Godrej Consumer Products Ltd

About

Godrej Consumer Products is engaged in a fast moving consumer goods Company, manufacturing and marketing Household and Personal Care products.[1]

Key Points

Product Portfolio
The company has more than 10 brands which produces various products in various geographies. Its brands include :-[1]
GoodKnight- Mosquito Repellent Brand
Darling - Hair Extensions Business
No. 1 - Soap Brand
HIT - Pests killing products
Cinthol - Premium personal care products
Expert - Hair Color Brand
mitu - Babycare products
Stella - air freshener products
Aer - air freshener products[2]

Read More
  • Market Cap 91,772 Cr.
  • Current Price 897
  • High / Low 1,138 / 644
  • Stock P/E 50.7
  • Book Value 102
  • Dividend Yield 0.00 %
  • ROCE 19.7 %
  • ROE 20.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 8.76 times its book value
  • The company has delivered a poor sales growth of 5.54% over past five years.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: FMCG Industry: Personal Care - Indian

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
2,724 2,453 2,349 2,630 2,778 2,154 2,327 2,915 3,055 2,731 2,894 3,164
2,115 1,875 1,893 2,058 2,147 1,677 1,855 2,242 2,362 2,182 2,295 2,504
Operating Profit 609 578 456 572 631 476 472 673 693 549 600 660
OPM % 22% 24% 19% 22% 23% 22% 20% 23% 23% 20% 21% 21%
Other Income 29 23 22 23 20 -24 35 14 22 -47 19 21
Interest 58 57 55 53 48 62 48 31 24 23 27 25
Depreciation 43 43 47 48 49 53 49 51 49 54 51 51
Profit before tax 537 501 375 494 554 337 410 604 642 424 541 606
Tax % 21% -87% -9% 16% 20% 32% 4% 24% 22% 14% 24% 21%
Net Profit 424 935 408 414 445 230 395 458 502 366 414 479
EPS in Rs 4.14 9.15 3.99 4.05 4.35 2.25 3.86 4.48 4.91 3.58 4.05 4.68

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
2,041 3,692 4,853 6,412 7,599 8,273 8,424 9,268 9,847 10,314 9,911 11,029 11,844
1,633 3,034 3,991 5,417 6,430 6,894 6,766 7,361 7,763 8,183 7,757 8,629 9,343
Operating Profit 409 658 863 995 1,169 1,379 1,657 1,907 2,084 2,132 2,154 2,399 2,502
OPM % 20% 18% 18% 16% 15% 17% 20% 21% 21% 21% 22% 22% 21%
Other Income 46 93 252 194 62 73 -262 76 283 362 32 23 15
Interest 11 49 73 87 120 112 128 154 173 238 228 138 99
Depreciation 24 50 64 77 82 91 101 142 156 170 197 204 205
Profit before tax 420 653 977 1,025 1,030 1,249 1,167 1,687 2,039 2,085 1,760 2,080 2,213
Tax % 19% 21% 23% 17% 20% 22% 29% 22% 20% -12% 15% 17%
Net Profit 340 515 727 796 760 907 828 1,304 1,634 2,342 1,497 1,721 1,760
EPS in Rs 3.67 5.30 7.12 7.80 7.44 8.88 8.10 12.76 15.99 22.91 14.64 16.83 17.22
Dividend Payout % 39% 28% 22% 22% 24% 21% 24% 39% 42% 44% 55% 0%
Compounded Sales Growth
10 Years: 12%
5 Years: 6%
3 Years: 4%
TTM: 16%
Compounded Profit Growth
10 Years: 14%
5 Years: 10%
3 Years: 6%
TTM: 15%
Stock Price CAGR
10 Years: 21%
5 Years: 13%
3 Years: 6%
1 Year: 28%
Return on Equity
10 Years: 24%
5 Years: 24%
3 Years: 24%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
31 32 34 34 34 34 34 34 68 102 102 102 102
Reserves 924 1,693 2,770 3,279 3,741 4,277 4,233 5,268 6,190 7,165 7,796 9,337 10,375
Borrowings 37 2,001 1,877 2,456 2,373 2,717 2,891 4,001 3,508 3,382 3,575 1,864 2,224
559 764 1,317 1,926 2,171 2,097 2,521 3,637 4,098 3,445 3,407 2,941 2,535
Total Liabilities 1,551 4,490 5,998 7,695 8,320 9,125 9,679 12,940 13,864 14,094 14,880 14,244 15,236
574 3,078 3,692 4,496 5,121 5,551 5,931 8,083 8,315 8,670 9,231 8,905 9,070
CWIP 1 8 38 141 167 225 44 97 84 52 57 57 58
Investments 67 0 0 121 136 186 190 934 997 516 672 679 1,013
910 1,404 2,269 2,937 2,895 3,164 3,514 3,826 4,468 4,855 4,920 4,602 5,095
Total Assets 1,551 4,490 5,998 7,695 8,320 9,125 9,679 12,940 13,864 14,094 14,880 14,244 15,236

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
338 206 1,099 820 1,116 1,027 847 1,860 1,723 1,729 1,588 2,030
-51 -2,527 -856 -865 -494 -1,236 -622 -2,243 -336 274 -552 -292
-361 2,237 -7 282 -620 -12 -202 665 -1,384 -2,039 -1,295 -1,816
Net Cash Flow -73 -84 235 237 1 -221 23 282 3 -36 -259 -79

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 21 38 36 41 35 36 48 41 46 46 43 33
Inventory Days 102 94 124 126 111 102 123 125 135 125 146 127
Days Payable 53 71 121 125 127 103 140 152 201 204 212 160
Cash Conversion Cycle 70 61 38 43 20 34 32 13 -20 -33 -24 0
Working Capital Days 9 27 14 17 5 6 14 13 11 7 9 11
ROCE % 47% 28% 20% 18% 19% 21% 23% 22% 21% 20% 19% 20%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
63.25 63.25 63.25 63.24 63.24 63.24 63.24 63.23 63.23 63.23 63.23 63.22
27.67 27.46 27.99 27.78 27.74 26.34 26.79 26.77 26.77 26.61 26.97 26.21
2.31 2.54 2.15 2.24 2.22 3.11 3.19 3.07 3.09 3.05 1.23 4.60
6.77 6.75 6.61 6.74 6.80 7.32 6.78 6.93 6.91 7.11 8.58 5.97

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