Gillette India Ltd. announces third quarter results

Gillette India Limited (GIL) announced today its financial results for the quarter ended March 31, 2022. In a challenging market environment, the company delivered sales of ₹567 crores, up 6% vs year ago driven by strong brand fundamentals, strength of product portfolio and improved retail execution. Sales are up 40% vs. two years ago, same quarter. Profit After Tax (PAT) was ₹69.3 crores, down 34% vs year ago driven by a retrospective tax law change in the current quarter, one-time tax related help and lower marketing spending in the base period. Excluding these one-time tax items and the lower marketing spending in base period, profit was flat vs year ago.

Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, "In a challenging market environment, we recorded robust sales growth during the quarter driven by the strength of our grooming and oral care product portfolio and strong retail execution. We will focus on improving productivity to minimize the effect of commodity cost inflation which is expected to impact the industry in short to medium term. In the long-term, we will stay the course on our strategy to drive balanced top and bottom-line growth enabled by superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture."

Recently, Gillette India also strengthened its grooming product portfolio with the additions of Braun and King C Gillette products to delight Indian consumers with superior grooming experience. 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. King C. Gillette line caters to their shaving, trimming and beard care needs.

Shares of Gillette India Limited was last trading in BSE at Rs. 5104.80 as compared to the previous close of Rs. 5106.25. The total number of shares traded during the day was 157 in over 78 trades.

The stock hit an intraday high of Rs. 5143.85 and intraday low of 5076.50. The net turnover during the day was Rs. 800748.00.

Source : Equity Bulls

Keywords

GilletteIndia INE322A01010 Q3FY22 ResultUpdate