Gillette India Ltd. announces third quarter results for FY2020-21

Gillette India Limited (GIL) announced today its financial results for the quarter ended March 31, 2021. The company delivered sales of ₹537 crores and Profit After Tax (PAT) for the quarter was ₹105 crore. The growth was largely behind base impact from lockdown related material operational disruption in the corresponding period last year, a one-time write back of provision of Rs. 16.28 Crores, resulting from settlement of certain tax disputes and productivity savings.

Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, "Since the outbreak of the pandemic, our continued focus has been on protecting the health and safety of our people, serving the Indian consumers with our personal hygiene products, and supporting communities in need through our relief efforts. For the third consecutive quarter, we delivered double-digit profitable growth in a challenging environment driven by strong portfolio of trusted products and strong retail execution. Our strategy of driving superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture has enabled us to consistently deliver results and continue to be the right strategies to deliver balanced growth in the longterm." He further added, "Our sites continue to operate with the highest health and hygiene standards. Our qualified team of medical experts are working round the clock to support our people and their families on health-related queries. We are continuing to extend our support to the communities in these tough times. As a group, we recently announced our pledge to donate INR 50 Cr towards 10 lakh vaccine doses for 5 lakh citizens in partnership with state governments and local authorities."

As India fights the second wave of the pandemic, the company will continue to extend its support to the broader community via in-house manufactured masks and sanitizers especially to aid frontline and essential workers who are tirelessly working to combat the spread of COVID-19. The company will also continue to leverage its advertising and brand voice responsibly to increase awareness on health, safety and hygiene measures among consumers and support the community through its Gillette Barber Suraksha program.

The Board of Directors declared a special interim dividend of ₹50 on every equity share of ₹10. The record date for the dividend will be May 14, 2021. The company has delivered balanced growth in recent years behind its focus on driving superiority, improving productivity, and strengthening the organization culture. This year also marks a decade of Gillette Guard's launch in India. The dividend demonstrates the company's intent to reward shareholders for strong results in a competitive market environment.

Shares of GILLETTE INDIA LTD. was last trading in BSE at Rs.5452.5 as compared to the previous close of Rs. 5489.05. The total number of shares traded during the day was 241 in over 120 trades.

The stock hit an intraday high of Rs. 5519.25 and intraday low of 5442. The net turnover during the day was Rs. 1315711.

Source : Equity Bulls

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