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Godrej Consumer: On track - Views on News from Equitymaster
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Godrej Consumer: On track
Oct 23, 2007

Performance summary
  • The topline grows by 15.5% YoY on a consolidated basis. Double-digit growth in all its core categories led to the strong performance.
  • Consolidated operating margins grow by 1.2% YoY led by lower raw material costs.

  • Net profits on a consolidated basis are up 19.5% YoY.

  • On a standalone basis, the topline and bottomline are up 15% YoY and 28.9% YoY for 2QFY08 respectively.

  • The board has declared an interim dividend of Rs 0.75 per share (dividend yield of 0.6%).

Consolidated picture

(Rs m) 2QFY07 2QFY08 (%) Change 1HFY07 1HFY08 (%) Change
Gross sales 2,427 2,804 15.5% 4,923 5,782 17.5%
less: excise duty 108 64 -41.2% 228 179 -21.4%
Net sales 2,318 2,740 18.2% 4,695 5,603 19.4%
Expenditure 1,922 2,239 16.5% 3,877 4,593 18.5%
Operating profit (EBDITA) 397 501 26.4% 818 1,010 23.5%
EBDITA margin (%) 17.1% 18.3%   17.4% 18.0%  
Other income 28 14 -52.3% 36 26 -28.3%
Interest 26 32 23.0% 43 67 53.6%
Depreciation 31 46 50.2% 61 90 47.5%
Profit before tax 369 437 18.6% 750 879 17.3%
Tax 59 67 13.8% 111 125 12.4%
Profit after tax/(loss) 310 371 19.5% 638 754 18.1%
Net profit margin (%) 13.4% 13.5%   13.6% 13.5%  
No. of shares (m) 225.8 225.8   225.8 225.8  
Diluted earnings per share (Rs)*         6.68  
Price to earnings ratio (x)*         18.1  
* 12 month trailing

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