FMCG

Industry Monitor
FMCG
Vol. 1109
September 2011
CONTENTS
INDUSTRY AT A GLANCE ....................................................................................................2 KEY DEVELOPMENTS ..........................................................................................................3 Marketing ...............................................................................................................................3 Finance ...................................................................................................................................3 Investments ............................................................................................................................4 Mergers & Acquisitions ..........................................................................................................4 Others ....................................................................................................................................4 INDUSTRY STATISTICS .........................................................................................................5
ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 on 2011-09-24 00:34:52 EDT. DownloadPDF.
PRODUCT FOCUS ...................................................................................................................6 Personal Wash (SOAPS) .........................................................................................................6 Overview ............................................................................................................................6 Types of Soaps....................................................................................................................6 Market Scenario ..................................................................................................................7 Outlook ..............................................................................................................................7 COMPANY SCAN.....................................................................................................................8 Godrej Consumer Products Ltd..............................................................................................8 Introduction........................................................................................................................8 Cost Structure Analysis .....................................................................................................10 Stock Performance............................................................................................................10 Outlook ............................................................................................................................11 STOCK SCAN .........................................................................................................................12 UPCOMING EVENTS ...........................................................................................................13
Cygnus Business Consulting & Research Pvt. Ltd., 2011
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Industry Monitor FMCG
September 2011
INDUSTRY AT A GLANCE
MARKETING FMCG majors log onto social sites to woo customers, India FINANCE HUL cuts ad spend in Q1 (April-June 2011), even as rivals up budgets, India P&G attributes sales rise to increased prices and marketing, India Jyothy Laboratories net profit falls 45%, India INVESTMENTS ITC invests Rs50 billion for buying shares of rival FMCG, IT and agri-products companies, India MERGERS & ACQUISITIONS Wipro eyes more acquisitions in FMCG space, India Marico eyes beauty and wellness segment in Asia, Africa, India Dabur India sets up new subsidiary in Sri Lanka, India OTHERS
ITC's education and stationery SBU making profits, India

September 2011
KEY DEVELOPMENTS
Marketing
Asia-Pacific India: FMCG majors log onto social sites to woo customers Recognising the growth potential of the packaged food business in India, FMCG majors are devising fresh strategic plans to woo consumers. After posting a 21% rise in sales in the first quarter of financial year 2011-12, ITCs food division is planning for an extension of manufacturing capacity, distribution, and online advertising and product extensions. ITC is exploring the possibility of setting up an integrated food park in India. Like ITC, Dabur India is also sharpening its focus on social media marketing strategy to connect with consumers. To reach out to a wider target audience, Dabur is in the process of expanding the distribution network for its flagship brands Real and Active to cover smaller cities across the country. ITC and Dabur have opted for social media marketing tools to support mass media ad campaigns. Parle is also in the process of expanding its manufacturing capacity and distribution to sustain its growth momentum in domestic markets. With increasing competition, the Rs240 billion packaged foods business sector in India will witness a lot of action in the second quarter of financial year 2011-12.
Finance
Asia-Pacific India: HUL cuts ad spend in Q1 (April-June, 2011), even as rivals up budgets Indias FMCG companies, traditionally among the largest advertising spenders, have begun to show a divergence in their spending pattern. Market leader Hindustan Unilever (HUL), which is the countrys largest advertiser, cut its ad spend substantially during the last quarter (April-June 2011). In contrast, most other FMCG firms such as Dabur, Godrej Consumer Products (GCPL) and Marico have increased their absolute advertising spend. In fact, the marketer of countrys second-largest soaps brand, GCPL, plans to further increase its ad spend to drive sales across its products such as Godrej Expert hair colour, Good Knight anti-mosquito repellant mats and vapourisers. HULs ad spend during the quarter was 15.74% ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 on 2011-09-24 00:34:52 EDT. DownloadPDF. lower at Rs6329.5m compared with Rs7512.1m in the year-ago period. India: P&G attributes sales rise to increased prices and marketing The FMCG manufacturer, which also owns Gillette, Febreze and Olay, reported a 10% increase in net sales to US$20.9 billion (12.8bn) for the three months to June, 2011 and a 5% increase to US$82.6 billion (50.7bn) for the full year. The company stated that price increases accounted for the majority of the 5% organic growth for the fourth quarter. P&G increased its marketing spend by US$700m (430m) to US$9.3 billion (5.7bn) for the year or 11.3% of net sales, most of which was invested in advertising. It also spent US$2 billion (1.2bn) on research and development - which it claims is 60% more than any competitor spends, as part of its strategy to drive growth through innovation. The company is reducing its spend on promotions as part of a strategy to balance price and volume growth. India: Jyothy Laboratories net profit falls 45% FMCG firm Jyothy Laboratories (JLL) posted a 45.2% decline in its net profit of Rs140.2m for the quarter ended June 30, 2011. The company opined that the decline is due to restructuring of its distribution channel to align with that of its recently acquired FMCG firm Henkel India. During the quarter under the review, the company had net sales of Rs1229.9m, which is 18.71% down from Rs1513.1m sales in the corresponding quarter last fiscal. The performance during the quarter has been impacted on account of restructuring of its distribution system from three-level to two-level. The change will have a one-time impact on both the sales and net profit.

September 2011
Investments
Asia-Pacific India: ITC invests Rs50 billion for buying shares of rival FMCG, IT and agri-products companies ITC plans to invest up to Rs50 billion buying shares of its rivals FMCG, IT and agri-products companies. Currently company has liquidity in its books to the tune of Rs40-50 billion of funds. It would like to deploy it as equity investments in sectors where it operate, have a thorough understanding and hence feel safer about its investment. The cigarettes-to-hotels conglomerate will look at a wide range of rival companies in FMCG, IT and agri-products for treasury investment. ITC also plans to get into dairy business, making pasteurised milk, milk powder, cheese, milk chocolates and butter.
Mergers & Acquisitions

Asia-Pacific India: Wipro eyes more acquisitions in FMCG space Wipro Consumer Care and Lighting is looking for more acquisitions in the fast moving consumer care space, both in the domestic and overseas markets as it plans to enhance its product portfolio. The company is looking for possible buyouts in the skincare and personal wash categories. The company had acquired two soap brands Aramusk and Moloy from Mumbai-based VVF. Prior to that, it had acquired London-based Yardleys business in Asia, the Middle East, Australasia and certain African markets for over US$45.5m. Some of its other acquisitions include energy drink brand Glucovita, followed by Chandrika soap and North-West Switches. India: Marico eyes beauty and wellness segment in Asia, Africa FMCG firm Marico which posted a consolidated net profit of Rs850m for the quarter ended June 30, 2011, was tapping business opportunities in the beauty and wellness segment in the emerging nations. Company is interested in expanding its footprint in the beauty and wellness segment in developing countries, especially in Asia and Africa. It believes this segment will grow significantly in future. The FMCG firm posted a 15.28% from Rs850m in its on 2011-09-24 00:34:52 EDT. DownloadPDF. ISIEmergingMarketsPDF in-yesbank4 rise to123.136.18.22 consolidated net profit compared to Rs737.3m in the same quarter in 2010. India: Dabur India sets up new subsidiary in Sri Lanka Dabur India has formed a new entity, Dabur Lanka Pvt Ltd, as part of a strategy to strengthen its presence in Sri Lanka. It has been incorporated under its wholly-owned subsidiary, Dabur International, which manages the companys overseas operations. As part of its plans for the island nation, Dabur is in the process of setting up a manufacturing facility which is expected to start production by the end of this fiscal. Dabur currently does not have a significant presence in Sri Lanka. However, it has identified the country as one of its focus markets in the coming years. Around 22% of the companys sales come from international markets, including African nations, Nepal and Bangladesh. Dabur, which sells personal care and healthcare products under brands like Dabur and Vatika, registered sales of Rs41100m last fiscal.
Others
India: ITC's education and stationery SBU making profits The education and stationery products division of non-tobacco FMCG portfolio has been making profits in the last three years. The education and stationery products division of the company is making profits. The division had clocked a CAGR of 60% over the last six years and the revenue earned by the unit had touched Rs5000m. The target revenue of the division was to clock Rs10,000m in the next three years and Rs15,000m in five years. The company had engaged 20 small-scale units to manufacture notebooks for ITC since production of this category was still reserved for the SSI sector. Company stated a lot of foreign companies were showing interest in the Indian notebook and writing instruments market whose size was estimated at Rs70,000m per annum going by the consumer spend.

September 2011
INDUSTRY STATISTICS
Top 10 FMCG Advertisers in 2010 (Expenditure in Indian Market share) Rank 1 2 3 4 5 6 7 8 9 10 11 Advertisers Coca Cola Ltd Pepsi co Parle agro Dabur India ltd Tata tea ltd. Zudus Cadila Healthcare Ltd Cavin Kare ldt Gujarat Cooperative Milk Marketing Federation Aachi Masala Foods(p) Ltd Siva soft drink Ltd. Others % Share 46 27 8 5 4 3 2 1 1 1 2
Note: Figures are based on Secondages Source: AdEx India, Cygnus Research
50
46
Top 10 FMCG Advertisers in 2010 (Expenditure in Indian Market share)
27 25 % Share
3 ZC HL
2 C KL
1 SSDL
2 Others
0 C C L Pepsi Parle D I L TTL GC MMF AMFPL

Note: Figures are based on Secondages Source: AdEx India, Cygnus Research

September 2011
PRODUCT FOCUS
Personal Wash (SOAPS)
Overview
Soaps are cleaning products that have become an essential part in our daily lives. Cleaning products play an essential role by safely and effectively removing dirt, germs and other contaminants, and thus promote a hygienic lifestyle. Soap was perfumed and colored, some of the soaps were liquid and others were solid. Soap is a mixture of sodium salts of various naturally occurring fatty acids. Soap is produced by a saponification or basic hydrolysis reaction of a fat or oil. Currently, sodium carbonate or sodium hydroxide is used to neutralize the fatty acid and convert it to the salt. If the fatty acid salt has potassium rather than sodium, a softer lather is the result. Air bubbles added to a molten soap will decrease the density of the soap and thus it will float on water.
Types of Soaps
Novelty soaps include the soap in the shape of a rubber ducky and the soapMajor Players on-a-rope, made not only to clean, but for enjoyment as well. Soaps may be HUL made novel by their shape and/or coloring. There are novelty soaps for Nirma children, for example, a bar of soap can have a toy inside or be formed like a P&G crayon and used to draw on the tub. As with other types of soap, you can Godrej purchase novelty soaps or make your own. Many specialty soap molds are available in a vast array of ethnic, holiday, and other shapes. Beauty soaps are likely to feature attractive fragrances, and ingredients to address a variety of skin types. Beauty soaps may feature glycerin, or special oil blends, for example, combining Shea butter, with coconut palm oil and other oils. Guest soaps are usually miniature soaps, Market Share of major ISIEmergingMarketsPDF in-yesbank4 from and designed on 2011-09-24 00:34:52 EDT. DownloadPDF. molded into attractive shapes 123.136.18.22 companies for use by guests in the main bathroom, or in Nirma a separate guest bathroom. Popular shapes 20% are flowers, sea shells, and rounds. Laundry soap is specially formulated to clean clothes. Godrej Dish soap is the counterpart of dish 8% HUL detergent and comes in a variety of scents.
60%
Global Scenario Brazil is home to the second largest soap market, led by bar soap. Russia is expected to exhibit steady growth between 2009 and 2014. Russia is expected to exhibit steady growth between 2009 and 2014, while India leads the soap market in terms of value among the BRIC. Indian Scenario The personal wash can be segregated into: Premium- Lux, Dove Economy- Nirma Bath, Lifebuoy Popular- Nirma, Cinthol
Others 12%
Source: Market Source; Cygnus Research

September 2011
The price of the premium segment products is twice that of economy segment products. The economy and popular segments are 4/5ths of the entire soaps market. The penetration level of toilet soaps is 88.6%. However, the per capita consumption of soap in India is at 460 gms per annum, while in Brazil it is at 1,100 gms per annum. Fast Moving Consumer Goods (FMCG) are popularly named as consumer packaged goods. Items in this category include all consumables (other than groceries/pulses) people buy at regular intervals. The most common in the list are toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish, packaged foodstuff, household accessories and extends to certain electronic goods. These items are meant for daily of frequent consumption and have a high return. Top Soap Brands in India: Lux, Dove, Pears, Dettol, Lifebuoy
Market Scenario
Soaps account for the largest single share of about 10% in the Rs480 billion FMCG market. 70% of India's population resides in the rural areas; hence around 50% of the soaps are sold in the rural markets.
4.00
Industrial Production of Soaps in India

3.85
3.83 3.80 3.78
The soap market is dominated by three major players- Hindustan Unilever Limited, Nirma and 3.71 Godrej. Together they have 88% of the market share. While HUL has clearly been the market leader over the last many decades, Nirma has grown in past 15 years to command one-fifth of 3.60 the market. The remaining market is held by 2006-07 2007-08 2008-09 2009-10 Palmolive, Wipro, Dabur, Medimix and others. ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 on Source: CSO;00:34:52 EDT. DownloadPDF. 2011-09-24 Cygnus Research The soaps industry is a mature industry and growing at an average rate of around 5-6% per annum, by volume and is expected to increase its rate of growth to around 7-8% in the next couple of years. The primary aim of the top soap brands in India is to expand the number of rural consumers since the rural consumers consists of 70% of the total population of the country. The overall soap penetration in Indian households is 98%.
m tonnes
Outlook
The FMCG sector, which is the fourth largest sector in India, has performed encouragingly. It is heartening that a large amount of the growth is contributed by volume expansion which is an indication of rising demand and consumption. Higher raw material prices, rising food inflation and increasing competition may impact margins of some products but overall still believe that there is significant opportunity in this space. With increase in disposable incomes, growth in rural demand is expected to increase because consumers are moving up towards premium products. However, in the recent past there has not been much change in the volume of premium soaps in proportion to economy soaps, because increase in prices has led some consumers to look for cheaper substitutes.

September 2011
COMPANY SCAN
Godrej Consumer Products Ltd
Introduction
Godrej Consumer Products Ltd. (GCPL) is a major player in the Indian FMCG market with leadership in personal, hair, household and fabric care segments. Established in 1897, the Godrej group has grown in India from the days of the charkha to nights at the call centres. The company employs 950 people and has three state-of-the-art manufacturing facilities at Malanpur (M.P.) Guwahati (Assam) and Baddi (H.P.). Their focus is on providing their customers with innovative, value for money solutions for meeting their daily needs and improving the quality of their life. This is achieved through the brands the company markets. They are among the largest marketer of toilet soaps in the country with leading brands such as Cinthol, Fairglow, Godrej No 1. Companys FAIRGLOW brand, India's first Fairness soap, has created marketing history as one of the most successful innovations. Product range from Godrej PRODUCT PROFILE Renew Coloursoft Liquid Hair Colours, Soaps: Cinthol, Vigil, No.1, Evita, Fair Glow Godrej Liquid and Powder Hair Dyes to Toiletries: Deodorants, Shaving Creams, After Shave Godrej Kesh Kala oil, Nupur based Hair Hair Care: Hair Oils, Hair Dye, Shampoo Dyes. They are also the preferred supplier Household Care: Dish Wash for contract manufacturing of toilet soaps Fabric Care: Liquid Detergent for some of the most well-known brands in the country. Company Performance at a glance Companys Performance at a Glance (Rs in million) 2010-11 2009-10 2008-09 2007-08 Net Sales 24426.40 12678.80 10880.10 ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 on 2011-09-24 00:34:52 EDT. DownloadPDF. 8875.90 Operating Profit/Loss 5757.00 3165.50 1742.40 1937.40 OPM (%) 23.57 24.97 16.01 21.83 NPM (%) 17.81 19.57 14.85 16.69 Depreciation 219.80 137.50 143.70 157.00 Interest 87.60 36.60 -260.50 88.20 PAT 4349.60 2481.20 1609.10 1481.00
Source: BSE India; Cygnus Research
Key Ratios at a glance KEY RATIOS 2010-11 2009-10 0.17 0.01 0.17 0.00 1.37 1.38 23.57 24.97 17.81 19.57 28.59 36.24 28.36 29.98 2008-09 0.11 0.10 2.19 16.01 14.85 33.08 30.08 2007-08 0.89 0.82 0.92 21.83 16.69 68.45 100.32
Debt-Equity Ratio Long Term Debt-Equity Ratio Current Ratio OPM (%) NPM (%) ROCE (%) RONW (%)
Source: Company; Cygnus Research

September 2011
Sales Other Income PBIDT Interest PBDT Depreciation PBT TAX PAT
Performance Analysis of Godrej Consumer Products Ltd Quarterly Performance Financial Year Performance AMJ11 AMJ10 Var (%) 2010-11 2009-10 Var (%) 6362.30 3237.80 96.50 24426.40 12678.80 92.66 256.10 1207.10 (78.78) 332.20 506.00 (34.35) 2854.30 1891.60 50.89 5757.00 3165.50 81.87 12.70 12.50 1.60 87.60 36.60 139.34 2841.60 1879.10 51.22 5669.40 3128.90 81.19 71.10 35.60 99.72 219.80 137.50 59.85 2770.50 1843.50 50.28 5449.60 2991.40 82.18 572.10 135.90 320.97 1100.00 510.20 115.60 2198.40 1707.60 28.74 4349.60 2481.20 75.30
In 2010-11, companys net sales for the year increased by 92.66% to Rs24426.40m as compared to 2009-10. It is due to company acquired it own subsidiary Godrej Household Product ltd and launch of new products in to the market like Micro ovens, washing machines and new model refrigerators. Net profit for the year is surged by 75.30% to Rs4349.60m, while total income for the year is surged by 87.78% to Rs24758.60m when compared with the prior year period. Sales growth was driven by a strong and steady demand of recently launched products across soaps, hair colorants and toiletries ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 categories.
26,000
Revenue Performance
24,426.40
20,000 Rs mn 14,000
10,880.10 8,875.90
12,678.80
8,000 on 2011-09-24 00:34:52 EDT. DownloadPDF. 2007-08 2008-09 2009-10 2010-11

GCPL witnessed a strong growth in AMJ11, with net profit growing by 28.74% yoy. Net sales of the company have been reported to be Rs6362.30m for the June quarter of the year which was Rs3237.80m for its corresponding quarter in the previous fiscal of 2010-11. Increase in market share of key segments in India and consolidation of acquired subsidiaries are expected to drive growth in the next few quarters. International business grows yoy due to recent acquisitions. Common Size Comparison The major cost structure overhead i.e. raw material consumption cost of Godrej Consumer stood at 42.16% while it is 28.40% for Emami Ltd and 46.58% for Marico Ltd. The former company is spending less on Advertisement and Publicity cost when compared to its peers. Common Size Comparison for 2010-11 Godrej Emami Marico Other Income 1.36 1.52 0.78 Raw Materials 42.16 28.40 46.58 Traded Goods 7.28 16.02 4.54 Employees Cost 5.47 5.40 4.60 Advertisement 8.13 16.64 9.08 Other Exp. 16.04 4.62 17.63 Depreciation 0.90 9.50 1.17 Interest 0.36 -0.97 1.27 PBT 22.31 21.90 15.91 Tax 4.50 3.28 2.52
The sales performance of the Godrej has shown better results. The net sales of the godrej have shown an increase of 92.66% during 2010-11, while the sales of Emami and Marico increased by 21.28% and Source: BSE India; Cygnus Research 15.90% respectively. The net profit margin of Godrej stood at 17.81%. Emami has outperformed the other two companies by registering NPM of 18.62%. The NPM of Marico stood at 13.39%.

September 2011
Cost Structure as Percentage of Net Sales 2010-11 2009-10 2008-09 2007-08 Stock in trade -1.29 -1.19 1.92 -1.58 Raw Materials 42.16 42.68 52.43 46.34 Traded Goods 7.28 2.85 2.83 2.34 Employees Cost 5.47 9.54 5.37 6.15 Advertisement 8.13 8.02 5.80 6.92 Other exp. 16.04 17.13 16.58 18.98 Depreciation 0.90 1.08 1.32 1.77 Interest 0.36 0.29 -2.39 0.99 Tax 4.50 4.02 10.11 5.75
Cost Structure Analysis

The Raw Material consumption cost of the company stood at 42.16% as a percentage of sales. The other expenditure of the company has also decreased by 16.04% as a percentage of sales. The staff cost of the company has also decreased by 5.47%. The companys advertising expenditure has increased by 8.13%. The purchases of traded goods have increased to 7.28%. The depreciation charged has decreased marginally. The interest expenditure has stood at 0.36%. The tax paid by the company has increased to 4.50%.
Stock Performance
The sensex has seen a good turnaround during the period August 2010-July 2011. The sensex has crossed the 20,000 mark in September 2010. The investor confidence has revived a lot during this period. Share prices of the company have also seen a greater turnaround. It has increased by 17.09% to reach Rs435.70 from Rs372.10 in August 2010. Major part of the shares holds with promoters i.e. 67.28% and remaining shares are in the hands of public i.e. 32.72% as of June 2011.
120 115 110 Public ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 on 2011-09-24 00:34:52 EDT. DownloadPDF. 105 32.72% Promoters 100 67.28% 95 Jan '11 Oct '10 Mar '11 Sept '10 May '11 Dec '10 Aug '10 Feb '11 Nov '10 Apr '11 Jun '11 Jul '11 Relative Market Cap BSE Sensex Godrej
Shareholding Pattern-June 2011
Recent Strategies Godrej to develop 36-acre land bank in Mumbai. The first phase of the plan will be 6.5 lakh square feet of commercial space, of which half will house the group companies like Godrej Consumer Products Ltd (GCPL) and Godrej Properties. The other half will be leased out with expected revenues of over Rs3500m annually. Godrej Consumer Products will launch Stella air freshener brand of Megasari Makmur, the Indonesian company it had acquired recently, as it is giving away the license of Ambipur brand to Procter and Gamble.
10
September 2011
Outlook
The FMCG sector, which is the fourth largest sector in India, has performed encouragingly. It is heartening that a large amount of the growth is contributed by volume expansion which is an indication of rising demand and consumption. Higher raw material prices, rising food inflation and increasing competition may impact margins of some products but overall there is significant opportunity in this space. FMCG Companies continue to pursue expansion into Rural India. The sector is one of the countrys fastest growing sectors as the populations nominal income rises and their purchasing power parity increases. Company is extremely well positioned to maintain and accelerate its growth. The company is looking to expand presence both domestically and internationally primarily in emerging markets and in the personal wash, hair care and household insecticide spaces. There is tremendous opportunity in these businesses and Company is well equipped and ready to leverage this opportunity and establish its position as an Emerging Market FMCG Powerhouse. Net Sales and PAT of the company are expected to grow at a CAGR of 28% and 43% over 2009 to 2012E respectively.
11
September 2011
STOCK SCAN
105
Relative Market Cap performance
95
BSE Sensex Godrej C onsumer P&G BSE FMC G
85 18/07/11 19/07/11 20/07/11 21/07/11 22/07/11 25/07/11 26/07/11 27/07/11 28/07/11 29/07/11 01/08/11 02/08/11 03/08/11 04/08/11 05/08/11 08/08/11 09/08/11 10/08/11 11/08/11 11/08/11 12/08/11
105
Relative Market Cap Performance
95
BSE Sensex BSE FMC G HUL
85 18/07/11 19/07/11 20/07/11 21/07/11 22/07/11 25/07/11 26/07/11 27/07/11 28/07/11 29/07/11 01/08/11 02/08/11 03/08/11 04/08/11 05/08/11 08/08/11 09/08/11 10/08/11
Index BSE (Points) BSE FMCG (Points) HUL (Rs) Godrej (Rs) P&G (Rs) Index BSE (Points) BSE FMCG (Points) HUL (Rs) Godrej (Rs) P&G (Rs)
1st Week (18 -25 Jul 2011) Opening Closing Var(%) 18,507.04 18,871.29 1.97 4,048.85 4,076.97 0.69 332.40 331.65 -0.23 437.25 439.80 0.58 1985.30 1975.80 -0.48
2nd Week (264th Jul - 1st Aug 2011) Opening Closing Var(%) 18,518.22 18,314.33 -1.10 4,013.50 4,088.67 1.87 327.50 -1.45 322.75 437.35 428.15 -2.10 1941.90 1904.25 -1.94 4th Week (8 - 12th Aug 2011) Opening Closing Var(%) 16,857.91 16,839.63 -0.11 3,935.00 3,908.32 -0.68 319.45 -1.19 315.65 401.40 417.10 3.91 1878.05 1953.95 4.04
3rd Week (2nd - 8th Aug 2011) Opening Closing Var(%) 18,109.89 16,990.18 -6.18 4,040.05 3,882.15 -3.91 323.40 319.40 -1.24 427.60 414.75 -3.01 1893.35 1896.50 0.17
12
12/08/11
September 2011
UPCOMING EVENTS
Shop Design Sep 14-16, 2011 Expocentre Fairgrounds Moscow, Russia It features exhibitors, seminars and educational tours which provide retailers, store planners, designers and store fit out specialists with an opportunity to purchase the right solutions for their business, learn from the experts, networking and share ideas with their peers. Contact Expo-Park Exhibition Projects JSC, Office 165, 10 Krymskiy, Moscow, Russia Details Tel:+(7)-(95)-2384500; Fax:+(7)-(95)-2384516 2. Event FMCG - Russia Date Oct 17-19, 2011 Venue Marriott Grand Hotel, Moscow, Russia Highlights It is conference FMCG in Russia, 2011. More than ever before it is imperative for both retail chains and their suppliers to be at the forefront of the latest industry trends: to invest in the most profitable store formats, to stick to the most efficient business strategy. Contact Adam Smith Conferences, 29 Bressenden Place, London SW1E 5DR, UK Tel: +44 Details 20 7017 7433, Fax: +44 20 7017 7447, E-mail: frank@adamsmithconferences.com 3. Event CII Chandigarh Fair Date Oct 20-24, 2011 Venue Parade Ground Chandigarh Chandigarh, India Highlights The success of all the preceding exhibitions with increased exhibitor and visitor participation including high-volume business growth has made CII Chandigarh Fair one of the most sought after trade events in Northern India. Contact Confederation of Indian Industry, Chandigarh, Northern Region Headquarters Sector Details 31 A, Dakshin Marg, Chandigarh, India; Tel:+(91)-(172)-5080122; Fax:+(91)-(172)-2606259 ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 on 2011-09-24 00:34:52 EDT. DownloadPDF. 4. Event India Sourcing Fair - Home Products Date Oct 20-23, 2011 Venue AsiaWorld - Expo Hong Kong, China (Hong Kong S.A.R.) Highlights It is one of the leading trade fair for household and household consumable industry. The exhibition will attract many visitors form different part of the world. Contact Media Data Systems Private LimitedRaffles City P. O. Box 0203, Raffles, Singapore Details Tel:+(65)-(6547)-2888 5. Event Cambridge Home Show Date Oct 28-30, 2011 Venue Cambridge Highway 401 & Highway 24 Cambridge, Canada Highlights It will be Home Product demonstrations and the opportunity to find professional home services. Many outdoor services will be available at Cambridge Home Show such as landscaping, trees and shrubs, sod, soil, curbing, sprinkler and irrigation systems, decks, pine sheds and more. Contact Regional Shows Inc., 100 Sandiford Drive, Unit 41, Stouffville, Ontario, Canada Details Tel:+(1)-(905)-6422422; Fax:+(1)-(905)-6422660 6. Event China Sourcing Fair: Home Products-Mumbai Date Nov 23-25, 2011 Venue Bombay Exhibition Centre(BEC) Mumbai, India Highlights It will showcase the latest and innovative home products in India. It will offer best meeting grounds for visitors and exhibitors under single roof. Contact Media Data Systems Pte Ltd, Raffles City Po Box 0203, Raffles, Singapore Details Tel: +(65)-(6547)-2888 1. Event Date Venue Highlights
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Industry Monitor

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

ITC's education and stationery SBU making profits, India

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Mergers & Acquisitions

Cygnus Business Consulting & Research Pvt. Ltd., 2011

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Top 10 FMCG Advertisers in 2010 (Expenditure in Indian Market share)

0 C C L Pepsi Parle D I L TTL GC MMF AMFPL

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Source: Market Source; Cygnus Research

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Industrial Production of Soaps in India

3.83 3.80 3.78

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Industry Monitor FMCG

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Source: BSE India; Cygnus Research

8,000 on 2011-09-24 00:34:52 EDT. DownloadPDF. 2007-08 2008-09 2009-10 2010-11

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Cost Structure Analysis

Shareholding Pattern-June 2011

Source: BSE India; Cygnus Research

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

ISIEmergingMarketsPDF in-yesbank4 from 123.136.18.22 on 2011-09-24 00:34:52 EDT. DownloadPDF.

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Relative Market Cap performance

BSE Sensex Godrej C onsumer P&G BSE FMC G

Relative Market Cap Performance

BSE Sensex BSE FMC G HUL

Source: BSE India; Cygnus Research

Cygnus Business Consulting & Research Pvt. Ltd., 2011

Industry Monitor FMCG

Cygnus Business Consulting & Research Pvt. Ltd., 2011

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