For
the quarter ending March 2024, standalone Net sales (including other operating income) of Gillette India has increased 9.96% to Rs 680.74 crore compared to quarter ended March 2023. Sales of Grooming segment has gone up 13.51% to Rs 557.71 crore (accounting for 81.93% of total sales). Sales of Oral Care segment fell 3.67% to Rs 123.03 crore (accounting for 18.07% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 26.87% to Rs 140.75 crore. PBIT of Grooming segment rose 30.44% to Rs 119.29 crore (accounting for 84.75% of total PBIT). PBIT of Oral Care segment rose 10.11% to Rs 21.46 crore (accounting for 15.25% of total PBIT).
PBIT margin of Grooming segment rose from 18.61% to 21.39%. PBIT margin of Oral Care segment rose from 15.26% to 17.44%. Overall PBIT margin rose from 17.92% to 20.68%.
Operating profit margin has jumped from 21.60% to 23.55%, leading to 19.92% rise in operating profit to Rs 160.34 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.89% to 21.74%. Purchase of finished goods cost rose from 21.00% to 22.38%. Employee cost decreased from 8.78% to 6.97%. Other expenses rose from 23.29% to 24.26%. Selling and administration expenses fell from 12.79% to 10.60%. Other income fell 51.66% to Rs 5.69 crore. PBIDT rose 14.13% to Rs 166.03 crore. Provision for interest up 233.77% to Rs 2.57 crore.
PBDT rose 12.96% to Rs 163.46 crore. Provision for depreciation down 5.49% to Rs 20.64 crore.
Profit before tax grew 16.24% to Rs 142.82 crore. Provision for tax was expense of Rs 43.73 crore, compared to Rs 20.17 crore. Effective tax rate was 30.62% compared to 16.42%.
Profit after tax fell 3.52% to Rs 99.09 crore.
Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Gillette India has increased 7.01% to Rs 1,987.75 crore. Sales of Grooming segment has gone up 8.41% to Rs 1,599.39 crore (accounting for 80.46% of total sales). Sales of Oral Care segment rose 1.57% to Rs 388.36 crore (accounting for 19.54% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 17.74% to Rs 395.19 crore. PBIT of Grooming segment rose 18.70% to Rs 341.62 crore (accounting for 86.44% of total PBIT). PBIT of Oral Care segment rose 12.00% to Rs 53.57 crore (accounting for 13.56% of total PBIT).
PBIT margin of Grooming segment rose from 19.51% to 21.36%. PBIT margin of Oral Care segment rose from 12.51% to 13.79%. Overall PBIT margin rose from 18.07% to 19.88%.
Operating profit margin has jumped from 21.29% to 22.78%, leading to 14.50% rise in operating profit to Rs 452.89 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.94% to 25.53%. Purchase of finished goods cost rose from 18.79% to 20.37%. Employee cost increased from 7.03% to 7.26%. Other expenses rose from 24.29% to 24.54%. Selling and administration expenses fell from 13.10% to 12.19%. Other income up 23.68% to Rs 21.52 crore. PBIDT rose 14.89% to Rs 474.41 crore. Provision for interest up 29.07% to Rs 5.95 crore.
PBDT rose 14.73% to Rs 468.46 crore. Provision for depreciation rose 4.05% to Rs 61.44 crore. Profit before tax grew 16.54% to Rs 407.02 crore. Provision for tax was expense of Rs 111.29 crore, compared to Rs 85.33 crore. Effective tax rate was 27.34% compared to 24.43%.Profit after tax rose 12.05% to Rs 295.73 crore. Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .
Full year results analysis
Net sales (including other operating income) of Gillette India has increased 9.79% to Rs 2,477.05 crore. Sales of Grooming segment has gone up 13.79% to Rs 1,960.62 crore (accounting for 79.15% of total sales). Sales of Oral Care segment fell 3.13% to Rs 516.43 crore (accounting for 20.85% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 9.92% to Rs 457.16 crore. PBIT of Grooming segment rose 11.66% to Rs 377.74 crore (accounting for 82.63% of total PBIT). PBIT of Oral Care segment rose 2.33% to Rs 79.42 crore (accounting for 17.37% of total PBIT).
PBIT margin of Grooming segment fell from 19.63% to 19.27%. PBIT margin of Oral Care segment rose from 14.56% to 15.38%. Overall PBIT margin rose from 18.43% to 18.46%.
Operating profit margin has jumped from 21.39% to 21.77%, leading to 11.75% rise in operating profit to Rs 539.18 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 26.43% to 27.50%. Purchase of finished goods cost rose from 19.64% to 20.26%. Employee cost increased from 6.71% to 6.88%. Other expenses fell from 25.66% to 23.51%. Selling and administration expenses fell from 12.90% to 11.82%. Other income up 186.56% to Rs 22.18 crore. PBIDT rose 14.51% to Rs 561.36 crore. Provision for interest fell 26.21% to Rs 7.77 crore. Loan funds stood at Rs 0.05 crore as of 30 June 2023 to Rs 0.05 crore as of 30 June 2022. Inventories rose to Rs 412.35 crore as of 30 June 2023 from Rs 373.44 crore as of 30 June 2022. Sundry debtors were higher at Rs 320.16 crore as of 30 June 2023 compared to Rs 267.01 crore as of 30 June 2022. Cash and bank balance rose to Rs 455.56 crore as of 30 June 2023 from Rs 291.07 crore as of 30 June 2022.
PBDT rose 15.41% to Rs 553.59 crore. Provision for depreciation rose 18.04% to Rs 80.69 crore. Fixed assets declined from Rs 427.99 crore as of 30 June 2022 to Rs 421.90 crore as of 30 June 2023.
Profit before tax grew 14.97% to Rs 472.90 crore. Provision for tax was expense of Rs 117.22 crore, compared to Rs 122 crore. Effective tax rate was 24.79% compared to 29.66%.
Profit after tax rose 22.93% to Rs 355.68 crore.
Promoters’ stake was 75.00% as of 30 June 2023 ,compared to 75.00% as of 30 June 2022 .
Cash flow from operating activities increased to Rs 462.60 crore for year ended June 2023 from Rs 461.53 crore for year ended June 2022. Cash flow used in acquiring fixed assets during the year ended June 2023 stood at Rs 78.73 crore, compared to Rs 116.41 crore during the year ended June 2022.
Business highlights
In
Q4 FY24, profit after tax was down 3.52% YoY due to one-time tax impacts in the
base and current quarters.