Gillette India Ltd logo

Gillette India Ltd

GILLETTE NSE

Gillette India Limited is engaged in the manufacturing and selling of packaged fast moving consumer goods under its various brands in the grooming and oral care segment. Gillette sells razors and blades, shaving gel, shaving cream, and after shave through various modes like drug stores, departmental stores, grocery stores, mass merchandisers, membership club stores. [1]

AI Verdict: HOLD Confidence: 6%

Gillette India is a high-quality compounder with 49% 3-year ROE and 23% profit CAGR over 5 years, but the stock trades at 39.1x PE and 27x book value after a -21% correction in 1 year. At current valuations, the risk-reward is balanced for new entrants.

Key Fundamentals

SmallcapPersonal CareConsumer Goods
Market Cap
₹25,351 Cr
Volatility
Moderate
P/E Ratio
38.44
EBITDA
₹943 Cr
Return on Equity
35.97%
Debt to Equity
0
Book Value
₹290.41
EPS
₹118.9
52W High
₹11,500
52W Low
₹7,206

Technical Indicators

Key Insights

Strengths

5
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 23.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 49.0%
  • Company has been maintaining a healthy dividend payout of 65.0%

Weaknesses

1
  • Stock is trading at 26.8 times its book value

Growth Rate

Revenue Growth
36.98% ↗
Net Income Growth
55.24% ↗
Cash Flow Change
-35.59% ↘
ROE
-3.70% ↘
ROCE
-7.64% ↘
EBITDA Margin (Avg.)
8.81% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

Gillette India is a high-quality compounder with 49% 3-year ROE and 23% profit CAGR over 5 years, but the stock trades at 39.1x PE and 27x book value after a -21% correction in 1 year. At current valuations, the risk-reward is balanced for new entrants.

Bull Case 8
  • Exceptional return on equity of 66% in the last year, indicating highly efficient capital allocation
  • Strong 5-year compounded profit growth of 23% CAGR demonstrates consistent earnings power
  • Company is virtually debt-free, providing financial resilience and flexibility for future investments
  • TTM sales growth of 39% signals strong demand acceleration and market share gains
  • Healthy dividend payout ratio of 65% with 2.3% dividend yield offers income alongside growth
  • 3-year ROE of 49% far exceeds FMCG sector average of 20-25%, reflecting brand moat and pricing power
  • TTM profit growth of 56% shows operating leverage kicking in as revenues scale
  • 100% of analysts covering the stock have a Buy rating, reflecting institutional confidence
Bear Case 8
  • Stock trades at 27x price-to-book, one of the most expensive valuations in the Indian FMCG universe
  • 1-year stock CAGR of -21% indicates significant de-rating despite strong fundamentals
  • PE ratio of 39.1x leaves little margin of safety if growth decelerates from current TTM levels
  • 10-year stock CAGR of only 6% suggests prolonged periods of value destruction for buy-and-hold investors
  • 10-year sales CAGR of just 5% reveals historically slow topline growth before the recent spike
  • Only 1 analyst covers the stock, meaning limited institutional scrutiny and potential liquidity risk
  • 5-year stock CAGR of 7% significantly underperforms broader Nifty FMCG index returns over the same period
  • Market cap of Rs 25,467 Cr with slow historical growth makes re-rating dependent on sustained 39% revenue growth which may normalize

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 4
  • Stock 28% below 52-week high May 27

    Despite Q4 rally, stock at ₹8,319 remains 28.11% below its 52-week high of ₹11,505 and has fallen 11.65% over the past 12 months.

  • Valuation classified 'Very Expensive' May 27

    Stock trades at P/E of 41-43.6x and P/BV of 23.26x, classified as 'Very Expensive' since April 2024 with limited margin of safety for new investors.

  • Modest revenue growth in Q4 May 27

    Q4 FY26 revenue grew only 3.2% YoY to ₹792 crore, indicating top-line growth remains subdued despite strong profit expansion.

  • Grooming revenue near flat May 27

    Core grooming segment revenue grew just 1.34% YoY to ₹653.26 crore in Q4, with growth heavily dependent on margin expansion rather than volume gains.

Positives 7
  • Q4 profit surges 21% YoY May 27

    Net profit rose 21.31% to ₹192.51 crore in Q4 FY26 with EBITDA margin expanding 562 bps YoY to 35.01%, driven by total expenses declining 6% to ₹537 crore.

  • FY26 PAT up 23% to ₹654 cr May 28

    Full-year profit after tax grew 23% to ₹654.31 crore on sales of ₹3,099.53 crore (up 8% YoY), with ROE at an exceptional 53.37%.

  • Total FY26 dividend ₹240/share May 27

    Board recommended ₹60 final dividend (record date Aug 19, 2026) bringing total FY26 payout to ₹240/share including ₹120 interim and ₹60 special dividend.

  • Venus brand grows 20%+ annually Jun 16

    Women's grooming brand Venus is expanding over 20% annually with double-digit share of grooming portfolio, targeting first-time users in at-home hair removal.

  • ₹38 crore productivity savings Jun 16

    Company delivered ₹38 crore in productivity savings in FY25-26 across materials, manufacturing, advertising, working capital, and overheads; absolute profit has doubled over 5 years.

  • Oral care up 13% in Q4 May 27

    Oral care revenue reached ₹137.74 crore in Q4, marking a significant 12.88% YoY increase, supported by new Oral-B kids battery toothbrushes and sensitive toothbrush launches.

  • Stock breaks key resistance May 27

    Shares surged 6% to ₹8,366, clearing the ₹7,400-₹7,600 resistance zone with a technical breakout, recovering 13% from annual lows of ₹7,206.

Neutral 4
  • Promoter holds 40.12% stake Jun 16

    Promoter group holds 40.12% stake as of March 31, 2026 with no encumbrance reported for the year.

  • New VP appointed from July 1 Jun 12

    Girish Kalyanaraman appointed VP and Category Leader for Grooming and Oral Care effective July 1, 2026, succeeding Kapil Sharma and Shailesh Sathyanarayanan.

  • New CFO and directors appointed May 27

    Ashwath Rao becomes CFO from July 1, 2026; Krishnamurthy Iyer and Ghanashyam Hegde appointed as directors.

  • AGM scheduled August 26, 2026 May 27

    42nd AGM set for August 26, 2026 with record date of August 19 for dividend payment, to be paid by September 18, 2026.

TL;DR: Gillette India is delivering strong margin expansion (OPM from low-20s to 35%) and profit growth (PAT up 23% in FY26) driven by cost efficiencies and productivity savings, though top-line growth remains modest at 3-8%. The Venus brand and oral care provide diversification tailwinds, and shareholder returns are generous at ₹240/share in FY26 dividends. Key risks are the elevated valuation (P/E ~41x, classified 'Very Expensive') and sluggish core grooming revenue growth. The trend is improving on profitability and cash returns, but sustained re-rating requires stronger volume-led top-line acceleration.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
619
619
668
639
681
645
782
686
767
707
811
790
792
Expenses
485
476
530
483
519
470
591
503
542
496
603
542
515
Operating Profit
134
144
138
157
161
176
190
183
226
210
208
248
277
OPM %
22%
23%
21%
25%
24%
27%
24%
27%
29%
30%
26%
31%
35%
Other Income
12
5
9
7
6
5
7
9
12
7
9
8
5
Interest
1
3
1
4
4
4
1
4
3
1
4
4
3
Depreciation
22
22
20
21
21
21
19
21
25
20
20
19
19
PBT
123
124
125
139
143
155
177
167
210
195
193
232
260
Tax %
16%
26%
26%
25%
31%
25%
25%
25%
24%
25%
25%
26%
26%
Net Profit
103
92
93
104
99
116
133
126
159
146
144
172
193
EPS in Rs
31.52
28.16
28.45
31.9
30.41
35.59
40.82
38.66
48.7
44.71
44.08
52.93
59.08
Figures in ₹ Crores

Profit & Loss

  Jun 2015Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Mar 2025 9mMar 2026
Sales
1,875
1,755
1,733
1,677
1,862
1,679
1,982
2,256
2,477
2,633
2,235
3,100
Expenses
1,684
1,448
1,348
1,290
1,478
1,319
1,522
1,773
1,937
1,995
1,635
2,156
Operating Profit
191
306
385
387
384
360
460
483
540
638
600
943
OPM %
10%
17%
22%
23%
21%
21%
23%
21%
22%
24%
27%
30%
Other Income
68
50
34
8
11
11
32
7
22
20
27
28
Interest
5
6
7
7
8
5
5
11
8
13
9
12
Depreciation
39
30
38
42
48
51
58
68
81
83
64
79
PBT
215
320
374
345
339
314
429
411
473
562
554
880
Tax %
26%
33%
32%
34%
25%
27%
28%
30%
25%
27%
25%
26%
Net Profit
158
214
253
229
253
230
310
289
356
412
418
654
EPS in Rs
48.53
65.73
77.67
70.29
77.62
70.64
95.25
88.79
109
126
128
201
Div. Payout %
31%
60%
211%
33%
57%
69%
125%
78%
78%
103%
87%
30%
Figures in ₹ Crores

Balance Sheet

  Jun 2015Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Mar 2025Mar 2026
Equity Capital
33
33
33
33
33
33
33
33
33
33
33
33
Reserves
710
904
468
662
746
879
756
829
956
939
991
914
Borrowings
0
0
0
0
0
0
0
0
0
0
0
0
Other Liabilities
468
488
498
515
432
441
606
758
927
859
895
925
Total Liabilities
1,210
1,424
998
1,209
1,210
1,352
1,395
1,619
1,916
1,831
1,918
1,871
Fixed Assets
156
178
214
264
300
296
310
363
389
347
342
304
CWIP
63
88
63
40
25
21
72
65
32
26
17
33
Investments
0
0
0
0
0
0
0
0
0
0
0
0
Other Assets
991
1,158
721
904
886
1,034
1,013
1,191
1,494
1,458
1,558
1,534
Total Assets
1,210
1,424
998
1,209
1,210
1,352
1,395
1,619
1,916
1,831
1,918
1,871
Figures in ₹ Crores

Cash Flow

  Jun 2015Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Mar 2025Mar 2026
Operating
172
279
248
237
134
225
443
462
463
509
328
607
Investing
-103
155
14
-77
-65
-29
-79
-112
-67
-49
-27
-16
Financing
-58
-79
-684
-39
-165
-105
-430
-225
-231
-440
-358
-740
Net Cash Flow
12
356
-422
121
-95
91
-66
125
164
20
-58
-149
Free Cash Flow
116
213
190
156
59
190
353
345
384
442
284
564
CFO/OP
132
137
102
87
73
85
121
121
109
103
81
89
Figures in ₹ Crores

Ratios

  Jun 2015Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Mar 2025Mar 2026
Debtor Days
23
23
27
38
36
41
36
43
47
38
62
47
Inventory Days
87
104
103
105
104
136
152
130
127
131
181
167
Days Payable
116
137
150
173
126
138
169
193
209
212
260
215
Cash Conversion Cycle
-6
-10
-19
-30
15
40
19
-20
-35
-43
-17
-1
Working Capital Days
49
-10
-17
-18
15
35
14
0
-4
-7
13
21
ROCE %
35%
39%
54%
60%
48%
38%
51%
51%
52%
59%
56%
91%

Shareholding Pattern

As of Mar 2026
Promoters 75.00%
DIIs 9.25%
Public 6.76%
Others 4.62%
FIIs 4.36%
Government 0.01%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.61%
0.00%
0.71%
1.84%
3.26%
4.10%
4.33%
4.83%
5.01%
4.78%
4.36%
DIIs
10.69%
10.68%
10.54%
10.48%
10.34%
10.43%
10.36%
10.16%
10.79%
11.30%
11.08%
10.95%
12.83%
12.08%
10.79%
9.95%
9.88%
9.59%
9.15%
8.88%
9.25%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
5.64%
5.71%
5.71%
5.76%
5.79%
5.69%
5.61%
5.69%
5.99%
6.25%
6.42%
6.27%
6.43%
6.23%
6.16%
6.21%
6.06%
5.90%
6.13%
6.60%
6.76%
Others
8.67%
8.61%
8.76%
8.77%
8.87%
8.88%
9.04%
9.16%
8.23%
7.46%
6.89%
7.79%
5.03%
4.85%
4.79%
4.74%
4.72%
4.67%
4.71%
4.73%
4.62%
No. of Shareholders
47,662
48,276
48,217
49,869
51,031
49,762
47,762
47,615
48,189
50,906
50,836
49,675
51,118
47,721
50,730
51,396
52,134
49,531
52,984
60,907
62,885

Documents

Frequently Asked Questions about Gillette India Ltd

What does Gillette India Ltd do?
Gillette India Limited is engaged in the manufacturing and selling of packaged fast moving consumer goods under its various brands in the grooming and oral care segment. Gillette sells razors and blades, shaving gel, shaving cream, and after shave through various modes like drug stores, departmen...
Where is Gillette India Ltd (GILLETTE) listed?
Gillette India Ltd is listed on the Indian stock exchanges. It is listed on NSE: GILLETTE and BSE: 507815. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Gillette India Ltd belong to?
Gillette India Ltd operates in the Fast Moving Consumer Goods sector within the Personal Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Gillette India Ltd?
Gillette India Ltd has a market capitalisation of approximately ₹25351.30 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Gillette India Ltd?
The Price-to-Earnings (PE) ratio of Gillette India Ltd is 38.44. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Gillette India Ltd?
Over the past 52 weeks, Gillette India Ltd has traded between a low of ₹7,206 and a high of ₹11,500. This range helps investors understand the stock's price volatility and recent trading levels.
Does Gillette India Ltd pay dividends?
Yes, Gillette India Ltd has a dividend yield of 2.31%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Gillette India Ltd?
Gillette India Ltd has a Return on Equity (ROE) of 35.97%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Gillette India Ltd on Tapetide?
On Tapetide, you can view Gillette India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Gillette India Limited is engaged in the manufacturing and selling of packaged fast moving consumer goods under its various brands in the grooming and oral care segment. Gillette sells razors and blades, shaving gel, shaving cream, and after shave through various modes like drug stores, departmental stores, grocery stores, mass merchandisers, membership club stores. [1]

Website pg.com/en_IN
CEO Mr. Kumar Venkatasubramanian
Employees 513
Listed 2003-07-30
Face Value ₹ 10
Issued Size 3,25,85,217

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