GILLETTE INDIA Announces Quarterly Results (1QFY21); Net Profit Down 1.9%

Fri, 28 Aug

GILLETTE INDIA has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

GILLETTE INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-19*	3 Mar-20*	3 Jun-20*	QoQ Change	YoY Change
Net Sales	Rs m	4,640	4,066	3,510	-13.7%	-24.4%
Other income	Rs m	24	36	18	-51.2%	-27.3%
Turnover	Rs m	4,664	4,102	3,527	-14.0%	-24.4%
Expenses	Rs m	4,340	3,261	2,702	-17.1%	-37.7%
Gross profit	Rs m	300	804	807	0.4%	169.2%
Depreciation	Rs m	127	129	134	3.7%	5.7%
Interest	Rs m	39	4	24	545.9%	-39.0%
Profit before tax	Rs m	158	708	667	-5.7%	322.2%
Tax	Rs m	-300	184	217	18.3%
Profit after tax	Rs m	458	524	450	-14.1%	-1.9%
Gross profit margin	%	6.5	19.8	23.0
Effective tax rate	%	-190.0	26.0	32.6
Net profit margin	%	9.8	12.8	12.7

Year-on-Year Performance:

• The company's operating income during the quarter fell 24.4% on a year-on-year (YoY) basis. The expenses were down by 37.7% YoY during the same period.
• The company's operating profit increased by 169.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.0% in 1QFY21 as against 6.5% in 1QFY20.
• Depreciation charges increased by 5.7% and finance costs declined by 39.0% YoY, respectively.
• Other income declined by 27.3% YoY during the quarter.
• Net profit for the quarter declined by 1.9% YoY. Net profit margins during the quarter increased from 9.8% in 1QFY20 to 12.7% in 1QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 13.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 17.1% QoQ during the same period.
• The company's operating profit increased by 0.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.0% in 1QFY21 as against 19.8% in 4QFY20.
• Net profit for the quarter declined by 14.1% QoQ, while net profit margins declined from 12.8% in 4QFY20 to 12.7% in 1QFY21.

To see how GILLETTE INDIA has performed over the last eight quarters,please visit here.

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GILLETTE INDIA Share Price Performance

Over the last one year,GILLETTE INDIA share price has moved down from Rs 7,022.8 to Rs 5,684.3, registering a Loss of Rs 1,338.5 or around 19.1%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,656.2 (up 0.3%). Over the last one year it has moved up from 10,939.8 to 11,656.2, a gain of 716 points (up 6.5%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 5,684.3, the price to earnings (P/E) ratio of GILLETTE INDIA stands at 80.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 26.7 times.