1. Godrej Consumer Products Limited Q3 2003-04 Performance Update Godrej Consumer Products Limited 31 January 2004 Quarterly update Q3 & 9M 2003-04

2. Godrej Consumer Products Limited Q3 2003-04 Performance Update Contents Highlights Highlights Business Highlights Business Highlights Key Financials Key Financials Key Ratios Key Ratios

3. Godrej Consumer Products Limited Q3 2003-04 Performance Update Highlights Q3 & 9M 2003-04 Highlights Q3 & 9M 2003-04 Q3 ’03-04 Q3 ’02-03 9M ’03-04 9M 02-03 Sales (own Brands) 125.4 3% 121.2 347.5 5% 329.8 (net of excise) Contract Mfg 0.1 (97%) 4.6 8.6 (51%) 17.5 Total Sales 128.3 (1%) 128.9 367.6 1% 362.4 Material Cost 54.8 63.0 178.2 171.0 A & P 17.4 16.0 39.5 44.7 PBDIT 25.8 14% 22.763.5 (3%) 65.7 PAT 17.9 21% 14.845.6 10% 41.6 EVA 14.8 26% 11.737.0 16% 31.9 EPS (Rs.) 12.6 24% 10.210.6 12% 9.5 Amts in Rs. Crore

4. Godrej Consumer Products Limited Q3 2003-04 Performance Update Dividend (2003-04) Third Interim Dividend announced  Dividend per share Rs.2.00  Dividend % 50%  Total outlay (including tax on Rs.12.8 Cr distributed profits)  Dividend % till date for 2003-04 150%  Dividend payout as a % of YTD PAT 84.7% ( Dividend payout has been taken incl distribution tax)

5. Godrej Consumer Products Limited Q3 2003-04 Performance Update Shares Buy-back Fourth buyback from open market at a price not exceeding Rs.200 per share at a total outlay of Rs.3.7 crore – - 135477 shares bought back till date at an outlay of Rs 2.06 crore Fifth buyback from open market (to commence after the completion of Fourth buyback) at a price not exceeding Rs.200 per share at a total outlay of Rs.8.4 crore approved by the Board (subject to shareholders approval)

6. Godrej Consumer Products Limited Q3 2003-04 Performance Update Business Highlights Industry Scenario Rupee continues to strengthen vs US Dollar Vegetable Oil prices are moving up Most categories in FMCG continue to degrow Import duties on vegetable oils have come down

7. Godrej Consumer Products Limited Q3 2003-04 Performance Update Business Highlights contd.. GCPL has been included in the BSE “A” Group w.e.f Nov 3, 2003 GCPL’s Malanpur Factory received the Qimpro Certificate of Merit in recognition of being “Proficient and accepted by industry as being a superior operation”. In Dec’03 the Malanpur Factory also won the National Safety Council of India’s award “in recognition of developing & implementing effective management systems & procedures”. GCPL Malanpur factory won 12 awards in NCQC 2003 held at Madurai

8. Godrej Consumer Products Limited Q3 2003-04 Performance Update Soap Growth - GCPL brands in Q3 2003-04 8% in volume terms Godrej No.1 grew by 19% in volume terms during Q3 2003-04 Cinthol recognised by superbrands Council (UK) to be a super brand; also mentioned amongst ‘Brand Equity’ most trusted brands in 2003 Himachal Pradesh unit has commenced operations in Jan’04 Business Highlights contd.. Personal Care Godrej Renew cream hair colour launched

9. Godrej Consumer Products Limited Q3 2003-04 Performance Update Sales Growth vs Industry Growth Oct-Dec ‘03 vs Oct-Dec ‘02 Industry GCPL GCPL (ORG offtake) (ORG offtake)Shipment (ORG offtake) (ORG offtake)Shipment Toilet Soaps (5%) 10% 2% Hair Colours 7% 4% 3% All figures shown are % change for All India Value Source : Industry data : ORG MARG

10. Godrej Consumer Products Limited Q3 2003-04 Performance Update Market Shares All figures shown are % for All India Value MS Source : ORG Data Oct-Dec’03 Oct-Dec’02 Oct-Dec’03 Oct-Dec’02 Toilet Soaps 6.7% 5.8% Hair Colours 42.7% 44.0%

11. Godrej Consumer Products Limited Q3 2003-04 Performance Update Rs Crore Q3 03-04 Q3 0203 9M 03-049M 0203 Segment Revenue Q3 03-04 Q3 0203 9M 03-04 9M 0203 Soap 64.7 68.4230.1 228.6 Personal Care 63.6 60.8 139.5 139.5 Unallocated income - - - - Total 128.3 129.2 369.6 368.1 PBIT Soap 5.4 2.7 19.6 18.7 Personal Care 22.6 21.6 49.3 51.0 Segment PBIT 28.1 24.3 68.9 69.7 Less Interest (Net) 0.7 1.0 1.8 2.5 Less other unallocated expenses 4.7 3.9 12.3 10.8 PBT 22.7 19.4 54.7 56.5 Segmental data (Q3 & 9M 2003-04)

12. Godrej Consumer Products Limited Q3 2003-04 Performance Update Segmental data (Q3 & 9M 2003-04) Rs Crore Q3 & 9M 03-04Q3 & 9M 0203 Segment Capital Employed Q3 & 9M 03-04 Q3 & 9M 0203 Soap * 38.9 51.6 Personal Care 23.7 12.1 Unallocated 17.5 21.5 Total 80.1 85.2 * Includes Contract Manufacturing

13. Godrej Consumer Products Limited Q3 2003-04 Performance Update Category-wise Turnover Q3 Rs Crore Q3 03-04Q3 02-03 Growth % Turnover (net of Excise) Q3 03-04 Q3 02-03 Growth % Toilet Soaps62.461.1 2% Hair Colours30.129.1 3% Liquid Detergents27.225.7 6% Toiletries 5.7 5.3 7% Total Godrej Brands 125.4 121.2 3% Contract Mfg 0.1 4.6(97%) By-Products 2.8 3.1 (11%) Total Sales 128.3 128.9 (1%)

14. Godrej Consumer Products Limited Q3 2003-04 Performance Update Sales-Mix Q3 - 2003-04 Godrej Brand Toilet Soaps (Rs.62.4 cr) (50%) Contract Mfg (Rs.0.1 cr) (0%) Liquid Detergent (Rs.27.2 cr) (21%) Hair Colours (Rs.30.1 cr) (23%) Toiletries (Rs. 5.7 cr) (4%) By-Products (Rs.2.8 cr) (2%)

15. Godrej Consumer Products Limited Q3 2003-04 Performance Update Category-wise Turnover 9M Rs Crore 9M 03-049M 02-03 Growth % Turnover (net of Excise) 9M 03-04 9M 02-03 Growth % Toilet Soaps209.9192.6 9% Hair Colours 86.9 85.1 2% Liquid Detergents 31.2 29.7 5% Toiletries 19.5 22.4 (13%) Total Godrej Brands 347.5 329.8 5% Contract Mfg 8.6 17.5(51%) By-Products 11.5 15.1 (24%) Total Sales 367.6 362.4 1%

16. Godrej Consumer Products Limited Q3 2003-04 Performance Update Sales-Mix 9M - 2003-04 Godrej Brand Toilet Soaps (Rs.209.9 cr) (58%) Contract Mfg (Rs.8.6 cr) (2%) Liquid Detergent (Rs.31.2 cr) (8%) Hair Colours (Rs.86.9 cr) (24%) Toiletries (Rs.19.5 cr) (5%) By-Products (Rs.11.5 cr) (3%)

17. Godrej Consumer Products Limited Q3 2003-04 Performance Update Financials

18. Godrej Consumer Products Limited Q3 2003-04 Performance Update Summarised Profit & Loss Account Rs Crore Q3 03-04 Q3 02-03 9M 03-04 9M 02-03 Q3 03-04 Q3 02-03 9M 03-04 9M 02-03 Sales (Net of Excise)128.3 128.9 (1%) 367.6 362.4 1% - Godrej Brands125.4 121.2 3% 347.5 329.8 5% - Contract Mfg 0.1 4.6 8.6 17.5 - By-products 2.8 3.1 11.5 15.1 Processing charges 0.0 0.32.0 5.7 Other Income 0.2 0.20.8 0.7 Expenditure 102.7 106.7 306.9 303.1 PBDIT 25.8 22.7 14% 63.5 65.7 (3%) Depreciation 2.4 2.3 7.0 6.8 Interest 0.7 1.0 1.8 2.5 PBT 22.7 19.4 17% 54.7 56.5 (3%) PAT 17.9 14.8 21% 45.6 41.6 10%

19. Godrej Consumer Products Limited Q3 2003-04 Performance Update Balance Sheet Balance Sheet Liabilities Assets 31-12-03 30-9-03 31-12-03 30-09-03 Equity Capital 22.8 22.8 Net Fixed Assets 97.890.2 Reserves 34.0 30.8 Cash & Bank Bal 6.414.2 Debt 17.4 18.3 Investments 9.2 0.0 Def Tax Liability 5.9 5.2 Net Current Assets (33.3) (27.3) Dividend payable 0.0 0.0 Total 80.1 77.1 Rs.Crore

20. Godrej Consumer Products Limited Q3 2003-04 Performance Update Rs Crore Q3 03-04 9M 03-04 SOURCES Internal Accruals 20.3 52.6 Total 20.3 52.6 APPLICATION Debt 0.9 0.5 Capital Expenditure 10.0 16.9 W.Capital change (6.7) (16.6) Change in cash & investments 1.4 4.4 Shares Buyback 1.9 8.7 Dividend 12.8 38.7 Total 20.3 52.6 Funds Flow Funds Flow

21. Godrej Consumer Products Limited Q3 2003-04 Performance Update Cost Structure (Q3 2003-04) Rs.Crore Rs Crore Q3 ’03-04 %of Sales Q3 ’02-03%of sales Materials cost 54.842.7% 63.048.9% Staff Cost 6.6 5.1% 7.4 5.7% Advtg & Sales Promotion 17.413.6% 16.012.4% Other Expenditure 24.018.7% 20.315.7% Interest & Financial Charges 0.7 0.5% 1.0 0.8% Depreciation 2.4 1.9% 2.3 1.8% Provision for Taxation 4.8 3.7% 4.6 3.6% PAT 17.914.0% 14.8 11.5% Sales 128.3 100.0% 128.9 100.0% Processing charges 0.0 0.0% 0.3 0.2% Other Income 0.2 0.2% 0.2 0.2%

22. Godrej Consumer Products Limited Q3 2003-04 Performance Update Cost Structure (9M 2003-04) Rs.Crore Rs Crore 9M ’03-04 %of Sales 9M ’02-03%of sales Materials cost 178.248.5%171.0 47.2% Staff Cost 18.5 5.0% 19.9 5.5% Advtg & Sales Promotion 39.510.7% 44.7 12.3% Other Expenditure 70.819.3% 67.5 18.6% Interest & Financial Charges 1.8 0.5% 2.5 0.7% Depreciation 7.0 1.9% 6.8 1.9% Provision for Taxation 9.1 2.5% 14.9 4.1% PAT 45.612.4% 41.6 11.5% Sales 367.6 100.0% 362.4 100.0% Processing charges 2.0 0.5% 5.7 1.6% Other Income 0.8 0.2% 0.7 0.2%

23. Godrej Consumer Products Limited Q3 2003-04 Performance Update Key Ratios Q3 03-04Q3 02-03 9M 03-04 9M 02-03 PBDIT / Sales 20.1% 17.6% 17.3%18.1% PBT / Sales 17.7% 15.0% 14.9%15.6% PAT / Sales 14.0% 11.5% 12.4%11.5%

24. Godrej Consumer Products Limited Q3 2003-04 Performance Update Key Ratios contd.. Q3 03-04 Q3 02-03 9M 03-04 9M 02-03 NWC / Sales (days) (23) (11) (24)(12) Fixed Asset T/o Ratio 5.2 5.8 5.0 5.4 Total Asset T/o Ratio 6.4 6.1 6.1 5.7 ROCE* 116.8% 95.8% 94.2% 92.2% RONW* 126.3% 95.8% 107.1% 89.8% EPS (on Rs 4 Share) 12.6 10.2 10.6 9.5 All figures are annualised * On closing Capital Employed & Closing Networth

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