Also, godrej has 3200 acres in vikhroli of which 2700 under mangroves leaving 500 acre for development.

This is RD's recommedation for long term

This is awesome play on India as a whole.. it has got some fantastic assets .. like Godrej Hershey chocolates, Tysone foods, Nature's basket.. Godrej Agrovet is going to grow very fast in coming yrs. only and big downside is holding companies don't get full valuation. it has to be valued on consolidated earnings basis..Property biz is cherry on top.. as per one estimate value of Mumbai land can touch 1 lac cr.. in last previous interviews Mr Adi Godrej has clearly indicated that Godrej Property will be fastest growing biz for them.

Excellence in Diversity !

Q3 numbers out. Complex & Complicated but Interesting...

Total Income up 18.3% to 1024.2 Cr from 866 Cr.
EBIDTA up 32.6% to 41.83 Cr from 31.55 Cr.
PAT (but before Exceptional Items) up 143% to 21.1 Cr from 8.68 Cr.
Net Profit up 38.7% to 60.77 Cr from 43.8 Cr.

EBIDTA margin is 4.1% V/s 3.64%
Net profit margin is 5.93% V/s 5.06%
Total Raw material cost to sales is 73% V/s 75.6%

Y-t-D 9-month 2010 to 9-month 2009:
Total Income up 20.7% to 2981.82 Cr from 2470.96 Cr (FY10 Full year 3507.62 Cr)
EBIDTA up 15.2% to 102 Cr from 88.53 Cr (FY10 Full year 139.16 Cr)
Net up 45.6% to 184.63 Cr from 126.83 Cr (FY10 Full year 203.25 Cr)

Reported Nine month EPS is 5.81 V/s 3.98 (FY10 Full year 6.39)

So far so good but is clear only if one looks at the segments...

Chemicals (contributes significantly in overall sales)
Sales up 38.7% to 270.14 Cr from 194.78 Cr. 9m Sales up 26.5% to 722.58 Cr from 571.42 Cr (FY10 - 781.3 Cr)
profit up 263% to 22.89 Cr from 6.3 Cr. 9m profit up 54.3% to 55.78 cr from 36.16 Cr (FY10 - 48.46 Cr)
Margins improved to 8.47% from 3.23%. Nine month margins 7.72% V/s 6.33%

Animal feeds division (highest contributor in sales)
Sales up 13.2% to 330.35 Cr from 291.87 Cr. 9m Sales up 12.4% to 935.07 Cr from 831.91 Cr (FY10 - 1141.79 Cr)
profit up 14.8% to 11.51 Cr from 10.03Cr. 9m profit up 21.6 to 30.2 cr from 24.84 Cr (FY10 - 38.8 Cr)
Margins improved to 3.48% from 3.44%. Nine month margins 3.23% V/s 2.99%

Veg Oil segment:
Quarterly turned into black from loss.
Nine month sales up 32.4% to 537.52 Cr from 406.05 Cr.
Nine month profit 2.26 Cr from a loss of 0.47 Cr. Isn't it encouraging?

Real estate & Property Division (Contributes the most to the bottomline)
Sales up 52.4% to 79.5 Cr from 52.18 Cr. 9m Sales up 39.5 to 251 Cr from 179.87 Cr (FY10 - 483.21 Cr)
profit up 32.8% to 34.52 Cr from 26 Cr. 9m profit up 22.8% to 125.71 cr from 102.35 Cr (FY10 - 245.92 Cr)
margins however down to 43.42% from 49.81%. Nine months margin down to 50% from 57%. This can be correlated with recent results of Godrej Properties.

Beverages & Foods division still continues to bleed all throughout.

Finance & Investment division showing healthy growth both sales as well as profits.

Others segment sale growing about 30% and profits growing around 27%.

Let me state again. This is good set of numbers.

GODREJ ! You can trust this group with your eyes closed

Godrej industries has strong value with both Godrej properties and Godrej consumer and other non listed subsidiary companies. The value should be unlocked and it should be traded at least above 250