Shares of Gillette India jumped 11% in early trade on Tuesday after the razor and shaving cream maker reported a 43.5% rise in profit to Rs 133.01 crore in the September quarter 2024, compared to Rs 92.69 crore in the corresponding quarter of the previous financial year. Gillette India stock soared 11.51 per cent to Rs 9,537 against the previous close of Rs 8,552.90 on BSE. The market capitalization of the company stood at Rs 30,157 crore.

A total of 0.12 lakh shares of the company changed hands, representing a turnover of Rs 11.30 crore. The stock rose 48 percent in one year and 80 percent in two years. The stock fell to a 52-week low of Rs 5,949.50 on December 21, 2023 and touched an all-time high of Rs 9,550 on September 19, 2024.

The stock has a one-year beta of 0.4, indicating very low volatility over the period.

In technical terms, Gillette India’s Relative Strength Index (RSI) stands at 45.6, indicating that the stock is neither overbought nor oversold on the charts.

Gillette India shares are trading higher than the 5-day, 20-day, 30-day, 50-day, 100-day and 200-day moving averages. Sales soared 17.1 per cent to Rs 781.8 crore in the second quarter, compared to Rs 667.5 crore in the corresponding period last year.

EBITDA or operating profit soared 38.3 per cent to Rs 190.49 crore in the latest quarter compared to Rs 137.73 crore in the corresponding quarter of the previous fiscal. EBITDA margin improved to 24.4% from 20.6%.

The grooming sector has been a key driver of growth. Grooming revenue grew 23 per cent to Rs 648.9 crore in the first quarter, compared to Rs 527.47 crore in the previous year.

Kumar Venkatasubramanian, Managing Director, Gillette India, said, “We delivered strong double-digit growth in both top and bottom line during the quarter. These results demonstrate the execution by our teams of the integrated growth strategy, to which we remain committed: a targeted product portfolio of daily use categories where performance determines the choice of brand, superiority (of performance product, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption and an agile and accountable organization – all aimed at ensuring sustainable and balanced growth and value creation.