Gillette India Ltd announces second quarter results

Gillette India Limited (GIL) announced today its financial results for the quarter ended December 31, 2021. In a challenging market environment, the company delivered sales of ₹563 crores, up 8% vs year ago behind strong brand fundamentals, strength of product portfolio and improved retail execution. Both Grooming and the Oral Care businesses recorded strong high single digit growth ahead of their categories. Profit After Tax (PAT) was ₹71 crores, down 14% vs year ago due to higher commodity costs and base effect of the lower advertising and promotion investments in the same quarter year ago due to the pandemic.

Gillette India Limited has now commenced marketing and selling of Braun® in India. Braun®, a subsidiary of Procter & Gamble was founded in Germany in 1921 and today is the world's most trusted grooming brand, along with Gillette®. The addition of Braun® adds an extensive product range of both male and female grooming products like electric shavers, trimmers epilators, Intense Pulse Light (IPL) hair removal devices, skin and hair care devices to the company's existing portfolio. Recently, the company also launched its globally renowned King C. Gillette line for men in India to cater to their shaving, trimming and beard care needs.

Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, "In a challenging market environment, we recorded strong sales growth during the quarter. With our continued focus on improving productivity, we were able to minimize the impact of high commodity cost inflation. We will continue to leverage advertising and promotion analytics, the strength of our product mix and drive supply chain efficiencies to improve productivity. Our strategy of driving superiority, improving productivity enabled by the strength of our organization and culture has enabled us to deliver strong results consistently and we will continue to focus on them to deliver balanced growth. In line with our strategy, we have also strengthened our grooming product portfolio with the additions of Braun and King C Gillette products to delight Indian consumers with superior grooming experience."

The company, through its 'Gillette Barber Parivar Suraksha Program' continues to provide barbers and their families with insurance and support as they return to business. As part of the company's COVID-19 relief and response program #PGSurakshaIndia program, the company continues to extend its support to communities through the donation of in-house manufactured masks and sanitizers to combat the spread of COVID-19.

The Board of Directors declared an interim dividend of ₹33 on every equity share of ₹10. The record date for the dividend will be February 10, 2022.

Shares of Gillette India Limited was last trading in BSE at Rs. 5286.55 as compared to the previous close of Rs. 5266.35. The total number of shares traded during the day was 113 in over 81 trades.

The stock hit an intraday high of Rs. 5341.00 and intraday low of 5240.20. The net turnover during the day was Rs. 596495.00.

Source : Equity Bulls

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GilletteIndia INE322A01010 Q2FY22 6MFY22 ResultUpdate