Godrej Industries rose 0.34% to Rs 281.65 at 13:35 IST on BSE after consolidated net profit rose 22% to Rs 94 crore on 2% growth in total income to Rs 2083 crore in Q2 September 2013 over Q2 September 2012.
The result was announced after market hours on Monday, 11 November 2013.
Meanwhile, the BSE Sensex was down 78.96 points, or 0.39%, to 20,412.
On BSE, 20,000 shares were traded in the counter compared with average volume of 79,656 shares in the past one quarter.
The stock hit a high of Rs 286.65 and a low of Rs 281 so far during the day. The stock hit a 52-week high of Rs 331.95 on 9 January 2013. The stock hit a 52-week low of Rs 218.50 on 28 August 2013.
The stock had outperformed the market over the past one month till 11 November 2013, rising 4.72% compared with the Sensex's 0.18% fall. The scrip had also outperformed the market in past one quarter, gaining 16.47% as against Sensex's 9.06% rise.
The mid-cap company has an equity capital of Rs 33.54 crore. Face value per share is Re 1.
Godrej Industries' consolidated profit before depreciation, interest, taxation (PBDIT) rose 31% to Rs 191 crore in Q2 September 2013 over Q2 September 2012. Profit before tax (PBT) rose 38% to Rs 139 crore in the same period.
Commenting on the company's Q2 performance Mr. A. B. Godrej, Chairman, Godrej Industries said, "Our results for the second quarter have demonstrated the strength of our business model which captures a diverse range of businesses in some of the key growth sectors of the economy. In a challenging environment, our overall performance has been encouraging as some of the core operations registered sustained growth.
Our agri businesses registered sustained momentum in revenues and marked improvement in profitability driven primarily by the agri-inputs segment and our agri joint ventures. The aqua feed business continued to record strong volumes in Q2 September 2013 followed by robust growth in layer feed volumes. The oil-palm segment has been incrementally adding acreage under cultivation each quarter. Overall, the outlook for all the agri. businesses is extremely favourable and we are positioned well to tap the prospects in the agri. sector in India.
Godrej Properties has witnessed strong growth, a successful capital raise and the expansion of their development portfolio by adding joint venture projects in key markets across India. Godrej Properties continues to place tremendous emphasis on execution at all on-going projects and we are happy to deliver Phase 1 of Godrej Garden City, Ahmedabad on time in Q2 September 2013.
In a challenging environment, Godrej Consumer has delivered 23% growth well ahead of FMCG industry growth. Along with healthy top line growth, we have also delivered good operating profit growth with 20% EBITDA growth. We continue to be aggressive in launching new innovations that have been well accepted by our consumers. We are backing our new launches with strong investments. At the same time, we continue to intensify our efforts in enhancing our distribution and improving productivity through technology.
Our Chemicals business performance continues to reflect the impact of an adverse global economic environment and increasing price of natural gas. While we remain cognizant of the challenges, we believe that the tide should turn and the business will again be in a position to deliver healthy performance."
Godrej Industries is in the businesses of oleochemicals, surfactants, finance & investments and estate management. It has substantial interests in several industries including property development, oil palm plantation, animal feeds and agro-products, poultry, personal care and household care, etc., through its subsidiaries and associate companies.
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