Motilal Oswal: P&G Logs A Stellar Q1 Performance; Beat On All Fronts
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Motilal Oswal Report
Procter and Gamble Hygiene and Healthcare Ltd. reported a surprisingly strong 18.5% sales growth in Q1 FY21 (June year-end) in a difficult operating environment.
Management’s statement in the press release was also encouraging. The press release stated that growth was driven by the Feminine Hygiene segment (67% of FY20 sales), which grew in double-digits (in our view over 20%) compared to the healthcare segment, which grew in high single-digits.
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