Stock Report

Gillette India Ltd announces fiscal and fourth quarter results

Posted On : 2022-08-22 17:20:54( TIMEZONE : IST )

Gillette India Limited (GIL) today announced its financial results for the quarter and fiscal ended June 30, 2022. Despite unprecedented headwinds from macroeconomic challenges and softening consumption trends during the fiscal, the Company delivered sales of ₹2256 crore, up 12% versus year ago behind the strength of its product portfolio and improved retail execution. Profit After Tax (PAT) was ₹289 crore, down 7%, largely behind commodity cost inflation. Compared to the fiscal two years ago, the Company's sales are up 34% and Profit After Tax (PAT) is up 26%.

For the quarter ended June 30, 2022, the Company delivered a strong performance with sales of ₹553 crore, up 27% versus year ago, driven by its superiority strategy and strong brand fundamentals. Profit After Tax (PAT) was ₹68 crore, up 145% versus year ago behind strong sales growth and productivity in the current quarter, as well as higher investment in brand building activities in the base period. Compared to the corresponding quarter two years ago, the Company's sales are up 57% and Profit After Tax (PAT) is up 50%. For the quarter, both grooming and the oral care businesses recorded double-digit growth and grew ahead of their categories.

LV Vaidyanathan, Managing Director, Gillette India Ltd. said, "Our commitment to our integrated strategies of a strong portfolio, superiority, productivity, constructive disruption, and an agile and accountable organization structure, has empowered us to deliver these consistent results this fiscal year, despite unprecedented challenges and disruptions in the macroeconomic and business landscape. This is a testament to the strength of our products and strategic choices to drive meaningful superiority across products, packaging, communication, retail execution and value proposition. Our strategy is fueled by balancing innovation and industry-leading practices, while driving productivity in everything we do. The cornerstone of all of this, is our resilient organization." He further added, "While the near-term continues to be marked by unprecedented challenges and uncertainties, we will continue to focus on our strategy which has consistently enabled us to deliver balanced growth and value creation."

The Company's brands also continued to step up as a force for good. Gillette launched the next edition of its #ShavingStereotypes campaign - #EngineeringChange (https://www.youtube.com/watch?v=xY7MqbzpH48), which urges young Indian students to introspect and rethink how education can be a steppingstone for changing more than just their own lives. The featured true story serves as an example to convey the brand's message: "Every one of us can meaningfully contribute to our communities, we just need to be aware of our true potential."

The Company continues to aspire to create positive impact across each area of Citizenship-Community Impact, Equality & Inclusion, and Environmental Sustainability. Through its flagship CSR program, P&G Shiksha, the P&G group in India has supported over 2500 schools that will impact more than 23 lakh children. Over the years P&G Shiksha has evolved into a 360-degree educational intervention addressing three critical barriers to achieving universal education - access to education infrastructure, gender inequality in access to education and gap in learning.

The directors have recommended a final dividend of ₹ 36 per Equity Share for the Financial Year ended June 30, 2022, subject to the approval of Shareholders of the company at the ensuing 38th Annual General Meeting.

Shares of Gillette India Limited was last trading in BSE at Rs. 5504.45 as compared to the previous close of Rs. 5324.05. The total number of shares traded during the day was 4285 in over 2012 trades.

The stock hit an intraday high of Rs. 5700.50 and intraday low of 5280.00. The net turnover during the day was Rs. 23493606.00.