Gillette India logo

Gillette India financials and balance sheet

NSE: GILLETTEBSE: 507815Personal ProductsSmall Cap

Formerly Indian Shaving Products
Last close ₹7,220.00up ₹21.00 (0.29%)BSE ₹7,241.50

Share price at the NSE close on 23 Oct 2026. Previous close ₹7,199.00.

52-week range of traded prices to 23 Oct 2026
₹6,860.00Low, 1 Oct 2026₹9,664.00High, 31 Oct 2025
Market cap
₹23,527 Cr295th largest listed
P/E
35.2
P/B
24.9
Dividend yield
3.32%
ROE
67.8%
ROCE
93.5%
Debt to equity
0.00
Volume, NSE
34,96746.3% delivered

10 years at a glance

Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to June, then March.Gillette India annual reports

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
Peak revenue ₹3,100 Cr, year to Mar 2026

Operating and net margin, per cent

  • Operating margin
  • Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.0% of operating profit in the first full year.

The company moved its year end from June to March: its last year to June on record ended in Jun 2024, its first year to March in Mar 2025.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

  1. Revenue3,100
  2. Materials and goods−1,134
  3. Employee costs−220
  4. Other expenses−802
  5. Operating profit943
  6. Depreciation−79
  7. Other income+28
  8. One-off items0.0
  9. Finance costs−12
  10. Profit before tax880
  11. Tax−226
  12. Net profit654

What the company owns

  • Plant, investments and other assets₹685 Cr
  • Inventory₹520 Cr
  • Receivables₹398 Cr
  • Cash and bank₹269 Cr

What pays for it: net worth and liabilities

  • Net worth₹946 Cr
  • Owed to suppliers₹669 Cr
  • Other liabilities₹256 Cr

Gillette India business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Standalone, ₹ crore, as the company reports them.Gillette India segment results by quarter

Revenue by segment

₹3,100 CrTotal
  • Grooming₹2,543 Cr82.1% of total
  • Oral Care₹556 Cr17.9% of total

Profit by segment

  • Grooming₹753 Cr87.4% of total
  • Oral Care₹109 Cr12.6% of total

Segment results by year

Standalone, ₹ crore, years to June, then March.

  • Grooming

    Revenue, ₹ crore
    Profit, ₹ crore

  • Oral Care

    Revenue, ₹ crore
    Profit, ₹ crore
₹ croreJun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Mar 2025Mar 2026
Revenue of all businesses1,6771,8621,6792,0092,2562,4772,6332,2353,100
Company revenue, as in its results1,6771,8621,6792,0092,2562,4772,6332,2353,100
Revenue1,3311,4581,2841,5351,7231,9612,1191,8642,543
Revenue growth–9.5%−12.0%19.6%12.2%13.8%8.1%–36.4%
Profit293275263373338378481456753
Profit growth–−6.2%−4.5%41.9%−9.2%11.7%27.3%–64.9%
Margin22.0%18.9%20.5%24.3%19.6%19.3%22.7%24.5%29.6%
Return on capital84.2%64.1%56.3%75.9%69.6%80.7%111.8%97.3%144.0%
Assets6186566918329361,0389421,0661,131
Liabilities270227225342450570512597608
Capital employed348429467491486468430469523
Revenue346403396474533516514371556
Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Standalone, ₹ crore, years to June, then March.Gillette India quarterly results

₹ croreJun 2017Jun 2018Filed 23 AugJun 2019Filed 22 AugJun 2020Filed 27 AugJun 2021Filed 25 AugJun 2022Filed 23 AugJun 2023Filed 29 AugJun 2024Filed 30 AugMar 2025Filed 29 OctMar 2026Filed 5 Aug
Revenue from operations1,7881,6771,8621,6792,0092,2562,4772,6332,2353,100
1,4071,2951,4811,3201,5491,7741,9382,0061,6362,156
Materials and goods bought7866938197298811,0491,1881,1019151,134
Employee costs–118108119143150170187133220
Other expenses–484553472525574580717588802
Operating profit before depreciation382382381359461482539627599943
Operating margin21.3%22.8%20.5%21.4%22.9%21.4%21.8%23.8%26.8%30.4%
Materials, % of revenue–41.3%44.0%43.4%43.8%46.5%48.0%41.8%41.0%36.6%
Employee costs, % of revenue–7.0%5.8%7.1%7.1%6.7%6.9%7.1%5.9%7.1%
Other expenses, % of revenue–28.9%29.7%28.1%26.1%25.4%23.4%27.2%26.3%25.9%
Depreciation and amortisation38424851586881836479
Operating profit after depreciation343339333308403414458545535865
Other income3813141132822262828
Finance costs778551189912
One-off items–000000000
Profit before tax374345339314429411473562554880
1211168684119122117151136226
Net profit253229253230310289356412418654
Other comprehensive income–3−5−1−54−37−55
Total comprehensive income–232248229306293353419413659
Net margin14.2%13.7%13.6%13.7%15.4%12.8%14.4%15.6%18.7%21.1%
Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Jun 2017 they do not, so they are left blank.
Earlier years, Jun 2008 to Jun 2016
₹ croreJun 2008Jun 2009Jun 2010Jun 2011Jun 2012Jun 2013Jun 2014Jun 2015Jun 2016
Revenue from operations5896628521,0571,2331,4381,7501,9742,053
–5036489371,1261,3051,6671,7831,729
Materials and goods bought76102103432301361489880408
Operating profit before depreciation–15820412010713383191324
Operating margin–23.9%24.0%11.4%8.7%9.3%4.7%9.7%15.8%
Depreciation and amortisation141113202431333930
Operating profit after depreciation–1471921008310250152294
Other income193021343437329938
Finance costs–00000055
One-off items14––––––––
Profit before tax18217721313411713881246327
Tax6564764841512988114
Net profit11711313786768751158213
Net margin19.9%17.1%16.1%8.2%6.1%6.1%2.9%8.0%10.4%
Standalone, ₹ crore, years to June.

Balance sheet

Standalone, ₹ crore, at 30 June, then 31 March.

₹ croreJun 2018Filed 23 AugJun 2019Filed 22 AugJun 2020Filed 27 AugJun 2021Filed 25 AugJun 2022Filed 23 AugJun 2023Filed 29 AugJun 2024Filed 30 AugMar 2025Filed 29 OctMar 2026Filed 5 Aug
6947789117898619899711,023946
Share capital333333333333333333
Reserves662746879756829956939991914
Borrowings000000000
479353379527664816759782816
3579627983111100113109
Total assets1,2091,2101,3521,3951,6081,9161,8311,9181,871
535613587626656666644635611
6745977657699521,2501,1871,2821,260
Net debt−237−142−232−166−291−456−476−419−269
Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the year to Jun 2017, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to June, then March.

₹ croreJun 2021Filed 25 AugJun 2022Filed 23 AugJun 2023Filed 29 AugJun 2024Filed 30 AugMar 2025Filed 29 OctMar 2026Filed 5 Aug
443462463509328607
555585588660489842
63973518−127−115
Receivables−6−56−5245−104−19
Inventories−82−7−3917−58−66
Payables103132135−482516
Other working capital4828−9410−45
Tax paid−112−124−126−151−161−235
Capital spending9011679674443
Free cash flow353345384442284563
−79−112−67−49−27−16
−430−225−231−440−358−740
Dividends paid430225231440358740
Shares bought back000000
Shares issued000000
Net change in cash−6612516420−58−149
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Jun 2017, Jun 2018, Jun 2019 and Jun 2020.

Per share

Standalone, ₹ per share, years to June, then March.Gillette India dividend history

₹ per shareJun 2017Jun 2018Filed 23 AugJun 2019Filed 22 AugJun 2020Filed 27 AugJun 2021Filed 25 AugJun 2022Filed 23 AugJun 2023Filed 29 AugJun 2024Filed 30 AugMar 2025Filed 29 OctMar 2026Filed 5 Aug
Earnings per share₹77.67₹70.29₹77.62₹70.64₹95.25₹88.79₹109.15₹126.35₹128.17₹200.80
Diluted earnings per share₹77.67₹70.29₹77.62₹70.64₹95.25₹88.79₹109.15₹126.35₹128.17₹200.80
Dividend per share₹164.00₹23.00₹44.00₹49.00₹119.00₹69.00₹85.00₹130.00₹112.00₹240.00
Book value per share–₹213.00₹238.83₹279.62₹242.10₹264.25₹303.42₹298.03₹313.93₹290.41
Dividend payout211.2%32.7%56.7%69.4%125.0%77.7%77.9%102.9%87.4%119.5%
Shareholder yield––––2.3%1.4%1.4%1.9%1.4%3.1%
Market cap at the year end (₹ crore)16,65420,92024,36216,23618,48616,28616,53723,60826,14423,636

Ratios

Standalone, years to June, then March.Gillette India PE ratio and valuation

RatioJun 2017Jun 2018Filed 23 AugJun 2019Filed 22 AugJun 2020Filed 27 AugJun 2021Filed 25 AugJun 2022Filed 23 AugJun 2023Filed 29 AugJun 2024Filed 30 AugMar 2025Filed 29 OctMar 2026Filed 5 Aug
Revenue growth−12.9%−6.2%11.0%−9.8%19.7%12.3%9.8%6.3%–38.7%
Operating profit growth17.8%0.0%−0.2%−5.8%28.3%4.8%11.8%16.4%–57.4%
Net profit growth18.8%−9.5%10.4%−9.0%34.8%−6.8%22.9%15.8%–56.7%
Earnings per share growth18.8%−9.5%10.4%−9.0%34.8%−6.8%22.9%15.8%–56.7%
–33.0%34.4%27.2%36.5%35.1%38.5%42.0%40.8%66.4%
––1.4 pts−7.1 pts9.3 pts−1.4 pts3.4 pts3.6 pts–25.6 pts
From the net margin––−0.2 pts0.3 pts3.5 pts−6.2 pts4.2 pts3.4 pts–5.3 pts
From asset turnover––3.6 pts−5.1 pts3.6 pts0.8 pts−2.5 pts0.0 pts–18.6 pts
From borrowing––−2.1 pts−2.3 pts2.2 pts3.9 pts1.7 pts0.1 pts–1.7 pts
Return on capital employed–48.9%42.8%33.8%51.1%48.1%46.4%56.1%52.3%91.3%
Cash conversion––––142.8%159.5%130.1%123.6%78.5%92.7%
Interest cover50.945.542.556.676.839.359.063.162.871.7
Debt to equity–0.000.000.000.000.000.000.000.000.00
Receivable days–383641364147386247
Inventory days–105104142152130127131181167
Payable days–173125144169189209212260215
Cash conversion cycle, days–−30154019−18−35−43−17−1
Working capital days–−92033140−3−71321
Asset turnover–1.391.541.311.461.501.411.411.171.64
Assets per rupee of net worth–1.741.641.521.621.821.911.911.871.92
Sales per rupee of plant–6.346.205.666.496.216.367.596.5310.19
Capital spending to depreciation––––1.571.700.980.810.680.55
Plant being built, % of plant in use–15.3%8.2%7.1%23.3%17.9%8.3%7.5%5.1%10.9%
No balance sheet is on record for the year to Jun 2017, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year
34.5%
Cash from operations against operating profit
64.3%
Measure3 years
Return on equity, average53.6%
Return on capital employed, average71.8%
Operating margin, average28.6%
Net margin, average19.9%
Asset turnover, average1.40
Cash conversion cycle, days, average−9
Interest cover, average67.3
Debt to equity, average0.00

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ croreLatest year
Cash from operations607
Cash from investing−16
Cash from financing−740
Capital spending43
Dividends paid740
Shares bought back0
Shares issued for cash0
Borrowings raised0
Borrowings repaid0

Accounting checks

Standalone, years to June, then March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckJun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Mar 2025Mar 2026
Piotroski score, out of 9––––6566––
Altman Z-scorePublished threshold 1.81–27.6937.4625.3921.7316.2913.7919.9520.7119.53
Beneish M-scorePublished threshold −1.78––––−2.96−2.81−2.61−2.88–−2.30
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets––––−3.89−4.01−2.28−2.57–3.34
Cash from operations to profit, 3 years––––––1.431.36––
Receivables growth less revenue growthOur threshold 0 percentage points––−7.9214.86−15.8617.2415.09−20.61–−33.76
Inventory growth less cost-of-goods growthOur threshold 0 percentage points––−1.2332.458.15−17.29−2.793.30–−9.33
Other current assets growth less revenue growthOur threshold 5 per cent of revenue––−1.171.12−0.97−0.261.26−0.79–1.31
Assets under construction, years of additionsOur threshold 2 years of additions––0.290.451.020.530.300.65–0.82
Effective tax ratePublished threshold 17.16 per cent32.3933.5325.4026.6927.7329.6624.7926.7824.6325.68
Tax charged less tax paid, % of profitOur threshold 10 percentage points–––––−0.47−1.81−0.03−4.42−1.04
A threshold marked as ours has no published figure; it is the line we read the check against.