Gillette India Ltd. announces strong fourth quarter and fiscal results

Gillette India Limited (GIL) today announced its financial results for the quarter and fiscal ended June 30, 2023. During the quarter, the Company delivered a strong performance with sales of ₹619 crore, up 12% versus year ago driven by strong brand fundamentals and superior retail execution. Profit After Tax (PAT) for the quarter was ₹92 crore, up 36% versus year ago behind strong sales growth and productivity in the current quarter.

The quarter resulted in the Company ending FY 2022-23 with a double-digit growth across top-line and bottom-line. The Company delivered sales of ₹2477 crore, up 10% versus year ago, despite unprecedented headwinds from macroeconomic challenges and commodity inflation during the year. Profit After Tax (PAT) for the fiscal year, was ₹356 crore, up 23% versus year ago behind product price-mix and high productivity.

LV Vaidyanathan, Managing Director, Gillette India Ltd. said, "The April - June quarter provided a strong finish to fiscal year, closing at double digit top-line and bottom-line growth. Our consistent results can be attributed to our robust integrated growth strategies of focusing on daily use categories where performance drives brand choice, irresistible superiority (across product, packaging, communication, goto-market execution, and value), productivity, constructive disruption, and an agile and accountable organization structure and culture. These strategies build on each other and have worked for us despite a challenging operating environment and significant cost headwinds.

As we move into the new fiscal year, we will continue to focus on our growth strategies towards delivering balanced and sustained growth in a competitive macroeconomic environment."

In the year, the Company introduced new innovations to delight the Indian consumers including the relaunch of Gillette Fusion as a styling tool, Venus Swirl and Oral-B SensitiveX - a premium sensitive toothbrush. It also enhanced the irresistible superiority of its products like Gillette Guard, Oral-B Criss Cross and Oral-B Kids electric toothbrushes by innovating across multiple vectors including packaging and communication. The Company recorded the highest-ever market share in the Blades and Razors category in FY 2022-2023.

During the year, the Company continued to create a positive impact in the communities it serves, across each focus 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 continued to support thousands of schools that will impact more than 35 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 ₹ 50/- per Equity Share for the Financial Year ended June 30, 2023, subject to the approval of Shareholders of the company at the ensuing 39th Annual General Meeting.

Shares of Gillette India Limited was last trading in BSE at Rs. 5514.00 as compared to the previous close of Rs. 5524.10. The total number of shares traded during the day was 3146 in over 854 trades.

The stock hit an intraday high of Rs. 5722.00 and intraday low of 5498.45. The net turnover during the day was Rs. 17667816.00.

Source : Equity Bulls

Keywords

GilletteIndia INE322A01010 Q4FY23 FY2023 ResultUpdate