Gillette India Q3 Review - Revenue Slightly Ahead Of Estimate; Q4 Growth To Be Optically Strong: Nirmal Bang
Procter & Gamble Co. Gillette products sit on a shelf (Photographer JB Reed Bloomberg News).

Gillette India Q3 Review - Revenue Slightly Ahead Of Estimate; Q4 Growth To Be Optically Strong: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

Gillette India Ltd.’s Q3 FY21 (June-ending FY) revenue grew by 32% YoY to Rs 5.37 billion (versus our estimate 27.7% growth to Rs 5.19 billion) on a base of 12.7% decline.

Ebitda grew by 74.8% YoY to Rs 1.41 billion (versus our estimate 67.8% growth to Rs 1.35 billion).

Adjusting for the one-time write-back of provision of ~Rs 163 million (resulting from the settlement of certain tax disputes) included in other income, profit after tax grew by 70.6% YoY to Rs 894 million.

Given the resurgence of Covid-19 cases in the country followed by vertical lockdowns, we expect some adverse impact on the topline in the very near term.

Click on the attachment to read the full report:

Nirmal Bang Gillette India-Q3FY21 Result Update- 6 May 2021.pdf

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