DOCSLIB.ORG

GCPL Press Release

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
GCPL Press Release PRESS RELEASE Godrej Consumer Products Limited to Acquire Megasari Group in Indonesia • PT. Megasari Makmur Group along with its distributor PT. Intrasari Raya is a leading household care company in Indonesia • This acquisition leapfrogs Godrej Group into being a leading player in Household Insecticides in Asia with strong market share positions in India Sri Lanka, Nepal, Bangladesh & Indonesia • Acquisition to be a strong platform for Godrej home care and personal care products in Indonesia • With a population of 240 million and expected GDP growth rates of over 5.5% in 2010, Indonesia represents an attractive market April 06, 2010. Mumbai, India: Godrej Consumer Products Ltd (GCPL) today announced that it has entered into an agreement to acquire PT. Megasari Makmur Group and its distribution company in Indonesia. Megasari Group manufactures and distributes a wide range of household products including household insecticides, wet tissues and air fresheners. Megasari Group’s products are market leaders in Indonesia in most of the categories that the company participates in. Commenting on the acquisition, Adi Godrej, Chairman, GCPL, said: “Megasari Group provides us a strong platform to establish a significant foothold in Indonesia, which is among the largest consumer markets in Asia. Given Megasari Group’s leading position in household product categories in Indonesia and the Godrej Group’s strong presence in this category in India, we believe this acquisition will provide significant synergies and create value for shareholders. As an emerging market multinational, this acquisition is an important step in our global 3 by 3 strategy – presence in 3 continents – Asia, Africa and Latin America through 3 core categories - home care, personal wash and hair care. Over the last few years, we have been following a very disciplined and focused approach to identifying acquisitions that represent a strong fit with our business, both strategically and operationally. We have also developed strong processes to manage and integrate these acquisitions. We look forward to working with the Megasari team to take the company to the next level along with creating a platform for other Godrej products in Indonesia.” A. Mahendran, Director, FMCG Portfolio Cell for the Godrej Group added: “We welcome Megasari Group to the Godrej Group. Megasari Group fits in very well with our entrepreneurial culture and aspiration to become a global powerhouse in household insecticides. We will achieve this by leveraging our significant expertise in this space in related consumer markets that provide attractive growth prospects. As one of the largest household insecticide and air care companies in Indonesia, the company has a strong track record in innovative high quality value-for-money products to the Indonesian consumer. We look forward to working with the seasoned Megasari team to further accelerate growth and leverage synergies between Megasari Group and the Godrej Group” Godrej Consumer Products Ltd. Pirojshanagar, www.godrejcp.com Eastern Express Highway, Vikhroli, Mumbai, 400 079, India. Investment thesis • Enables Godrej to leverage its strengths in the Insecticides and Aircare market. Megasari Group is the one of the largest Household Insecticides & Aircare company with leadership position in various categories. • Provides further momentum to Godrej Group aspirations to become a leading global household insecticides player in the developing and emerging world. • Provides foothold in the third largest consumer market in Asia (after China & India) • Indonesia shares a similar demographic and economic profile as that of India, hence makes an obvious geographic extension. • With a market size of around US$345 million, it’s the fourth largest Household Insecticides amongst the emerging markets, after China, India and Brazil. The per capita spend on Household Insecticides in Indonesia is almost thrice that of India, with larger share of growth from formats like Electricals and Aerosols and modern trade being the dominant channel. • Business provides platform for launching other Godrej home care and personal care products in Indonesia. Integration Plan Megasari Group’s current management team will continue to be involved with the companies. Godrej Group will put in place a cross functional team consisting of current Megasari employees and Godrej’s team from India. The cross-functional team will be led by Naveen Gupta who has 14 years of FMCG experience and has spent 8 years in Godrej Sara Lee’s International Operations. Naveen has spearheaded the diligence and negotiations for this transaction. He is a MBA graduate from IIFT with Bachelors in Engineering from Delhi College of Engineering. Naveen will move to Indonesia to manage the integration & enhance business value. HSBC acted as the Advisor to the Transaction. About Megasari Group • PT. Megasari Makmur was established in 1996 and has factories located in West Java, Indonesia • The group is a manufacturer of various household products including household insecticides, air fresheners, wet tissues, baby care, car and motorcycle products, food wrappings, drain openers, bleach, metal polishers and fly & rat glue. • The company is driven by an extensive distribution network and ubiquitous brands with strong consumer equity – Hit, Stella, Mitu, Simba are household names in Indonesia. About Godrej Consumer Products Limited Godrej Consumer Products Ltd (GCPL) is a major player in the Indian FMCG market with leadership in the hair color and fabric care categories. 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. The recent acquisition of Rapidol and Kinky in South Africa has given GCPL leading positions in the fast growing South African ethnic hair care market. GCPL has a 49% stake in Godrej Sara Lee, which is the market leader in India in the Household Insecticides market with its brands GoodKnight, HIT and JET. As part of increasing its global footprint, GCPL recently acquired Tura, a leading beauty brand in West Africa. Godrej Consumer Products Ltd. Pirojshanagar, www.godrejcp.com Eastern Express Highway, Vikhroli, Mumbai 400 079, India. Press enquires: Usha Iyer DGM, Corporate Communications Godrej Industries Phone no – 09820093609 Email – [email protected] Sachin Bhandary Image Manager Perfect Relations Phone no – 09819954815 Email – [email protected] Godrej Consumer Products Ltd. Pirojshanagar, www.godrejcp.com Eastern Express Highway, Vikhroli, Mumbai 400 079, India. .
Load more

Recommended publications
  • Consumer Goods on Path to Recovery; Essentials Hold an Upper Edge Sector Update
    Consumer Goods On path to recovery; Essentials hold an upper edge Sector Update Most consumer goods companies started Q4FY2020 with good growth, as Q4FY2020 Results Review gradual recovery was seen in the demand environment (especially in rural markets). However, the outbreak of COVID-19 resulted in a complete lockdown Sector: Consumer Goods in India in the last 10-15 days of March, leading to complete stoppage of production and disruption in supply chain. This impacted sales volumes of most Sector View: Positive companies at the fag end of the quarter, resulting in weak Q4FY2020 numbers. Volumes of most companies (barring food companies) under our coverage declined by 3-22% in Q4FY2020 (revenue of Sharekhan universe declined by 7.8% y-o-y). Companies such as Britannia Industries and Tata Consumer Products Our coverage universe (TCPL) registered growth of 2.5% and 5-6% (at organic level), respectively, in Q4FY2020. On the other hand, companies such as Godrej Consumer Products CMP PT Companies Reco. (Rs) (Rs) (GCPL), Emami, Jyothy Labs, and Dabur India posted double-digit decline in revenue, as pre-season inventory loading by dealers/distributors was affected Asian Paints 1,709 Buy 1,987 by the lockdown. On the international front, companies having large presence Britannia in Africa, Middle East and South East Asian countries registered lower sales in 3,623 Buy 4,060 Industries the international business affected by lockdown and macro headwinds. Lower raw-material prices (especially crude-linked inputs) and lower packaging costs Colgate- 1,383 Positive 1,551 aided gross margins of some companies to expand by 100-300 bps.
    [Show full text]
  • Consumer Goods Recovery in Discretionary and Urban Sales Led to Better Q3 Sector Update
    Consumer Goods Recovery in discretionary and urban sales led to better Q3 Sector Update Consumer goods companies’ Q3 performance was driven by sales recovery of Q3FY2021 Results Review discretionary categories (such as value-added hair oil and personal care products), sustained higher demand for healthcare and hygiene products, better traction to Sector: Consumer Goods new launches, and higher demand in rural markets coupled with improving demand in urban markets. General trade continues to grow strongly, e-commerce mix to Sector View: Positive overall revenue is improving due to higher sales and modern trade channel has witnessed sequential improvement due to recovery in urban sales. Most consumer goods companies under our coverage registered organic revenue growth of 6%-16%, driven by domestic volume growth of 7%-18% in Q3. Paint companies, including Asian Paints, registered strong volume growth of 30%, led by sustained high demand in tier III/IV towns and improving demand in metros and top cities due to receding scare of virus and improving construction and real estate activities. Overall, Sharekhan’s consumer goods universe registered revenue growth of ~14% in Q3FY2021, better than 9.1% growth achieved in Q2FY2021. Significant increase Our coverage universe in prices of palm oil, copra, other edible oils, and raw tea/coffee resulted in gross Companies CMP Reco. PT margin decline for companies such as HUL, Godrej Consumer Products (GCPL), (Rs) (Rs) Marico, and Tata Consumer Products (TCPL). However, lower ad spends and cost- Asian Paints 2,389 Buy 3,000 saving initiatives arrested the sharp decline of 80-100 bps in operating profit margins (OPM) for some companies.
    [Show full text]
  • Code of Conduct
    Code of Conduct This Code of Conduct is applicable to all employees, associates in business and members of the Board of Directors of Godrej Industries Limited and Associate Companies (GILAC), across geographies. You as an employee or associate of GILAC are expected to read the Code of Conduct (the ‘Code’), be aware of its principles to follow during the conduct of your business work for GILAC and sign a periodic declaration of acknowledgement that you have read, understood and agree to abide by the principles laid down in this Code and all the other policies of the respective GILAC company and submit such declaration to the HR Team. There will be zero-tolerance policy as to any violation of this Code. Godrej Consumer Products 2 Code of conduct A MESSAGE FROM OUR CHAIRMAN Dear colleague, We at Godrej, are fortunate to draw from a strong legacy that has held us in good stead for over a hundred years now. We believe, our values strengthened with re-emphasis through the codified ‘Godrej Way’ principles distinguish our successes, even as we grow and adapt, in sync with the changing times. So, it is imperative that we continue to earn and value the trust and respect of our colleagues, customers, suppliers, shareholders and other members of the communities of which we are a part. The Godrej Code of Conduct is the essence of our business principles and provides you a charter as to how they apply to each of us. I encourage you to adhere to these principles in both spirit and practice, as you lead Godrej into the future.
    [Show full text]
  • Mahindra & Mahindra Ltd
    Mahindra & Mahindra Ltd. Mahindra Towers, Dr. G. M. Bhosale Marg, Worli, Mumbai 400 018 India Tel: +91 22 24901441 Fax: +91 22 24975081 REF:NS:SEC: th 7 August, 2021 National Stock Exchange of India Limited BSE Limited "Exchange Plaza", 5th Floor, Phiroze Jeejeebhoy Towers, Plot No.C/1, G Block Dalal Street, Fort, Bandra-Kurla Complex Mumbai 400001. Bandra (East), Mumbai 400051. Bourse de Luxembourg London Stock Exchange Plc Societe de la Bourse de Luxembourg 10 Paternoster Square Societe Anonyme/R.C.B. 6222, London EC4M 7LS. B.P. 165, L-2011 Luxembourg. Sub: Re-appointment/Appointment of Directors – Disclosure under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 We wish to inform you that, at the 75th Annual General Meeting held on 6th August, 2021, the Shareholders of the Company have approved the: 1. Appointment of Ms. Nisaba Godrej (DIN: 00591503) as an Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years commencing from 8th August, 2020 to 7th August, 2025; 2. Appointment of Mr. Muthiah Murugappan (DIN: 07858587) as an Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years commencing from 8th August, 2020 to 7th August, 2025; 3. Re-appointment of Mr. T. N. Manoharan (DIN: 01186248) as an Independent Director of the Company, not liable to retire by rotation, for a second term of 5 (five) consecutive years commencing from 11th November, 2021 to 10th November, 2026. The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No.
    [Show full text]
  • 6 August 2019 Compass Group PLC – 2019 AGM Voting Outcome Update Statement in Its 2019 AGM Results Announcement, the Company N
    6 August 2019 Compass Group PLC – 2019 AGM voting outcome update statement In its 2019 AGM results announcement, the Company noted that all resolutions were passed, although there was a significant minority vote against resolution 12 which related to the re- election of Ireena Vittal as a non-executive director. Total votes received in favour of this resolution were 77.62%. Following the AGM result, the Company has actively sought to engage with significant shareholders who voted against Ireena’s re-election. The dialogue has been initiated in order to better understand their voting decision, which centres around a perceived ‘over-boarding’ in light of other non-executive directorships and the application of mechanistic guidelines. The Board has considered the concerns some shareholders have about over-boarding however the Company strongly believes that Ireena Vittal is an effective independent non- executive for Compass Group PLC. In addition to her non-executive role at Compass Group PLC Ireena sits on five Indian listed company boards as a non-executive director (Godrej Consumer Products Limited, WIPRO Limited, The Indian Hotels Company Limited, Titan Company Limited and Housing Development Finance Corporation Limited). The time commitments for Indian company boards are significantly less onerous than UK companies with fewer meetings in each case, fewer Committees, and in the majority of cases meeting sets concluded within a single day. The Board is satisfied with her attendance and believes she devotes appropriate time to Compass business, as well as bringing valuable insights and increased diversity to the Board room. Any further updates on communication with shareholders on this matter, and relevant justification for the re-election of all directors of the Company, will be provided in the 2019 Annual Report and Accounts and associated documentation.
    [Show full text]
  • Report on Corporate Governance
    REPORT ON CORPORATE GOVERNANCE COMPANY’S PHILOSOPHY ON denotes the highest rating. The CGR2+ has a lead Independent Director, CORPORATE GOVERNANCE rating implies that according to ICRA’s in line with the accepted best Corporate governance refers to the current opinion, the rated company has practices, to strengthen the framework of rules and practices adopted and follows such practices, focus and quality of discussion through which the board of directors conventions, and codes that would at the Board level. ensures accountability, fairness, provide its financial stakeholders a high and transparency in a company’s level of assurance on the quality of The Board meets at least relationship with all its stakeholders. corporate governance. once in a quarter to review the Company’s quarterly The Company is a part of the 122-year- The SVG1 rating is on a rating scale of performance and financial old Godrej Group, which has established SVG1 to SVG6, where SVG1 denotes results. Board meetings are a reputation for honesty, integrity, and the highest rating. The SVG1 rating governed with a structured sound governance. The Company’s implies that in ICRA’s current opinion, agenda. The Board periodically philosophy on corporate governance the Company belongs to the highest reviews compliance reports with envisages attainment of the highest category on the composite parameters respect to laws and regulations levels of transparency, accountability, of stakeholder value creation and applicable to the Company. and equity in all facets of its operations management as well as corporate Before the commencement of and interactions with its stakeholders, governance practices. the Audit Committee meeting, including shareholders, employees, the members of the Audit lenders, and the government.
    [Show full text]
  • Annual Report
    INSIDE Wipro in Brief 02 Board’s Report 65 Design it Build it 04 Corporate Governance Report 109 Financial Highlights 08 Financial Statements Key Metrics 09 Standalone Financial Statements Letters under India GAAP 130 Chairman’s Letter to the Stakeholders 10 Consolidated Financial Statements Vice-Chairman’s Letter to the Stakeholders 12 under India GAAP 171 CEO’s Letter to the Stakeholders 14 Consolidated Financial Statements Board of Directors under IFRS 216 Profile of Board of Directors 16 Business Responsibility Report 265 Sustainability Highlights 2015-16 22 Glossary 270 Management Discussion & Analysis An Integrated Approach 24 Industry and Business Overview 26 Business Strategy 27 Business Model 30 Good Governance and Management Practices 35 Risk Managment 35 Capitals and Value Creation 38 Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixedprice, fixed-time frame contracts, client concentration, restrictions on
    [Show full text]
  • (Contd.) 1 GODREJ AGROVET LIMITED
    GODREJ AGROVET LIMITED Godrej Agrovet Limited Related Party Disclosures (Contd.) 1 In compliance with Ind AS 24 - “Related Party Disclosures”, as notified under Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, as amended, the required disclosures are given below: GODREJ AGROVET LIMITED (a) (i) Key Management Personnel and Entities Mr. N. B. Godrej (Chairman) where Key Management Personnel has significant influence Mr. A. B. Godrej Mr. J. N. Godrej Mr. V. M. Crishna Ms. Tanya A. Dubash Ms. Nisaba Godrej Mr. Pirojsha A. Godrej Mr. B. S. Yadav (Managing Director) Mr. K. N. Petigara Mr. A. B. Choudhury Dr. S. L. Anaokar Dr. R. A. Mashelkar Dr. Ritu Anand Ms. Aditi Kothari Desai Ms. Roopa Purushothaman Mr. N. Srinivasan Mr. Kannan Sitaram Mr. Vivek Raizada (Company Secretary) Mr. S. Varadaraj (Chief Financial Officer) The Raika Godrej Family Trust TAD Family Trust BNG Family Trust HNG Family Trust SNG Family Trust NG Family Trust PG Family Trust Mrs. Pheroza Godrej Mrs. Freyan Crishna Bieri Mrs. Nyrika Holkar Mr. Navroze Jamshyd Godrej Mrs. Raika Jamshyd Godrej FVC Familiy Trust NVC Family Trust Mr. Rishad Kaikhushru Naoroji (b) (i) Holding companies Godrej Industries Limited (Holding Company) (ii) Fellow Subsidiary Companies Godrej Properties Ltd. Natures Basket Limited Godrej One Premises Management Private Limited Godrej Vikhroli Properties India Limited (iii) Joint Ventures Godrej Tyson Foods Limited (upto 26th March, 2019) ACI Godrej Agrovet Private Limited, Bangladesh Omnivore India Capital Trust (iv) Associates Godrej
    [Show full text]
  • India Internet a Closer Look Into the Future We Expect the India Internet TAM to Grow to US$177 Bn by FY25 (Excl
    EQUITY RESEARCH | July 27, 2020 | 10:48PM IST India Internet A Closer Look Into the Future We expect the India internet TAM to grow to US$177 bn by FY25 (excl. payments), 3x its current size, with our broader segmental analysis driving the FY20-25E CAGR higher to 24%, vs 20% previously. We see market share likely to shift in favour of Reliance Industries (c.25% by For the exclusive use of [email protected] FY25E), in part due to Facebook’s traffic dominance; we believe this partnership has the right building blocks to create a WeChat-like ‘Super App’. However, we do not view India internet as a winner-takes-all market, and highlight 12 Buy names from our global coverage which we see benefiting most from growth in India internet; we would also closely watch the private space for the emergence of competitive business models. Manish Adukia, CFA Heather Bellini, CFA Piyush Mubayi Nikhil Bhandari Vinit Joshi +91 22 6616-9049 +1 212 357-7710 +852 2978-1677 +65 6889-2867 +91 22 6616-9158 [email protected] [email protected] [email protected] [email protected] [email protected] 85e9115b1cb54911824c3a94390f6cbd Goldman Sachs India SPL Goldman Sachs & Co. LLC Goldman Sachs (Asia) L.L.C. Goldman Sachs (Singapore) Pte Goldman Sachs India SPL Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.
    [Show full text]
  • Godrej Properties Limited
    Godrej Properties Limited December 2009 DISCLAIMER Godrej Properties Limited (“Company”) proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on SEBI website at www.sebi.gov.in, as well as on the websites of the global coordinators and book running lead managers at www.icicisecurities.com and www.kotak.com , and of the book running lead managers at www.idfcsski.com and http://www.nomura.com/asia/services/capital_raising/equity.shtml. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled “Risk Factors” of the DRHP. This presentation is for informational purposes only and does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of the securities of the Company may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom. Investors and prospective investors in securities of the Company are required to make their own independent investigation and appraisal of the business and financial condition of the Company and the nature of the securities.
    [Show full text]
  • Consumer Goods Recovery in Discretionary Categories Points to Steady Q3 Sector Update
    Consumer Goods Recovery in discretionary categories points to steady Q3 Sector Update Consumer goods companies (barring ITC) are expected to post steady performance Q3FY2021 Results Preview in Q3FY2021 with revenue growth of 5-10%, largely driven by a rise in sales volumes of value-added hair oils (VAHO), hair colour, higher demand for winter care products Sector: Consumer Goods and sustained demand for healthcare products. Meanwhile, sales of products such as hand sanitizers that peaked during the pandemic, will moderate as the virus Sector View: Positive threat eases, while sales of biscuits and packaged foods will stabilise in Q3FY21 (but will stay high compared with Q3FY20). Rural demand will continue to outpace urban demand due to better rural economics driven by a strong kharif and rabi seasons. We expect HUL (core business - excluding GSK Consumer’s portfolio), Britannia and Our coverage universe Nestle India to achieve volume growth of 6-9% in Q3FY2021. We expect mid-cap CMP PT companies such as Dabur India, Marico, Emami and Godrej Consumer Products Companies Reco. (Rs) (Rs) (GCPL) to achieve volume growth of 7-12% driven by a recovery in discretionary categories and sustained high demand for healthcare products. Tata Consumer Asian Paints 2,803 Buy UR Products is expected to post strong double-digit growth driven by double digit Britannia 3,538 Buy 4,200 growth in India beverage and Tata Coffee businesses while the recently-acquired Industries foods business is set to register mid-to-high teen growth. ITC’s cigarette sales volume Colgate- are expected to grow in low single digit while non-cigarette FMCG business will Palmolive 1,598 Buy 1,850 maintain double digit growth momentum.
    [Show full text]
  • Godrej Consumer Products Limited CIN No
    Godrej Consumer Products Limited CIN No. L24246MH2000PLC129806 Registered Office: Pirojshanagar, Eastern Express Highway, Vikhroli, Mumbai – 400 079 Phone: +91 22 25188010/20/30; Fax: +91 22 25188040; Website: www.godrejcp.com; Email: [email protected] Dear Member(s), NOTICE OF POSTAL BALLOT [Pursuant to Section 110 of the Companies Act, 2013 and applicable Rules thereunder] The Board of Directors of the Company at its meeting held on July 28, 2014, approved the businesses, as set out in the accompanying postal ballot form, for approval of the Members of the Company through Postal Ballot. Accordingly, the proposed Resolutions and the Explanatory Statement thereto is sent to you along with a Postal Ballot Form for your consideration. You are requested to read the instructions printed in the accompanying Postal Ballot Form and return the same along with assent (FOR) or dissent (AGAINST), in the attached self addressed postage pre-paid envelope so as to reach the Scrutinizer before the close of working hours (5.30 p.m.) on September 19, 2014. Please note that any Postal Ballot Form(s) received after the said date will be treated as not having been received. No other form or photocopy thereof is permitted. Members may note that as required under Clause 35B of the Listing Agreement, the Company has engaged the services of Central Depository Services (India) Limited to provide Electronic Voting facility (e-voting) to Members of the Company. Accordingly the Company is providing e-voting facility through Postal Ballot as an alternate, which would enable them to cast votes electronically, instead of dispatching Postal Ballot.
    [Show full text]