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.For the
quarter ending March 2022, standalone net sales (including other operating income) of Procter & Gamble Hygiene and Health Care has increased 28.12% to Rs 973.26 crore compared to quarter ended March 2021. Operating profit margin has jumped from 16.94% to 16.95%, leading to 28.22% rise in operating profit to Rs 165.01 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 32.44% to 35.39%. Purchase of finished goods cost rose from 1.52% to 10.83%. Employee cost decreased from 7.41% to 5.71%. Other expenses fell from 41.90% to 31.25%. Selling and administration expenses fell from 16.85% to 11.45%. Other income fell 59.12% to Rs 6.03 crore. PBIDT rose 19.24% to Rs 171.04 crore. Provision for interest up 131.19% to Rs 6.82 crore. PBDT rose 16.89% to Rs 164.22 crore. Provision for depreciation rose 16.52% to Rs 13.12 crore. Profit before tax grew 16.92% to Rs 151.10 crore. Provision for tax was expense of Rs 48.25 crore, compared to Rs 30.9 crore. Effective tax rate was 31.93% compared to 23.91%. Profit after tax rose 4.60% to Rs 102.85 crore. Promoters’ stake was 70.64% as of 31 March 2022 ,compared to 70.64% as of 31 March 2021 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Procter & Gamble Hygiene and Health Care has increased 12.09% to Rs 3,124.54 crore. Operating profit margin has declined from 29.04% to 24.41%, leading to 5.76% decline in operating profit to Rs 762.80 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 31.46% to 33.58%. Purchase of finished goods cost rose from 1.00% to 4.22%. Employee cost decreased from 5.74% to 5.50%. Other expenses fell from 32.72% to 32.29%. Selling and administration expenses rose from 11.80% to 11.98%. Other income fell 44.47% to Rs 18.69 crore. PBIDT fell 7.30% to Rs 781.49 crore. Provision for interest up 92.38% to Rs 10.35 crore. PBDT fell 7.94% to Rs 771.14 crore. Provision for depreciation rose 10.45% to Rs 38.7 crore. Profit before tax down 8.75% to Rs 732.44 crore. Provision for tax was expense of Rs 199.24 crore, compared to Rs 199.83 crore. Effective tax rate was 27.20% compared to 24.90%.Profit after tax fell 11.55% to Rs 533.20 crore. Promoters’ stake was 70.64% as of 31 March 2022 ,compared to 70.64% as of 31 March 2021 .
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. 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.
Management Comments :
Madhusudan
Gopalan, Managing Director, Procter & Gamble Hygiene and Health Care Ltd.
said, “In a challenging market environment, we recorded strong double-digit
sales growth driven by strong brand fundamentals and improved market execution.
Excluding the one-time impact, our productivity efforts led to a strong double
digit profit growth. As we navigate the challenging cost environment, we will
continue to focus on improving productivity by leveraging advertising and
promotion analytics, strengthening our product mix and driving supply chain
efficiencies. In the long-term, we will continue to focus on driving balanced
top and bottom-line growth enabled by our superiority strategy, improving
productivity, leading constructive disruption, and strengthening our
organization and culture.”
| Procter & Gamble Hygiene and Health Care : Standalone Results | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) | 202106 | 202006 | Var.(%) |
|---|
| Net Sales (including other operating income) | 973.26 | 759.66 | 28.12 | 3,124.54 | 2,787.55 | 12.09 | 3,574.14 | 3,001.99 | 19.06 | | OPM (%) | 16.95 | 16.94 | 1 bps | 24.41 | 29.04 | -462 bps | 24.74 | 20.11 | 463 bps | | OP | 165.01 | 128.69 | 28.22 | 762.80 | 809.40 | -5.76 | 884.28 | 603.71 | 46.47 | | Other Inc. | 6.03 | 14.75 | -59.12 | 18.69 | 33.66 | -44.47 | 39.38 | 44.11 | -10.72 | | PBIDT | 171.04 | 143.44 | 19.24 | 781.49 | 843.06 | -7.30 | 923.66 | 647.82 | 42.58 | | Interest | 6.82 | 2.95 | 131.19 | 10.35 | 5.38 | 92.38 | 6.11 | 6.07 | 0.66 | | PBDT | 164.22 | 140.49 | 16.89 | 771.14 | 837.68 | -7.94 | 917.55 | 641.75 | 42.98 | | Depreciation | 13.12 | 11.26 | 16.52 | 38.7 | 35.04 | 10.45 | 47.66 | 47.88 | -0.46 | | PBT | 151.10 | 129.23 | 16.92 | 732.44 | 802.64 | -8.75 | 869.89 | 593.87 | 46.48 | | PBT before EO | 151.1 | 129.23 | 16.92 | 732.44 | 802.64 | -8.75 | 869.89 | 593.87 | 46.48 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 151.1 | 129.23 | 16.92 | 732.44 | 802.64 | -8.75 | 869.89 | 593.87 | 46.48 | | Taxation | 48.25 | 30.9 | 56.15 | 199.24 | 199.83 | -0.30 | 218.1 | 160.79 | 35.64 | | PAT | 102.85 | 98.33 | 4.60 | 533.2 | 602.81 | -11.55 | 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 | 102.85 | 98.33 | 4.60 | 533.2 | 602.81 | -11.55 | 651.79 | 433.08 | 50.50 | | EPS (Rs)* | 31.68 | 30.29 | 4.60 | 164.26 | 185.70 | -11.55 | 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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