GILLETTE INDIA Announces Quarterly Results (3QFY21); Net Profit Up 15.2%

Wed, 10 Feb

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

GILLETTE INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	4,593	5,164	5,204	0.8%	13.3%
Other income	Rs m	44	35	38	8.3%	-13.3%
Turnover	Rs m	4,637	5,199	5,242	0.8%	13.1%
Expenses	Rs m	3,594	3,840	3,852	0.3%	7.2%
Gross profit	Rs m	1,000	1,324	1,352	2.1%	35.2%
Depreciation	Rs m	125	134	138	3.1%	10.1%
Interest	Rs m	19	3	20	684.0%	4.3%
Profit before tax	Rs m	899	1,223	1,232	0.8%	37.0%
Tax	Rs m	189	270	413	53.1%	119.2%
Profit after tax	Rs m	711	953	819	-14.1%	15.2%
Gross profit margin	%	21.8	25.6	26.0
Effective tax rate	%	21.0	22.1	33.5
Net profit margin	%	15.3	18.3	15.6

Year-on-Year Performance:

• The company's operating income during the quarter grew 13.3% on a year-on-year (YoY) basis. The expenses were up by 7.2% YoY during the same period.
• The company's operating profit increased by 35.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.0% in 3QFY21 as against 21.8% in 3QFY20.
• Depreciation charges increased by 10.1% and finance costs increased by 4.3% YoY, respectively.
• Other income declined by 13.3% YoY during the quarter.
• Net profit for the quarter increased by 15.2% YoY. Net profit margins during the quarter increased from 15.3% in 3QFY20 to 15.6% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 0.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.3% QoQ during the same period.
• The company's operating profit increased by 2.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.0% in 3QFY21 as against 25.6% in 2QFY20.
• Net profit for the quarter declined by 14.1% QoQ, while net profit margins declined from 18.3% in 2QFY20 to 15.6% in 3QFY21.

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 6,372.3 to Rs 5,640.0, registering a Loss of Rs 732.3 or around 11.5%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 12,589.6 (down 0.3%). Over the last one year it has moved up from 11,481.9 to 12,589.6, a gain of 1,108 points (up 9.6%).

Overall, the S&P BSE SENSEX is up 24.9% over the year.

Current Valuations

At the current price of Rs 5,640.0, the price to earnings (P/E) ratio of GILLETTE INDIA stands at 67.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 26.5 times.