|
Consolidated net
sales (including other operating income) of Godrej Industries has declined
2.07% to Rs 3937.61 crore. Sales of Chemicals segment has gone down 44% to Rs
682.67 crore (accounting for 15% of total sales). Sales of Animal Feed segment has gone up 2%
to Rs 1242.02 crore (accounting for 27% of total sales). Sales of Veg Oils segment rose 12% to Rs
597.97 crore (accounting for 13% of total sales). Sales of Estate & Property Development
segment has gone up 61% to Rs 626.74 crore (accounting for 14% of total
sales). Sales of Finance and Investments
segment has gone up 59% to Rs 342.14 crore (accounting for 8% of total
sales). Sales of Dairy segment has gone
up 8% to Rs 390.08 crore (accounting for 9% of total sales). Sales of Crop Protection segment has gone up
2% to Rs 378.99 crore (accounting for 8% of total sales). Sales of Others segment has gone up 5% to Rs
257.68 crore (accounting for 6% of total sales). Inter-segment sales rose to Rs 261.42 crore
from Rs 278.09 crore.
Profit before
interest, tax and other unallocable items (PBIT) has increased 5% to Rs 458.08
crore. PBIT of Chemicals segment fell
58% to Rs 67.7 crore (accounting for 15% of total PBIT). PBIT of Animal Feed segment rose 13% to Rs
58.47 crore (accounting for 13% of total PBIT).
PBIT of Veg Oils segment fell 23% to Rs 53.24 crore (accounting for 12%
of total PBIT). PBIT of Estate &
Property Development segment rose 50% to Rs 176.4 crore (accounting for 39% of
total PBIT). PBIT of Finance and
Investments segment was Rs 25.46 crore compared to Rs 1.17 crore. PBIT of Dairy segment was Rs 2.93 crore
compared to loss of Rs 11.79. PBIT of
Crop Protection segment rose 10% to Rs 64.91 crore (accounting for 14% of total
PBIT). PBIT of Others segment rose to Rs
8.97 crore compared to loss of Rs 11.16 crore.
Operating profit
margin has jumped from 5.48% to 6.74%, leading to 20.45% rise in operating
profit to Rs 265.51 crore. Raw material
cost as a % of total sales (net of stock adjustments) decreased from 59.05% to
52.57%. Purchase of finished goods cost
rose from 3.46% to 4.12%. Employee cost
increased from 4.90% to 6.75%. Other
expenses rose from 27.66% to 30.70%.
Selling and administration expenses rose from 14.82% to 17.26%. Construction development cost rose from
14.82% to 17.26%.
Other income rose
25.26% to Rs 319.26 crore. PBIDT rose
23.03% to Rs 584.77 crore. Provision for
interest rose 49.22% to Rs 333.11 crore.
PBDT fell 0.16% to Rs
251.66 crore. Provision for depreciation
rose 18.07% to Rs 89.3 crore.
Profit before tax
down 7.98% to Rs 162.36 crore. Share of
profit/loss was 65.48% higher at Rs 78.04 crore. Provision for tax was expense of Rs 75.9
crore, compared to Rs 4.37 crore.
Effective tax rate was 31.57% compared to 1.95%.
Minority interest
increased 22.44% to Rs 77.20 crore. Net
profit attributable to owners of the company decreased 44.10% to Rs 87.30
crore.
Equity capital
increased from Rs 33.66 crore as of 30 September 2022 to Rs 33.67 crore as of
30 September 2023. Per share face Value
remained same at Rs 1.00.
Promoters’ stake was
67.16% as of 30 September 2023 ,compared to 67.17% as of 30 September 2022
. Promoters pledged stake was 5.62% as
of 30 September 2023 ,compared to 5.62% as of 30 September 2022 .
For year-to-date (YTD) results analysis
Net sales (including
other operating income) of Godrej Industries has increased 4.94% to Rs 8443.27
crore.
Operating profit
margin has declined from 6.68% to 6.01%, leading to 5.59% decline in operating
profit to Rs 507.16 crore. Raw material
cost as a % of total sales (net of stock adjustments) decreased from 56.31% to
49.89%. Purchase of finished goods cost
fell from 5.20% to 4.44%. Employee cost
increased from 4.48% to 5.91%. Other
expenses rose from 28.39% to 34.42%.
Selling and administration expenses rose from 17.12% to 20.05%. Construction development cost rose from
17.12% to 20.05%.
Other income rose
49.54% to Rs 707 crore. PBIDT rose
20.22% to Rs 1214.16 crore. Provision
for interest rose 54.55% to Rs 635.82 crore.
Loan funds rose to Rs 25,272.50 crore as of 30 September 2023 from Rs
16,092.82 crore as of 30 September 2022.
Inventories rose to Rs 18,973.27 crore as of 30 September 2023 from Rs
8,995.23 crore as of 30 September 2022.
Sundry debtors were lower at Rs 1,538.39 crore as of 30 September 2023
compared to Rs 1,854.81 crore as of 30 September 2022. Cash and bank balance rose to Rs 1,965.71
crore as of 30 September 2023 from Rs 1,351.56 crore as of 30 September
2022. Investments rose to Rs 9,461.12
crore as of 30 September 2023 from Rs 9,101.98 crore as of 30 September 2022
.
PBDT fell 3.38% to Rs
578.34 crore. Provision for depreciation
rose 18.79% to Rs 174.87 crore. Fixed
assets increased to Rs 5,396.06 crore as of 30 September 2023 from Rs 4,517.88
crore as of 30 September 2022.
Intangible assets increased from Rs 1,119.34 crore to Rs 1,127.94
crore.
Profit before tax
down 10.61% to Rs 403.47 crore. Share of
profit/loss was 147.05% higher at Rs 222.79 crore. Provision for tax was expense of Rs 170.35
crore, compared to Rs 64.71 crore.
Effective tax rate was 27.20% compared to 11.95%.
Minority interest
increased 63.28% to Rs 190.55 crore. Net
profit attributable to owners of the company decreased 26.31% to Rs 265.36
crore.
Equity capital
increased from Rs 33.66 crore as of 30 September 2022 to Rs 33.67 crore as of
30 September 2023. Per share face Value
remained same at Rs 1.00.
Promoters’ stake was
67.16% as of 30 September 2023 ,compared to 67.17% as of 30 September 2022
. Promoters pledged stake was 5.62% as
of 30 September 2023 ,compared to 5.62% as of 30 September 2022 .
Cash flow from
operating activities decreased to negative Rs -3,162.55 crore for YTD ended
September 2023 from negative Rs -1,727.13 crore for YTD ended September
2022. Cash flow used in acquiring fixed
assets during the YTD ended September 2023 stood at Rs 430.97 crore, compared
to Rs 353.46 crore during the YTD ended September 2022.
The scrip is
currently trading at Rs 667
|
Godrej Industries : Consolidated
Results
|
|
Particulars
|
2309 (03)
|
2209 (03)
|
Var.(%)
|
2309 (06)
|
2209 (06)
|
Var.(%)
|
2303 (12)
|
2203 (12)
|
Var.(%)
|
|
Net Sales
|
3,937.61
|
4,021.04
|
-2
|
8,443.27
|
8,045.59
|
5
|
16,740.25
|
14,130.15
|
18
|
|
OPM (%)
|
6.7
|
5.5
|
|
6.0
|
6.7
|
|
9.0
|
7.4
|
|
|
OP
|
265.51
|
220.43
|
20
|
507.16
|
537.17
|
-6
|
1,510.22
|
1,043.46
|
45
|
|
Other Inc.
|
319.26
|
254.88
|
25
|
707
|
472.79
|
50
|
1,022.11
|
934.52
|
9
|
|
PBIDT
|
584.77
|
475.31
|
23
|
1,214.16
|
1,009.96
|
20
|
2,532.33
|
1,977.98
|
28
|
|
Interest
|
333.11
|
223.24
|
49
|
635.82
|
411.4
|
55
|
942.7
|
623.14
|
51
|
|
PBDT
|
251.66
|
252.07
|
0
|
578.34
|
598.56
|
-3
|
1,589.63
|
1,354.84
|
17
|
|
Depreciation
|
89.3
|
75.63
|
18
|
174.87
|
147.21
|
19
|
304.52
|
273.58
|
11
|
|
PBT
|
162.36
|
176.44
|
-8
|
403.47
|
451.35
|
-11
|
1285.11
|
1081.26
|
19
|
|
Share of Profit/(Loss) from Associates
|
78.04
|
47.16
|
65
|
222.79
|
90.18
|
147
|
395.47
|
284.95
|
39
|
|
PBT before EO
|
240.4
|
223.6
|
8
|
626.26
|
541.53
|
16
|
1680.58
|
1366.21
|
23
|
|
EO Income
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
-83.85
|
-
|
|
PBT after EO
|
240.4
|
223.6
|
8
|
626.26
|
541.53
|
16
|
1680.58
|
1282.36
|
31
|
|
Taxation
|
75.9
|
4.37
|
999
|
170.35
|
64.71
|
163
|
259.94
|
289.93
|
-10
|
|
PAT
|
164.5
|
219.23
|
-25
|
455.91
|
476.82
|
-4
|
1420.64
|
992.43
|
43
|
|
Minority Interest (MI)
|
77.2
|
63.05
|
22
|
190.55
|
116.7
|
63
|
445.86
|
338.7
|
32
|
|
Net profit
|
87.3
|
156.18
|
-44
|
265.36
|
360.12
|
-26
|
974.78
|
653.73
|
49
|
|
EPS (Rs)*
|
#
|
#
|
|
#
|
#
|
|
29.0
|
20.3
|
|
|
Notes
|
|
* EPS is on current equity of Rs 33.67 crore, Face value of Rs
1, Excluding extraordinary items.
|
|
# EPS is not annualised
|
|
bps : Basis points
|
|
EO : Extraordinary items
|
|
Figures in Rs crore
|
|
Source: Capitaline Corporate Database
|
|
Godrej Industries : Consolidated Segment Results
|
|
|
% of (Total)
|
2309 (03)
|
2209 (03)
|
Var.(%)
|
% of (Total)
|
2309 (06)
|
2209 (06)
|
Var.(%)
|
% of (Total)
|
2303 (12)
|
2203 (12)
|
Var.(%)
|
|
Sales
|
|
Chemicals
|
15
|
682.67
|
1219.06
|
-44
|
15
|
1408.59
|
2218.65
|
-37
|
22
|
4,172.97
|
3,056.98
|
37
|
|
Animal Feed
|
27
|
1,242.02
|
1,220.33
|
2
|
26
|
2,526.71
|
2,466.22
|
2
|
27
|
4,956.69
|
4,350.23
|
14
|
|
Veg Oils
|
13
|
597.97
|
533.58
|
12
|
11
|
1012.85
|
1148.13
|
-12
|
10
|
1,930.65
|
2,139.55
|
-10
|
|
Estate & Property Development
|
14
|
626.74
|
389.4
|
61
|
20
|
1,913.71
|
837.63
|
128
|
17
|
3,119.25
|
2,656.69
|
17
|
|
Finance and Investments
|
8
|
342.14
|
215.65
|
59
|
6
|
528.57
|
279.34
|
89
|
3
|
525.44
|
221.86
|
137
|
|
Dairy
|
9
|
390.08
|
360.84
|
8
|
8
|
814.56
|
754.27
|
8
|
8
|
1,501.13
|
1,175.00
|
28
|
|
Crop Protection
|
8
|
378.99
|
370.37
|
2
|
8
|
760.9
|
738.46
|
3
|
6
|
1,196.25
|
1,197.37
|
0
|
|
Others
|
6
|
257.68
|
244.78
|
5
|
7
|
626.94
|
523.75
|
20
|
6
|
1,164.28
|
903.32
|
29
|
|
Total Reported Sales
|
100
|
4,518.29
|
4,554.01
|
-1
|
100
|
9,592.83
|
8,966.45
|
7
|
100
|
18,566.66
|
15,701.00
|
18
|
|
Less: Inter segment revenues
|
|
261.42
|
278.09
|
-6
|
|
442.56
|
448.06
|
-1
|
|
804.3
|
636.33
|
26
|
|
Net Sales
|
|
4,256.87
|
4,275.92
|
0
|
|
9,150.27
|
8,518.39
|
7
|
|
17,762.36
|
15,064.67
|
18
|
|
PBIT
|
|
Chemicals
|
15
|
67.7
|
160.63
|
-58
|
19
|
179.91
|
337.99
|
-47
|
31
|
697.02
|
334.39
|
108
|
|
Animal Feed
|
13
|
58.47
|
51.59
|
13
|
12
|
114.5
|
78.57
|
46
|
8
|
184.76
|
239.7
|
-23
|
|
Veg Oils
|
12
|
53.24
|
68.75
|
-23
|
9
|
82.96
|
157.54
|
-47
|
12
|
261.27
|
251.15
|
4
|
|
Estate & Property Development
|
39
|
176.4
|
117.86
|
50
|
37
|
356.27
|
284.9
|
25
|
44
|
1,003.06
|
884.01
|
13
|
|
Finance and Investments
|
6
|
25.46
|
1.17
|
999
|
5
|
47.3
|
-9.47
|
LP
|
0
|
9.35
|
-2.13
|
LP
|
|
Dairy
|
1
|
2.93
|
-11.79
|
LP
|
0
|
0.43
|
-21.93
|
-102
|
-2
|
-43.85
|
-24.57
|
-78
|
|
Crop Protection
|
14
|
64.91
|
58.89
|
10
|
15
|
144.85
|
103.67
|
40
|
6
|
125.5
|
233.89
|
-46
|
|
Others
|
2
|
8.97
|
-11.16
|
LP
|
5
|
43.84
|
8.64
|
407
|
1
|
19.22
|
-0.36
|
LP
|
|
Total PBIT
|
100
|
458.08
|
435.94
|
5
|
100
|
970.06
|
939.91
|
3
|
100
|
2,256.33
|
1,916.08
|
18
|
|
Less : Interest
|
|
215.85
|
185.44
|
16
|
|
415.98
|
346.73
|
20
|
|
751.24
|
594.59
|
26
|
|
Add: Other un-allcoable
|
|
-79.87
|
-74.06
|
8
|
|
-150.61
|
-141.83
|
6
|
|
-219.98
|
-324.08
|
32
|
|
PBT
|
|
162.36
|
176.44
|
-8
|
|
403.47
|
451.35
|
-11
|
|
1,285.11
|
997.41
|
29
|
|