|
For quarter ending June 2024, standalone Net sales (including other operating income) of Gillette India has increased 4.18% to Rs 645.33 crore compared to quarter ended June 2023. Sales of Grooming segment has gone up 7.07% to Rs 519.68 crore (accounting for 80.53% of total sales). Sales of Oral Care segment fell 6.28% to Rs 125.65 crore (accounting for 19.47% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 25.24% to Rs 152.19 crore. PBIT of Grooming segment rose 54.80% to Rs 139.21 crore (accounting for 91.47% of total PBIT). PBIT of Oral Care segment fell 58.91% to Rs 12.98 crore (accounting for 8.53% of total PBIT). PBIT margin of Grooming segment rose from 18.53% to 26.79%. PBIT margin of Oral Care segment fell from 23.56% to 10.33%. Overall PBIT margin rose from 19.62% to 23.58%. Operating profit margin has jumped from 23.19% to 27.05%, leading to 21.49% rise in operating profit to Rs 174.53 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 22.79% to 24.65%. Purchase of finished goods cost fell from 25.07% to 8.98%. Employee cost decreased from 6.39% to 6.11%. Other expenses rose from 20.94% to 33.49%. Selling and administration expenses rose from 7.63% to 17.68%. Other income fell 4.18% to Rs 4.58 crore. PBIDT rose 20.66% to Rs 179.11 crore. Provision for interest fell 15.19% to Rs 2.68 crore. Loan funds stood at Rs 0.05 crore as of 30 June 2024 to Rs 0.05 crore as of 30 June 2023. Inventories declined from Rs 412.35 crore as of 30 June 2023 to Rs 395.84 crore as of 30 June 2024. Sundry debtors were lower at Rs 274.33 crore as of 30 June 2024 compared to Rs 320.16 crore as of 30 June 2023. Cash and bank balance rose to Rs 475.63 crore as of 30 June 2024 from Rs 455.56 crore as of 30 June 2023. PBDT rose 21.44% to Rs 176.43 crore. Provision for depreciation down 2.03% to Rs 21.2 crore. Fixed assets declined from Rs 421.90 crore as of 30 June 2023 to Rs 372.85 crore as of 30 June 2024. Profit before tax grew 25.55% to Rs 155.23 crore. Provision for tax was expense of Rs 39.26 crore, compared to Rs 31.89 crore. Effective tax rate was 25.29% compared to 25.79%. Profit after tax rose 26.40% to Rs 115.97 crore. Equity capital stood at Rs 32.59 crore as of 30 June 2024 to Rs 32.59 crore as of 30 June 2023. Per share face Value remained same at Rs 10.00. Promoters’ stake was 75.00% as of 30 June 2024 ,compared to 75.00% as of 30 June 2023 .
Full year results analysis
Net sales (including other operating income) of Gillette India has increased 6.30% to Rs 2,633.08 crore. Sales of Grooming segment has gone up 8.08% to Rs 2,119.07 crore (accounting for 80.48% of total sales). Sales of Oral Care segment fell 0.47% to Rs 514.01 crore (accounting for 19.52% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 19.73% to Rs 547.38 crore. PBIT of Grooming segment rose 27.29% to Rs 480.84 crore (accounting for 87.84% of total PBIT). PBIT of Oral Care segment fell 16.22% to Rs 66.54 crore (accounting for 12.16% of total PBIT). PBIT margin of Grooming segment rose from 19.27% to 22.69%. PBIT margin of Oral Care segment fell from 15.38% to 12.95%. Overall PBIT margin rose from 18.46% to 20.79%. Operating profit margin has jumped from 21.77% to 23.83%, leading to 16.37% rise in operating profit to Rs 627.42 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 27.50% to 25.32%. Purchase of finished goods cost fell from 20.26% to 17.60%. Employee cost increased from 6.88% to 6.98%. Other expenses rose from 23.51% to 26.72%. Selling and administration expenses rose from 11.82% to 13.52%. Other income up 17.67% to Rs 26.1 crore. PBIDT rose 16.42% to Rs 653.52 crore. Provision for interest up 11.07% to Rs 8.63 crore. Loan funds stood at Rs 0.05 crore as of 30 June 2024 to Rs 0.05 crore as of 30 June 2023. Inventories declined from Rs 412.35 crore as of 30 June 2023 to Rs 395.84 crore as of 30 June 2024. Sundry debtors were lower at Rs 274.33 crore as of 30 June 2024 compared to Rs 320.16 crore as of 30 June 2023. Cash and bank balance rose to Rs 475.63 crore as of 30 June 2024 from Rs 455.56 crore as of 30 June 2023. PBDT rose 16.49% to Rs 644.89 crore. Provision for depreciation rose 2.42% to Rs 82.64 crore. Fixed assets declined from Rs 421.90 crore as of 30 June 2023 to Rs 372.85 crore as of 30 June 2024. Profit before tax grew 18.89% to Rs 562.25 crore. Provision for tax was expense of Rs 150.55 crore, compared to Rs 117.22 crore. Effective tax rate was 26.78% compared to 24.79%. Profit after tax rose 15.75% to Rs 411.70 crore. Equity capital stood at Rs 32.59 crore as of 30 June 2024 to Rs 32.59 crore as of 30 June 2023. Per share face Value remained same at Rs 10.00. Promoters’ stake was 75.00% as of 30 June 2024 ,compared to 75.00% as of 30 June 2023 . Cash flow from operating activities increased to Rs 509.04 crore for year ended June 2024 from Rs 462.60 crore for year ended June 2023. Cash flow used in acquiring fixed assets during the year ended June 2024 stood at Rs 67.24 crore, compared to Rs 78.73 crore during the year ended June 2023. Business highlights
The
board recommended a dividend of Rs 45 per Equity Share
of Rs 10 each, for the Financial Year ended June 30, 2024. The divided shall be
paid between December 3, 2024 to December 25,2024, on approval of the Members
at the 40th Annual General Meeting.
Management Comments :
V
Kumar, Managing Director, Gillette India said, “This was another strong
performance by Gillette India, delivering a balanced top-line and bottom-line
growth in the fiscal. These results were enabled by our teams’ superior
execution of the integrated strategy which we remain committed to – a focused
product portfolio of daily use categories where performance drives brand
choice, superiority (of product performance, packaging, brand communication,
retail execution and consumer and customer value), productivity, constructive
disruption, and an agile and accountable organization – all aimed at delivering
sustainable, balanced growth and value creation. This strategy is yielding
consistent results for us, and therefore remains the right way forward as we
step into the new fiscal year.”
| Gillette India : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202406 | 202306 | Var.(%) | 202406 | 202306 | Var.(%) |
|---|
| Net Sales (including other operating income) | 645.33 | 619.44 | 4.18 | 2,633.08 | 2,477.05 | 6.30 | | OPM (%) | 27.05 | 23.19 | 385 bps | 23.83 | 21.77 | 206 bps | | OP | 174.53 | 143.66 | 21.49 | 627.42 | 539.18 | 16.37 | | Other Inc. | 4.58 | 4.78 | -4.18 | 26.10 | 22.18 | 17.67 | | PBIDT | 179.11 | 148.44 | 20.66 | 653.52 | 561.36 | 16.42 | | Interest | 2.68 | 3.16 | -15.19 | 8.63 | 7.77 | 11.07 | | PBDT | 176.43 | 145.28 | 21.44 | 644.89 | 553.59 | 16.49 | | Depreciation | 21.2 | 21.64 | -2.03 | 82.64 | 80.69 | 2.42 | | PBT | 155.23 | 123.64 | 25.55 | 562.25 | 472.9 | 18.89 | | PBT before EO | 155.23 | 123.64 | 25.55 | 562.25 | 472.9 | 18.89 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 155.23 | 123.64 | 25.55 | 562.25 | 472.9 | 18.89 | | Taxation | 39.26 | 31.89 | 23.11 | 150.55 | 117.22 | 28.43 | | PAT | 115.97 | 91.75 | 26.40 | 411.7 | 355.68 | 15.75 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 115.97 | 91.75 | 26.40 | 411.7 | 355.68 | 15.75 | | EPS (Rs)* | 35.58 | 28.15 | 26.40 | 126.33 | 109.14 | 15.75 | | | * EPS is on current equity of Rs 32.59 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Gillette India : Standalone Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202406 | 202306 | Var.(%) | % of (Total) | 202406 | 202306 | Var.(%) |
|---|
| Sales | | Grooming | 80.53 | 519.68 | 485.37 | 7.07 | 80.48 | 2,119.07 | 1,960.62 | 8.08 | | Portable Power | 0.00 | 0.00 | 0.00 | - | | Oral Care | 19.47 | 125.65 | 134.07 | -6.28 | 19.52 | 514.01 | 516.43 | -0.47 | | Total Reported Sales | 100.00 | 645.33 | 619.44 | 4.18 | 100.00 | 2,633.08 | 2,477.05 | 6.30 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 645.33 | 619.44 | 4.18 | 100.00 | 2,633.08 | 2,477.05 | 6.30 | | PBIT | | Grooming | 91.47 | 139.21 | 89.93 | 54.80 | 87.84 | 480.84 | 377.74 | 27.29 | | Portable Power | 0.00 | 0.00 | 0.00 | - | | Oral Care | 8.53 | 12.98 | 31.59 | -58.91 | 12.16 | 66.54 | 79.42 | -16.22 | | Total PBIT | 100.00 | 152.19 | 121.52 | 25.24 | 100.00 | 547.38 | 457.16 | 19.73 | | Less : Interest | | 2.68 | 3.16 | -15.19 | | 8.63 | 7.77 | 11.07 | | Add: Other un-allcoable | | 5.72 | 5.28 | 8.33 | | 23.50 | 23.51 | -0.04 | | PBIT Margin(%) | | Grooming | | 26.79 | 18.53 | 825.95 | | 22.69 | 19.27 | 342.47 | | Portable Power | | 0.00 | 0.00 | 0.00 | | Oral Care | | 10.33 | 23.56 | -1,323.20 | | 12.95 | 15.38 | -243.34 | | PBT | 100.00 | 155.23 | 123.64 | 25.55 | 100.00 | 562.25 | 472.90 | 18.89 |
|
|