Godrej Industries Ltd has posted a net profit of Rs. 847.30 mn for the quarter ended December 31, 2011 where as the same was at Rs. 608.60 mn for the quarter ended December 31, 2010.
Total Income is Rs. 14875.30 mn for the quarter ended December 31, 2011 where as the same was at Rs. 10528.60 mn for the quarter ended December 31, 2010.
In view of Change in the Company's Shareholdings in some of the subsidiaries, joint ventures and associates, as also restructuring including acquisitions, divestitures / joint ventures in some of these companies, the consolidated results for the period are not strictly comparable with those of the previous period.
Commenting on the performance for Q3 & 9M FY 2011-12, A. B. Godrej, Chairman, Godrej Industries Limited, said:“Q3 FY2012 has been a period of strong performance delivered across all our businesses resulting in a healthy overall growth. Our Oleochemicals business continues to deliver steady and improved results. The agri businesses have been growing at an impressive rate with oil palm and animal feed segments contributing significantly to our results. ‘Godrej Seeds & Genetics Limited’, our seeds venture, is also shaping up well as we scale up operations. Godrej Properties has had an eventful quarter and the Company finalized three Joint development deals including projects in Nagpur, Pune and Mumbai. Q3 FY2012 also marked the conclusion of the landmark agreement with Godrej & Boyce for all future development on the Vikhroli land parcel. The structure of the deal will prove to be highly value accretive as it ensures significant risk free cash flow for Godrej Properties. Strong deals traction and a unique business model, which provides real resilience in a down-cycle, paves the way for strong and sustained progress at GPL.Godrej Consumer Products continues to demonstrate firm growth across core categories in the domestic and international markets. I believe that GCPL’s strong performance is a reflection of the robustness of their business model, a great team and their ability to efficiently manage risks and challenges. I continue to be very confident of the opportunities for GCPL both in India and overseas.Going forward, through our CREATE strategy, we will continue to strengthen our positions in our core businesses while fostering an inspiring place to work and creating shared value for all our stakeholders".
CORPORATE HIGHLIGHTS
Chemicals Business (Godrej Industries Limited)
Revenues up by 23% & 32% in Q3 & 9M FY 2011-12 over Q3 & 9M FY 2010-11 respectively.
PBIT up by 19% & 52% in Q3 & 9M FY 2011-12 over Q3 & 9M FY 2010-11 respectively.
Specialty Chemicals revenue grew by 38% & 37% in Q3 & 9M FY 2011-12 over Q3 & 9M FY2010-11 respectively, accounts for 35% of Chemicals business revenue in 9M FY 2011-12 respectively.
Export revenues up by 40% & 53% in Q3 & 9M FY 2011-12 over Q3 & 9M FY 2010-11, respectively, accounts for 44% of Division’s turnover in 9M FY 2011-12.
The Board at its meeting today approved the revised capex of ` 296 crore plus interest during construction and other charges which need to be capitalized. The increased capex is mainly on account of increased scope of the plants, additional activities / expenses on account of creating facilities in a low-lying land area and inflation in material costs related to construction.
Business Highlights – Godrej Consumer Products Limited (GCPL)
Revenues, EBITDA and PAT at Rs 1344 crore, Rs272 crore and Rs167 crore up by 36%, 59% and 41% respectively in Q3 FY 2011-12 over Q3 FY 2010-11.
GCPL enters into an agreement to buy majority stake in Cosmetica Nacional, further expanding its leading presence in hair colours in attractive markets in Latin America.
Cosmetica Nacional enjoys market leadership in Chile and Panama in the hair colourants category.
Exporting to 7 countries in the region, it will serve as an effective platform for further penetration of GCPL’s portfolio into the LatAm Region.
Move is in line with GCPL’s global 3x3 strategy targeting strong regional assets in the emerging world.