Thursday, May 27, 2010

Godrej Industries observed rise in net profit plans to invest in chemical business

On May 26, 2010, Godrej Industries Ltd. posted a consolidated net profit of Rs.2.03 billion for FY 2009-10 against Rs.1.1147 billion on a year-over-year basis.

Consolidated net sales rose to Rs 34.14 billion crore from Rs 33.61 billion.

The group’s total income stood at Rs. 36.75 billion against Rs. 35.06 billlion in FY 2008-09.

On standalone basis, the company posted a net profit of Rs. 809 million for 2009-2010, which is a four fold increase compared to Rs. 180.8 million profit posted in the previous fiscal year.

On May 26, 2010, on BSE, share prices of Godrej increased 2.25% at Rs. 147.95

The group is now planning to invest Rs. 1.5 billion in the next three years to increase the capacity of its chemical manufacturing plants.

Adi Godrej, Chairman, Godrej Industries told Reuters that his company would build manufacturing plants for oleochemicals which is made from vegetable oils used in various industries.

In an interview with Money, Adi Godrej said that all the businesses of the Godrej Group did very well in the last fiscal year. Godrej Properties, Godrej Consumer Products did very well. Profit of both these companies almost doubled to 96%. Godrej Agrovet, which has businesses in animal feed, oil palm plantations, agrochemicals and poultry, and has a presence in 21 states, also did very well. Overall, the group’s consolidate profit rose to 82%.

Mr. Godrej also informed that Godrej Group is not going to list any more companies in near future.

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