MOSL: P&G HYGIENE AND HEALTHCARE (Buy) – ANNUAL REPORT UPDATE: Strong broad-based topline growth
P&G HYGIENE AND HEALTHCARE – ANNUAL REPORT UPDATE: Strong broad-based topline growth; ad spends to stabilize at lower levels
(PG IN, Mkt Cap USD6.3b, CMP INR14371, TP INR17450, 21% Upside, Buy)
Here are the key takeaways from P&G Hygiene and Healthcare (PGHH)’s FY21 Annual Report:
- Feminine Hygiene and Healthcare segments report strong growth: PGHH continued to strengthen its brand fundamentals with innovation, product launches, distribution expansion, and superior communication and execution. Sales grew 19.1% YoY in FY21, led by the Feminine Hygiene (66% of sales; up 16.7% YoY) and Healthcare (33.1% of sales; up 24.1% YoY) segments. The company does not share segmental data as a part of its quarterly results.
- Ramping up category development: Since 1995, the Whisper school program has educated more than 25m girls across India on menstrual hygiene. PGHH supported 40,000 schools, educating ~6m adolescent girls on the importance of menstrual hygiene in FY21 – despite the pandemic – via digital means. It plans to reach over 8m girls annually within the next three years. The company is committed to doubling the program’s impact by covering 50m girls within the next few years. This initiative is an important part of category development by PGHH, the category leader in the Feminine Hygiene segment, which has penetration levels of just ~20% in India.
- Vicks continues to gain market share in each of its sub-segments: PGHH continued to gain share in the Cough & Cold category, with strong offtake growth across sub-brands in the portfolio – VapoRub and BabyRub (61% of healthcare sales), cough drops (32%), and tablets (7%). Growth was driven by a) a superior go-to-market strategy, with an enhanced presence in stores with more visibility touchpoints per store, b) increased market share in the Cough & Cold category, and c) innovation backed by strong communication campaigns
Procter & Gamble Hygiene and Health Care Limited is an India-based company, which is engaged in the manufacturing and selling of branded packaged fast moving consumer goods in the femcare and healthcare businesses. The Company offers ayurvedic products and sanitary napkins. The Company is involved in manufacturing, trading and marketing of health and hygiene products. The Company's brands include Ambi Pur, Ariel, Duracell, Gillette, Head & Shoulders, Olay, Oral-B, Pampers, Pantene, Tide, Vicks, Wella and Whisper. The Company's products include ointments and creams, cough drops, tablets, personal products and toilet preparations, among others. The Company's products are sold through retail operations, including mass merchandisers, grocery stores, membership club stores, drug stores, department stores and high frequency stores. The Company has its manufacturing locations at Goa and Baddi in Himachal Pradesh, apart from third-party manufacturing locations spread across India.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.