Sales of Grooming segment has gone up 16.84% to Rs 333.18 crore (accounting for 76.42% of total sales).  Sales of Oral Care segment rose 56.21% to Rs 102.80 crore (accounting for 23.58% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 43.25% to Rs 37.28 crore.  PBIT of Grooming segment fell 27.36% to Rs 35.84 crore (accounting for 96.14% of total PBIT).  PBIT of Oral Care segment fell 91.19% to Rs 1.44 crore (accounting for 3.86% of total PBIT).  

PBIT margin of Grooming segment fell from 17.30% to 10.76%.  PBIT margin of Oral Care segment fell from 24.84% to 1.40%.  Overall PBIT margin fell from 18.72% to 8.55%.  

Operating profit margin has jumped from 23% to 12%, leading to 35.21% decline in operating profit to Rs 52.31 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 5.60% to 26.50%.   Purchase of finished goods cost fell from 35.73% to 11.40%.   Employee cost decreased from 9.26% to 7.93%.   Other expenses rose from 23.89% to 42.48%.   Selling and administration expenses rose from 4.05% to 22.61%.   

Other income up 94.32% to Rs 3.42 crore.  PBIDT fell 32.45% to Rs 55.73 crore.  Provision for interest up 7.53% to Rs 2.57 crore.  Loan funds remained nil.  Inventories rose to Rs 366.58 crore as of 30 June 2021 from Rs 284.27 crore as of 30 June 2020.  Sundry debtors were higher at Rs 197.94 crore as of 30 June 2021 compared to Rs 190.67 crore as of 30 June 2020.  Cash and bank balance declined from Rs 232.48 crore as of 30 June 2020 to Rs 166.32 crore as of 30 June 2021.  

PBDT fell 33.64% to Rs 53.16 crore.  Provision for depreciation rose 14.99% to Rs 15.42 crore.  Fixed assets increased to Rs 381.81 crore as of 30 June 2021 from Rs 317.65 crore as of 30 June 2020.  

Profit before tax down 43.42% to Rs 37.74 crore.  Provision for tax was expense of Rs 10.21 crore, compared to Rs 21.73 crore.  Effective tax rate was 27.05% compared to 32.58%.

Profit after tax fell 38.78% to Rs 27.53 crore.  

Equity capital stood at Rs 32.59 crore as of 30 June 2021 to Rs 32.59 crore as of 30 June 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 75.00% as of 30 June 2021 ,compared to 75.00% as of 30 June 2020 .  

Full year results analysis

Net sales (including other operating income) of Gillette India has increased 19.68% to Rs 2,009.42 crore.  Sales of Grooming segment has gone up 19.62% to Rs 1,535.35 crore (accounting for 76.41% of total sales).  Sales of Oral Care segment rose 19.87% to Rs 474.07 crore (accounting for 23.59% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 38.89% to Rs 424.06 crore.  PBIT of Grooming segment rose 41.86% to Rs 372.62 crore (accounting for 87.87% of total PBIT).  PBIT of Oral Care segment rose 20.61% to Rs 51.44 crore (accounting for 12.13% of total PBIT).  

PBIT margin of Grooming segment rose from 20.46% to 24.27%.  PBIT margin of Oral Care segment rose from 10.78% to 10.85%.  Overall PBIT margin rose from 18.18% to 21.10%.  

Operating profit margin has jumped from 21.38% to 22.92%, leading to 28.26% rise in operating profit to Rs 460.50 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 13.00% to 23.80%.   Purchase of finished goods cost fell from 33.17% to 20.54%.   Employee cost increased from 6.99% to 7.06%.   Other expenses rose from 25.76% to 25.89%.   Selling and administration expenses rose from 11.95% to 13.01%.   

Other income up 177.85% to Rs 31.73 crore.  PBIDT rose 32.87% to Rs 492.23 crore.  Provision for interest fell 3.49% to Rs 5.25 crore.  Loan funds remained nil.  Inventories rose to Rs 366.58 crore as of 30 June 2021 from Rs 284.27 crore as of 30 June 2020.  Sundry debtors were higher at Rs 197.94 crore as of 30 June 2021 compared to Rs 190.67 crore as of 30 June 2020.  Cash and bank balance declined from Rs 232.48 crore as of 30 June 2020 to Rs 166.32 crore as of 30 June 2021.  

PBDT rose 33.41% to Rs 486.98 crore.  Provision for depreciation rose 12.67% to Rs 57.52 crore.  Fixed assets increased to Rs 381.81 crore as of 30 June 2021 from Rs 317.65 crore as of 30 June 2020.  

Profit before tax grew 36.78% to Rs 429.46 crore.  Provision for tax was expense of Rs 119.08 crore, compared to Rs 83.79 crore.  Effective tax rate was 27.73% compared to 26.69%.

Profit after tax rose 34.84% to Rs 310.38 crore.  

Equity capital stood at Rs 32.59 crore as of 30 June 2021 to Rs 32.59 crore as of 30 June 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 75.00% as of 30 June 2021 ,compared to 75.00% as of 30 June 2020 .  

Cash flow from operating activities increased to Rs 443.16 crore for year ended June 2021 from Rs 225.22 crore for year ended June 2020.  Cash flow used in acquiring fixed assets during the year ended June 2021 stood at Rs 90.17 crore, compared to Rs 35.55 crore during the year ended June 2020. 

Other Highlights

The Board recommended a final dividend of Rs 36 per Equity Share for the Financial Year ended June 30, 2021.

Management commentary: Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, "Since the outbreak of the pandemic, we have focused on protecting the health and safety of our people, serving the Indian consumers with our health and hygiene products, and supporting communities in need through our relief efforts. Despite a challenging market environment, we have delivered double-digit growth for the fourth consecutive quarter and for the full year. Our strategy to focus on superiority and productivity, enabled by the resilience and agility of our organization is driving balanced growth."

He further added, "We are continuing to extend our support to the communities under our COVID-19 response and relief program #PGSurakshaIndiah As a P&G group, we donated INR 50 Cr towards 10 lakh vaccine doses for 5 lakh citizens in partnership with state governments and local authorities."