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