|
Consolidated
net sales (including other operating income) of Godrej Industries has declined
5.87% to Rs 4567.27 crore. Sales of
Chemicals segment has gone down 21.75% to Rs 670.40 crore (accounting for
12.80% of total sales). Sales of Animal
Feed segment has gone down 2.34% to Rs 1,189.55 crore (accounting for 22.71% of
total sales). Sales of Veg Oils segment
fell 12.97% to Rs 240.91 crore (accounting for 4.60% of total sales). Sales of Estate & Property Development
segment has gone up 2.75% to Rs 1,909.75 crore (accounting for 36.46% of total
sales). Sales of Finance and Investments
segment has gone up 115.08% to Rs 309.14 crore (accounting for 5.90% of total
sales). Sales of Dairy segment has gone
down 1.74% to Rs 392.12 crore (accounting for 7.49% of total sales). Sales of Crop Protection segment has gone up
5.10% to Rs 254.42 crore (accounting for 4.86% of total sales). Sales of Others segment has gone down 7.99%
to Rs 248.20 crore (accounting for 4.74% of total sales). Inter-segment sales came down from Rs 179.58
crore to Rs 135.21 crore.
Profit
before interest, tax and other unallocable items (PBIT) has jumped 12.45% to Rs
837.17 crore. PBIT of Chemicals segment
fell 68.14% to Rs 43.06 crore (accounting for 5.14% of total PBIT). PBIT of Animal Feed segment rose 50.95% to Rs
69.45 crore (accounting for 8.30% of total PBIT). PBIT of Veg Oils segment fell 14.79% to Rs
16.77 crore (accounting for 2.00% of total PBIT). PBIT of Estate & Property Development
segment rose 9.68% to Rs 578.73 crore (accounting for 69.13% of total
PBIT). PBIT of Finance and Investments
segment rose 270.15% to Rs 49.23 crore (accounting for 5.88% of total
PBIT). PBIT of Dairy reported profit of
Rs 20.34 crore compared to loss of Rs 8.29 crore. PBIT of Crop Protection segment rose 253.40%
to Rs 46.79 crore (accounting for 5.59% of total PBIT). PBIT of Others reported profit of Rs 8.23
crore compared to loss of Rs 2.23 crore.
PBIT
margin of Chemicals segment fell from 15.77% to 6.42%. PBIT margin of Animal Feed segment rose from
3.78% to 5.84%. PBIT margin of Veg Oils
segment fell from 7.11% to 6.96%. PBIT
margin of Estate & Property Development segment rose from 28.39% to
30.30%. PBIT margin of Finance and
Investments segment rose from 9.25% to 15.92%.
PBIT margin of Dairy segment rose from negative 2.08% to 5.19%. PBIT margin of Crop Protection segment rose
from 5.47% to 18.39%. PBIT margin of
Others segment rose from negative 0.83% to 3.32%. Overall PBIT margin rose from 14.14% to
15.98%.
Operating
profit margin has declined from 12.36% to 10.03%, leading to 23.64% decline in
operating profit to Rs 458.05 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
38.21% to 33.58%. Purchase of finished
goods cost rose from 1.99% to 2.28%.
Employee cost increased from 4.71% to 5.58%. Other expenses rose from 44.98% to
51.50%. Selling and administration
expenses rose from 34.72% to 39.80%.
Construction development cost rose from 34.72% to 39.80%.
Other
income rose 129.78% to Rs 535.69 crore.
PBIDT rose 19.30% to Rs 993.74 crore.
Provision for interest rose 30.15% to Rs 369 crore. Loan funds rose to Rs 28,995.90 crore as of
31 March 2024 from Rs 19,642.43 crore as of 31 March 2023. Inventories rose to Rs 24,442.79 crore as of
31 March 2024 from Rs 13,976.91 crore as of 31 March 2023. Sundry debtors were lower at Rs 1,275.15
crore as of 31 March 2024 compared to Rs 1,500.21 crore as of 31 March
2023. Cash and bank balance rose to Rs
3,509.66 crore as of 31 March 2024 from Rs 2,954.99 crore as of 31 March 2023. Investments rose to Rs 8,669.17 crore as of
31 March 2024 from Rs 8,008.96 crore as of 31 March 2023 .
PBDT
rose 13.69% to Rs 624.74 crore.
Provision for depreciation rose 26.32% to Rs 100.27 crore. Fixed assets increased to Rs 5,854.64 crore
as of 31 March 2024 from Rs 5,237.79 crore as of 31 March 2023. Intangible assets stood at Rs 972.82
crore.
Profit
before tax grew 11.56% to Rs 524.47 crore.
Provision for tax was expense of Rs 147.68 crore, compared to Rs 116.56
crore. Effective tax rate was 120.71%
compared to 17.17%.
Minority
interest increased 9.31% to Rs 286.47 crore.
Equity
capital increased from Rs 33.66 crore as of 31 March 2023 to Rs 33.67 crore as
of 31 March 2024. Per share face Value
remained same at Rs 1.00.
Promoters’
stake was 67.16% as of 31 March 2024 compared to 67.17% as of 31 March 2023
. Promoters pledged stake was 5.62% as
of 31 March 2024 ,compared to 5.62% as of 31 March 2023 .
Full year results
analysis
Net
sales (including other operating income) of Godrej Industries has declined
0.83% to Rs 16600.62 crore. Sales of
Chemicals segment has gone down 35.38% to Rs 2,696.67 crore (accounting for
14.24% of total sales). Sales of Animal
Feed segment has gone up 1.03% to Rs 5,007.65 crore (accounting for 26.43% of
total sales). Sales of Veg Oils segment
fell 13.21% to Rs 1,675.65 crore (accounting for 8.85% of total sales). Sales of Estate & Property Development
segment has gone up 40.25% to Rs 4,374.60 crore (accounting for 23.09% of total
sales). Sales of Finance and Investments
segment has gone up 130.04% to Rs 1,208.72 crore (accounting for 6.38% of total
sales). Sales of Dairy segment has gone
up 4.78% to Rs 1,572.86 crore (accounting for 8.30% of total sales). Sales of Crop Protection segment has gone up
3.47% to Rs 1,237.78 crore (accounting for 6.53% of total sales). Sales of Others segment has gone down 3.01%
to Rs 1,129.18 crore (accounting for 5.96% of total sales). Inter-segment sales rose Rs 804.30 crore to
Rs 846.79 crore.
Profit before interest, tax and other
unallocable items (PBIT) has slumped 3.86% to Rs 2,169.22 crore. PBIT of Chemicals segment fell 63.57% to Rs
253.95 crore (accounting for 11.71% of total PBIT). PBIT of Animal Feed segment rose 29.16% to Rs
238.63 crore (accounting for 11.00% of total PBIT). PBIT of Veg Oils segment fell 36.30% to Rs
166.44 crore (accounting for 7.67% of total PBIT). PBIT of Estate & Property Development
segment rose 10.19% to Rs 1,105.27 crore (accounting for 50.95% of total
PBIT). PBIT of Finance and Investments
segment rose 1,143.32% to Rs 116.25 crore (accounting for 5.36% of total
PBIT). PBIT of Dairy reported profit of
Rs 30.99 crore compared to loss of Rs 43.85 crore. PBIT of Crop Protection segment rose 72.45%
to Rs 216.43 crore (accounting for 9.98% of total PBIT). PBIT of Others segment rose 112.02% to Rs
40.75 crore (accounting for 1.88% of total PBIT).
PBIT
margin of Chemicals segment fell from 16.70% to 9.42%. PBIT margin of Animal Feed segment rose from
3.73% to 4.77%. PBIT margin of Veg Oils
segment fell from 13.53% to 9.93%. PBIT
margin of Estate & Property Development segment fell from 32.16% to
25.27%. PBIT margin of Finance and
Investments segment rose from 1.78% to 9.62%.
PBIT margin of Dairy segment rose from negative 2.92% to 1.97%. PBIT margin of Crop Protection segment rose
from 10.49% to 17.49%. PBIT margin of
Others segment rose from 1.65% to 3.61%.
Overall PBIT margin fell from 12.15% to 11.45%.
Operating
profit margin has declined from 9.02% to 7.50%, leading to 17.59% decline in
operating profit to Rs 1,244.53 crore.
Raw material cost as a % of total sales (net of stock adjustments)
decreased from 46.25% to 41.38%.
Purchase of finished goods cost rose from 3.38% to 3.64%. Employee cost increased from 4.29% to
5.56%. Other expenses rose from 39.22%
to 43.70%. Selling and administration
expenses rose from 29.34% to 31.18%.
Construction development cost rose from 29.34% to 31.18%.
Other
income rose 46.40% to Rs 1496.36 crore.
PBIDT rose 8.24% to Rs 2740.89 crore.
Provision for interest rose 43.46% to Rs 1352.42 crore. Loan funds rose to Rs 28,995.90 crore as of
31 March 2024 from Rs 19,642.43 crore as of 31 March 2023. Inventories rose to Rs 24,442.79 crore as of
31 March 2024 from Rs 13,976.91 crore as of 31 March 2023. Sundry debtors were lower at Rs 1,275.15
crore as of 31 March 2024 compared to Rs 1,500.21 crore as of 31 March
2023. Cash and bank balance rose to Rs
3,509.66 crore as of 31 March 2024 from Rs 2,954.99 crore as of 31 March 2023. Investments rose to Rs 8,669.17 crore as of
31 March 2024 from Rs 8,008.96 crore as of 31 March 2023 .
PBDT
fell 12.65% to Rs 1388.47 crore.
Provision for depreciation rose 21.75% to Rs 370.75 crore. Fixed assets increased to Rs 5,854.64 crore
as of 31 March 2024 from Rs 5,237.79 crore as of 31 March 2023. Intangible assets stood at Rs 972.82
crore.
Profit
before tax down 20.81% to Rs 1,017.72 crore.
Provision for tax was expense of Rs 369.28 crore, compared to Rs 259.94
crore. Effective tax rate was 38.29%
compared to 15.47%.
Minority
interest increased 20.04% to Rs 535.19 crore.
Net profit attributable to owners of the company decreased 93.85% to Rs
59.97 crore.
Equity
capital increased from Rs 33.66 crore as of 31 March 2023 to Rs 33.67 crore as
of 31 March 2024. Per share face Value
remained same at Rs 1.00.
Promoters’
stake was 67.16% as of 31 March 2024 ,compared to 67.17% as of 31 March 2023
. Promoters pledged stake was 5.62% as
of 31 March 2024 ,compared to 5.62% as of 31 March 2023 .
Cash flow from
operating activities increased to negative Rs -4,284.12 crore for year ended
March 2024 from negative Rs -4,409.38 crore for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 1,197.49 crore, compared to Rs
827.68 crore during the year ended March 2023.
The scrip is
currently trading at Rs 787
|
Godrej Industries : Consolidated
Results
|
|
Particulars
|
2403 (03)
|
2303 (03)
|
Var.(%)
|
2403 (12)
|
2303 (12)
|
Var.(%)
|
|
Net Sales (including other operating income)
|
4,567.27
|
4,852.11
|
-6
|
16,600.62
|
16,740.25
|
-1
|
|
OPM (%)
|
10.0
|
12.4
|
|
7.50
|
9.0
|
|
|
OP
|
458.05
|
599.88
|
-24
|
1,244.53
|
1,510.22
|
-18
|
|
Other Inc.
|
535.69
|
233.13
|
130
|
1,496.36
|
1,022.11
|
46
|
|
PBIDT
|
993.74
|
833.01
|
19
|
2,740.89
|
2,532.33
|
8
|
|
Interest
|
369
|
283.51
|
30
|
1,352.42
|
942.7
|
43
|
|
PBDT
|
624.74
|
549.5
|
14
|
1,388.47
|
1,589.63
|
-13
|
|
Depreciation
|
100.27
|
79.38
|
26
|
370.75
|
304.52
|
22
|
|
PBT
|
524.47
|
470.12
|
12
|
1017.72
|
1285.11
|
-21
|
|
Share of Profit/(Loss) from Associates
|
-402.13
|
208.6
|
PL
|
-53.28
|
395.47
|
PL
|
|
PBT before EO
|
122.34
|
678.72
|
-82
|
964.44
|
1680.58
|
-43
|
|
EO Income
|
0
|
0
|
-
|
0
|
0
|
-
|
|
PBT after EO
|
122.34
|
678.72
|
-82
|
964.44
|
1680.58
|
-43
|
|
Taxation
|
147.68
|
116.56
|
27
|
369.28
|
259.94
|
42
|
|
PAT
|
-25.34
|
562.16
|
PL
|
595.16
|
1420.64
|
-58
|
|
Minority Interest (MI)
|
286.47
|
262.08
|
9
|
535.19
|
445.86
|
20
|
|
Net profit
|
-311.81
|
300.08
|
PL
|
59.97
|
974.78
|
-94
|
|
EPS (Rs)*
|
#
|
#
|
|
1.8
|
29.0
|
|
|
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)
|
2403 (03)
|
2303 (03)
|
Var.(%)
|
% of (Total)
|
2403 (12)
|
2303 (12)
|
Var.(%)
|
|
Sales
|
|
Chemicals
|
13
|
670.4
|
856.69
|
-22
|
14
|
2,696.67
|
4,172.97
|
-35
|
|
Animal Feed
|
23
|
1,189.55
|
1,218.04
|
-2
|
26
|
5,007.65
|
4,956.69
|
1
|
|
Veg Oils
|
5
|
240.91
|
276.82
|
-13
|
9
|
1,675.65
|
1,930.65
|
-13
|
|
Estate & Property Development
|
36
|
1,909.75
|
1,858.67
|
3
|
23
|
4,374.60
|
3,119.25
|
40
|
|
Finance and Investments
|
6
|
309.14
|
143.73
|
115
|
6
|
1,208.72
|
525.44
|
130
|
|
Dairy
|
7
|
392.12
|
399.06
|
-2
|
8
|
1,572.86
|
1,501.13
|
5
|
|
Crop Protection
|
5
|
254.42
|
242.08
|
5
|
7
|
1,237.78
|
1,196.25
|
3
|
|
Others
|
5
|
248.2
|
269.74
|
-8
|
6
|
1,129.18
|
1,164.28
|
-3
|
|
Total Reported Sales
|
100
|
5,238.17
|
5,264.83
|
-1
|
100
|
18,943.77
|
18,566.66
|
2
|
|
Less: Inter segment revenues
|
|
135.21
|
179.58
|
-25
|
|
846.79
|
804.3
|
5
|
|
Net Sales
|
|
5,102.96
|
5,085.25
|
0
|
|
18,096.98
|
17,762.36
|
2
|
|
PBIT
|
|
Chemicals
|
5
|
43.06
|
135.14
|
-68
|
12
|
253.95
|
697.02
|
-64
|
|
Animal Feed
|
8
|
69.45
|
46.01
|
51
|
11
|
238.63
|
184.76
|
29
|
|
Veg Oils
|
2
|
16.77
|
19.68
|
-15
|
8
|
166.44
|
261.27
|
-36
|
|
Estate & Property Development
|
69
|
578.73
|
527.64
|
10
|
51
|
1,105.27
|
1,003.06
|
10
|
|
Finance and Investments
|
6
|
49.23
|
13.3
|
270
|
5
|
116.25
|
9.35
|
1143
|
|
Dairy
|
2
|
20.34
|
-8.29
|
LP
|
1
|
30.99
|
-43.85
|
LP
|
|
Crop Protection
|
6
|
46.79
|
13.24
|
253
|
10
|
216.43
|
125.5
|
72
|
|
Others
|
1
|
8.23
|
-2.23
|
LP
|
2
|
40.75
|
19.22
|
112
|
|
Total PBIT
|
100
|
837.17
|
744.49
|
12
|
100
|
2,169.22
|
2,256.33
|
-4
|
|
Less : Interest
|
|
212.9
|
208.42
|
2
|
|
842.42
|
751.24
|
12
|
|
Add: Other un-allcoable
|
|
-99.8
|
-65.95
|
-51
|
|
-309.08
|
-219.98
|
-41
|
|
PBT
|
|
524.47
|
470.12
|
12
|
|
1,017.72
|
1,285.11
|
-21
|
|