NSE: GILLETTE · BSE: 507815
GILLETTE INDIA LTD
Sells branded personal care products in India across two segments. Grooming, comprising razors such as Gillette Guard and the Venus female line plus trimmers, accounted for 82.1% of FY26 segment revenue, with Oral Care (Oral-B toothbrushes) making up the remaining 17.9%. FY26 launches included Gillette Guard 3in1, Gillette Trimmers and Oral-B Sensitive, with Guard 3in1 selling roughly 1 million units in its launch month across about 6 lakh stores. Around 85% of products are manufactured in India and the company exports to more than 10 countries. The largest input cost line is materials at 23.6% of revenue, followed by other operating expenses at 25.9% and employee costs at 7.1%. The Procter & Gamble group controls the business through two promoter entities that together hold about 75% of paid-up capital. Q1 FY27 sales were Rs 783 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Grooming (82%), Oral Care (18%). Branded FMCG personal care, asset-light with capex at 1.4% of revenue
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,703 | 1,858 | 1,988 | 2,235 | 3,100 |
| EBITDA (ex other income) | 371 | 396 | 453 | 599 | 943 |
| margin % | 21.8 | 21.3 | 22.8 | 26.8 | 30.4 |
| Owners' profit | 222 | 264 | 296 | 418 | 654 |
| EPS, as reported (₹) | 68.05 | 81.00 | 90.76 | 128.17 | 200.80 |
| ROE % · ROCE % | — · — | — · — | — · — | 40.8 · 49.5 | 69.1 · 84.6 |
| Debt / equity (x) | — | — | — | 0.00 | 0.00 |
| Cash from operations | — | — | — | 328 | 607 |
| Capex | — | — | — | (44) | (43) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 782 | 686 | 767 | 707 | 811 | 790 | 792 | 783 |
| Profit before tax | 177 | 167 | 210 | 195 | 193 | 232 | 260 | 214 |
| Net profit | 133 | 126 | 159 | 146 | 144 | 172 | 193 | 159 |
| EPS (₹) | 40.82 | 38.66 | 48.70 | 44.71 | 44.08 | 52.93 | 59.08 | 48.93 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Grooming | 2,543 | 82.1 |
| Oral Care | 556 | 17.9 |
| Total, before eliminations | 3,100 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| GODREJ CONSUMER PRODUCTS | 84,803 | 44.3 | 6.70 | 27.6 | 14.7 | 19.0 | 6.6 | 19.8 |
| DABUR INDIA LTD | 63,474 | 32.2 | 5.38 | 21.2 | 15.8 | 19.8 | 6.6 | 24.3 |
| COLGATE PALMOLIVE LTD. | 43,612 | 32.4 | 27.53 | — | 83.7 | 107.1 | — | 31.3 |
| CUPID LIMITED | 42,491 | 116.2 | 94.26 | 281.8 | 24.0 | 30.3 | — | 40.3 |
| GILLETTE INDIA LTD ◆ | 23,823 | 35.7 | 25.17 | — | 69.1 | 83.4 | — | 29.8 |
| P&G HYGIENE & HEALTH CARE | 22,102 | 27.9 | 29.33 | — | 113.7 | 134.4 | — | 20.1 |
| EMAMI LIMITED | 16,061 | 21.4 | 5.50 | 15.4 | 26.5 | 28.4 | 5.6 | 23.5 |
| HONASA CONSUMER LIMITED | 14,621 | 50.4 | 10.36 | 46.0 | 14.2 | 16.9 | — | 17.6 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 35.7 | 35.7 | 8 of 15 | 50% |
| P/B | 25.2 | 6.7 | 10 of 13 | 25% |
| ROCE | 83.4 | 19.4 | 3 of 16 | 87% |
| ROE | 69.1 | 15.8 | 3 of 13 | 83% |
| Debt / Equity | 0.0 | 0.0 | 1 of 13 | 50% |
| EBITDA margin | 29.8 | 23.5 | 3 of 13 | 83% |
| Revenue growth | 10.8 | 13.4 | 9 of 14 | 39% |
| Profit growth | 9.4 | 9.4 | 7 of 13 | 50% |
| Market cap | 23823 | 9835 | 5 of 16 | 73% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Routine quarterly dematerialisation compliance certificate filed with exchanges | compliance | minimal | — | — |
| 28 Sept 2026 · Gillette India closes trading window for Q2 ending September 30, 2026 results | compliance | minimal | — | — |
| 28 Sept 2026 · Board meeting on Nov 13, 2026 to consider Q2 and H1 FY27 results | results | low | — | — |
| 25 Sept 2026 · Company Secretary Flavia Machado resigns, effective Sep 28, 2026 | management changes | medium | — | — |
| 25 Sept 2026 · Company Secretary Flavia Machado resigns effective Sept 28, 2026 | management changes | medium | — | — |
| 18 Sept 2026 · Special window for physical share transfer extended till February 2027 | compliance | minimal | — | — |
| 2 Sept 2026 · Shareholders approve three director appointments at AGM | management changes | medium | — | — |
| 1 Sept 2026 · Gillette India 42nd AGM: All 6 resolutions passed, final dividend declared | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Gillette India 42nd AGM: +8% sales growth, dividend declared, new directors appointed | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Gillette India 42nd AGM: Dividend Approved, Sales Up 8%, PAT Up 23% in FY26 | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.