Company Name : Jyothy Laboratories Ltd

Issue Opens : 22 November, 2007
Issue Closes : 27 November, 2007
Expected Refund Date : 14 December, 2007

Issue Size : 4,430,260 (No. of Shares)

Price Bands
Lower Price Band (Rs) : 620
Upper Price Band (Rs) : 690
Total Size (Rs) : 306 Crores

Issue Allocation
Institutional: 2,215,130
HNI : 664,540
Retail : 1,550,590
Application Multiple : 10 and in multiples there off starting with atleast 10 shares
Maximum Shares : 140 (for Retail)

Cheque Drawn In Favour Of : "Escrow Account - Jyothy Public Offer - R" For Retail & HNI Bidders For HNI Bidders

Registrar to the Issue : Intime Spectrum Registry Ltd

Managers to the Issue : Enam Securities Pvt Ltd / Kotak Mahindra Capital Company Ltd

Information URL : JYOTHY LABORATORIES LTD

Company Details
Address : 43, Shivshakti Industrial Estate, Andheri Kurla Road, Marol, Mumbai - 400 059.
Email : ipo@jyothy.com
Contact Details : 912228502470 /912228501734 (fax)

Company Background:
Jyothy Laboratories Ltd, a fast moving consumer goods (FMCG) company, proposes to enter the capital market with an initial public offering of 44.30 lakh equity shares of Rs 5 each through an offer for sale by the selling shareholders, which include Canzone Ltd, ICICI Bank Canada, ICICI Bank UK Plc, South Asia Regional Fund and CDC Investment Holdings Ltd. The FMCG company deals in fabric care, household insecticide, surface cleaning, personal care and air care businesses and also offers branded products including fabric whitener, mosquito repellent, dish washing, bath and incense products. The Company’s flagship brand UJALA liquid fabric whitener had a 68% market share by value in the Indian organized segment in 2006. JLL has established a distribution network across India with a sales staff of over 1,500 people servicing 2,500 distributors. The company’s Ujala Fabric whitener is available in 2.80 million outlets in India. The Company manufactures its products through 21 facilities in 14 lacations across India, eight of which are in tax exemption units. The Company’s consolidated gross sales have grown over the last three years at a compound annual growth rate (CAGR) of 10.96%. The company’s key brands are Ujala, Maxo, Exo, Jeeva and Maya. The product line for Ujala (24 year old brand) consists of fabric whitener, fabric stiffner, and washing powder. The Maxo product line consists of mosquito repellent coils, liquid vaporizers and aerosol sprays. Exo’s product line includes dishwash bars, and dish wash liquid with an anti-bacterial agent, dish wash powder, and dish scrubbers. Key Financials for the year ended 31st June 2007 Revenue Rs.3,745.16Mln PAT Rs.481.42Mln EPS Rs.33.30 RoNW 16.51% Objects of the offer: The objects of the offer are to achieve the benefits of listing the company’s share on the Stock Exchanges and to carry out the divestment of 4,430,260 Equity Shares by their selling Shareholders. The promoters are not liquidating any part of their stake, which remains 68%.

Recommendation:
Excellent opportunity to invest in this Indian FMCG. The company has a very well known brand identity “Ujala”.

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