Godrej Consumer declares 1:1 bonus, pays Rs12 interim as Q4 net surges 212%

Godrej Consumer Products Ltd (GCPL) on Tuesday announce4d a 1:1 bonus issue (one bonus share for every equity share held), in addition to a fourth interim dividend of Rs12 per share.

The company declared its Q4 and FY2017 results and also announced that Nisaba Godrej, daughter of chairman Adi Godrej, will succeed him as the head of the company.

The company's fourth quarter consolidated net profit increased 212 per cent to Rs390 crore for Q4 in comparison with Rs125 crore in the year-ago period. Sales rose 12.2 per cent to Rs2,390 crore.

The increase in sales was driven by 10.3 per cent growth in India and 47 per cent in Africa, the company stated in a regulatory filing.

"Issue of bonus shares in the ratio of 1:1, ie, one bonus equity share of Re1 each for every one fully paid-up equity share held, as on the record date. The record date to ascertain members eligible to receive bonus shares will be fixed in due course.

"Declared a fourth interim dividend @ Rs12 per share (1200 per cent on the shares of the face value of Re1 each) for the financial year 2016-17. As intimated earlier the record date for ascertaining the names of the shareholders who will be entitled to receive the dividend is May 17, 2017. The dividend will be paid on May 31, 2017," the company said in a regulatory filing with the BSE.

Nisaba (39) is currently one of the executive directors of GCPL and with her ascendance to leadership position, Adi Godrej will be the chairman emeritus of the company.

Vivek Gambhir will continue as managing director and CEO of the company. The changes will be effective from 10 May 2017.

The GCPL stock closed 9.74 per cent higher at Rs1,929 on the BSE on Tuesday.