Gillette India Ltd announces second quarter results

Gillette India Limited (GIL) announced today its financial results for the quarter ended December 31, 2023. In a challenging operating environment, the Company delivered a balanced growth during the quarter with sales of ₹639 crore, up 3% vs year ago. Domestic sales is up 6% vs year ago, driven by a robust portfolio, superior retail execution and strong brand fundamentals. The Company reported Profit After Tax (PAT) at ₹ 104 crores, up 40% vs year ago largely driven by productivity interventions, product price-mix and moderating cost inflation.

LV Vaidyanathan, Managing Director, Gillette India Ltd. shared, "For 7 consecutive quarters now, we have delivered a balanced top-line and bottom-line growth. Our teams' execution of our integrated growth strategy has enabled us to build and sustain strong momentum. We stay committed to our strategies of a focused product portfolio of daily use categories where performance drives brand choice, superiority - across product performance, packaging, brand communication, retail execution and consumer and customer value - productivity, constructive disruption, and an agile and accountable organization. We are confident that these strategies will continue to help us deliver balanced growth and value creation."

In line with the strong performance, the company has announced an interim dividend of ₹85 per equity share for the financial year 2023-24. This interim dividend includes a onetime special dividend of ₹40 per equity share to commemorate 40 years of serving consumers, customers, shareholders, employees, and society.

Shares of Gillette India Limited was last trading in BSE at Rs. 6714.35 as compared to the previous close of Rs. 6481.45. The total number of shares traded during the day was 3716 in over 786 trades.

The stock hit an intraday high of Rs. 7123.85 and intraday low of 6475.50. The net turnover during the day was Rs. 24738955.00.

Source : Equity Bulls

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GilletteIndia INE322A01010 FinancialResults