Highlights

The consolidate net sales for March 2015 quarter by 16% to Rs 2308.79 crore driven by estate & property development business and vegetable oil business. OPM has decreased by 29 bps to 5.1%. The profit before tax and exceptional items stood at Rs 66.15 crore, inclined by just 4%. The net profit has increased by 22% to Rs 138.96 crore due to decline in tax rate and EO income.

The mgmt expects GST rate will be around 20-22%.

Godrej Consumer Products

• The consolidated net sales for Q4 have increased by 8% at Rs 2092.02 crore. The organic net sales at constant currency have grown by 12%.India business grew by 10% to Rs 1134 crore. India branded net sales increased by 12% led by double digit growth across categories. Overall company's OPM increased by 80 bps to 18.5%. The net profit has increased by 12% to Rs 265.57 crore due to increase in OPM

• GCPL continues to gain market share across its core categories across geographies

• Household Insecticides continued its strong momentum with a growth of 11% and continued to gain market share across formats and exited Q4 with highest ever market share.

• Soaps business had a healthy volume and mix led value growth of 15%, well ahead of the category, which grew in single digits.

• Hair colours volume led sales growth of 12%, outperformed the category and gained further market share.

Chemical Division

• The revenues declined by 19% to Rs 293.84 crore for Q4. PBIT margin inclined by 90 bps to 4.7%. PBIT inclined by just 1% to Rs 13.78 crore.

• Volume growth was flat in chemical business. With Ambernath facility, the coming quarters will see growth in volume.

• The company's 60% of chemical is sold for home care and personal care product companies.

Sales of this business increased by 52% to Rs 727.06 crore in Q4. PBIT margin has inclined by 40 bps to 14.8%. The PBIT increased by 56% to Rs 107.94 crore..

• Added 2 new projects with 3.85 million sq. ft. of saleable area at Kolkata and Bangalore
• Highest ever annual residential sales by GPL with booking area of 3.6 million sq.ft. and booking value of Rs 2398 crore.
• Total booking value of Rs 428 crore and total booking volume of 0.69 million sq. ft. in Q4.
• Residential projects recorded booking value of Rs 385 crore and booking volume of 0.65 million sq. ft.
• Commercial projects witnessed booking value of Rs 42 crore and booking volume of 0.04 million sq.ft.

Godrej Agrovet Limited (GAVL)

• Sales declined by 6% to Rs 751 crore for Q4. PBIT declined by 16% to Rs 32 crore.

• Commodity price correction impacted the top line and profitability of the business in Q4. CPO prices corrected by almost 25% in the last financial year and Livestock prices were also non –remunerative for farmers. Poor Broiler and Fish prices impacted the feed business performance in Q4 .

• Unseasonal rains in Q4 further dampened the spirits in the Agri Markets

• The company is looking at organic and inorganic expansion.

• At present, the company has not plan to go for IPO of Godrej Agrovet.

Animal Feed

• Revenue has decreased by 5% to Rs 630 crore for Q4. Volume growth in feed business remained flat. Cattle feed and Layer feed have registered 15% and 10% volume growth in sales. Adverse prices of broiler and fish impacted broiler and fish feed sales. Weak commodity prices during the quarter impacted the realizations adversely

• The company commissioned four state of the art capacities across different locations in the country and dedicated R&D center for the business is fully functional.

• Sales increased by 18% to Rs 92 crore for Q4 primarily driven by volume growth in Cattle Feed (68%), Aqua (25%) and Poultry Feed (17%)

• Operational efficiency measures have started showing improvement in business performance

• Commissioning of state of the art Aqua and Poultry feed plant in FY16 should help penetrate the market deeper and improve profitability

Oil Palm Plantation

• Sales decreased by 33% to Rs 30 crore for Q4. Price correction in CPO & Pricing formula tweak impacted the performance.

• Oil Palm business sales declined in Q4 primarily on account of sharp decline in CPO price and formula tweak by the Govt. of A.P.

• The company is working on developing additional revenue streams by enhancing the value of Biomass generated in the business

• The mgmt said that Malaysian Palm oil price which are down will go up in come days.

Agri Inputs Business

• Sales decreased by 12% to Rs 22 crore for Q4. Lower rabi acreage and unseasonal rainfall impacted the business performance.

• Kharif season is the peak sales season for GAVL Agri Input business; Agri Inputs business was impacted by shrinkage in rabi acreage across key crops

• Unseasonal rainfall in key markets further dampened the spirits in the market.

• Diverse product mix and an agile supply chain helped us negate the adverse market conditions to a large extent.

Godrej Tyson

• Sales de-grew by 3% to Rs 97 crore for Q4.

• Business significantly de-risked from subdued and volatile broiler prices.

• Slowdown in the food services business has impacted our volume growth at an overall level.

• Focused on strengthening Real Good Chicken and Yummiez brands. The company launched several innovative products in FY15 which will strengthen the performance in FY16.

• Yummiez sales grew by 19%.

NATURE'S BASKET

• The revenue grew by 17% for Q4.

• Total store count was at 33 at the end of quarter.

• Gifting sales in FY15 grew by 65%

• Private label portfolio sales in FY15 grew 6 times. Private label portfolio strengthened with new additions of 150+ SKUs in the current year taking total to 306 SKUs across categories

• Online business continues to surge in FY15 at 234%

• Easing of FSSAI norms for imported packaged food helped improve product availability towards beginning of Q4.

• Sales for FY14 was up by 22% to Rs 44 crore. Healthy growth despite deficient monsoon and shrinkage in Kharif and Rabi acreage for Corn

• The company's main product category – Maize got significantly impacted due to lower acreage in key markets of Maharashtra, AP and Bihar