Zero-Debt Burden FMCG Giant To Consider Dividend On Aug 28, Buy For TP Rs 8920

Large cap FMCG giant Gillette India Ltd today informed shareholders about its upcoming meeting of Board of Directors scheduled to be held on August 28, 2024 to consider, approve financial results and dividend, if any. Current market price of Gillette India share on BSE is Rs 7352.05 per share with intraday fall of 1.13%. Gillette India shares declined over 5% in last 2-weeks and gained 44% in last 1-year.

The company has a market capitalisation of Rs 23,956.81 crore. Leading brokerage firm HDFC Securities has recommended buy call to Gillette India share with target price of Rs 8920 per share. Check details below:

Gillette India To Consider Financial Results, Dividend Soon: As per the BSE filing of Gillette India issued as on June 27, 2024, "We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, August 28, 2024, inter alia, to consider and approve Audited Financial Results and Statements for the Financial Year ended June 30, 2024 and to consider recommendation of dividend, if any."

Gillette India Share Performance: The 52-week high price of Gillette India Ltd share on BSE is Rs 7,999.95 apiece (as on 11/06/2024) and 52-week low price is Rs 5028.70 per share (as on 30/06/2023), respectively. Gillette India shares gained over 12% in last 3-months, soared 21% in last 6-months, and offered return of 48% in last 2-years.

Gillette India Dividend History: Gillette India announced 33 dividends since June 11, 2001. In last 1-year, Gillette India announced an equity dividend amounting to Rs 135.00 per share. At the current share price of Rs 7352.05, Gillette India Ltd.'s dividend yield is 1.84%.

Gillette India Shareholding Pattern: FII/FPI have increased holdings from 0.64% to 0.71% in March 2024 quarter. Number of FII/FPI investors increased from 104 to 114 in March 2024 quarter. Mutual Funds have increased holdings from 5.13% to 6.55% in March 2024 quarter. Number of MF schemes increased from 17 to 18 in March 2024 quarter. Institutional Investors have increased holdings from 11.87% to 13.54% in March 2024 quarter. Life Insurance Corporation Of India - P & Gs Fund has 5.26% stake in Gillette India with 1,713,190 shares of the company.

Gillette India Q4: The company's topline rose approximately 10% to Rs 680.7 crore for the quarter ended March 31, 2024 as against Rs 619.1 crore declared in the corresponding quarter of last year. Gillette India's profit declined more than 3% to Rs 99 crore for the March 31, 2024 quarter as against Rs 102.7 crore announced in the corresponding quarter of last year. The company's EBITDA, on the operating front, soared approximately 20% to Rs 160.3 crore for the March 2024 quarter as compared to Rs 133.7 crore declared in the similar quarter of last year. The FMCG company's EBITDA margin surged 200 basis points to 23.6% as compared to 21.6% in Q3FY2023.

About: Gillette India Limited (GIL) is one of India's well-known FMCG Companies that has some of the world's leading brands Gillette, Braun and Oral B; and has carved a reputation for delivering superior products to meet the needs of consumers. GIL brands take pride in being socially conscious as part of P&G Shiksha, the flagship CSR program of P&G Group in India, that supports the education of underprivileged children.

Disclaimer: The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.