Godrej Industries Ltd has posted a net profit of Rs487.40mn for the quarter ended June 30, 2010 where as the same was at Rs163.60mn for the quarter ended June 30, 2009. Total Income is Rs10030.20mn for the quarter ended June 30, 2010 where as the same was at Rs7800.30mn for the quarter ended June 30, 2009.
In view of change in the Company's shareholdings in some of the subsidiaries, joint ventures and associates, as also business restructuring including acquisitions, divestments/joint ventures in some of these Companies, the consolidated results for the year are not strictly comparable with those of the previous year.
GIL Board of Directors approves setting up of a new Oleochemicals manufacturing facility at Ambernath. This facility involving an outlay of about Rs2.3bn is expected to be operational by FY 2013. Godrej Consumer Products Limited (GCPL) completes the acquisition of the remaining 51% stake in Godrej Sara Lee Limited (GSLL), owned by its JV partner Sara Lee Corp.
This acquisition further consolidates GCPL’s position in the Indian FMCG space GCPL is now India’s largest Home and Personal Care business and the second largest Household Insecticides business in Asia (ex Japan). GCPL acquires Issue Group, a leading personal care player in South America and Argencos SA, a leading hair care player in Argentina.
GIL Board of Directors approves formation of Limited Liability Partnership(s) for joint development of property at Vikhroli. LLP(s) will develop about 36.5 acres of the Vikhroli property and the Net Profit will be shared 40:60 between GIL and GPL; loss (if any) shall be borne by GPL only.
Godrej Properties Limited (GPL) enters the National Capital Region with a residential project in Gurgaon. GPL extends its presence to 11 cities across India in line with its strategy of being a national property developer. Godrej Agrovet (GAVL) delivers strong results in Q1 FY2011 with revenue and EBITDA growth of 12% & 131% respectively in Q1 FY 2010-11 over Q1 FY 2009-10.
Commenting on the performance for Q1 FY2011, A.B. Godrej, Chairman, Godrej Industries Limited, said: “I am happy to report that all our operating businesses and investments have made a great start to the financial year. Our Oleochemicals business delivered positive growth on the back of continued efforts to improve efficiency and reduce costs. The business plans to set up a new state-of-the-art manufacturing facility for Oleochemicals at Ambernath (Maharashtra). Our Agri businesses under Godrej Agrovet are doing extremely well and continue to deliver strong growth. Good monsoons will provide adequate impetus to this segment and we remain optimistic on its prospects going forward. Godrej Properties has been on a high performance spree with strong growth both in topline and bottomline.
Building strategically on its expanding international footprint, Godrej Consumer Products has completed a series of accretive acquisitions marking the start of the coming together of the Godrej FMCG businesses and an exciting and challenging opportunity for us. We continue our strong commitment to our people and building a brighter future and have been recognized as being among India‟s Top 50 best places to work for by the Economic Times and Great Place to Work Institute.