GODREJ CONSUMER PRODUCTS LIMITED
Regd. Office: Pirojshanagar, Eastern Express Highway, Vikhroli, Mumbai 400 079
UNAUDITED FINANCIAL RESULTS (PROVISIONAL)
FOR THE QUARTER/NINE MONTHS ENDED 31st December 2001
(Amounts in Rs. lac)
|
PARTICULARS |
Quarter ended |
Nine Months ended |
|
|
31-Dec-01 |
31-Dec-01 |
||
|
(Unaudited) |
(Unaudited) |
||
|
1 |
Sales |
12643 |
37936 |
|
2 |
Other Operating Income (Note 4) |
622 |
1574 |
|
3 |
Other Income |
12 |
68 |
|
4 |
Expenditure |
||
|
a) (Increase)/decrease in stock in trade |
352 |
773 |
|
b) Consumption of raw material and purchase of goods |
5428 |
16146 |
|
|
c) Staff cost |
636 |
1564 |
|
|
d) Excise duties |
1153 |
4169 |
|
|
e) Advertisement and Sales Promotion |
1469 |
5101 |
|
|
f) Other expenditure |
2052 |
5966 |
|
|
Total expenditure (a+b+c+d+e+f) |
11090 |
33719 |
|
|
5 |
Profit before Depreciation, Interest & Tax |
2187 |
5859 |
|
6 |
Interest and Financial charges (net) |
108 |
362 |
|
7 |
Depreciation |
233 |
696 |
|
8 |
Profit before tax |
1846 |
4801 |
|
9 |
Provision for taxation |
616 |
1588 |
|
10 |
Net Profit after tax |
1230 |
3213 |
|
11 |
Paid-up Equity Share Capital (Face value per share: Rs. 4/-) |
2393 |
2393 |
|
12 |
Reserves excluding revaluation reserves (Note 6) |
||
|
13 |
Basic & Diluted EPS (Rs) (Not Annualised) |
2.06 |
5.37 |
|
14 |
Aggregate of Non Promoter Shareholding |
||
|
Number of shares |
17322990 |
17322990 |
|
|
Percentage of Shareholding |
28.96% |
28.96% |
Notes:
1. These results were taken on record at the meeting of the Board of Directors of the Company held on 27th January, 2002.
2. Godrej Consumer Products Limited (GCPL) was incorporated on 29th November, 2000 with the objective of taking over the Consumer Products business of Godrej Soaps Limited (subsequently renamed as Godrej Industries Limited) as a going concern. Effective 1st April, 2001 the Consumer Products business of Godrej Soaps Limited has been demerged into Godrej Consumer Products Limited. GCPL did not engage in any activity during the year ended 31st March, 2001 and therefore there are no previous year’s figures.
3. The sales of GCPL as compared
with the sales of the Consumer Products division of the former Godrej Soaps
Limited are given below. The tonnage and the sales of Contract Manufacturing
have both increased for the nine month period. Contract manufacturing of Toilet
soaps increased from 1093 MT to 1824 MT for the quarter. However, due to a change
in the contract from sale to processing contract the sales dropped from Rs.712
lac to Rs.47 lac (excludes processing income)..
(Amount in Rs.lacs)
|
PARTICULARS |
Quarter ended |
Quarter ended |
% Incr / (decr) |
Nine Months ended |
Nine Months ended |
% Incr / (decr) |
|
|
31-Dec -01 |
31-Dec-00 |
31-Dec-01 |
31-Dec-00 |
||||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
||||
|
1 |
Godrej Brands |
||||||
|
a) |
Soaps |
7031 |
7071 |
(1) |
20290 |
18642 |
9 |
|
b) |
Hair Colour |
2493 |
2150 |
16 |
7755 |
6478 |
20 |
|
c) |
Toiletries |
795 |
1089 |
(27) |
2717 |
2858 |
(5) |
|
d) |
Liquid Detergents |
2277 |
2009 |
13 |
2540 |
2282 |
11 |
|
Total Godrej Brands |
12596 |
12319 |
2 |
33302 |
30260 |
10 |
|
|
2 |
Contract Manufacturing |
47 |
712 |
(93) |
4634 |
4077 |
14 |
|
Total |
12643 |
13031 |
(3) |
37936 |
34337 |
10 |
4. Other Operating Income for the nine months ended 31st December, 2001 includes Rs. 1066 lac (Rs.470 lac for the quarter ended 31st December, 2001) on account of sale of byproducts and Rs. 508 lac (Rs.152 lac for the quarter ended 31st December, 2001) on account of processing charges for Contract Manufacturing.
5. In view of the Accounting Standard (AS) 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, which has come into effect from 1st April, 2001, the provision for tax for the nine months ended 31st December, 2001 includes an amount of Rs. 460 lac (Rs.181 lac for the quarter ended ended 31st December, 2001) as deferred tax expense. As on 1st April, 2001, General Reserve has been credited by an amount of Rs.376 lac representing deferred tax assets.
6. As on 31st March, 2001 the paid up Equity Share Capital was Rs. 700 and the Reserves were Rs. Nil. After the demerger of Consumer Products division of Godrej Soaps Limited on 1st April, 2001, the paid up Equity Share Capital of GCPL was Rs. 2393 lac and the Reserves including the credit for Deferred Tax assets as aforesaid were Rs. 2550 lac.
7. Godrej Consumer Products Limited is a focussed FMCG Company operating in Personal and Household products. The product range of the Company is Toilet Soaps (Godrej brands and Other brands), Hair Colour, Liquid Detergents and Toiletries. The Company is managed organisationally as a unified entity with various functional heads reporting to the top management and is not organised along product lines. There are therefore, no separate segments within the company as defined by AS 17 (Segmental Reporting) issued by the ICAI. Accordingly the information given for the company pertains to the Personal and Household Segment. The Capital Employed as on 31st December, 2001 was Rs. 9486 lac
8. The Company has announced a scheme of buyback of equity shares from the open market through the stock exchanges at a price not exceeding Rs. 100 per share, for an aggregate amount not exceeding Rs. 930 lac pursuant to the provisions of Section 77A of The Companies Act, 1956 and other applicable provisions of SEBI (Buyback) Regulations. The Company had come out with a public announcement in this regard on 11th January, 2002.
9. The Company has commenced commercial production of hair colour and toiletries at its factory at Guwahati during the quarter ended 31st December, 2001.
For Godrej Consumer Products Limited
A.B. Godrej
Chairman & Managing Director
Place : Mumbai
Date : 28th January 2002