from Guwahati factory hampered
  by Transport strike in Aug04

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Sales Growth vs Industry GrowthJul-Sep 04 vs
Jul-Sep03
Industry GCPL
(ORG offtake)
Shipment Toilet Soaps 3.1 12
Hair Colours 17.6 (1)

All figures shown are change for All India
Value Source Industry data ORG MARG
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Market share
July-Sep04 July-Sep03
Toilet Soaps 8.1
6.8 Hair Colours 40.2
42.4

All figures shown are for All India Value
MS Source ORG MARG
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Segmental data (Q2 H1 2004-05)
Rs Crore
Rs.Crore Segment Revenue Q2 04-05
Q2 03-04 H1 04-05 H1 03-04 Soap
97.6 83.7 190.9 165.4 Personal
Care 36.6 38.7 79.9 76.0
Unallocated income - -
- - Total
134.2 122.4
270.8 241.4 PBIT Soap
12.7 9.9 19.7 14.2 Personal Care
11.7 10.6 29.2
26.6 Segment PBIT 24.4 20.5
48.9 40.8 Less Interest (Net) 0.8
0.5 1.5 1.2
Less other unallocated exp 4.4 3.8
9.0 7.6 PBT
19.2 16.2 38.4 32.0
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Segmental data (Q2 and H1 2004-05)
Rs.Crore Rs Crore Segment Capital Employed
Q2 04-05 Q2 03-04 H1 04-05 H1 03-04
Soap 40.9 32.7 40.9
32.7 Personal Care
24.0 23.1 24.0
23.1 Unallocated 18.9 16.1
18.9 16.1
Total 83.8 71.9 83.8
71.9 Includes Contract
Manufacturing
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Category-wise Turnover Q2 2004-05
Rs Crore Turnover (net of Excise) Q2 04-05
Q2 03-04 Growth Toilet
Soaps 87.1 77.4 12 Hair Colours 27.2 27.5
(1) Liquid Detergents 3.1 3.2
(3) Toiletries 5.6 7.4
(24) Total Godrej Brands 123.0
115.4 7 Contract Mfg 7.8 2.7
189 By-Products 3.4 3.4
Total Sales 134.2 121.5
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Sales-Mix Q2 - 2004-05

Liquid Detergent (Rs.3.1 cr) (2)
By-Products (Rs.3.4 cr) (3)
Toiletries (Rs. 5.6 cr) (4)
Godrej Brand Toilet Soaps (Rs.87.1 cr) (65)
Hair Colours (Rs.27.2 cr) (20)
Contract Mfg (Rs.7.8 cr) (6)
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Category-wise Turnover H1 2004-05
Rs Crore Turnover (net of Excise) H1 04-05
H1 03-04 Growth Toilet
Soaps 173.9 147.5 18 Hair Colours
62.3 56.8 10 Liquid Detergents 4.0
4.0 0 Toiletries 12.4
13.8 (11) Total Godrej Brands
252.5 222.1
14 Contract Mfg 11.5 8.5 35
By-Products 6.8 8.8
(22) Total Sales 270.8
239.4 13
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Sales-Mix H1 - 2004-05

Liquid Detergent (Rs.4.0 cr) (1)
By-Products (Rs.6.8 cr) (3)
Toiletries (Rs.12.4 cr) (5)
Godrej Brand Toilet Soaps (Rs.173.9 cr) (64)
Hair Colours (Rs.62.3 cr) (23)
Contract Mfg (Rs.11.5 cr) (4)
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Financials
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Summarised Profit Loss Account
Rs Crore Q2 04-05 Q2
03-04 H1 04-05 H1 03-04 Sales
(Net of Excise) 134.2 121.5 10
270.8 239.4 13 - Godrej Brands 123.0
115.4 7 252.5 222.1
14 - Contract Mfg 7.8 2.7
11.5 8.5 - By-products 3.4
3.4 6.8
8.7 Processing charges 0.0 0.9
0.0 2.0 Other Income 1.0
0.4 1.1 0.6 Expenditure
112.6 103.7 226.8
204.2 PBDIT 22.6 19.1 18
45.1 37.8
19 Depreciation 2.6 2.3
5.2 4.6 Interest 0.8
0.6 1.5 1.2 PBT 19.2
16.2 18 38.4 32.0
20 PAT 17.4 13.9 26
34.8 27.7 26
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Balance Sheet
Rs.Crore
Liabilities Assets
30-09-04 30-6-04
30-09-04 30-06-04 Equity Capital
22.6 22.7 Net Fixed Assets
104.3 106.1 Reserves 36.6
33.0 Cash Bank Bal 7.6
6.8 Debt 16.3 14.2
Investments 0.0 0.0 Def Tax Liability
8.2 8.0 Net Current Assets
(28.2) (35.0) Total
83.7 77.9
Total 83.7
77.9
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Funds Flow
Rs Crore
Q2 04-05 H1 04-05 SOURCES Internal
Accruals 20.0 39.8 Total 20.0
39.8 APPLICATION Debt Repayment
(2.1) 7.9 Capital Expenditure 0.9
5.5 W.Capital change
6.8 (4.0) Change in cash
investments 0.8
(6.4) Shares Buyback 0.8 4.8
Dividend 12.8
32.0 Total 20.0 39.8
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Cost Structure (Q2 2004-05)
Rs.Crore
Rs Crore Q2 04-05 of Sales
Q2 03-04 of sales
Materials cost 69.9 52.1 61.8
50.9 Staff Cost 7.6 5.6
6.2 5.1 Advtg Sales Promotion
13.7 10.2 11.8 9.7 Other
Expenditure 21.3 15.9 23.9
19.7 Interest Financial Charges 0.8
0.6 0.6 0.5 Depreciation
2.6 2.0 2.3 1.9 Provision
for Taxation 1.8 1.3 2.3
1.9 PAT 17.4 13.0 13.9
11.4 Sales 134.2 100.0
121.5 100.0 Processing charges
0.0 0.0 0.9 0.8 Other Income
1.0 0.7 0.4 0.3
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Cost Structure (H1 2004-05)
Rs.Crore
Rs Crore H1 04-05 of Sales
H1 03-04 of sales
Materials cost 141.4 52.2 123.4
51.5 Staff Cost 15.3 5.7 11.9
5.0 Advtg Sales Promotion
27.7 10.2 22.1 9.2 Other Expenditure
42.4 15.7 46.8 19.5 Interest
Financial Charges 1.5 0.6 1.2
0.5 Depreciation 5.2 1.9 4.6
1.9 Provision for Taxation 3.6
1.3 4.4 1.8 PAT 34.8 12.8
27.7 11.6 Sales 270.8
100.0 239.4 100.0 Processing
charges 0.0 0.0 2.0
0.7 Other Income 1.1 0.4 0.6
0.3
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Key Ratios
Q2 04-05 Q2 03-04 H1 04-05 H1 03-04
PBDIT / Sales 16.8 15.7 16.6 15.8 PBT
/ Sales 14.3 13.3 14.2 13.4 PAT /
Sales 13.0 11.4 12.8 11.6
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Key Ratios contd..
Q2 04-05 Q2 03-04 H1 04-05 H1
03-04 NWC / Sales (days) (19)
(20) (19) (20) Fixed Asset T/o
Ratio 5.1 5.4 5.2 5.3 Total
Asset T/o Ratio 6.4 6.3 6.5
6.2 ROCE 95.4 93.2 95.2
92.3 RONW 117.6 103.4
117.2 103.3 EPS (on Rs.4 Share) 12.3
9.7 12.3 9.7
All figures are annualised
On closing Capital Employed Closing Networth
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Thank You