When asked about the response to the rights offer, he said much of the subscription is generally received on the last couple of days. But if the issue is not fully subscribed, the promoters will pick up that portion.
The rights issue has been offered in proportion of one new share for every seven shares held at Rs 123 each.
Referring to the performance of the company, he said, "high raw material prices were the key challengers which we partially mitigated through increase in soap prices and good procurement management."
Godrej said the performance of the company in the current year will be strong.
The company does not have plans to increase the prices of its products in near future but going forward the prices of soaps may be increased by five per cent depending upon inflation, he said.
The company's profit after tax during the fourth quarter was at Rs 40.8 crore, a rise of 33 per cent and PAT for the year was Rs 117.2 crore up 26 per cent. While the company's sales for the said quarter stood at Rs 272 crore showing a rise of Rs 272 crore and sales for the year was at Rs 1,102 crore, a growth of 16 per cent.
The company earned 59 per cent of its revenues from soaps while hair colour accounted for revenue of 27 per cent with toiletries, liquid detergents and by-products accounting for the remaining 14 per cent, the company said.
