For the
quarter ending Dec 2021, standalone net sales (including other operating income) of Procter & Gamble Hygiene and Health Care has increased 7.32% to Rs 1,092.98 crore compared to Quarter ended Dec 2020.Operating profit margin has declined from 33.62% to 27.12%, leading to 13.42% decline in operating profit to Rs 296.47 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 29.39% to 33.17%. Purchase of finished goods cost rose from 0.80% to 1.08%. Employee cost increased from 4.09% to 5.53%. Other expenses rose from 31.84% to 32.87%. Selling and administration expenses rose from 10.74% to 12.79%. Other income fell 26.63% to Rs 6.86 crore. PBIDT fell 13.77% to Rs 303.33 crore. Provision for interest up 42.03% to Rs 2.94 crore. Loan funds remained nil. Inventories rose to Rs 254.80 crore as of 31 December 2021 from Rs 191.47 crore as of 31 December 2020. Sundry debtors were lower at Rs 215.09 crore as of 31 December 2021 compared to Rs 224.21 crore as of 31 December 2020. Cash and bank balance declined from Rs 1,265.59 crore as of 31 December 2020 to Rs 1,002.27 crore as of 31 December 2021.
PBDT fell 14.10% to Rs 300.39 crore. Provision for depreciation rose 7.60% to Rs 12.89 crore. Fixed assets declined from Rs 220.09 crore as of 31 December 2020 to Rs 200.74 crore as of 31 December 2021.
Profit before tax down 14.87% to Rs 287.50 crore. Provision for tax was expense of Rs 75.44 crore, compared to Rs 87.09 crore. Effective tax rate was 26.24% compared to 25.79%.
Profit after tax fell 15.39% to Rs 212.06 crore.
Equity capital stood at Rs 32.46 crore as of 31 December 2021 to Rs 32.46 crore as of 31 December 2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.64% as of 31 December 2021 ,compared to 70.64% as of 31 December 2020 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Procter & Gamble Hygiene and Health Care has increased 6.08% to Rs 2,151.28 crore.
Operating profit margin has declined from 33.57% to 27.79%, leading to 12.18% decline in operating profit to Rs 597.79 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 31.08% to 32.75%. Purchase of finished goods cost rose from 0.80% to 1.19%. Employee cost increased from 5.11% to 5.41%. Other expenses rose from 29.21% to 32.77%. Selling and administration expenses rose from 9.87% to 12.22%. Other income fell 33.05% to Rs 12.66 crore. PBIDT fell 12.75% to Rs 610.45 crore. Provision for interest up 45.27% to Rs 3.53 crore. Loan funds remained nil. Inventories rose to Rs 254.80 crore as of 31 December 2021 from Rs 191.47 crore as of 31 December 2020. Sundry debtors were lower at Rs 215.09 crore as of 31 December 2021 compared to Rs 224.21 crore as of 31 December 2020. Cash and bank balance declined from Rs 1,265.59 crore as of 31 December 2020 to Rs 1,002.27 crore as of 31 December 2021.
PBDT fell 12.95% to Rs 606.92 crore. Provision for depreciation rose 7.57% to Rs 25.58 crore. Fixed assets declined from Rs 220.09 crore as of 31 December 2020 to Rs 200.74 crore as of 31 December 2021. Profit before tax down 13.67% to Rs 581.34 crore. Provision for tax was expense of Rs 150.99 crore, compared to Rs 168.93 crore. Effective tax rate was 25.97% compared to 25.09%.Profit after tax fell 14.69% to Rs 430.35 crore. Equity capital stood at Rs 32.46 crore as of 31 December 2021 to Rs 32.46 crore as of 31 December 2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.64% as of 31 December 2021 ,compared to 70.64% as of 31 December 2020 .
Cash flow from operating activities decreased to Rs 604.49 crore for YTD ended December 2021 from Rs 697.77 crore for YTD ended December 2020. Cash flow used in acquiring fixed assets during the YTD ended December 2021 stood at Rs 14.99 crore, compared to Rs 16.69 crore during the YTD ended December 2020.
Full year results analysis
Net sales (including other operating income) of Procter & Gamble Hygiene and Health Care has increased 19.06% to Rs 3,574.14 crore. Operating profit margin has jumped from 20.11% to 24.74%, leading to 46.47% rise in operating profit to Rs 884.28 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 35.29% to 31.48%. Purchase of finished goods cost fell from 1.74% to 1.15%. Employee cost decreased from 5.76% to 5.63%. Other expenses fell from 37.15% to 37.07%. Selling and administration expenses rose from 10.91% to 14.58%. Provisions writeoffs cost fell from 0.46% to 0.21%. Other provisions fell from 0.46% to 0.21%. Other income fell 10.72% to Rs 39.38 crore. PBIDT rose 42.58% to Rs 923.66 crore. Provision for interest up 0.66% to Rs 6.11 crore. Loan funds remained nil. Inventories rose to Rs 249.30 crore as of 30 June 2021 from Rs 205.05 crore as of 30 June 2020. Sundry debtors were lower at Rs 142.35 crore as of 30 June 2021 compared to Rs 166.34 crore as of 30 June 2020. Cash and bank balance declined from Rs 902.50 crore as of 30 June 2020 to Rs 660.24 crore as of 30 June 2021.
PBDT rose 42.98% to Rs 917.55 crore. Provision for depreciation down 0.46% to Rs 47.66 crore. Fixed assets declined from Rs 228.65 crore as of 30 June 2020 to Rs 221.39 crore as of 30 June 2021.
Profit before tax grew 46.48% to Rs 869.89 crore. Provision for tax was expense of Rs 218.1 crore, compared to Rs 160.79 crore. Effective tax rate was 25.07% compared to 27.07%.
Profit after tax rose 50.50% to Rs 651.79 crore.
Equity capital stood at Rs 32.46 crore as of 31 December 2021 to Rs 32.46 crore as of 31 December 2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.64% as of 30 June 2021 ,compared to 70.64% as of 30 June 2020 .
Cash flow from operating activities increased to Rs 863.12 crore for year ended June 2021 from Rs 473.75 crore for year ended June 2020. Cash flow used in acquiring fixed assets during the year ended June 2021 stood at Rs 31.60 crore, compared to Rs 51.02 crore during the year ended June 2020.
Other Highlights
The Board of Directors declared an interim dividend of Rs 95 on every equity share of Rs 10. The record date for the
dividend will be February 9, 2022.
Management Comments :
Madhusudan Gopalan, Managing Director, Procter & Gamble
Hygiene and Health Care Ltd. said, “In a challenging market environment, we
have delivered strong sales growth behind strong brand fundamentals and
improved market execution. As the industry faces commodity inflation
challenges, we continue to focus on improving productivity by leveraging
advertising and promotion analytics, strengthening our product mix and driving
supply chain efficiency to drive balanced top and bottom-line growth. We will
continue to focus on our strategy of driving superiority and productivity,
invest in brand building, enabled by the strength of our organization and
culture.”
| Procter & Gamble Hygiene and Health Care : Standalone Results |
| Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202106 | 202006 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,092.98 | 1,018.44 | 7.32 | 2,151.28 | 2,027.89 | 6.08 | 3,574.14 | 3,001.99 | 19.06 | | OPM (%) | 27.12 | 33.62 | -650 bps | 27.79 | 33.57 | -578 bps | 24.74 | 20.11 | 463 bps | | OP | 296.47 | 342.41 | -13.42 | 597.79 | 680.71 | -12.18 | 884.28 | 603.71 | 46.47 | | Other Inc. | 6.86 | 9.35 | -26.63 | 12.66 | 18.91 | -33.05 | 39.38 | 44.11 | -10.72 | | PBIDT | 303.33 | 351.76 | -13.77 | 610.45 | 699.62 | -12.75 | 923.66 | 647.82 | 42.58 | | Interest | 2.94 | 2.07 | 42.03 | 3.53 | 2.43 | 45.27 | 6.11 | 6.07 | 0.66 | | PBDT | 300.39 | 349.69 | -14.10 | 606.92 | 697.19 | -12.95 | 917.55 | 641.75 | 42.98 | | Depreciation | 12.89 | 11.98 | 7.60 | 25.58 | 23.78 | 7.57 | 47.66 | 47.88 | -0.46 | | PBT | 287.50 | 337.71 | -14.87 | 581.34 | 673.41 | -13.67 | 869.89 | 593.87 | 46.48 | | PBT before EO | 287.5 | 337.71 | -14.87 | 581.34 | 673.41 | -13.67 | 869.89 | 593.87 | 46.48 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 287.5 | 337.71 | -14.87 | 581.34 | 673.41 | -13.67 | 869.89 | 593.87 | 46.48 | | Taxation | 75.44 | 87.09 | -13.38 | 150.99 | 168.93 | -10.62 | 218.1 | 160.79 | 35.64 | | PAT | 212.06 | 250.62 | -15.39 | 430.35 | 504.48 | -14.69 | 651.79 | 433.08 | 50.50 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 212.06 | 250.62 | -15.39 | 430.35 | 504.48 | -14.69 | 651.79 | 433.08 | 50.50 | | EPS (Rs)* | 65.33 | 77.21 | -15.39 | 132.58 | 155.41 | -14.69 | 200.79 | 133.42 | 50.50 | | | * EPS is on current equity of Rs 32.46 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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