GILLETTE INDIA LTD
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BSE Code:
507815
NSE Code:
GILLETTE
Business Profile
Business Profile
Gillette India (GILLETTE), formerly Indian Shaving Products, is a 41.02% subsidiary of the Gillette Company, USA. The company was incorporated on 9th February 1984 in Rajasthan.
In the year 2000, Wilkinson Sword India and Duracell India were merged with Indian Shaving Products, the listed entity. The company was renamed as Gillette India. Post merger, business portfolio involves shaving products (sold under Gillette, 7`0 Clock and Wilkinson brands), battery and flashlights business (Duracell and Geep), and oral care products (Oral B). The company also entered into the ladies personal care segment with the launch of Gillette Sensor Excel for women. The company tied up with Rediff-on-the-Net e-commerce to market its products and increase its customer base. Sabre Pens, Sheen Dental Products , Klosershav Products, and Vanity Cosmetic are wholly-owned subsidiaries of the company.
In the year 2005, Gillette Company, USA was acquired worldwide through merger by Procter & Gamble Company, USA. The companies will remain as separate legal entities. The Indian subsidiary will move over to P&G`s distribution structure and gradually discontinue services of the 700+ distributors engaged in mass trade of Gillette products. The company will also follow P&G`s fiscal year (July-June), subject to necessary approvals. As part of the transition, P&G will begin buyback of stocks from the Gillette India dealers.
Financials
Gillette India disclosed that it has swung to a profit for the quarter ended March 2007.
Net sales increased 3.21 times to Rs 1,216.6 million for the quarter ended March 2007 from Rs 379.5 million for the quarter ended March 2006.
Total income rose 180.15% to Rs 1,258.7 million for the quarter ended March 2007 from Rs 449.3 million for the quarter ended March 2006.
The earnings per share (EPS) of the company stood at Rs 8.8 for the quarter ended March 2007.
Recent Developments
20-JUN-07
The company has sold its immovable property, namely general offices from the fifth to nineth floors at Global Business Park, Tower A, Mehrauli Gurgaon Road, Gurgaon for a total sum of Rs 727.5 million. The book value of the said immovable property was Rs 305.4 million as on May 31, 2007.