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Icecream

Cornetto

Tea
Lipton

Food and Drinks


Soup
Knoor

salt
Annapurna

Kwality Walls Red Label


Magnum

Brook Bond
Taaza
Brook Bond 3
Rooses
Brookbond
Tajmahal

Per Share Ratios


Basic EPS (Rs.)

18.87

19.95

17.88

Diluted EPS (Rs.)

18.86

19.94

17.87

Cash EPS (Rs.)

20.35

21.27

19.09

Book Value
[ExclRevalReserve
]/Share (Rs.)

17.04

17.21

15.15

Book Value
[InclRevalReserve]
/Share (Rs.)

17.04

17.22

15.15

16

15

13

Revenue from
Operations/Share
(Rs.)

147.82

142.39

129.56

PBDIT/Share (Rs.)

28.79

26.93

23.56

PBIT/Share (Rs.)

27.31

25.61

22.36

PBT/Share (Rs.)

27.13

28.6

23.25

Net Profit/Share
(Rs.)

18.87

19.95

17.88

PBDIT Margin (%)

19.47

18.91

18.18

PBIT Margin (%)

18.47

17.98

17.25

PBT Margin (%)

18.35

20.08

17.94

Net Profit Margin


(%)

12.76

14

13.8

110.73

115.87

118.04

Return on Capital
Employed (%)

81.16

88.95

88

Return on Assets
(%)

28.81

31.65

29.75

225.78

225.94

215.55

Current Ratio (X)

1.03

1.05

1.03

Quick Ratio (X)

0.75

0.76

0.71

12.65

11.84

10.2

Dividend Payout
Ratio (NP) (%)

84.8

75.2

72.69

Dividend Payout
Ratio (CP) (%)

78.63

70.52

68.1

15.2

24.8

27.31

Dividend /
Share(Rs.)

Profitability Ratios

Return on Networth
/ Equity (%)

Asset Turnover
Ratio (%)
Liquidity Ratios

Inventory Turnover
Ratio (X)

Earnings Retention
Ratio (%)

Cash Earnings
Retention Ratio
(%)

21.37

29.48

31.9

187,086.59

186,314.36

128,330.42

5.85

6.05

4.58

EV/EBITDA (X)

30.03

31.98

25.18

MarketCap/Net
Operating
Revenue (X)

5.88

6.13

4.66

Retention Ratios
(%)

15.19

24.79

27.3

Price/BV (X)

51.04

50.71

39.85

Price/Net
Operating
Revenue

5.88

6.13

4.66

Earnings Yield

0.02

0.02

0.03

Valuation Ratios
Enterprise Value
(Cr.)
EV/Net Operating
Revenue (X)

HomeCare
CIF

Personal Care
Axe

Comfort

Dove

Active wheel

Lifebouy

Rin

LUX

Sunlight
Surf Excel

Pepsodent
POND's

Domex
Vim

Sunsilk Cocreation
Sure

Sunlight Colour Guard

Treseme
Vaseline
Avaince
Breeze
Closeup
Fair and Lovely
LAKME
Pears
TIGI
TONI & GUY
BryCream
Clinic Plus
ELLE 18
Hamam
Indulekha
Ayush
Liril
Rexona

17.56

12.46

17.55

12.45

18.65

13.46

12.36

16.25

12.37

16.25

18.5

7.5

119.35

102.32

21.32

16.51

20.23

15.5

22.93

16.05

17.56

12.45

17.86

16.14

16.94

15.15

19.2

15.68

14.7

12.16

142.01

76.62

98.44

59.68

32.97

24.56

224.19

201.82

0.99

1.21

0.66

0.82

10.21

8.79

105.35

60.22

99.18

55.7

-5.35

39.78

0.82

44.3

99,086.24

86,769.85

3.84

3.92

21.49

24.31

3.91

4.01

-5.35

39.77

37.7

25.23

3.91

4.01

0.04

0.03

SOAP

DEO

Detergent

Skin care
Cosmetics

Shampoo and Hair Care

ToothPaste

Milk Products and


Nutrition

Beverages
(Nescafe/tea)

Everyday Msala Fusion

Sunrise Insta filter

A+ Grekyo/Real Fruit
Yoghurt

Nescafe/Nescafe Classic

ED Dairy Whitener

Sunrise

A+ Nourish/Slim
Milk/Dahi

Nestea

Neslac

Cappucino

Actiplus Probiotic dahi

Gold

Bhuna Jeera Raita

Baby and me

Milkmaid

ED Ghee

CereGrow

Maggie

Chocolates and
Confectionery

Vending and Food


Services

Hotheads

MUNCH NUTS

Alegria

Chicken Noodle

KITKAT SENSES

Table Top

Oats

ALPINO

EZ Care

Vegetable atta Noodles

KITKAT

QUENCHER

Cuppa

BAR ONE

Bhuna masala

MUNCH

Coconut milk powder

CLASSIC

Magic Cubes

MILKYBAR

Masala e magic

MILKYBAR Choo

Pazzta

Eclairs

Sauces

POLO

Culinary
MAGGI Makhani Base
Gravy
MAGGI Brown Base
Gravy
MAGGI Kadhai Base
Masala
MAGGI Snack Dressing
MAGGI Coconut Milk
Powder

Per Share Ratios


Basic EPS
(Rs.)

5.44

8.45

8.95

6.69

5.48

Diluted EPS
(Rs.)

5.44

8.45

8.95

6.69

5.47

Cash EPS
(Rs.)

6.02

9.3

9.67

7.17

5.99

Book Value
[ExclRevalRe
serve]/Share
(Rs.)

20.13

36.32

30.6

30.88

18.28

Book Value
[InclRevalRes
erve]/Share
(Rs.)

20.13

36.32

30.6

30.88

18.28

4.25

2.5

0.7

Dividend /
Share(Rs.)

Revenue from
Operations/Sh
are (Rs.)

38.35

72.58

57.1

52.84

48.22

PBDIT/Share
(Rs.)

8.01

12.45

12.31

8.88

7.47

PBIT/Share
(Rs.)

7.43

11.6

11.59

8.36

6.95

PBT/Share
(Rs.)

7.32

11.33

11.12

8.41

6.49

Net
Profit/Share
(Rs.)

5.44

8.45

8.95

6.65

5.47

PBDIT Margin
(%)

20.88

17.14

21.55

16.79

15.48

PBIT Margin
(%)

19.38

15.97

20.3

15.82

14.42

PBT Margin
(%)

19.08

15.61

19.47

15.9

13.46

Net Profit
Margin (%)

14.18

11.64

15.67

12.59

11.35

Return on
Networth /
Equity (%)

27.01

23.26

29.25

21.54

29.94

26.9

21.58

25.79

18.08

23.14

Return on
Assets (%)

20.09

16.87

18.36

13.54

16.33

Total
Debt/Equity
(X)

0.01

0.08

0.21

0.33

0.49

141.65

144.88

117.14

107.53

143.9

1.9

2.03

1.43

1.67

1.65

Quick Ratio
(X)

1.03

0.9

0.69

0.78

0.78

Inventory
Turnover
Ratio (X)

6.45

5.91

5.55

4.81

5.59

Dividend
Payout Ratio
(NP) (%)

62.03

29.57

44.68

7.51

12.78

Dividend
Payout Ratio
(CP) (%)

56.1

26.87

41.37

6.97

11.69

Profitability Ratios

Return on
Capital
Employed (%)

Asset
Turnover
Ratio (%)
Liquidity Ratios
Current Ratio
(X)

Earnings
Retention
Ratio (%)

37.97

70.43

55.32

92.49

87.22

Cash
Earnings
Retention
Ratio (%)

43.9

73.13

58.63

93.03

88.31

31,178.64

25,045.14

13,796.28

14,320.04

11,250.90

6.3

5.35

3.75

4.2

3.79

30.18

31.2

17.38

25.02

24.51

6.32

5.33

3.67

4.02

3.62

Retention
Ratios (%)

37.96

70.42

55.31

92.48

87.21

Price/BV (X)

12.04

10.66

6.85

6.87

9.55

Price/Net
Operating
Revenue

6.32

5.33

3.67

4.02

3.62

Earnings Yield

0.02

0.02

0.04

0.03

0.03

Valuation Ratios
Enterprise
Value (Cr.)
EV/Net
Operating
Revenue (X)
EV/EBITDA
(X)
MarketCap/N
et Operating
Revenue (X)

Cigarettes

Foods

Personal Care

Gold Flake

Sunfeast

Vivel

Bristol

Ashirwad

Fiama Di Wills

Lucky Strike

Bingo

Engage

Classic

Kitchens of
India

Essenza Di
Wills

Duke & Royal

Yipee

Savlon

Navy Cut

B Natural

Superia

Scissor

Mint O

Cell Renew

Insignia

Gumon

Shower to
Shower

India Kings

Candyman

Education

Retailing

Classmate

John Player

Safety match
and
Agarbattis
AIM (Match)

Paper Craft

Wills Lifestyle

I Kno (Match)
Mangaldeep
Flora
Temple

Per Share Ratios


Basic EPS
(Rs.)

5.34

4.35

3.85

3.39

2.66

Diluted EPS
(Rs.)

5.31

4.32

3.83

3.37

2.64

Cash EPS
(Rs.)

5.75

4.72

4.16

3.81

3.04

Book Value
[ExclRevalRe
serve]/Share
(Rs.)

16.33

13.3

10.91

9.12

7.48

Book Value
[InclRevalRes
erve]/Share
(Rs.)

16.33

13.3

10.91

9.15

7.48

2.25

1.75

1.5

1.3

Revenue from
Operations/Sh
are (Rs.)

32.69

30.92

27.93

24.95

21.57

PBDIT/Share
(Rs.)

7.36

6.13

5.36

4.83

4.09

PBIT/Share
(Rs.)

6.95

5.75

5.05

4.41

3.71

PBT/Share
(Rs.)

6.89

5.56

4.94

4.3

3.63

Net
Profit/Share
(Rs.)

5.34

4.34

3.85

3.39

2.66

PBDIT Margin
(%)

22.52

19.81

19.2

19.34

18.94

PBIT Margin
(%)

21.26

18.6

18.09

17.65

17.19

PBT Margin
(%)

21.09

17.97

17.7

17.23

16.81

Net Profit
Margin (%)

16.33

14.04

13.8

13.58

12.32

Return on
Networth /
Equity (%)

32.71

32.64

35.33

37.16

35.56

Return on
Capital
Employed (%)

31.51

31.39

33.85

35.39

33.76

Return on
Assets (%)

21.08

20.67

21.52

20.89

18.89

Dividend /
Share(Rs.)

Profitability Ratios

Total
Debt/Equity
(X)

0.03

0.06

0.02

0.15

0.21

129.06

147.25

156

153.8

153.27

Current Ratio
(X)

1.32

1.25

1.66

1.5

1.48

Quick Ratio
(X)

0.91

0.81

1.16

1.07

0.99

Inventory
Turnover
Ratio (X)

9.34

9.86

8.72

8.7

7.11

Dividend
Payout Ratio
(NP) (%)

42.12

46.06

45.4

44.23

48.88

Dividend
Payout Ratio
(CP) (%)

39.09

42.39

42.03

39.36

42.8

Earnings
Retention
Ratio (%)

57.88

53.94

54.6

55.77

51.12

Cash
Earnings
Retention
Ratio (%)

60.91

57.61

57.97

60.64

57.2

43,860.33

46,631.48

31,056.75

23,808.62

18,547.92

EV/Net
Operating
Revenue (X)

7.63

8.59

6.38

5.47

4.94

EV/EBITDA
(X)

33.86

43.32

33.21

28.3

26.05

7.62

8.58

6.43

5.49

4.93

Retention
Ratios (%)

57.87

53.93

54.59

55.76

51.11

Price/BV (X)

15.26

19.96

16.46

15.02

14.23

Asset
Turnover
Ratio (%)
Liquidity Ratios

Valuation Ratios
Enterprise
Value (Cr.)

MarketCap/N
et Operating
Revenue (X)

Hair and Cair


Godrej Expert
Darling
Ilicit
Bblunt
Touch of Silver
Issue
Infecto
Renew
Roby
911
Nupur
Frika

About Company

As part of the 119-year young Godrej Group, we are fortunate to have a proud legacy b

Today, our Group enjoys the patronage of 1.1 billion consumers globally, across differen
are building a presence in 3 emerging markets (Asia, Africa, Latin America) across 3 cate

24 per cent of the holding company of our Group is held in a trust that invests in the en
difference through our 'Good & Green' approach to create a more inclusive and greener
World's first 'vegetable' soap
Innovation isn't new to us, nor is standing up for a cause. We go against
the tide of the Raj, and launch Chavi, the first soap in the world to be
made without animal fat. We score for not only ahimsa, but also swadeshi.

The launch of a soap using vegetable oil, obviously called for an effective
marketing campaign. Ardeshir distributed pamphlets in Gujarati titled
'Vacho ane Seekho' (Read and learn) explaining how to make soap using
vegetable oil, thus winning over the confidence of customers.

Godrej No. 1 is launched

In case you were wondering, Godrej No.1 isn't far behind. Born into
swadeshi fervour, it is lauded and fondly endorsed by many, including
Annie Besant, C. Rajagopalachari and Rabindranath Tagore. Today, it is one
of India's biggest soap brands.

Powder hair dye, our new offering


In 1974, we launch our first hair colour brand - Godrej Liquid Hair Dye. In
the following years, we get a little bolder with hair colour and develop a
hair dye in powder form. It is the first in a series of innovative hair colour
offerings tailored specially for our Indian consumers. They respond and
how - numbers suggest that today 8 sachets of our powder hair colour are
purchased every second!

Godrej Sara Lee is formed


Translektra enters into a strategic alliance with Sara Lee USA, which brings
in much more to learn and explore over the next 17 odd years, including
the air freshener brand Ambi Pur, styling cream, Brylcreem and shoe
polish, Kiwi. A few years later, the company is renamed Godrej Sara Lee.

GCPL, as you know it


Our company, known back in the day as Godrej Soaps, is demerged into
two separate entities. One, a Chemicals business, Godrej Chemicals,
continuing on one of the oldest businesses of the Godrej Group. The other,
is a focused FMCG business, Godrej Consumer Products, as we are now
known. And this is where our story picks up pace.

Our 3x3 strategy

Now we get really serious about going global. 4 acquisitions in 4 months.


Our entire approach is built on our 3x3 strategy - a presence in 3 emerging
markets (Asia, Africa and Latin America) across 3 categories (Personal
Wash, Home Care and Hair Care). We add to our Africa presence with Tura,
a major personal care brand from Nigeria. Latin America opens up with
leading hair colour players, Issue and Argencos. And we team up with
Megasari, a heavyweight in the home and personal care markets of
Indonesia

Financial Analysis answers

Poem of godrej

Home care
Good Night
Hit
Stella air freshner
aer
Ezee

Indian Market

tunate to have a proud legacy built on the strong values of trust, integrity and respect for others

sumers globally, across different businesses. In line with our 3 by 3 approach to international expansion at G
rica, Latin America) across 3 categories (home care, personal wash, hair care).

d in a trust that invests in the environment, health and education. We are also bringing together our passion
te a more inclusive and greener India.

Last year the revenue increased by 8.3 % to around 9000 crores. Profit after tax increase by 180 cr
profit margin looks stable at 18.28 %. Networth of the company increased by 14 % to reach 4310 c
employed increased to 21 %. EPS is 32.87 and PE is 41.98.

GCPLs current ration has been around 1.15 which indicate that company is comfortably placed to p

GCPLs Debt/Equity ratio was on avg around 0.61 in last 5 years, that indicates that godrej is operat

Interest coverage ratio: For GCPL, it is around 12.54 which is a very healthy ratio and company w
debt obligation

There is always much to cheer when godrej gives ou are carees


since we are a conglomorate

ooportunitrea rea great


consumer pro
reak es
chem
agri
are on our plate
we have wide geographic slte

Personal Care
Godrej No.1
CINTHOL
Soft and Gentle
Protekt
Villeneuve
Mitu
PamelaGrant Beauty
Cuticura
Original Tura

integrity and respect for others

3 approach to international expansion at Godrej Consumer Products, we


h, hair care).
We are also bringing together our passion and purpose to make a

It's all in the name!


Close on its heels, we launch another soap, Godrej No.2. Why the name?
To borrow Ardhesir Godrej's explanation, "If people find No.2 so good,
they'll believe No.1 to be even better!"

Cinthol, a legend, is born

We launch Cinthol on India's independence day and another legend is


born. From the unforgettable Vinod Khanna riding a horse into the sunset
to Virat Kohli's jig in a locker room, Cinthol is fresh and packed with high
energy. That's what makes it a household favourite across India. Together
with Godrej No. 1, it makes us the second largest soap player in India.

Translektra, our first acquisition


The Godrej Group makes its first acquisition, Translektra, with its brands
Good knight and Hit - a game-changing move that opens up a whole new
category to play in. Between Good knight and Hit, a household revolution
of sorts begins in the country.

Good knight enters vaporiser market


Good knight starts branching out into new formats. We enter the vaporiser
market with the Good knight liquidator and a new liquid mosquito
destroyer machine.

Good knight comes up with the Maha Jumbo Coil


Mats, as a category, is losing share in the overall household insecticide
space. Good knight starts looking to build on new product categories and
introduces a 10-hour coil. Later, Good knight works on alternatives and
comes up with a low smoke variant that soon becomes popular.

Brighter Living, our new mission


The Godrej Group undertakes a massive rebranding exercise. Brighter
Living, the new mission for the brand, is born of a vision to take what is
good and timeless about Godrej and make it great and topical. So that
today and forever into the future, Godrej will continue to serve its over 500
million customers with reliable and innovative products and services.

Introducing Godrej Expert


Godrej liquid and powder hair colours is rebranded as Godrej Expert. We
continue to be the number one player in the hair colour category in India,
constantly innovating and exploring new ways to delight our consumers.

India's first Twitter sourced song

We are here to change the air. The way it smells, and the way it spells.
Godrej aer, our delightful range of home and car air fresheners is thus
born. Among the many fun things we have done, is creating India's first
Twitter sourced song, Don't Smoke Because...

00 crores. Profit after tax increase by 180 crores to 1158 crores. While
ompany increased by 14 % to reach 4310 crores. Return on capital
98.

te that company is comfortably placed to pay its short term liabilities

5 years, that indicates that godrej is operating at considerate debt

which is a very healthy ratio and company will be able to pay easily their
debt obligation

For marico 1.41


0.25

18.46

GCPL Division

or marico 1.41

on

Financial Analysis

Basic EPS (Rs.)

21.72

19.22

16.6

15.01

18.58

Net Profit Margin


(%)

15.37

14.77

13.84

14.26

20.28

Asset Turnover
Ratio (%)

95.72

89.99

90.94

87.59

83.25

8.66

9.05

8.27

6.68

6.88

46,820.10

34,933.81

28,787.49

26,318.15

16,190.37

45.67

38.94

36.58

38.66

26.23

9.73

7.89

7.06

7.35

5.43

12.28

10.47

9.59

9.6

6.47

Inventory Turnover
Ratio (X)

Valuation Ratios
Enterprise Value
(Cr.)
EV/EBITDA (X)
EV/Net Operating
Revenue (X)
Price/BV (X)

Mar-16

Mar-15

Mar-14

Mar-13

Mar-12

Basic EPS
(Rs.)

21.72

19.22

16.6

15.01

18.58

Diluted EPS
(Rs.)

21.72

19.22

16.59

15.01

18.58

Per Share Ratios

Cash EPS
(Rs.)

23.12

20.45

17.64

15.96

18.52

Book Value
[ExclRevalRe
serve]/Share
(Rs.)

112.28

99.38

88.85

81.14

74.17

Book Value
[InclRevalRes
erve]/Share
(Rs.)

112.28

99.38

88.85

81.14

74.17

5.75

5.5

5.25

4.75

141.31

130.14

119.85

105.23

87.57

PBDIT/Share
(Rs.)

30.11

26.36

23.12

20

18.14

PBIT/Share
(Rs.)

28.72

25.13

22.08

19.06

17.38

PBT/Share
(Rs.)

27.64

24.3

20.95

18.6

22.31

Net
Profit/Share
(Rs.)

21.72

19.23

16.59

15.01

17.76

Dividend /
Share(Rs.)

Revenue from
Operations/Sh
are (Rs.)

Profitability Ratios

PBDIT Margin
(%)

21.3

20.25

19.29

19

20.71

PBIT Margin
(%)

20.32

19.31

18.42

18.1

19.84

PBT Margin
(%)

19.56

18.67

17.47

17.67

25.47

Net Profit
Margin (%)

15.37

14.77

13.84

14.26

20.28

Return on
Networth /
Equity (%)

19.34

19.34

18.67

18.5

23.94

Return on
Capital
Employed (%)

19.33

19.29

18.61

16.83

21.71

Return on
Assets (%)

Total
Debt/Equity
(X)

Asset
Turnover
Ratio (%)

Profitability Ratios

14.71

13.29

12.59

12.49

16.88

0.09

0.09

95.72

89.99

90.94

87.59

83.25

PBDIT Margin
(%)

21.3

20.25

19.29

19

20.71

PBIT Margin
(%)

20.32

19.31

18.42

18.1

19.84

PBT Margin
(%)

19.56

18.67

17.47

17.67

25.47

Net Profit
Margin (%)

15.37

14.77

13.84

14.26

20.28

Return on
Networth /
Equity (%)

19.34

19.34

18.67

18.5

23.94

Return on
Capital
Employed (%)

19.33

19.29

18.61

16.83

21.71

Return on
Assets (%)

14.71

13.29

12.59

12.49

16.88

0.09

0.09

95.72

89.99

90.94

87.59

83.25

Total
Debt/Equity
(X)

Asset
Turnover
Ratio (%)

Valuation Ratios

Enterprise
Value (Cr.)

46,820.10

34,933.81

28,787.49

26,318.15

16,190.37

EV/Net
Operating
Revenue (X)

9.73

7.89

7.06

7.35

5.43

EV/EBITDA
(X)

45.67

38.94

36.58

38.66

26.23

MarketCap/N
et Operating
Revenue (X)

9.76

7.11

7.41

5.48

Retention
Ratios (%)

73.52

71.38

68.36

66.69

74.08

Price/BV (X)

12.28

10.47

9.59

9.6

6.47

Price/Net
Operating
Revenue

9.76

7.11

7.41

5.48

Earnings Yield

0.02

0.02

0.02

0.02

0.04

Liquidity And Solvency


Ratios
Current Ratio

1.01

0.9

0.73

1.28

1.37

Quick Ratio

0.55

0.58

0.39

0.78

0.84

26.76

23.17

19.51

41.86

429.07

Debt Coverage Ratios

Interest Cover

Management Efficiency Ratios


Inventory
Turnover
Ratio

9.21

9.61

8.71

6.68

7.26

Debtors
Turnover
Ratio

22.92

31.39

31.22

33.1

30.12

Key Financial Figures


Consolidated
Particulars

(Rs.C
FY 2012

FY 2013

FY 2014

FY 2015

Total Income from 4,866.16


Operations

6,407.44

7,602.41

8,276.36

Expenses
3,990.26
Earnings Before 875.9
Other Income,
Interest, Tax and
Depreciation
(Operating Profit)

5,425.06
982.38

6,452.10
1,150.31

6,911.05
1,365.31

Depreciation
Finance Costs

64.44
65.84

77
77.45

81.85
107.37

90.78
100.15

Other income

31.5

67.78

62.71

91.51

Exceptional items -200.17

-128.9

-5.87

17.17

PBT

977.29

1,024.61

1,029.67

1,248.72

Tax
Extraordinary
items

226.05

179.18

210.37

272.29

PAT (before
751.24
Minority Interest
and share of
Profit/ (loss)
24.52
Associates)
attributable to
Minority Interest

845.43

819.3

976.43

49.33

59.52

69.35

Share of profit /
(loss) of
Consolidated
726.72
Associates
Profit / (Loss) for
the year
Consolidated

Profitab
ility
Analysi
Particulars
FY 2012
s

0.05

-0.04

796.1

759.73

907.12

FY 2013

FY 2014

FY 2015

Operating Profit
Margin Ratio

15.33

15.13

16.5

13.19

10.78

11.8

18

Net Profit Margin 14.93


Ratio

Operating profit margin is a measurement of the proportion of a companys revenue that is left over after paying
production costs such as raw materials, salaries and administrative costs. Net profit margin is arrived at by
deducting non operating expenses such as depreciation, finance costs and taxes out of operating profit and show
what is left for the shareholders as a percentage of net sales. Together these ratios help in understanding the co
and profit structure of the firm and analysing business inefficiencies.

Profitability Ratios

Key
Balance
Sheet
Figures

Sourcesof
Funds/
Liabilities

(Rs.C

Particulars

FY 2011

FY 2012

FY 2013

FY 2014

Share Capital

32.36

34.03

34.03

34.04

Reserves &
Surplus

1,692.80

2,781.15

3,279.01

3,741.36

Net worth
(shareholders
funds)

1,725.16

2,815.18

3,313.04

3,775.40

Minority Interest

88.23

209.51

225.1

Long term
borrowings

1,342.04

1,528.12

1,866.15

1,590.25

Current liabilities 1,394.66

1,556.30

2,279.09

2,699.94

Other long term


liabilities and
provisions

26.71

26.71

27.28

29.4

Deferred Tax
Liabilities

8.6

11.05

5.96

4.65

Total Liabilities

4,497.17

6,028.29

7,701.03

8,324.74

Applicationof
Funds/Assets

(Rs.C

Particulars

FY 2011

FY 2012

FY 2013

FY 2014

Fixed Assets

1,545.29

1,583.96

1,728.46

1,735.98

Noncurrent
Investments

2.39

14.16

19.98

34.27

Current assets

1,237.07

2,026.86

2,848.37

2,818.26

Long term
172.01
advances and
other noncurrent
assets

257.9

195.77

158.81

Goodwill on
consolidation
(net)

2,145.41

2,908.45

3,552.45

1,540.41

Total assets

4,497.17

6,028.29

7,701.03

8,324.74

Particulars

FY 2011

FY 2012

FY 2013

FY 2014

ROCE

21.58

19.77

18.23

20.58

ROE / RONW

29.84

25.81

24.03

20.12

Efficien
cy
Analysi
s

companys
profitability from
its overall
operations by
calculating the
return generated
on the total capital
invested in the
business (i.e.
equity + debt).
Return on Equity
(ROE) or Return
on Net worth
(RONW)
measures the
amount of profit
which the
company
generates on
money invested by
the equity
shareholders. In
short, ROE draws
attention to the
return generated
by the
shareholders on
their investment
in the business.
Together these
ratios can be used
in comparing the
profitability of the
company with
Efficiency Ratios

Valuati
on
Analysi
s
Consolidated
Particulars

FY 2012

FY 2013

FY 2014

FY 2015

Total Income from 4,866.16


Operations
(Rs. Cr.)

6,407.44

7,602.41

8,276.36

Growth (%)

32.80%

31.67%

18.65%

8.86%

PAT (Rs. Cr.)

751.24

845.43

819.3

976.43

Growth (%)

45.95%

12.54%

-3.09%

19.18%

Earnings Per
Share Basic
(Rs. )

22.34

23.39

22.32

26.65

Earning Per Share 22.34


Diluted (Rs. )

23.39

22.32

26.64

Price to Earnings 21.47

33.32

35.09

39.42

Price Earnings Ratio

Dividen
d
History

The Company has


maintained an
average dividend
yield of1.64
% over the last 5
financial years.

Liquidit
y and
Credit
Analysi
s

CurrentRatio

ratio implies
healthier short
term liquidity
comfort level. A
current ratio
below 1 indicates
that the company
may not be able to
meet its
obligations in the
short run.
However, it is not
always a matter of
worry if this ratio
temporarily falls
below 1 as many
times companies
squeeze out short
term cash sources
to achieve a capital
intensive plan
with a longer term
outlook. Godrej
Consumers
average current
ratio over the last
5 financial years
has been 1.15
times which
indicates that the
Company is
comfortably
placed to pay for
its short term
LongTermDebt
toEquityRatio

Companies
operating with
high long term
debt to equity on
their balance
sheets are
vulnerable to
economic cycles.
In times of
slowdown in
economy,
companies with
high levels of debt
find it increasingly
difficult to service
the interest on
their borrowings
as profit margins
decline. We
believe that long
term debt to
equity ratio higher
than 0.6 0.8
could affect the
business of a
company and its
results of
operations.

Godrej
Consumers
average long term
debt to equity
ratio over the last
5 financial years
has been 0.61
times which
indicates that the
Company operates
with considerate
level of debt.

Interest
Coverageratio

ratio indicates the


comfort with
which the
company may be
able to service the
interest expense
(i.e. finance
charges) on its
outstanding debt.
Higher interest
coverage ratio
indicates that the
company can
easily meet the
interest expense
pertaining to its
debt obligations.
In our view,
interest coverage
ratio of below 1.5
should raise
doubts about the
companys ability
to meet the
expenses on its
borrowings.
Interest coverage
ratio below 1
indicates that the
company is just
not generating
enough to service
its debt

Godrej
Consumers
average interest
coverage ratio
over the last 5
financial years has
been 12.54 times
which indicates
that the Company
can meet its debt
obligations
without any
difficulty.

Liquidity & Credit Ratios

Owners
hip
pattern

In its latest stock


exchange filing
dated 31
March 2016,
Godrej Consumer
reported a
promoter holding
of 63.28 %. Large
promoter holding
indicates
conviction and
sincerity of the
promoters. We
believe that a
greater than 35 %
promoter holding
offers safety to the
retail investors.

At the same time,


institutional
holding in the
Company stood at
30.44 %
(FII+DII). Large
institutional
holding indicates
the confidence of
seasoned
investors. At the
same time, it can
also lead to high
volatility in the
stock price as
institutions buy
and sell larger
stakes than retail
participants

(Rs.Cr)
FY 2016
8,967.81

7,328.58
1,639.23

103.11
100.17
66.87

26.83
1,475.99
317.10

1,158.89
39.58

(0.10)
1,119.41

(%)
FY 2016
18.28
12.92

hat is left over after paying for


fit margin is arrived at by
f operating profit and shows
lp in understanding the cost
encies.

(Rs.Cr)

FY 2015
34.04
4,276.65

4,310.69

162.04

2,023.03

2,612.59

30.46

3.13

9,141.94

(Rs.Cr)

FY 2015
1,731.51
34.31

3,089.56
208.17

4,044.05

9,141.94

FY 2015
21.02
21.04

FY 2016

8,967.81

8.35 %
1,158.89

18.69 %
32.87

32.86

41.98

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