Research on India_Consumer Goods Sector in India Monthly Update_January 2012

Consumer Goods Sector in India

Monthly Update

January 2012

Top Story Government approves 100% FDI in single brand retail Government of India has relaxed FDI rules for the retail sector, allowing upto 100% FDI in single brand product retail trading. Following this policy, foreign Investors can now float and run wholly owned single brand retail stores in India. The conditions which need to be fulfilled under the investment norms include: Products should be sold under the same brand internationally, ‘Single Brand’ product retail trading should only cover products which are branded during manufacturing, the foreign investor should be the owner of the brand, for proposals involving FDI beyond 51 %, t least 30 % of the value of products sold should be sourced to ‘small aindustries/village and cottage industries, artisans and craftsmen.’ After the multi‐brand retail FDI complications, this news comes as a relief to the industry. This is also likely to bring investments and improve the infrastructure and job prospects of the Indian economy. In this way small and medium scale industries will also co‐exist along with the MNCs. This would enhance competitiveness of Indian enterprises through access to global design, technologies and management practices. News Update

General New products to be launched by CavinKare FMCG company, CavinKare is in the final stage of developing new products in the food and hair care segment. The company plans to focus on innovating new products and has finalized on launching two or three by FY 2014. It also plans to increase its popularity on the global platform by expanding its operations to Egypt, West Africa and the US. CavinKare has recently signed a marketing deal with Haw Par to distribute Tiger Balm in India. To strengthen its distribution channel for deodorants nd perfumes, it has ventured in marketing tie‐ups with international companies such aas Coty Inc and Adidas. CavinKare has a diversified brand portfolio which consists of shampoos (Chik, Meera, and Nyle), fairness creams (Fairever), deodorants and talc (Spinz and Hi5), pickles and snacks (Ruchi, Chinni’s), hair colour (Indica), beverages (Maa), dairy (Cavins), restaurants (CK’s Foodstaurant and Vegnation) and beauty salons (Green Trends and Limelite). The company has six well equipped manufacturing units, including one in Sri Lanka, and a research and development centre in Chennai.

Consumer Goods – Monthly Update

Havells enters JV with Chinese Company Havells India has entered into a 50:50 joint venture worth INR 2.56 bn with a Chinese company to make lighting products for its fully owned subsidiary Sylvania. The company aspires to grow by leveraging on the technology and manufacturing strengths of its new partner. The new arrangements have helped the company to source lighting products at a lower cost and further boost its profitability. The joint enture is expected to commercialize operations by April 2012 and is targeting full vscale output by November. Havells has a wide portfolio of products spread across 40 countries and is gradually expanding in West Asia and Africa. Sylvania contributes half of Havells’ consolidated evenue. It expects to generate revenue of INR 4.673 bn in the next three years while aintaining the 7.4 % operating margin it reported in the first half of FY 2012.

rm Dubaibased company opening kidswear stores in India Fine Fair Group, the Dubai based company dealing in branded children’s apparel, is planning to open at least 50 outlets in India by 2015. These outlets will be opened under the company’s own label, ‘Kair’. Out of the 50 stores, 20 will be in South India. The company is investing INR 1 bn for the stores and construction has already begun in 3 cities in Kerala. Other cities where the company wants to set up stores include angalore, Chennai, Hyderabad, Delhi, and Mumbai. The plan is to first set up Bexclusive brand outlets and later on go for shop‐in‐shops. The company has been operating in the Middle East since 14 years and plans to have over 200 stores across the world by 2020. The company believes that there is a big supply and demand gap in India’s apparel industry and has the potential of being a ery big market. At present, the company operates a manufacturing facility in India at irupur and plans to set up other facilities as well. vT Alberto Torresi bullish on Indian market Agra based Virola International will invest more than INR 35 mn over the next two years to consolidate and strengthen its footwear brand, Alberto Torresi in India. The fund will be utilised for various purposes such as technological innovation and adoption, increasing production capacity, retail expansion — both physical and digital, marketing and brand building activities. The investment will be raised through nternal accruals and can also increase depending upon the need of the market. It also lans to launch its ladies collection very soon. ip


HarleyDavidson expands its CKD product portfolio Harley‐Davidson has geared the enhancement of their complete knock down (CKD) product line. FXDB Street Bob a classic bobber which was earlier priced at INR 1.394 mn, ex‐showroom will now be available at INR 0.995 mn. In addition, Harley‐Davidson FXDC Super Glide Custom will retail at INR 1.15 mn, ex‐showroom against INR 1.545 mn last year.

Over the last two years, the company has strategically invested to boost its product portfolio in India. The company currently has dealership in seven cities across India. t also plans to expand their dealership in other cities such as Kolkata, Kochi and aipur. IJ Himalaya Optical introduces Flippers collection Himalaya Optical has launched its Flippers collection, designed for both men and women. Flippers is from the house of French designer, D Style and is available in different colours, shapes and sizes. The collection gets its name from its feature of "flipping" the temple of the frame that allows one to get a new look, without changing he frame. Its price starts from INR 2490 and is available in any Himalaya Optical tore across India. ts Tara Jewels files IPO papers for second time Tara Jewels has filed the draft red herring prospectus with SEBI to raise INR 2200 mn. The funds will be raised through a fresh issue of INR 1500 mn and an offer for sale worth INR 700 mn by Fabrikant H.K Trading. The company is also considering a pre PO placement of 1.8 mn shares aggregating upto INR 500 mn. Enam Securities and IICICI Securities have been appointed as the book reading lead managers to the issue. The fresh issue will be utilized to invest INR 663 mn for establishing retail stores and repay or prepay loans worth INR 500 mn. Hong Kong based Fabrikant H.K. Trading is an an affiliate of M. Fabrikant & Sons. The company engages in trading of loose diamond and precious stone jewelry to Far East and Europe. It exports its products to retailers across the USA, Europe, Australia, China, Japan, South Africa and Canada. It urrently has 29 stores across India and intends to launch 20 new stores by December 012. c2 Volkswagen on an expansion drive Volkswagon AG is looking for capacity expansion in India to suffice the emerging emand for vehicles. Additionally, it also plans to manufacture its new car Up! in the dsmall car segment in the country. The capacity expansion drive features in the company’s strategy to garner an 8‐10% market share in the Indian car market by 2018. The concern with Skoda Auto a.s. and Audi AG, two other of the group’s brands, will be investing INR 20 bn by mid 2015. The coalesced investment is processed in a bid to enhance their activities within the country including after‐sales service like warehousing and spare parts. They are not only contemplating capacity expansion at its existing plant but also delving into capacity addition at a new plant. As for manufacturing of the new car Up! is concerned, the concern needs to implement certain changes in the form of raising round clearance, creating additional luggage space and increasing passenger seating apacity. gc


Evok opens a new store in Jaipur Evok Mega Home Store recently inaugurated its new home interior store in Jaipur. The store is located at Tonk Road and is spread over 10,000 sq. ft. The store has over 16,000 lifestyle products across segments such as home furniture, soft furnishings, home decor and accessories, modular kitchens, bath fittings and lightings. The ompany also plans to open more than 50 franchise and company‐owned outlets by 014. It would primarily target Tier I and II cities for expansion. c2 Bata looking to expand its international product portfolio Bata India is considering expansion plans to diversify its international product portfolio in India. Utilizing the opportunities that multi‐brand retailing provides, the company is looking to introduce global brands like Hush Puppies. Although Bata India has license to manufacture and market Hush Puppies’ products in India, it aims to stablish a chain of exclusive stores across the country targeting the premium esegment of the market. After obtaining license from its parent company, Bata had recently launched exclusive Footin’ stores which provide casual footwear for men and women. It targets to set up 00 Footin stores across the country by 2014. ‘2 Timex launches new fitness watches Timex Group India has launched dubbed Heart Rate Monitor (HRM) watches specially designed for fitness‐conscious and sports enthusiasts. These watches can track calories burned during an exercise along with the heartbeat count of a person. The watch comes for a price of INR 3,995. It also has unique additional features such as water resistance up to 50 meters, Indiglo night light, month/date display and a two‐ear average battery life. The company had launched these watches coinciding with ythe Airtel half marathon to attract sports enthusiasts. Timex’s product portfolio consists of 7 popular brands namely, Timex, Salvatore Ferragamo, Marc Ecko, Versace, Nautica, Tarun Tahiliani and Helix. According to the company estimates, Tarun Tahiliani, Versace and Helix have been the most successful recent launches. It also plans to include more international brands within the premium and luxury watch segments. Tribhovandas Bhimji Zaveri Limited bags award for campaign Tribhovandas Bhimji Zaveri has bagged ‘GJF’s National Jewellery Award' for the Best Advertising Campaign of the Year – Print category. The company’s wedding campaign won the Gems & Jewellery awards given by the All India Gems & Jewellery Trade Federation (GJF). The Gems & Jewellery awards are presented for various attributes overing 31 categories. The ad campaign aimed to attract wedding buyers during edding season and attract customers by showcasing different regional brides

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GJEPC establishes Gem & Jewellery Skill Council of India The Gem & Jewellery Export Promotion Council (GJEPC) has formed the Gem & Jewellery Skill Council of India (GJSCI). The council will work under the guidance of NSDC and will function as a joint venture between the GJEPC, Gem & Jewellery Federation (GJF), Seepz Gems and Jewellery Manufacturers' Association (SGJMA) & Jewellers Association of Jaipur (JJA). This initiative aims to enhancing skills of artisans and train 4.07 mn people by 2022. GJSCI will function under a 13 member governing council comprising of 5 directors nominated by GJEPC, 4 by GJF, 1 each by SGJMA and JJA and 2 government nominees. ReeBonn enters Indian cosmetics market ReeBonn Cosmetics India (Pvt) has entered the Indian cosmetic segment by launching personal care products which cater to the emerging consumer demands. It primarily lans to launch a selected range fast moving products in Tamil Nadu, Puducherry and pBangalore. ReeBonn is a global cosmetic brand marketed in several Asian & Middle East countries which offers wide range of range of personal care products. Currently it product portfolio consists of ReeBonn facewash ranges (Green Apple – Soft and Cool, Carrot – Soft and Fair, Papaya – Soft and Glowing, Turmeric – Soft and Healthy, Neem and Lemon Extracts – Anti Acne, Aloe Vera – Soft and Supple, Cucumber – Soft and Fresh). ReeBonn beauty soaps (Mushroom and Rose Oil Herbal Creamy Soap, Papaya Herbal Creamy Soap). ReeBonn fairness cream (natural vitamins and sunscreen complex). ReeBonn range of talcum powders ( Rose, Gardenia, Jasmine). ReeBonn ange of shampoos (Amla – Strong and Long, Aloe Vera – dry & damaged, King oconut – Soft and Silky, Tea Tree Oil – anti‐dandruff and healthy) rC Chalk and Chuckles launches educational toys Chalk and Chuckles launched its first collection of innovative educational toys and games that help make learning faster. These toys are targeted for children above the age of 3 years, and help to sharpen their visual and creative skills. Its collection consists of 12 products which range between INR 99 – 799. Apart from website, the collection is currently available in Mumbai, New Delhi and Bangalore. Chalk and Chuckles practices research in the areas of child development and product design which enable them to create high quality educational toys. K.P.Namboodiri’s launches ayurvedic fairness cream K.P.Namboodiri’s recently launched a new ayurvedic turmeric fairness cream thereby adding another product in its skin care portfolio. The new cream is available in 25 gm


pack and costs INR 40. Its main ingredients consist of natural ayurvedic herbs and medicines which are anti‐oxidant in nature. K.P.Namboodiri’s has now expanded its reach to many states including Tamil Nadu, Karnataka, Maharashtra and Andhra Pradesh. The company plans to launch more products soon.

Jyothy Labs takes loan to refinance debt Jyothy Labs has raised around INR 5530 mn through a year loan from Axis Bank. The company will use these funds towards the partial repayment of the debt it took to acquire a controlling stake in the Indian unit of Henkel AG. Jyothy labs was initially lanning to refinance the debt through PE investments but had to revise its strategy powing to the poor market conditions. Jyothy Labs had raised short term debt from ICICI Bank, Kotak Mahindra Bank and Axis Bank to acquire 51% stake in Henkel India for INR 5700 mn in May 2011. It subsequently acquired 12.05% in Henkel India through an open offer. Henkel India and Jyothy Labs are both present in the home care, fabric care, dish washing soap, personal care and household cleaning segments. Jyothy Labs currently have 28 manufacturing facilities across 16 locations in India. Uniliver ready to expand Brylcreem brand in India Hindustan Uniliver (HUL) recently entered into an agreement for complete takeover of marketing, manufacturing and distributing activities for the hair cream brand – Brylcreem. This agreement would terminate the existing agreement between Godrej onsumer Products (GCP) and Uniliver to manufacture market and distribute CBrylcreem in India. This move would help HUL to expand its existing personal care portfolio in India. The company plans to add more products by launching a new range of Axe deodorant in hair care segment, Lynx fragrance for women and a natural certified product, Timotei rganic Delight. Following the complete acquisition of Concern Kalina, the company lso plans to establish its footprints in the Russian cosmetics market. Oa TTK exits modular kitchen business TTK Prestige recently announced its exit from the modular kitchen business. It took this decision on the account of quality issues and declining brand reputation. However it looks forward to launch premium kitchenware products, including a range f high‐end stainless steel and ceramic cookware and storage containers during April‐oJune 2012. The company has also tied up with US‐based World Kitchen in this regard. TTK Prestige currently has manufacturing facilities at Hosur, Coimbatore and Roorkee. It has also acquired land in Gujarat for setting a new manufacturing facility there. The company plans to increase its retail presence by adding 120 stores by the nd of next fiscal year. TTK had planned investments worth INR 2350 mn for the urrent fiscal year of which INR 1400 mn have been utilized for plant expansion. ec


Fetsie ready to expand Fetsie, a leading online male ‐ oriented shopping portal plans to add a warehouse in Bangalore over the next 6‐12 months. The company already has 2 warehouses situated in Delhi and Mumbai. It also plans to launch products under their own label


and increase its brand visibility through an online magazine. Recently, Fetsie had raised INR 250 mn through a venture capital firm – Seedfund for its expansion and marketing activities. Fetsie offers high – end luxury clothing and accessories which are available in a price range of INR 300 – 40,000. The website has 7.5 lakh registered users and receives 60,000 hits a day. The company earns monthly revenue of INR 20‐25 mn and handles over 500 transactions per day. Timex plans to makes India its global sourcing base US based Timex Groups’ subsidiary, Timex Group India is looking at the opportunities for making India a global sourcing base and to reduce its manufacturing costs. A team is currently studying the cost propositions associated with this project. The Indian company has also agreed that initial studies have shown positive viability for anufacturing facilities in the county. A crucial factor which hinders manufacturing m

set up in India is the lack of a well developed vendor base. Titan which retails through different formats such as the World of Titan, Helios and astrack, is also planning to expand its network. The World of Titan has 330 stores cross India and plans to add 25‐30 every year. Fa Bajaj Electricals expands its product portfolio Bajaj electrical has recently entered into the premium lighting segment by launching a new range of home decorative lighting and portable LED glow lanterns. These products have been launched under a new brand ‐ Bajaj Hyperion. Bajaj Electricals has six strategic business units ‐ engineering and projects, appliances, fans, lighting, luminaries and Morphy Richards brand. It expects that it would generate revenue of INR 4350 mn through the lighting segment in this current fiscal year. Eureka Forbes enters solarpowered products Eureka Forbes, a joint venture between the Forbes group and Electrolux plans to market solar energy products in India. These products are primarily targeted for the rural areas where power cuts are too frequent. These products will be sold under the EuroDiya brand and cost INR 600. It plans to sell these products along with its water filters and also establish tie‐ups with NGOs and local entrepreneurs for its distribution in rural areas. Eureka Forbes is known for its water purifiers and vacuum cleaners in India. The ompany also plans to spread its presence on an international platform by spreading ts operations in South East Asia, the Middle East and Africa. ci

News Update

Regulatory Precious metals becomes more expensive Government of India has increased import and excise duties on gold and silver on an ad valorem basis. The new duty structure is not fixed and depends upon the amount of purchase. Import duty has been hiked to 2% per 10 gm gold, 6% per 1 kg silver and 2% for diamonds. Similarly, excise duty has been hiked to 1.5% per 10 gm for gold nd 4% per kg for silver. This strategy would generate additional revenue of INR 5‐6 abn to the exchequer by this financial year. Earlier, the import and excise duty for gold were INR 300/10 gm and INR 200/10 gm, respectively. Silver attracted INR 1,500 per kg as import duty and INR 1,000 per kg as xcise. The industry believes that customers might restrict purchase for a momentary eriod but would resume investing in these commodities once the price stabilizes. ep News Update

Expansion Plans Bata looking to expand its online presence Bata India is planning to increase sales through its virtual retail chain by expanding its online presence. The 10 month old online format of Bata accounts for sale of nearly 1000 pairs of footwear presently. The company is targeting to increase this to 3000 pairs within a year. Almost 50% of the company’s orders come from the web and it is looking forward to exponential growth in this format. The company which has nearly 1200 retail stores across the country believes that it makes more sense for customers o order for shoes online when the required sizes are not available in these retail tstores. Bata India is amongst the few consumer goods companies in the country which has its own online format. The company also sells products from other brands such as Hush Puppies, Oxford Street, Reebok, Scholls and Marie Claire through its online store. E‐commerce sites like myntra.com, yebhi.com and bestylish.com specializing in multi‐brand retailing of footwear have done exceptionally well in the past few years and Bata is exploring opportunities to tie‐up with such sites in the future. Bata has already tied‐up with two sites, e‐bay.com and rediff.com for sale of footwears. The decision to tie‐up with other sites will be taken once policy prescription on multi‐brand retailing and other legal hurdles are cleared.


Bata India plans 70 global format stores in 2012 Bata India plans to open 70 flagship stores this year with special focus on tier II and III markets across the country. These stores are being designed by experienced designers and architects who have developed a layout using latest retail techniques. The design facilitates easy movement in different sections of the store and enhances product visibility. These new stores will have footwear collection across brands such s Bata, Hush Puppies, Marie Claire, Power, Comfit, Scholl, North Star and aWeinbrenner. Bata introduced more than 105 stores last year and currently has more than 1250 stores across India. It sells over 50 mn pairs of footwear every year and caters to over 1,50,000 customers everyday. Bajaj Electricals plans retail expansion Bajaj Electricals has planned to invest ~ INR 250 mn every year across its business segments to consolidate its position as market leader. Its main thrust in the lighting segment lies on the development of LED rechargeable lanterns, LED solar lanterns, and LED torches especially for rural areas. It has also diversified its product portfolio by adding products such as induction cookers, pressure cookers, gas stoves and chimneys. The company presently has 50,000 retailers selling appliances, 50,000 etailers in fans, and 400,000 retailers in lighting space. It plans to expand its retail istribution at about 10‐15% p.a. rd Orient Tiles eyes on expanding its retail network Orient Tiles is planning to expand its retail network in order to strengthen its market share in the organized tile industry. It plans to open more than 50 retail outlets in major cities such as Bangalore, Chennai, Mumbai, Kochi, Pune and Gurgaon. At the ame time, the company is also focusing on online marketing, and advertising on ssocial networking and real estate websites to enhance its brand visibility. At present, Orient Tiles have 30 franchise outlets and four company owned and managed concept stores known as Orient Tiles Boutiques. It has also created its imported product line from Spain, Italy and China with its newly established Orient International division. The brand has got into 75 new multi‐brand retail outlets through its Orient International imported range and anticipates to double it by January 2012. Brand Factory on an expansion drive Brand Factory, the retail chain of Future Group proposes to expand in major metros as well as in Tier II and III cities. The company plans to increase its outlet count to 35 over the next 12‐14 months. The proposed outlets will be spread across an area of 35,000 – 40,000 sq.ft. Brand Factory wishes to enhance its presence in cities such as Hyderabad, Pune, Bangalore, Kolkata, Ahmadabad, Coimbatore, Madurai and Mysore.


Brand factory outlets are based on discounted retail formats, where branded products are sold at 20‐50% discount rates. It offers 190‐200 brands across various product segments such as apparels, accessories and footwear. The company at present perates 18 such stores which witnesses around 250,000 visitors every week. It also ontributes around INR 4 bn to the total revenue of Future Group. oc Woodland expands presence in Karnataka Woodland plans to expand its footwear and apparel stores across Karnataka. It announced plans for setting 10‐15 stores in the city by the end of 2012 and has allocated INR 15 mn for establishing each store. It recently opened two stores in Hebbal and Marathahalli. The company considers South India to be strong independent market also plans to expand its brand visibility in small towns and cities such as Tumkur, Shimoga, Kundapur and Karwar. Woodland has around 350 company‐owned stores across the country. Presently the company already has a network of over 30 stores in Karnataka. During 2011, the company grew by 25% year on year in terms of sales. Kelme footwear enters India Kelme, a Spanish sportswear and lifestyle brand announced its entry in India on Wednesday. It opened its first store in West Delhi. The brand was bought through a licensing agreement by Global Overseas, an Indian company. The footwear ranges etween INR 2000 and INR 5000, while the apparel section has products ranging bfrom INR 500 to INR 2000. part from India, the company has also entered Brazil and Russia. It also plans to xpand its presence in cities such as Bangalore, Chennai and Chandigarh. Ae Clark opens new store in Hyderabad Clark, an eminent international brand has launched its third outlet in South India. The outlet is spread over 2,357 sq. ft, and is situated in Hyderabad. This has increased the total count to 14 stores spread across the nation. The new stores has is based on modern classic themes such as Brogue for men. The company plans to increase 100 s tores in the next five years by opening 20 exclusive stores every year.

Industry Expert Speak Additional import duties increase Gold and silver price – Rajiv Jain, Chairman, Gems & Jewellery Export Promotion Council “Domestic consumers would have to pay one per cent more due to an increase in the overall duty structure. Consumers, therefore, will refrain from buying for a while but will come back once prices stabilize”


Transaction Detail (November 2011 – January 2012)

Date Buyer Target Deal Size (INR mn) % stake Deal Status

Type of Transaction

1 v 4th No2011

Invida Group Pvt. Ltd.

Shalaks Pharmaceuticals

Pvt. Ltd. 1000 NA Completed M&A

1 v 5th No2011

Norwest Venture Partners, Intel Capital, Sequoia Capital India, Nokia Growth

Fashionandyou.com

2000 NA Completed Venture Funding

1 v 6th No2011

Nalanda Capital Pte Ltd

Havells India Ltd 1200‐1300 2.95% Completed Private Equity

3rd Jan 2012

SeedFund Fetise.com 250 NA Completed Venture Funding

5 th Dec2011

Aston Luxury Group Ltd.

Crown Aim Ltd. NA 100% Completed M&A

1 c 5th De2011

Blume Ventures Sports Nest Retail (India) Pvt. Ltd.

NA NA Completed Venture Funding

1 c 6th De2011

Sequoia Capital India

Free Culture Apparels Pvt. Ltd.

187 NA Completed Venture Funding

1 3th Jan2012

Future Venture Clarks Future Footwear Ltd.

12.5 NA Completed Venture Funding

2 3rd Jan2012

L'Oreal Lotus Herbals NA NA Pending Joint Venture

2 3rd Jan2012

Kajaria Ceramics Ltd.

Jaxx Vitrified Pvt. Ltd.

62.6 51 Completed M&A

2 3rd Jan2012

Godrej Consumer Products Ltd.

Cosmetica Nacional

NA 60% Completed M&A


Annual Financial Results – Revenue (INR mn)

Company FY ‘08 FY ‘09 FY ‘10 FY ‘11

Adidas AG 733,521.70 690,479.70 717,149.10 NA*

Akzo Nobel India Ltd. 9,387.10 9,001.00 9,471.00 10,968.00

Archies Ltd. 1,178.77 1,386.18 1,560.81 1,877.98

Asian Granito India Ltd. 2,428.60 3,329.30 4,075.50 5,041.40

Asian Paints Ltd. 44,100.50 54,664.50 66,832.90 77,086.40

Avon Products Inc. 510,774.80 473,623.30 484,535.20 NA*

Bajaj Electricals Ltd. 13,760.50 17,686.40 22,286.30 27,407.50

Bata India Ltd. 9,922.50 10,923.90 12,757.70 NA*

Beiersdorf AG 405,580.00 382,321.30 370,477.20 NA*

Bell Ceramics Limited 1,618.42 1,888.09 1,533.02 NA*

Berger Paints India Ltd. 14,109.30 16,403.10 19,060.70 23,458.70

Bloom Dekcor Ltd. 305.945 340.157 414.117 431.835

Cera Sanitaryware ltd 1,280.50 1,595.50 1,914.10 2,430.10

Classic Diamonds India Ltd. 7,104.40 6,772.20 6,517.20 5,023.20

Colgate Palmolive (India) Ltd. 15,206.10 17,512.40 20,209.20 22,892.00

Crompton Greaves Ltd. 68,720.10 87,372.60 91,408.70 100,051.10

Dabur India Ltd. 23,657.20 28,122.40 33,958.00 40,817.40

Emami Ltd. 6,180.30 7,489.30 10,217.10 12,590.00



Estee Lauder 339,693.70 352,824.10 361,998.00 393,807.00

Euro Ceramics Ltd. 2,873.70 2,629.50 2,360.40 4,169.30

Eveready Industries India Ltd. 8,471.70 8,573.30 11,041.60 10,728.50

FIEM Industries Ltd. 1,779.40 2,198.90 2,965.30 4,276.00

Finolex Cables Ltd. 13,837.70 13,415.10 16,187.20 20,357.50

Flawless Diamond (India) Ltd. 5,564.20 6,152.70 6,104.90 3,314.40

Gitanjali Gems Ltd. 48,357.50 50,906.90 65,277.80 94,593.70

Godrej Consumer Products Ltd. 11,039.80 13,969.10 20,436.90 36,460.80

Golkunda Diamonds & Jewellery Ltd. 597.659 559.746 816.398 1,020.71

Halonix Ltd. 3,566.50 3,840.60 4,369.40 4,187.80

Hanung Toys and Textiles Ltd 5,062.20 6,520.60 8,519.30 11,390.60

Havells India Ltd. 50,029.30 54,774.90 51,625.70 56,126.30

Henkel India Ltd 5,400.00 5,922.80 5,339.00 NA*

Hindustan Sanitaryware & Industries Ltd.

5,221.20 6,167.60 8,083.10 10,820.80

Hindustan Unilever Ltd. NA* 166,639.80 180,319.30 200,245.90

IFB Industries Ltd. 4,226.20 4,431.70 5,339.50 6,654.70

ITC Ltd. 146,591.00 165,561.40 191,358.70 222,736.60

Jenson & Nicholson India Ltd. 307.539 374.744 365.32 444.543

Johnson & Johnson 3,028,333.10 2,885,328.70 2,747,088.20 NA*

Jyothy Laboratories (JLL) 3,797.30 4,848.00 5,982.20 6,195.90



Kajaria Ceramics Ltd. 5,031.20 6,658.80 7,362.80 9,533.90

Kansai Nerolac Paints Ltd. 13,999.20 13,745.20 17,063.80 21,387.30

Karuturi Global Ltd. 3,955.30 4,485.50 5,401.10 6,436.70

L’Oreal SA 1,191,526.10 1,162,168.90 1,166,088.10 NA*

Liberty Shoes Ltd. 2,596.00 2,604.40 2,690.00 3,108.70

Mafatlal Industries Pvt. Ltd. 2,540.90 1,357.70 1,367.50 6,311.10

Marico Ltd. 19,050.40 23,884.20 26,607.60 31,283.10

MIC Electronics Ltd. 3,607.70 2,954.40 2,807.70 2,338.30

Mirza International 3,161.40 3,610.30 3,788.90 4,728.50

Murudeshwar Ceramics Limited 2,367.75 1,801.00 1,300.85 1,725.89

Nagarjuna Agri Tech Ltd. 23.658 22.047 19.159 16.882

Neha International Ltd. 286.547 490.253 560.003 871.117

Nestle india Ltd. 43,252.20 51,395.50 62,609.40 NA*

Nike Inc. 790,967.60 905,203.10 881,584.10 942,545.20

Nilkamal 8,151.20 9,513.30 10,950.00 13,182.50

Nitco Limited 6,418.70 6,675.10 4,515.60 7,134.90

Ok Play India Ltd 423.394 370.995 482.404 382.372

Omega Ag Seeds (Punjab) Ltd. 0.09 NA* 0.00 NA*

Orient Ceramics and Industries Ltd. 2,152.40 2,241.60 2,539.90 3,329.20

Pochiraju Industries Ltd. 356.17 357.635 433.354 554.395



Procter & Gamble Co 3,403,335.20 3,694,733.50 3,665,486.00 3,690,387.20

Rajesh Exports Ltd. 86,670.20 119,497.10 184,115.90 205,356.80

Raymond Ltd. 23,961.50 25,594.90 25,078.30 30,359.00

Reckitt Benckiser Group Plc 464,822.20 581,240.20 588,720.50 NA*

Regency Ceramics Limited 1,365.31 1,603.23 1,686.12 1,946.61

Relaxo Footwears Ltd. 3,072.30 4,092.60 5,569.00 6,904.60

Restile Ceramics Ltd. 318.149 369.288 438.73 287.145

Revlon Inc 65,468.60 60,142.70 58,941.00 NA*

S.Kumars Nationwide Ltd. 17,500.50 22,647.00 38,561.80 52,196.00

S.Kumars Unitexx ltd 35.162 41.371 29.525 38.105

Shalimar Paints Ltd. 3,000.10 3,317.30 3,668.90 4,057.70

Shantivijay Jewels Ltd. 723.044 723.395 611.937 717.396

Shrenuj & Co. Ltd 12,274.40 14,625.70 18,961.30 24,647.40

Siemens Ltd. 96,858.40 93,070.20 96,272.40 119,546.70

SIP Industries Ltd. 5.249 10.32 11.801 NA*

Skechers USA Inc. 70,154.90 66,742.00 89,720.10 NA*

Somany Ceramics Ltd. 3,307.30 4,462.50 5,423.10 7,162.40

Suashish Diamonds Ltd. 10,275.40 8,346.50 12,203.50 11,044.60

Su‐Raj Diamonds & Jewellery Ltd. 22,821.30 26,421.70 34,051.30 48,458.00

Surya Roshni Ltd. 12,723.70 14,890.80 17,954.90 23,105.40



Timex Group 1,314.64 1,301.08 1,355.85 1,725.70

Titan Industries Ltd. 29,983.60 38,326.40 46,771.60 65,329.70

TTK Prestige Ltd. 3,259.40 4,012.70 5,079.40 7,635.60

Vaibhav Gems Ltd. 7,643.10 6,003.50 3,432.10 5,372.10

Vintage Cards & Creations 34.089 20.748 9.227 NA*

VIP Industries Ltd. 5,735.30 5,651.70 6,449.60 7,589.90

White Diamond Industries Ltd. 52.759 NA* 74.133 158.61

Wipro Ltd. 197,428.00 255,837.00 271,115.00 309,535.00

*Change in financial year Annual Financial Results – Income (INR mn)


Adidas AG 43,607.80 16,295.90 33,913.60 NA*

Akzo Nobel India Ltd. 596.7 2,946.00 1,593.00 1,766.00

Archies Ltd. 82.022 (10.867) 88.021 108.274

Asian Granito India Ltd. 296.00 250.10 190.40 200.90

Asian Paints Ltd. 4,091.80 3,978.40 8,356.40 8,432.40

Avon Products Inc. 42,548.80 29,043.40 27,044.00 NA*

Bajaj Electricals Ltd. 731 891.3 1,171.00 1,437.90

Bata India Ltd. 590.6 625.8 883.7 NA*



Beiersdorf AG 38,173.80 24,876.20 19,020.30 NA*

Bell Ceramics Limited (218.243) 3.33 (63.733) NA*

Berger Paints India Ltd. 930.3 828.4 1,203.90 1,500.90

Bloom Dekcor Ltd. 0.043 3.094 10.151 (5.635)

Cera Sanitaryware ltd 100.5 131.1 196.1 265.4

Classic Diamonds India Ltd. 311.5 35.7 174.2 60

Colgate Palmolive (India) Ltd. 2,357.60 2,857.80 4,232.60 4,025.80

Crompton Greaves Ltd. 4,067.20 5,599.00 8,598.70 8,886.70

Dabur India Ltd. 3,331.30 3,905.00 5,010.80 5,685.70

Emami Ltd. 901.9 918.6 1,697.30 2,287.20

Estee Lauder 20,345.20 10,521.40 22,209.90 31,325.80

Euro Ceramics Ltd. 314.4 (301.6) (414.7) 285.7

Eveready Industries India Ltd. (193.2) 194 1,272.30 (139.5)

FIEM Industries Ltd. 93.4 46.1 105.7 110.6

Finolex Cables Ltd. 889.2 (354.9) 576.3 867.8

Flawless Diamond (India) Ltd. 241.1 133.3 147.0 (19.5)

Gitanjali Gems Ltd. 1,606.90 1,505.80 2,001.70 3,548.10

Godrej Consumer Products Ltd. 1,592.40 1,732.60 3,395.90 5,147.10

Golkunda Diamonds & Jewellery Ltd. 4.884 15.801 5.118 10.203

Halonix Ltd. 480 16.3 (199.8) (101.1)



Hanung Toys and Textiles Ltd 607.4 644.5 897.8 1,195.70

Havells India Ltd. 1,609.60 (1,601.60) 695.6 3,035.70

Henkel India Ltd (648.1) (576) (518.4) NA*

Hindustan Sanitaryware & Industries Ltd.

268 317.3 436.5 781.5

Hindustan Unilever Ltd. NA* 20,036.10 21,566.30 22,960.50

IFB Industries Ltd. 373.5 3,150.80 537.6 503.1

ITC Ltd. 31,577.60 33,245.90 41,681.80 50,179.30

Jenson & Nicholson India Ltd. (136.658) (76.135) (38.731) (40.143)

Johnson & Johnson 615,148.70 571,779.60 594,763.10 NA*

Jyothy Laboratories (JLL) 498.8 511.5 743.4 687.6

Kajaria Ceramics Ltd. 150.20 89.00 358.50 606.20

Kansai Nerolac Paints Ltd. 1,195.90 985.9 1,655.00 2,059.80

Karuturi Global Ltd. 1,027.30 1,173.80 1,433.80 1,549.70

L’Oreal SA 132,338.20 119,206.00 133,961.50 NA*

Liberty Shoes Ltd. 40 (52.7) 43.4 61.8

Mafatlal Industries Pvt. Ltd. 399.5 3,375.90 453.5 3,455.60

Marico Ltd. 1,690.70 1,887.20 2,316.70 2,864.40

MIC Electronics Ltd. 700.9 658.9 553.8 263.6

Mirza International 53.6 53.6 187.8 391.8

Murudeshwar Ceramics Limited 266.267 1.808 (153.077) 52.956



Nagarjuna Agri Tech Ltd. (3.006) (2.738) (4.966) (16.464)

Neha International Ltd. 52.27 40.454 122.959 190.499

Nestle India Ltd. 5,340.80 6,550.00 8,186.60 NA*

Nike Inc. 79,975.80 70,193.80 88,418.10 96,368.90

Nilkamal 539.9 107 515 534.1

Nitco Limited 511 251.1 (88) 247.8

Ok Play India Ltd 32.139 (103.562) 47.081 (30.782)

Omega Ag Seeds (Punjab) Ltd. 0.118 0.045 0.237 (0.053)

Orient Ceramics and Industries Ltd. 24.9 63.7 114.6 63.4

Pochiraju Industries Ltd. 105.757 97.403 112.51 117.221

Procter & Gamble Co 518,506.50 647,279.30 591,396.20 527,325.90

Rajesh Exports Ltd. 2,065.60 873.8 1,934.00 2,479.90

Raymond Ltd. 215.5 (2,278.80) (459.5) 537.7

Reckitt Benckiser Group Plc 79,323.60 106,307.10 109,205.50 NA*

Regency Ceramics Limited (154.194) (148.311) (133.782) (154.392)

Relaxo Footwears Ltd. 105.2 142.3 377.6 267.9

Restile Ceramics Ltd. 3.009 (98.03) (49.828) (167.182)

Revlon Inc 2,814.50 2,264.80 14,599.20 NA*

S.Kumars Nationwide Ltd. 2,055.90 1,765.90 2,290.00 3,309.40

S.Kumars Unitexx ltd (0.226) 0.452 (8.183) 0.82



Shalimar Paints Ltd. 95.8 35.6 100 116.7

Shantivijay Jewels Ltd. 22.742 20.738 0.805 20.916

Shrenuj & Co. Ltd 442.5 237.2 507.7 568.4

Siemens Ltd. 5,995.50 7,046.00 7,577.70 8,677.50

SIP Industries Ltd. (0.979) (0.051) (0.47) NA*

Skechers USA Inc. 2,692.80 2,538.60 6,072.90 NA*

Somany Ceramics Ltd. 38.3 87.6 203.9 238.6

Suashish Diamonds Ltd. 634.3 (465) 826.9 680.1

Su‐Raj Diamonds & Jewellery Ltd. 682.1 391.8 851.7 1,305.40

Surya Roshni Ltd. 204.10 215.40 451.70 674.70

Timex Group 54.523 74.541 46.233 140.098

Titan Industries Ltd. 1,475.60 1,639.20 2,513.00 4,331.20

TTK Prestige Ltd. 206.7 223.8 524.4 837.5

Vaibhav Gems Ltd. (2,556.80) (2,403.50) (680.1) 431

Vintage Cards & Creations (42.036) (29.991) (16.133) NA*

VIP Industries Ltd. 229.4 (143) 483.9 887.2

White Diamond Industries Ltd. 0.656 NA* (2.539) 1.784

Wipro Ltd. 32,241.00 38,761.00 45,931.00 52,977.00

*Change in financial year



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Research on India_Consumer Goods Sector in India Monthly Update_January 2012

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