FMCG company Gillette India announced Q2FY23 results: Q2FY23: In a challenging macroeconomic environment, the company delivered sales of Rs.620 crore, up 8% vs Q2FY22 behind strong brand fundamentals, the strength of product portfolio and improved retail execution, leading to market share growth. Profit After Tax (PAT) was Rs. 87 crore, up 6% vs Q2FY22 behind premiumization and deliberate productivity interventions. Compared to the corresponding pre-covid quarter three years ago, company sales are up 34% and PAT is up 41%. LV Vaidyanathan, Managing Director, Gillette India Ltd. said, “Despite continued macroeconomic challenges and significant headwinds, we have started the fiscal on a strong note with sales and profit both growing. We remain committed to our integrated strategies, which have enabled us to build and sustain strong momentum. As the near-term continues to be marked by cost and operating challenges, we remain focused on productivity and innovation to drive balanced top and bottom-line growth.” Result PDF
Personal Products firm Gillette India Announced Q1FY23 Result : Sales up 12% for the fiscal ended June 30, 2022 Sales up 27% for the quarter ended June 30, 2022 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 Rs 2,256 crore, up 12% versus year ago behind the strength of its product portfolio and improved retail execution. Profit After Tax (PAT) was Rs 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 Rs 553 crore, up 27% versus year ago, driven by its superiority strategy and strong brand fundamentals. Profit After Tax (PAT) was Rs 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.” Result PDF
Personal Products company Gillette India declares Q4FY22 result: In a challenging market environment, the company delivered sales of Rs 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 Rs 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.” Result PDF
Personal Products company Gillette India declares Q3FY22 result: Gillette India Ltd. announces second quarter results Sales up 8% for the quarter ended December 31, 2021 In a challenging market environment, the company delivered sales of Rs 563 crores, up 8% vs year ago behind strong brand fundamentals, strength of product portfolio and improved retail execution. Both Grooming and the Oral Care businesses recorded strong high single digit growth ahead of their categories. Profit After Tax (PAT) was Rs 71 crores, down 14% vs year ago due to higher commodity costs and base effect of the lower advertising and promotion investments in the same quarter year ago due to the pandemic. Gillette India Limited has now commenced marketing and selling of Braun® in India. Braun®, a subsidiary of Procter & Gamble was founded in Germany in 1921 and today is the world’s most trusted grooming brand, along with Gillette®. 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. Recently, the company also launched its globally renowned King C. Gillette line for men in India to cater to their shaving, trimming and beard care needs. Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, “In a challenging market environment, we recorded strong sales growth during the quarter. With our continued focus on improving productivity, we were able to minimize the impact of high commodity cost inflation. We will continue to leverage advertising and promotion analytics, the strength of our product mix and drive supply chain efficiencies to improve productivity. Our strategy of driving superiority, improving productivity enabled by the strength of our organization and culture has enabled us to deliver strong results consistently and we will continue to focus on them to deliver balanced growth. In line with our strategy, we have also strengthened our grooming product portfolio with the additions of Braun and King C Gillette products to delight Indian consumers with superior grooming experience.” Result PDF
Financial Highlights: Sales up 11% for the quarter ended September 30, 2021 Delivered sales of Rs. 573 crores, up 11% vs year ago Profit After Tax (PAT) was Rs. 82 crores, down 14% vs year ago Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, “In a challenging market environment and a higher base period, we have delivered double digit sales growth. As the market continues to recover, we will continue to focus on our strategy of driving superiority and productivity, enabled by strength of our organization and culture. These strategies have enabled us to deliver strong results as we navigate through the pandemic, and they remain the right strategies to deliver balanced top and bottom line growth in future.” Result PDF