1 I Godrej Industries Limited I Q3 & 9M FY2010 I Jan-25-2010

2 I Godrej Industries Limited I Q3 & 9M FY 2010 I Jan-25-2010

Q3 & 9M FY2010 INVESTOR UPDATE25th January 2010


CONTENTS• Key Corporate & Business Updates• Consolidated Results

• Financial Overview• Balance Sheet

• Business Structure• Economic Interests /Investments• Performance highlights – Subsidiaries, JVs and Associates


KEY CORPORATE & BUSINESS HIGHLIGHTS


• Godrej Properties Limited successfully completed its IPO in Dec 2009.

• Issue Size: 94.3 lac shares. Issue subscribed about 3.6 times.

• Priced at Rs. 490 per share of face value Rs. 10.

• Shares listed on BSE and NSE on Jan. 5, 2010.

• Godrej Consumer Products Limited completed acquisition of 49% stake in Godrej Sara Lee Limited .

• Godrej Consumer Products Limited enters into the hand hygiene segment.

• Hand washes, sanitizers and wipes launched under the “Protekt” brand.

Corporate Social Responsibility

• Godrej Brighter Horizons Expedition

• Initiative with disability activist Salil Chaturvedi to create awareness about inclusive growth policies and disability rights.

• In November 2009, Mr. Adi Godrej, Chairman, Godrej Group flagged off “Godrej Brighter Horizons Expedition“ at INWTC, the Naval sailing centre in Colaba to support Salil Chaturvedi, a spirited individual and activist, who sailed from Mumbai to Goa despite being paralyzed from waist down.

• Comments of Mr. Adi Godrej on the occasion:

“We are very pleased to associate with Salil for Godrej Brighter Horizons Expedition. It is great to see him endeavour to accomplish such a feat even despite his disability. As a group, we have always believed in creating an enabling environment for meritorious individuals who face social or physical challenges”

• GIL has contributed and supported various causes and initiatives in the areas such as health, medical care and treatment, education, social awareness on health, environment and social welfare.

CORPORATE HIGHLIGHTS


CONSOLIDATED RESULTS


Q3 & 9M FY2009 HIGHLIGHTS(CONSOLIDATED)

Particulars Q3 FY2010Q3 FY2010 Q3 FY2009Q3 FY2009 % Shift 9M FY20109M FY2010 9M FY20099M FY2009 % Shift

Total Income # 910 843 8% 2615 2675 (2)%

PBDIT * 63 39 64% 220 200 10%

Depreciation 12 13 37 36

Interest 23 26 67 67

PBT * 28 0 ^ 14853% 116 97 20%

PAT 44 5 769% 127 77 64%

* Incl. exceptional items but excl. prior period and extraordinary items

# Incl. other income and exceptional items.

^ Less than Rs. 0.5 crore

Rs. Crore


BALANCE SHEET (CONSOLIDATED)

Liabilities Assets

31-12-09 30-09-09 31-12-09 30-09-09

Capital* 336 165 Net Fixed Assets** 972 953

Reserves 1704 1395 Investments 1016 741

Debt 1576 1737 Net Current Assets 1575 1585

Def. Tax Liability 48 54 Cash & Bank bals. 101 72

Total 3664 3351 Total 3664 3351

Rs. Crore

* Capital includes Minority Interest** Net Fixed Assets includes Goodwill on Consolidation


KEY RATIOS (CONSOLIDATED)

* On Average Capital Employed ** Incl. exceptional items but excl. prior period and extraordinary items

Q3 FY2010(%)

Q3 FY2009(%)

9M FY2010 (%)

9M FY2009(%)

PBDIT Margins 6.9% 4.6% 8.4% 7.5%

PBT Margins ** 3.1% 0.0% 4.4% 3.6%

PAT Margins 4.8% 0.6% 4.9% 2.9%

ROCE* 5.8% 3.4% 7.2% 7.7%


SEGMENT-WISE CONTRIBUTION TO FINANCIALS– Q3 FY2010

195

292159

36

38

138

52

Revenue (Rs. crore)

CHEMICALS ANIMAL FEEDs VEGO ILS ESTATE & PRO PERTY DEVELO PMENTBEVERAGES & FO O DS FINANCE & INVESTMENTSO THERS (INCL. HO USEHO LD INSECTICIDES)

PBIT

Particulars Rs. crore

Estate & Property development 26

Finance & Investments 26

Chemicals 6

Animal Feeds 10

Beverages & Foods (3)

Veg Oils 0 ^

Others (incl. Household Insecticides)

15

^ less than Rs. 0.5 crore


571

832406

118

83

425

180

CHEMICALS ANIMAL FEEDs VEGO ILS ESTATE & PRO PERTY DEVELO PMENTBEVERAGES & FO O DS FINANCE & INVESTMENTSO THERS (INCL. HO USEHO LD INSECTICIDES)

Revenue (Rs. crore) PBIT

Particulars Rs. crore

Estate & Property development 102

Finance & Investments 70

Chemicals 36

Animal Feeds 25

Beverages & Foods (7)

Veg Oils (1)

Others (incl. Household Insecticides)

56

SEGMENT-WISE CONTRIBUTION TO FINANCIALS– 9M FY2010


BUSINESS STRUCTURE(as on 31st Dec., 2009)

GIL

Own business

Chemicals, Estate Mgmt. Veg Oils, Finance & Invt.

Shareholding

%

Godrej Agrovet

75.2%

Godrej Consumer Products

24.2%

Godrej Hershey43.4%

Godrej Properties

69.4%

Nutrine Confectionery

100%

Golden Feed

Products

100%

Other Investments

Godrej Sara Lee Ltd. Keyline, Rapidol,Godrej Hygiene

GGME

Various SPVs

Godrej Oil Palm

80%

Cauvery Oil Palm

90%

JVsGodrej Tyson Foods ACI Godrej AgrovetGodrej IJM Palm oil

Godrej Goldcoin Aquafeed


PERFORMANCE HIGHLIGHTSMAJOR SUBSIDIARIES,JVS AND ASSOCIATES


INVESTMENTS AS ON DECEMBER 31, 2009Company Business Investment at

cost (Rs. Crore)

Holding(%)

Godrej Consumer Products FMCG, Personal and Household Care Products 528 24.2

Godrej Properties Real Estate and Property Development 185 69.4

Godrej Agrovet Animal Feed, Agri-inputs, Poultry & Oil Palm 163 75.2

Godrej Hershey Food, Beverages and Confectionery 177 43.4

Godrej International International Trading 17 100.0Others (CBay, Avesthagen, Verseon, Compass etc) Medical Transcription, Bio- Technology, KPO, BPO, etc. 93 -

Total 1163 -


Overview: The Chemicals division is the market leader in India in Oleo – Chemicals and Surfactants. It exports to about 67 countries and supplies to a wide range of industries including personal care, rubber, plastic , pharmaceuticals, etc.

Financial Performance -

PBIT for Q3 FY 2009-10 is Rs. 6 cr. as against Rs (24) cr. in Q3 FY 2008-09.

PBIT for 9M FY 2009-10 is Rs. 36 cr. as against Rs (11) cr. in 9M FY 2008-09.

Key Highlights –

• The business / industry has overcome the global recessionary impact which affected this division’s performance last year. Stability in the global environment has resulted in exports picking up steam and the business giving better returns this quarter and 9 months.

• Specialty Fatty Acids business

• Revenue for Q3 FY 2009-10 has gone up by 11% over the previous quarter.

• Revenue for 9M FY 2009-10 has gone up by 29% over the previous period.

• Surfactant business

• Revenue for Q3 FY 2009-10 has gone up by 15% over the previous quarter.

• Revenue for 9M FY 2009-10 has gone up by 79% over the previous period.

• Exports in Q3 FY 2009-10 has gone up by 21% over the previous quarter.

• 9M FY 2009-10 Exports account for 37% of the Division’s turnover.

GODREJ CHEMICALS DIVISION (OLEO-CHEMICALS & SURFACTANT)


Overview: Diversified agribusiness conglomerate including animal feeds, oil palm plantation, poultry and agricultural inputs.

Financial PerformanceConsolidated total income growth for 9 Months 2009-10 increased by 11% from Rs. 1100 crore to Rs. 1223 crore.

Animal FeedGAVL is the leading manufacturer of animal feeds in India.

Key Highlights -• This business includes the production and sale of compound feed for cattle, poultry, shrimp and fish. • GAVL operates through 40 production units across India.• This business undertakes R&D at its dedicated centre in Bangalore. Innovative animal feed products include

“Godrej Crumbro” and “Godrej Bypro”.• Revenue for Q3 and 9M FY 2009-10 has increased by 15% & 16% respectively over the corresponding period

last year.New products :

• Cattle Feed Concentrate launched in North India under the Brand Name of “MOO Magimix” for cows & Buffaloes

Agri InputsGAVL has a well established Agri inputs business covering plant growth promoters, organic manure mix, pesticides

and other innovative agri input products.

• Revenue for Q3 and 9M FY 2009-10 has increased by 17% & 18% respectively over the corresponding period last year.

GODREJ AGROVET (GAVL)(ANIMAL FEEDS, AGRI INPUTS, POULTRY & OIL PALM)


GODREJ AGROVET (GAVL)(ANIMAL FEEDS, AGRI INPUTS, POULTRY & OIL PALM)

Poultry: GAVL has a fully integrated poultry business that covers the entire value chain from breeding, hatching, and rearing of broilers. GAVL is also involved in a joint venture with Tyson foods which focuses on the front end of the production process including processing and marketing chilled chicken. This is delivered through the brand “ Godrej Real Good Chicken” and marketing of ready to cook range through the brand “Godrej Yummiez”.

Yummiez Dinoz Veg Nuggets –Launched in November 2009

Yummiez Dinoz Veg Nuggets have the goodness of five vegetable a perfect quick fix snack for kids, home parties or any other occasion. The nuggets can swim in the yummy tomato ketchup or build a jungle with cabbage and carrots.

Yummiez Dinoz Non Veg Nuggets –Launched in November 2009

Yummiez Dinoz chicken Nuggets are made from tender fresh Real Good Chicken a perfect quick fix snack for kids, home parties or any other occasion.


Oil Palm: GAVL along with its subsidiaries and JV’s are India’s largest crude palm oil producer. The Oil Palm business

operates on a command area model, with State Governments allocating specific territories to corporates for the

development of oil palm plantations. Growers are required to sell the entire production of Fresh Fruit Bunches (FFB) at a

pre-determined price linked to output price set by the Government.

Highlights:

• Currently GAVL & its subsidiaries/JV’s have been allocated territories with a potential of over 200,000 hectares

of palm plantations. GAVL & its subsidiaries/JV’s also have operations in Andhra Pradesh, Goa, Gujarat,

Mizoram, Orissa, Tamil Nadu, and Karnataka. Total area under cultivation is about 34,400 hectares of which

about 10,000 hectares are bearing fruits and about 24,400 hectares are under growing stage.

• Additional area brought under cultivation during 9 Months FY 2009-10 is about 3,700 hectares.

• The size of the allotments reflects the strengths of Godrej, including a strong brand, reputation amongst farmers

and excellent service.

• An integrated process: Complete use of the fruit bunch is made. Waste from the oil extraction process is used

as fuel to power plants and factories.

• Oil palm plantations have a three year gestation period. Currently multiple projects have been initiated and are

at different stages of development. As greater acreage under development achieves production maturity, the

business is expected to grow exponentially.

GODREJ AGROVET (GAVL) (CONTD…)(ANIMAL FEEDS, AGRI INPUTS, POULTRY & OIL PALM)


Overview: One of the leading companies in the Indian FMCG market with presence in the personal and household care products. It is also one of the largest marketers of toilet soaps in the country with leading brands such as Cinthol, Godrej Fairglow and Godrej No. 1.

Key Highlights:

• Continues to be the second largest toilet soaps player with a market share of 10.3% for Q3 FY 2009-10.

Financial Performance:

• Consolidated Revenue for Q3 FY 2009-10 increased by 53% to Rs. 518 crore from Rs. 338 crore.

• Consolidated Revenue for 9M FY 2009-10 increased by 46% to Rs. 1532 crore from Rs. 1049 crore.

• Consolidated PBDIT for Q3 FY 2009-10 up by 131% at Rs. 102 crore from Rs.44 crore

• Consolidated PBDIT for 9M FY 2009-10 up by 116% at Rs. 302 crore

• Consolidated PBT for Q3 FY 2009-10 grew by 115% at Rs. 105 crore from Rs. 49 crore.

• Consolidated PBT for 9M FY 2009-10 grew by 120% at Rs. 309 crore from Rs. 140 crore.

• Consolidated PAT for Q3 FY 2009-10 increased by 112% to Rs. 85 crore from Rs. 40 crore.

• Consolidated PAT for 9M FY 2009-10 increased by 118% to Rs. 248 crore from Rs. 114 crore.

• Third interim dividend – Re. 1 per share (i.e. 100%) totalling to 300% for FY 2009-10.

GODREJ CONSUMER PRODUCTS (GCPL) (CONTD…)(FMCG – PERSONAL AND HOUSEHOLD CARE)


New Launches / Initiatives:

• Forays into the Hand Hygiene category with the launch of “Godrej Protekt” – Hand Sanitizers, Hand Wash & Wipes.

• “Godrej Protekt” instant hand sanitizer integrates the “ Insta sanitize technology” that kills 99.99 % of the most common illness causing germs in 15 seconds.

• Available in three variants - Original, Citrus and Blossom.

• Launched new variant moisturising soap with milk cream and almond under brand “Godrej No. 1”.

• this variant offers consumers beautiful, moisturised and soft skin during winters.

• “Cinthol” skin protection talc launched in South India.

• Launched additional shades of “ Godrej Renew “ - Plum Crazy and Wine Red .

• International business grew by 26% in Q3 FY 2009-10.

• launched “Evolution” range of hair pieces to address the mass market segment

• Introduced “Godrej No. 1” soap in South Africa.

• launched Nupur Mehendi in GCC countries with good response.

• Introduced Cuticura Hand Hygiene products in Lebanon

• launched 2 new colours in the “Inecto” range

GODREJ CONSUMER PRODUCTS (GCPL)(FMCG – PERSONAL AND HOUSEHOLD CARE)


Overview: GPL is one of the leading real estate development companies in India. The Company focuses on residential, commercial and township developments. GPL has real estate development projects in various cities in India like Mumbai, Pune, Bangalore, Kolkata, Hyderabad, Chandigarh, Ahmedabad, Mangalore, Chennai and Kochi.

Business Strategy :

• Enhance and leverage the Godrej brand in land sourcing, market expansion and relationship building.

• Optimize resources through consistent utilization of an effective development model:

• Joint ventures with land owners which are either on a developable area, profit or revenue sharing basis.

• Selective buying of land, developing and selling property.

• Joint ventures with group companies.

This business model enables GPL to undertake more projects without having to invest large amounts of money

towards purchasing of land.

• Maintain presence in metros and upcoming centers.

• Focus on timely execution of projects.

• Concentrate on sustainable development.

GIL currently holds 69.43% equity in GPL.

GODREJ PROPERTIES (GPL) (REAL ESTATE AND PROPERTY DEVELOPMENT)


Business Highlights: • Entered into MOU with Godrej & Boyce and Godrej Industries Limited for development of land at Vikhroli.

• Launched Project at Kolkata named Godrej Prakriti.• Primarily residential complex with affordable and well designed modern apartments.

• Complex is adorned with lush greenery and well-conserved water bodies. Hoogly river’s presence enhances the closeness with nature.

• Launched Commercial Project at Chandigarh named Godrej Eternia.• One amongst Chandigarh first modern commercial buildings.

• Premium office and retail space located in Industrial and business park area central to the tricity of Chandigarh, Mohali and Panchkula.

• Project designed by world renowned Architects HBRA of Chicago, USA.

• Well diversified portfolio spread across established Tier I and emerging Tier II and III locations.

Financial Highlights:

• Successfully completed IPO which was subscribed 3.6 times; issued 94.3 lac equity shares at Rs. 490 per share of face value Rs. 10; raised about Rs. 470 crore.

• Consolidated revenue for Q3 FY 2009-10 increased by 15% compared to Q3 FY 2008-09.

• Consolidated PBT for Q3 FY 2009-10 grew by 518% compared to Q3 FY 2008-09.

• Consolidated PAT for Q3 2009-10 up by 829% compared to Q3 FY 2008-09.

• Consolidated PAT for 9M 2009-10 up by 15 % compared to 9M FY 2008-09.

GODREJ PROPERTIES (GPL)(REAL ESTATE AND PROPERTY DEVELOPMENT)


Overview: Production and sale of fruit pulp, tomato puree, fruit juices, nectars and drinks, other beverages and confectionery products and sale of refined vegetable oils and vanaspati (hydrogenated vegetable oil).

New Products launched / initiatives taken during the year:

• Nutrine Lollipop was relaunched during the quarter and received excellent response from trade and consumers.• Trade activation on Nutrine Éclair too yielded good results.

Financial performance:

• “Hershey Milk Mix” sales for Q3 FY 2009-10 grew by 140% against Q3 FY 2008-09.• “Hershey Milk Mix” sales for 9M FY 2009-10 grew by 102% against 9M FY 2008-09.• “Jumpin” sales for 9M FY 2009-10 increased by 15% against 9M FY 2008-09.• “Sofit” sales for Q3 FY 2009-10 higher by 4% against Q3 FY 2008-09.

GODREJ HERSHEY LIMITED (GHL) (FOODS, BEVERAGES, CONFECTIONERY BUSINESSES)


Thank You

Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operations include changes in industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations.

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