GlaxoSmithKline Consumer Healthcare Limited announces results for the third quarter ended December 31, 2018

GlaxoSmithKline Consumer Healthcare Limited announces results for the third quarter ended December 31, 2018  

Revenue growth at 7.5%, PBT growth at 37% 

For the first 3 quarters the cumulative growth stands at 9.3% and PBT at 44% 

Gurugram, 14 February 2019: GlaxoSmithKline Consumer Healthcare Limitedtoday declared its financial results for the third quarter ended December 31, 2018. The company recorded a revenue growth of 7.5%. The quarter reported revenue of Rs. 1117 crore, while the PBT was at Rs. 347 crores, a growth of 37%.   

Commenting on the results, Navneet Saluja, Managing Director, GlaxoSmithKline Consumer Healthcare Limited said, “We have been witnessing healthy sustainable growth in our financial performance in the past few quarters. This growth is reflective of the unflinching trust that our consumers have in our products. Some of our work in the recent quarters in rural areas is hugely satisfying and makes me extremely proud. Initiatives such as the Horlicks Swasthya Abhiyan(HSA) and Village Level Entrepreneurship (VLE) have empowered thousands of women in villages, thereby enabling us to fulfil our core philosophy of doing good, while doing business.” 

“Protein deficiency, hidden hunger and stunting are some of the challenges the country faces today and have been rightly called out by the government in the National Nutrition Mission doctrine. As a brand we are committed to complement this cause by dialing our innovation portfolio and bringing to life products like Protein+ & Growth+ in the easy reach of consumers.” Saluja added. 

 Performance Highlights: 

  • Health food drink portfolio continues to be the market leader with 64.2 % volume share**
  • Base Horlicks has led the category with double-digit volume growth
  • HFD distribution stood at 1.88 MN outlets in Q3’18-19 as against 1.72 MN outlets in Q3’17-18 which is a growth of 9% in GSK reach
  • Horlicks Swasthya Abhiyan was extended to 7000 villages including rural markets
  • Execution of ‘Future Fit TN’ initiative targeting the upcountry markets of Tamil Nadu to spread awareness about stamina and fitness among school children. 

 Update on strategic review:

  • On 03 December 2018, the company announced the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc (“Unilever”) and the merger of GSK Consumer Healthcare Limited (“GSK India”) with Hindustan Unilever Limited (“HUL”)
  • On 23 January 2019, the merger deal with Hindustan Unilever Limited (HUL) was approved by the Competition Commission of India (CCI)
  • The merger is now subject to the receipt of other necessary statutory and regulatory approvals under applicable laws
  • The merger process is moving along expected timelines 

**Source: Nielsen, December ‘18 

About GlaxoSmithKline Consumer Healthcare Ltd 

GSK Consumer Healthcare Ltd is the category leader in Indian health food drinks industry. Our flagship product Horlicks leads the market, while Boost is among the top three health food drink brands that India prefers. Our manufacturing plants are located in Nabha, Rajahmundry and Sonepat. In India we have an engaged workforce of over 3800 employees. GSK also markets and distributes a range of everyday health products such as Eno, Crocin, Iodex and Sensodyne. Our marketing and distribution network comprises over 800 distributors and a direct coverage of over 8 lakh retail outlets. In addition, the company has 7267 sub-distributors and 13700 rural sub-distributors. The company has also strengthened its VLE program ensuring its products are now available across 4.5 million outlets. 

GSK Consumer Healthcare Ltd is an associate of GlaxoSmithKline plc. of U.K, one of world’s largest consumer healthcare companies. We have a heritage that goes back over 160 years. Our purpose is to help more people around the world to do more, feel better and live longer with everyday healthcare products.  Our goal is to build a global, growing business - we call a Fast-Moving Consumer Healthcare (FMCH) company - dedicated to everyday healthcare with all of the scientific expertise and quality guarantees that demands, working at the speed and with the genuine consumer understanding the modern world expects.

GSK Consumer Healthcare globally owns some of the world’s best loved healthcare brands, successful in over 100 countries. These include Sensodyne, Theraflu, Paradontax, Panadol, Polident, Otrivin, Horlicks and Physiogel.


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