Gillette India Ltd. announces fiscal and fourth quarter results ended June 30, 2021

Gillette India Limited (GIL) announced today its financial results for the fiscal and quarter ended June 30, 2021. Despite a challenging market environment, the company delivered a strong performance in the fiscal with sales of ₹2,009 crores, up 20% vs year ago behind its superiority strategy and sequential market recovery. Profit After Tax (PAT) was ₹310 crores, up 35% vs year ago behind strong sales growth, productivity and savings. Both grooming and the oral care businesses recorded double-digit growth and grew ahead of their categories.

For the quarter ended June 30, 2021, the company delivered sales of ₹436 crores, up 24% versus year ago driven by its superiority strategy and market recovery. Profit After Tax (PAT) was ₹28 crores, down 39% vs year ago behind increased investment in brand building.

Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, "Since the outbreak of the pandemic, we have focused on protecting the health and safety of our people, serving the Indian consumers with our health and hygiene products, and supporting communities in need through our relief efforts. Despite a challenging market environment, we have delivered double-digit growth for the fourth consecutive quarter and for the full year. Our strategy to focus on superiority and productivity, enabled by the resilience and agility of our organization is driving balanced growth." He further added, "We are continuing to extend our support to the communities under our COVID-19 response and relief program #PGSurakshaIndiah As a P&G group, we donated INR 50 Cr towards 10 lakh vaccine doses for 5 lakh citizens in partnership with state governments and local authorities."

As an extension to its 'Gillette Barber Suraksha' program, the company launched 'Gillette Barber Parivar Suraksha Program' for the barber community that has been impacted by the pandemic. The program is aimed at providing barbers and their families with insurance and support as they return to business. As part of the #PGSurakshaIndia program, the company will also continue to extend its support to communities through the donation of in-house manufactured masks and sanitizers 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.

The directors have recommended a final dividend of ₹ 36 per Equity Share for the Financial Year ended June 30, 2021, subject to the approval of Shareholders of the company at the ensuing 37th Annual General Meeting.

Shares of Gillette India Ltd. was last trading in BSE at Rs. 5933.85 as compared to the previous close of Rs. 5961.4. The total number of shares traded during the day was 239 in over 141 trades.

The stock hit an intraday high of Rs. 5999.8 and intraday low of 5908.9. The net turnover during the day was Rs. 1423728.

Source : Equity Bulls

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