Sales of Chemicals segment has gone up 66.23% to Rs 746.94 crore (accounting for 19.97% of total sales).  Sales of Animal Feed segment has gone up 48.77% to Rs 1,134.14 crore (accounting for 30.32% of total sales).  Sales of segment rose 51.90% to Rs 641.20 crore (accounting for 17.14% of total sales).  Sales of Estate and Property Development segment has gone up 29.30% to Rs 351.07 crore (accounting for 9.39% of total sales).  Sales of Finance and Investment segment has gone up 33.43% to Rs 107.36 crore (accounting for 2.87% of total sales).  Sales of Others segment has gone up 39.59% to Rs 218.56 crore (accounting for 5.84% of total sales).  Sales of Dairy segment has gone up 9.61% to Rs 284.10 crore (accounting for 7.60% of total sales).  Sales of segment has gone down 22.90% to Rs 256.59 crore (accounting for 6.86% of total sales).  Inter-segment sales rose Rs 165.15 crore to Rs 238.11 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 25.21% to Rs 387.90 crore.  PBIT of Chemicals segment rose 57.43% to Rs 61.79 crore (accounting for 15.93% of total PBIT).  PBIT of Animal Feed segment rose 16.50% to Rs 58.95 crore (accounting for 15.20% of total PBIT).  PBIT of segment rose 99.52% to Rs 83.12 crore (accounting for 21.43% of total PBIT).  PBIT of Estate and Property Development segment rose 74.99% to Rs 146.80 crore (accounting for 37.84% of total PBIT).  PBIT of Finance and Investment segment fell 49.71% to Rs 6.90 crore (accounting for 1.78% of total PBIT).  PBIT of Others reported loss of Rs 18.32 crore compared to profit of Rs 2.06 crore.  PBIT of Dairy reported loss of Rs 3.48 crore compared to profit of Rs 4.10 crore.  PBIT of segment fell 30.03% to Rs 52.14 crore (accounting for 13.44% of total PBIT).  

PBIT margin of Chemicals segment fell from 8.74% to 8.27%.  PBIT margin of Animal Feed segment fell from 6.64% to 5.20%.  PBIT margin of segment rose from 9.87% to 12.96%.  PBIT margin of Estate and Property Development segment rose from 30.90% to 41.82%.  PBIT margin of Finance and Investment segment fell from 17.05% to 6.43%.  PBIT margin of Others segment fell from 1.32% to 8.38%.  PBIT margin of Dairy segment fell from 1.58% to 1.22%.  PBIT margin of segment fell from 22.39% to 20.32%.  Overall PBIT margin fell from 11.33% to 10.37%.  

Operating profit margin has declined from 5.60% to 5.14%, leading to 26.08% rise in operating profit to Rs 168.59 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 36.58% to 62.46%.   Purchase of finished goods cost rose from 4.95% to 8.53%.   Employee cost increased from 3.98% to 5.29%.   Other expenses fell from 51.26% to 19.04%.   Selling and administration expenses fell from 42.96% to 6.55%.   Construction development cost fell from 42.96% to 6.55%.   

Other income rose 21.22% to Rs 221.67 crore.  PBIDT rose 23.27% to Rs 390.26 crore.  Provision for interest rose 25.61% to Rs 147.26 crore.  Loan funds rose to Rs 12,844.31 crore as of 30 September 2021 from Rs 8,116.24 crore as of 30 September 2020.  Inventories rose to Rs 6,787.47 crore as of 30 September 2021 from Rs 5,135.41 crore as of 30 September 2020.  Sundry debtors were higher at Rs 1,836.33 crore as of 30 September 2021 compared to Rs 1,499.41 crore as of 30 September 2020.  Cash and bank balance rose to Rs 925.73 crore as of 30 September 2021 from Rs 622.30 crore as of 30 September 2020.  Investments rose to Rs 9,618.98 crore as of 30 September 2021 from Rs 6,483.36 crore as of 30 September 2020 .  

PBDT rose 21.90% to Rs 243 crore.  Provision for depreciation rose 9.74% to Rs 66.72 crore.  Fixed assets increased to Rs 4,387.67 crore as of 30 September 2021 from Rs 3,768.50 crore as of 30 September 2020.  Intangible assets increased from Rs 757.71 crore to Rs 972.79 crore.  

Profit before tax grew 27.23% to Rs 176.28 crore.  Share of profit/loss was 26.61% lower at Rs 85.02 crore.  Provision for tax was expense of Rs 60.39 crore, compared to Rs 50.34 crore.  Effective tax rate was 23.11% compared to 19.79%.

Minority interest increased 2.98% to Rs 57.31 crore.  Net profit attributable to owners of the company decreased 3.24% to Rs 143.60 crore.  

Equity capital increased from Rs 33.65 crore as of 30 September 2020 to Rs 33.66 crore as of 30 September 2021.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 67.18% as of 30 September 2021 ,compared to 64.96% as of 30 September 2020 .  Promoters pledged stake was 5.62% as of 30 September 2021 ,compared to 5.81% as of 30 September 2020 .  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Godrej Industries has increased 41.32% to Rs 6170.67 crore.  Sales of Chemicals segment has gone up 96.90% to Rs 1,368.37 crore (accounting for 19.59% of total sales).  Sales of Animal Feed segment has gone up 41.39% to Rs 2,135.43 crore (accounting for 30.58% of total sales).  Sales of segment rose 62.64% to Rs 1,110.56 crore (accounting for 15.90% of total sales).  Sales of Estate and Property Development segment has gone up 31.64% to Rs 630.02 crore (accounting for 9.02% of total sales).  Sales of Finance and Investment segment has gone up 50.87% to Rs 133.55 crore (accounting for 1.91% of total sales).  Sales of Others segment has gone up 23.43% to Rs 429.18 crore (accounting for 6.15% of total sales).  Sales of Dairy segment has gone up 11.07% to Rs 550.63 crore (accounting for 7.88% of total sales).  Sales of Corp protection segment has gone down 4.26% to Rs 625.81 crore (accounting for 8.96% of total sales).  Inter-segment sales rose Rs 264.43 crore to Rs 380.80 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 36.99% to Rs 744.44 crore.  PBIT of Chemicals segment rose 180.81% to Rs 113.73 crore (accounting for 15.28% of total PBIT).  PBIT of Animal Feed segment rose 25.87% to Rs 124.56 crore (accounting for 16.73% of total PBIT).  PBIT of segment rose 134.24% to Rs 116.16 crore (accounting for 15.60% of total PBIT).  PBIT of Estate and Property Development segment rose 73.73% to Rs 255.61 crore (accounting for 34.34% of total PBIT).  PBIT of Finance and Investment segment rose 53.66% to Rs 29.84 crore (accounting for 4.01% of total PBIT).  PBIT of Others reported loss of Rs 16.49 crore compared to profit of Rs 21.50 crore.  PBIT of Dairy reported loss of Rs 13.96 crore compared to profit of Rs 7.37 crore.  PBIT of Corp protection segment fell 15.07% to Rs 134.99 crore (accounting for 18.13% of total PBIT).  

PBIT margin of Chemicals segment rose from 5.83% to 8.31%.  PBIT margin of Animal Feed segment fell from 6.55% to 5.83%.  PBIT margin of segment rose from 7.26% to 10.46%.  PBIT margin of Estate and Property Development segment rose from 30.74% to 40.57%.  PBIT margin of Finance and Investment segment rose from 21.94% to 22.34%.  PBIT margin of Others segment fell from 6.18% to 3.84%.  PBIT margin of Dairy segment fell from 1.49% to 2.54%.  PBIT margin of Corp protection segment fell from 24.32% to 21.57%.  Overall PBIT margin fell from 10.97% to 10.66%.  

Operating profit margin has declined from 5.43% to 5.04%, leading to 31.03% rise in operating profit to Rs 310.72 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 44.21% to 62.86%.   Purchase of finished goods cost rose from 5.78% to 8.65%.   Employee cost increased from 5.04% to 5.48%.   Other expenses fell from 41.23% to 18.38%.   Selling and administration expenses fell from 31.26% to 5.91%.   Construction development cost fell from 31.26% to 5.91%.   

Other income rose 34.37% to Rs 432.08 crore.  PBIDT rose 32.95% to Rs 742.8 crore.  Provision for interest rose 21.27% to Rs 280.84 crore.  Loan funds rose to Rs 12,844.31 crore as of 30 September 2021 from Rs 8,116.24 crore as of 30 September 2020.  Inventories rose to Rs 6,787.47 crore as of 30 September 2021 from Rs 5,135.41 crore as of 30 September 2020.  Sundry debtors were higher at Rs 1,836.33 crore as of 30 September 2021 compared to Rs 1,499.41 crore as of 30 September 2020.  Cash and bank balance rose to Rs 925.73 crore as of 30 September 2021 from Rs 622.30 crore as of 30 September 2020.  Investments rose to Rs 9,618.98 crore as of 30 September 2021 from Rs 6,483.36 crore as of 30 September 2020 .  

PBDT rose 41.22% to Rs 461.96 crore.  Provision for depreciation rose 10.36% to Rs 130.31 crore.  Fixed assets increased to Rs 4,387.67 crore as of 30 September 2021 from Rs 3,768.50 crore as of 30 September 2020.  Intangible assets increased from Rs 757.71 crore to Rs 972.79 crore.  

Profit before tax grew 58.66% to Rs 331.65 crore.  Share of profit/loss was 12.50% lower at Rs 166.82 crore.  Provision for tax was expense of Rs 111.59 crore, compared to Rs 88.48 crore.  Effective tax rate was 22.39% compared to 22.14%.

Minority interest increased 11.38% to Rs 104.73 crore.  Net profit attributable to owners of the company increased 29.92% to Rs 282.15 crore.  

Equity capital increased from Rs 33.65 crore as of 30 September 2020 to Rs 33.66 crore as of 30 September 2021.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 67.18% as of 30 September 2021 ,compared to 64.96% as of 30 September 2020 .  Promoters pledged stake was 5.62% as of 30 September 2021 ,compared to 5.81% as of 30 September 2020 .  

Cash flow from operating activities increased to negative Rs -351.29 crore for YTD ended September 2021 from negative Rs -396.90 crore for YTD ended September 2020.  Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 220.32 crore, compared to Rs 288.64 crore during the YTD ended September 2020.  

Full year results analysis.

Net sales (including other operating income) of Godrej Industries has declined 17.33% to Rs 9333.51 crore.  Sales of Chemicals segment has gone up 3.89% to Rs 1,666.17 crore (accounting for 15.93% of total sales).  Sales of Animal Feed segment has gone down 16.80% to Rs 3,093.00 crore (accounting for 29.57% of total sales).  Sales of segment rose 22.31% to Rs 1,337.94 crore (accounting for 12.79% of total sales).  Sales of Estate and Property Development segment has gone down 55.11% to Rs 1,394.74 crore (accounting for 13.33% of total sales).  Sales of Finance and Investment segment has gone down 57.01% to Rs 122.26 crore (accounting for 1.17% of total sales).  Sales of Others segment has gone up 14.15% to Rs 673.34 crore (accounting for 6.44% of total sales).  Sales of Dairy segment has gone down 14.22% to Rs 1,032.69 crore (accounting for 9.87% of total sales).  Sales of Corp protection segment has gone up 3.99% to Rs 1,140.13 crore (accounting for 10.90% of total sales).  Inter-segment sales came down from Rs 834.19 crore to Rs 465.66 crore.  

Profit before interest, tax and other unallocable items (PBIT) has slumped 30.19% to Rs 949.78 crore.  PBIT of Chemicals segment fell 14.67% to Rs 119.11 crore (accounting for 12.54% of total PBIT).  PBIT of Animal Feed segment rose 27.91% to Rs 195.92 crore (accounting for 20.63% of total PBIT).  PBIT of segment fell 2.13% to Rs 96.48 crore (accounting for 10.16% of total PBIT).  PBIT of Estate and Property Development segment fell 73.59% to Rs 209.35 crore (accounting for 22.04% of total PBIT).  PBIT of Finance and Investment segment rose 83.51% to Rs 47.51 crore (accounting for 5.00% of total PBIT).  PBIT of Others reported profit of Rs 22.44 crore compared to loss of Rs 80.14 crore.  PBIT of Dairy reported profit of Rs 10.49 crore compared to loss of Rs 0.18 crore.  PBIT of Corp protection segment rose 7.59% to Rs 248.48 crore (accounting for 26.16% of total PBIT).  

PBIT margin of Chemicals segment fell from 8.70% to 7.15%.  PBIT margin of Animal Feed segment rose from 4.12% to 6.33%.  PBIT margin of segment fell from 9.01% to 7.21%.  PBIT margin of Estate and Property Development segment fell from 25.52% to 15.01%.  PBIT margin of Finance and Investment segment rose from 9.10% to 38.86%.  PBIT margin of Others segment rose from negative 13.59% to 3.33%.  PBIT margin of Dairy segment rose from negative 0.01% to 1.02%.  PBIT margin of Corp protection segment rose from 21.06% to 21.79%.  Overall PBIT margin fell from 10.72% to 9.08%.  

Operating profit margin has declined from 7.18% to 3.36%, leading to 61.36% decline in operating profit to Rs 313.48 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 56.02% to 47.80%.   Purchase of finished goods cost rose from 4.69% to 6.30%.   Employee cost increased from 6.03% to 6.75%.   Other expenses rose from 26.06% to 36.53%.   Selling and administration expenses rose from 13.22% to 25.23%.   Construction development cost rose from 13.22% to 25.23%.   

Other income rose 15.68% to Rs 661.26 crore.  PBIDT fell 29.51% to Rs 974.74 crore.  Provision for interest fell 4.48% to Rs 468.93 crore.  Loan funds rose to Rs 10,070.81 crore as of 31 March 2021 from Rs 6,678.47 crore as of 31 March 2020.  Inventories rose to Rs 6,187.42 crore as of 31 March 2021 from Rs 3,186.89 crore as of 31 March 2020.  Sundry debtors were lower at Rs 1,523.05 crore as of 31 March 2021 compared to Rs 1,552.45 crore as of 31 March 2020.  Cash and bank balance declined from Rs 978.46 crore as of 31 March 2020 to Rs 852.15 crore as of 31 March 2021.  Investments rose to Rs 9,951.98 crore as of 31 March 2021 from Rs 6,594.20 crore as of 31 March 2020 .  

PBDT fell 43.29% to Rs 505.81 crore.  Provision for depreciation rose 3.63% to Rs 242.34 crore.  Fixed assets increased to Rs 4,297.91 crore as of 31 March 2021 from Rs 3,721.82 crore as of 31 March 2020.  Intangible assets stood at Rs 683.34 crore.  

Profit before tax down 59.96% to Rs 263.47 crore.  Share of profit/loss was 34.96% higher at Rs 352.46 crore.  Provision for tax was expense of Rs 226.28 crore, compared to Rs 271.44 crore.  Effective tax rate was 36.74% compared to 29.85%.

Minority interest decreased 78.13% to Rs 56.35 crore.  Net profit attributable to owners of the company decreased 12.32% to Rs 333.30 crore.  

Equity capital increased from Rs 33.65 crore as of 31 March 2020 to Rs 33.66 crore as of 31 March 2021.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 67.19% as of 31 March 2021 ,compared to 62.21% as of 31 March 2020 .  Promoters pledged stake was 5.62% as of 31 March 2021 ,compared to 6.07% as of 31 March 2020 .  

Cash flow from operating activities has turned negative Rs 663.58 crore for year ended March 2021 from positive Rs 392.01 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 745.61 crore, compared to Rs 387.92 crore during the year ended March 2020. 

Other Highlights

The Board of Directors have approved enhancement of limit of issuing Commercial Papers by the Company from Rs 1,500 Crore to Rs 2,000 Crore.

In Q2 FY22, Homecare segment grew 7% and personal care 12%.

In Q2FY22, Fatty acid contributed 46% of total chemical segment sales, Fatty alcohol 30%, Glycerin 8% and Surfactant 16%.