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Gillette India Q1FY22 Result Analysis

Gillette India Q1FY22 Result Analysis

Published on 25 August 2021 Views 87 Comments 1

Gillette India is one of the major FMCG Companies engaged in the manufacturing and selling of packaged manufacturing goods in the grooming and oral care segment. The company announced its Quarterly Result for the quarter ended 30th June 2021 on Tuesday 24th August 2021. The company follows the financial year from July to June.

1) Quarterly Result Analysis:

  • The revenue from operations of the company increased 24.2% YoY from Rs. 351 Cr. in the quarter ended 30th June 2020 to Rs. 436 Cr. in the quarter ended 30th June 2021. The revenue went down by 18.8% from Rs. 536.6 Cr. in the quarter ended 31st March 2021. Quarterly Sales grew by around 24% and were driven by market recovery and superiority strategy.
  • The Earnings before Interest, Tax, Depreciation, and Amortisation (EBITDA) of the company has gone down by 35.3% and 62.6% from Rs. 81 Cr. and Rs. 141 Cr. in the quarter ended 30th June 2020 and 31st March 2021 respectively to Rs. 52 Cr. in the quarter ended 30th June 2021.
  • The EBITDA Margin for the last quarter of the followed financial year of the company is 12% as of June 2020 down by 1,100 bps and 320 bps QoQ and YoY respectively.
  • The Profit Before Tax (PBT) of the company is Rs. 37.7 Cr. as of June 2021 against Rs. 66.7 Cr. and 146.2 Cr. in June 2020 and March 2021 respectively.
  • The Net Profit of the company stood at Rs. 27.5 Cr. in June 2021 against Rs. 45 Cr. in June 2020 and Rs. 105.6 Cr. in March 2021 down by -38.8% YoY and -74% QoQ. PAT grew by the deep focus of the company on brand building.
  • The Net Profit Margin for the June 2021 quarter is 6.3% down by 650 bps and 690 bps YoY and QoQ respectively.

Gillette India- Result Analysis

Gillette India- Result Analysis

2) Full Year Result Analysis:

  • On a full-year basis, the revenue from operations of the company has increased by 19.7% from Rs. 1,679 Cr. in the year ended 30th June 2020 to Rs. 2,009 Cr. in the year ended 30th June 2021. Sales grew by around 20% and were driven by sequential market recovery and superiority strategy.
  • The Earnings before Interest, Tax, Depreciation, and Amortisation (EBITDA) of the company have also grown by 28.3% YoY from Rs. 359 Cr. in June 2020 to Rs. 460.5 Cr. in June 2021.
  • The EBITDA Margin expanded by 150 bps YoY to 22.9% in June 2021.
  • The Net Profit of the company has grown significantly by 34.8% YoY from Rs. 230 Cr. in the year ended 30th June 2020 to Rs. 310 Cr. in the year ended 30th June 2021. Net Profit Margin for the same period was 15.4%. PAT grew by strong sales growth, productivity, and savings.
Gillette India- Full Year Result Analysis

Gillette India- Full Year Result Analysis

3) Segment Result Analysis:

  • The Revenue from the Grooming Segment of the company rose by 16.8% YoY and fell by 18.8% QoQ to Rs. 333.2 Cr. in June 2021.
  • Likely, the other segment- Oral Care witnessed a significant jump in the revenue from 56.2% YoY and down by 18.6% QoQ to Rs. 102.8 Cr. in June 2021.
  • The Revenue Mix hence stood for 76% and 24% for Grooming and Oral Care respectively as of June 2021.
  • The EBIT Mix of the segments as of June 2021 is 96% and 4% for the Grooming and Oral Care segment respectively.

Gillette India- Segment Result Analysis

Gillette India- Segment Result Analysis

4) Business Highlights:

  • For this fiscal year (ending 30th June 2021, the company reported strong sales growth, productivity, and savings. The Grooming and the Oral Care businesses recorded double-digit growth and grew ahead of their categories.
  • The Board of Directors has recommended a final dividend of Rs. 36 per equity share for the financial year ended 30th June 2021.
  • The company appointed Mr. Srinivas Maruti Patnam as an Additional (Executive) Director with effect from September 1, 2021.
  • With immediate effect, Mr. Karthik Natarajan is re-designated as a Non-Executive Director of the company.
  • Ms. Flavia Machado is appointed as the Company Secretary of the Company and Compliance Officer and will replace Mr. Ghanshyam Hegde.
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