Gillette India Ltd's Q3FY18 standalone net profit declines 32.6% yoy to Rs71.3cr : Misses Estimates

The company’s standalone revenue stood at Rs451.5cr, down 14.0% yoy but up 10.8% qoq.

May 11, 2018 02:05 IST India Infoline Research Team

Gillette India Ltd Q3FY18

Standalone Results Q3FY18: (Rs. in cr)

Q3FY18 YoY (%)
Revenue 451.5 [14.0]
EBITDA 118.1 [26.0]
EBITDA Margin (%) 26.2 [424]
Net Profit (adjusted) 71.3 [32.6]
***EBITDA margin change is bps


Reco. Price


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Gillette India reported a disappointing set of numbers for the quarter. Revenue (net of excise duty in the base quarter) declined by 14% yoy to Rs451.5cr. EBITDA declined by 26% yoy to Rs118.1cr and EBITDA margin contracted by 424bps yoy to 26.2%. PAT for the quarter, thus, declined by 32.6% yoy to Rs71.3cr.
  • Grooming segment’s revenue declined significantly by 21.6% yoy. On the other hand, the oral care segment reported 16.7% yoy growth in the revenue.
  • On the EBIT front, grooming segment declined by 40.3% yoy and EBIT margin contracted by 714bps yoy. Oral care’s operating performance was encouraging, EBIT jumped by 28.4% and EBIT margin expanded by 230bps.   
  • Advertisement expense for the quarter was up 380bps yoy as percent of net sales to 13.6%.
  • Depreciation cost grew by 36.6% yoy.

Technical View:

Gillette India Ltd is currently trading at Rs. 6,550, up by 5.4 points or 0.08% from its previous closing of Rs. 6,544.60 on the BSE.
The scrip opened at Rs. 6,550 and has touched a high and low of Rs. 6,550 and Rs. 6,491 respectively. So far 11,463 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.

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