Gillette India Ltd. announces fiscal and fourth quarter results

Gillette India Limited (GIL) announced today its financial results for the fiscal and quarter ended June 30, 2020. Business operations were disrupted across the country following the nationwide lockdown imposed to contain the spread of COVID-19. For the quarter ended June 30, 2020, the sales were ₹351 crores, down 24% vs year ago. Profit After Tax (PAT) for the quarter was ₹45 crore, down 2% vs year ago behind a one-time hurt in the corresponding quarter of the previous year. In the fiscal, the company delivered sales of ₹1,679 crores, down 10% vs year ago and Profit After Tax (PAT) of ₹230 crores, down 9% vs year ago.

Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, "During this unprecedented crisis, we are prioritizing the health and safety of our employees and maximizing the availability of our products, which play an essential role in meeting the daily health and hygiene needs of our consumers across the country. In April-May, our sales were significantly impacted due to the pandemic related lockdown, which reduced the shaving frequency among consumers. With the easing of the lockdown, we saw a sharp recovery in June/July to pre-COVID levels. While the unprecedented market challenges and uncertainties remain in the near-term, we will continue to stay focused on our strategy to drive superiority and improve productivity, and aim to drive balanced growth." He further added, "As a part of our COVID-19 relief efforts, we launched the 'Gillette Barber Suraksha program' to educate, protect and provide resources to the barber community in India as they return to business. We are providing an insurance cover of up to ₹1 lakh to barbers, educating them on raising safety and hygiene standards via videos and providing them back-to-business support through a curated product kit to meet their needs."

The company is also stepping up to serve the community by partnering with government and relief organizations through in-kind, product and critical supplies donations, and are creating awareness about preventive measures to combat the spread of COVID-19.

The directors have recommended a final dividend of ₹ 49 per Equity Share for the Financial Year ended June 30, 2020, subject to the approval of Shareholders of the company at the ensuing 36th Annual General Meeting.

Shares of GILLETTE INDIA LTD. was last trading in BSE at Rs.5549 as compared to the previous close of Rs. 5416.25. The total number of shares traded during the day was 3270 in over 976 trades.

The stock hit an intraday high of Rs. 5549 and intraday low of 5450. The net turnover during the day was Rs. 18012951.

Source : Equity Bulls

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