Godrej Consumer Q3 net up 5.08% yoy at Rs527.60cr on exceptional gains from BBLUNT and deferred taxes

8 Feb 2022 , 10:05 PM

Godrej Consumer Products reported 8.09% yoy growth in total sales revenues for the Dec-21 quarter on consolidated basis at Rs3,303cr. On a sequential basis, the revenues were up by 4.39%.

During the December 2021 quarter, there was steady growth of 3% in the home care and 12% in the personal care segments. Godrej also witnessed steady growth of 8% in the India business.

It saw 12% growth in the Africa and Middle East business as well as 19% growth in the Latin American and SAARC business. Only the Indonesia business was lower by 2% on a yoy basis.

For the Dec-21 quarter, the operating profits were down on a yoy basis by -3.51% at Rs636.22cr. During the quarter, the consolidated EBITDA was lower by 2% yoy while the EBITDA margins tapered by 210 basis points to 21.4%. International business EBITDA margins stook lower at 16.2%.

India EBITDA margins stood at 25.2% as input cost increases made a dent on the gross profit margins. Operating margins tapered on the back of higher input and inventory costs from 21.58% in Dec-20 quarter to 19.26% in the Dec-21 quarter. Operating margins were lower on a sequential basis by 70 bps

Net Profit after tax (PAT) for the Dec-21 quarter was up 5.08% yoy at Rs527.60r on the back of exceptional gains, despite the pressures of weak operating profits in the quarter. The exceptional gains came from the write-back of losses on the BBLUNT deal as well as gains from deferred taxes in the quarter.

PAT margins tapered from 16.43% in the Dec-20 quarter to 15.98% in the Dec-21 quarter. The PAT margins were higher on a sequential basis by 84 basis points. For the Dec-21 quarter, GCPL enjoys ROE of 18.1% and ROCE of 20.5%.

Financial highlights for Dec-21 compared yoy and sequentially

	Godrej Consumer
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 3,302.58	₹ 3,055.42	8.09%	₹ 3,163.65	4.39%
Operating Profit (Rs cr)	₹ 636.22	₹ 659.39	-3.51%	₹ 631.35	0.77%
Net Profit (Rs cr)	₹ 527.60	₹ 502.08	5.08%	₹ 478.89	10.17%
Diluted EPS (Rs)	₹ 5.16	₹ 4.91		₹ 4.68
Operating Margins	19.26%	21.58%		19.96%
Net Margins	15.98%	16.43%		15.14%