The share price of a midcap company known for its shaving razors, moved up by 1.40 percent and is currently trading at Rs. 6,896.65 from its previous close of Rs. 6,801.4.
Nippon India Mutual Fund has bought 3.3 lakh equity shares worth Rs. 222.91 crores in Gillette India through the open market transactions at an average price of Rs. 6,755 per equity share.
However, corporate firm Adventz Finance which held 3.41 percent of the shares has sold 6 lakh shares or 1.84 percent of paid-up equity in the company amounting to Rs. 405.5 crores at an average price of Rs. 6,757.60 per share.
Gillette India Ltd. (GIL), formerly known as Indian Shaving Products Ltd incorporated in the year 1984, has a market cap of Rs. 22,031 crores and opened at Rs. 6,900 versus its previous close of Rs. 6,801.4.
Financially, the company is almost debt-free and has been maintaining a healthy dividend payout of 93.5 percent. However, it has delivered a poor sales growth of 8.12 over the past five years.
The revenue from operations grew 17.56 percent from Rs. 2,613 crores in FY21-22 to Rs. 3,072 crores in FY22-23. This revenue growth is accompanied by an increase in profits from Rs. 75 crores in FY21-22 to Rs. 87 crores in FY22-23.
As of September 2023, FIIs hold 0.61 percent of the shares whereas DIIs hold 11.08 percent, aggregating to 11.69 percent of institutional holding.
Since its listing, 75 percent of Gillette India has been held by the parent company Procter & Gamble Company USA. The consumer goods giant holds 40.12 percent directly and 34.88 percent through its subsidiaries.
The company has spent less than 1 percent of its operating revenue towards interest expenses and 6.85 percent towards employee costs in the year ending 30th June 2023.
GIL is a public company and is engaged in manufacturing and selling packaged fast-moving goods in the grooming and oral care segments. It has three primary products or services that the company manufactures or provides, that is, blades and razors, oral care and toiletries.
Written by Shivani Singh
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