GILLETTE INDIA Announces Quarterly Results (2QFY21); Net Profit Up 54.3%

Wed, 11 Nov

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

GILLETTE INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-19*	3 Jun-20*	3 Sep-20*	QoQ Change	YoY Change
Net Sales	Rs m	4,622	3,510	5,164	47.1%	11.7%
Other income	Rs m	17	18	35	98.9%	108.3%
Turnover	Rs m	4,639	3,527	5,199	47.4%	12.1%
Expenses	Rs m	3,643	2,702	3,840	42.1%	5.4%
Gross profit	Rs m	979	807	1,324	64.0%	35.2%
Depreciation	Rs m	122	134	134	-0.3%	9.7%
Interest	Rs m	8	24	3	-89.5%	-68.8%
Profit before tax	Rs m	866	667	1,223	83.3%	41.2%
Tax	Rs m	248	217	270	24.2%	8.7%
Profit after tax	Rs m	618	450	953	111.9%	54.3%
Gross profit margin	%	21.2	23.0	25.6
Effective tax rate	%	28.7	32.6	22.1
Net profit margin	%	13.3	12.7	18.3

Year-on-Year Performance:

• The company's operating income during the quarter grew 11.7% on a year-on-year (YoY) basis. The expenses were up by 5.4% 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 25.6% in 2QFY21 as against 21.2% in 2QFY20.
• Depreciation charges increased by 9.7% and finance costs declined by 68.8% YoY, respectively.
• Other income increased by 108.3% YoY during the quarter.
• Net profit for the quarter increased by 54.3% YoY. Net profit margins during the quarter increased from 13.3% in 2QFY20 to 18.3% in 2QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 47.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 42.1% QoQ during the same period.
• The company's operating profit increased by 64.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.6% in 2QFY21 as against 23.0% in 1QFY20.
• Net profit for the quarter increased by 111.9% QoQ, while net profit margins increased from 12.8% in 1QFY20 to 18.3% in 2QFY21.

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

Tomorrow at 5 PM: Details of Our No.1 Small Cap for 2021 Revealed

GILLETTE INDIA Share Price Performance

Over the last one year, GILLETTE INDIA share price has moved down from Rs 7,235.2 to Rs 5,594.3, registering a Loss of Rs 1,640.9 or around 22.7%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,240.4 (down 0.2%). Over the last one year it has moved down from 12,026.5 to 11,240.4, a loss of 786 points (down 6.5%).

Overall, the S&P BSE SENSEX is up 7.6% over the year.

Current Valuations

At the current price of Rs 5,594.3, the price to earnings (P/E) ratio of GILLETTE INDIA stands at 69.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 26.3 times.