Godrej Industries Ltd Share Price – NSE  /  BSE

Chemicals, Small Cap

Godrej Industries has allotted One lakh Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures having face value of Rs 1 lakh each aggregating to Rs 1000 crore on private placement basis on 29 February 2024.

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In series 1 debentures, the company will issue 25,000 NCDs with a face value of Rs 1 lakh each, aggregating to Rs 250 crore with an option to retain over subscription the company will issue additional 25,000 NCDs with a face value of Rs 1 lakh each aggregating to Rs 250 crore, collectively aggregating up to 50,000 NCDs each aggregating to Rs 500 crore.

Consequently, in series 2, the company will issue 25,000 NCDs with a face value of Rs 1 lakh each, aggregating to Rs 250 crore with an option to retain over subscription of 25,000 rated listed unsecured redeemable non-convertible debentures of the face value of Rs 1 lakh each aggregating to Rs 250 crore, collectively aggregating up to Rs 50,000 rated listed unsecured redeemable non-convertible debentures of the face value of Rs 1 lakh each aggregating to Rs 500 crore.

Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation and real estate.

The company’s consolidated net profit tumbled 66.17% to Rs 160.41 crore in Q3 FY24 as against Rs 314.58 crore recorded in Q3 FY23. Revenue from operations declined 6.57% year on year (YoY) to Rs 3,590.08 crore during the quarter ended 31 December 2023.

The scrip rose 0.44% to Rs 804.05 on the BSE.

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Revenue from operations declined 6.57% year on year (YoY) to Rs 3,590.08 crore during the quarter ended 31 December 2023.

Profit before tax stood at Rs 215.83 crore in third quarter of FY23, down by 53.11% from Rs 460.33 crore posted in same quarter last year.

On nine month basis, the company’s net profit declined 44.9% to Rs 371.75 crore on 1.22% increase in revenue from operations to Rs 12,033.35 crore in 9M FY24 over 9M FY23.

Meanwhile, the board has approved further investment of upto Rs 900 crore by way of subscription or purchase or otherwise in Godrej Capital, subsidiary company, notwithstanding that the aggregate of the investments so far made or to be made, in terms of the already sanctioned limits, exceeds the limits or will exceed the limits laid down by the Act, subject to the approval of the shareholders of the company.

Further, the board of directors has approved the appointment of Vishal Sharma as ‘whole time director’ of the company, to be designated as ‘executive director & chief executive officer (chemicals)’, with effect from 1 May 2024 to 31 March 2027, subject to shareholders’ approval.

Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation and real estate.

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Net profit of Godrej Industries declined 66.17% to Rs 106.41 crore in the quarter ended December 2023 as against Rs 314.58 crore during the previous quarter ended December 2022. Sales declined 6.57% to Rs 3590.08 crore in the quarter ended December 2023 as against Rs 3842.55 crore during the previous quarter ended December 2022.

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