GlaxoSmithKline Consumer Healthcare Limited announces results for the quarter and full year ended March 31, 2019

GlaxoSmithKline Consumer Healthcare Limited announces results for the quarter andfull year ended March 31, 2019 

Revenue growth at 9%, PBT growth at 34%

  • Board of Directors of the Company recommended a Dividend at the rate of Rs. 105 per equity share for the 12 months period ended March 31, 2019 

Gurugram, 10 May 2019: GlaxoSmithKline Consumer Healthcare Limited today declared its financial results for the fourth quarter and full year ended March 31, 2019. The Revenue for the company recorded a growth of 9%. The quarter reported revenue of Rs. 1,286 crores, while the PBT is at Rs. 426 crores, which is an increase by 34% compared to last quarter. The quarter also witnessed a volume growth at 6.5%. For the full year, the revenue is Rs. 4,782 crores which is an increase by 9.3% (Comparable* revenue growth of 12%) and the PBT is at Rs. 1,512 crores, which is an increase by 41% compared to last year. 

The Board of Directors of the Company recommended a Dividend at the rate of Rs. 105 per equity share of Rs. 10 each for the year ended March 31, 2019.  

Commenting on the results, Navneet Saluja, Managing Director, GlaxoSmithKline Consumer Healthcare Limited said, “I am extremely satisfied with the consistent growth that we witnessed in this financial year, especially on Volume growth in our health drinks portfolio and the share gain achieved by our lead brand Horlicks. In the last quarter, we successfully carried out exciting unique initiatives like the Boost Sports Meet and Horlicks Exam Time. These initiatives, along with our unflinching commitment towards innovation have significantly strengthened our position in the high-science range and will further reinforce our leadership in the HFD category.”

“Another highlight has been our rural coverage, which has increased to 24,000 villages through Rural sub distributors and Village Level Entrepreneurs (VLE’s) across the 9 States where we operate. As a company, we will continue to drive the nutrition agenda for the country through various initiatives like ‘Horlicks Swasthya Abhiyan’, which are also in line with Government’s National Nutrition Mission” Mr. Saluja added.

*Comparable: Reflecting the accounting impact of GST (Excise and other tax costs under earlier regime, now subsumed under GST and netted from Turnover in base) 

 Performance Highlights:

  • Health food drink portfolio continues to be the market leader with 63.8% volume share**
  • HFD distribution stood at 1.96 MN outlets in Q4’18-19 as against 1.77 MN outlets in Q4’17-18 which is a growth of 10.6% in GSK reach
  • Base Horlicks has led the category with strong volume growth; key initiatives like Horlicks Exam Time and integrated campaigns for Junior Horlicks & Women’s Horlicks contributed to the growth
  • Horlicks Swasthya Abhiyan was extended to newer villages, covering a total of 7000 villages including rural markets
  • Boost Sports Meet’ reached a 1000 villages and schools in AP, driving the message of structured play at schools and bringing alive the winning spirit in kids 

**Source: Nielsen, March‘19 

 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)
  • Subsequent to the approval from CCI, we have received a ‘No Objection letter’ from the stock exchange on 18 February, 2019
  • The Scheme of Amalgamation with respective National Company Law Tribunals has been filed at Mumbai and Chandigarh
  • The merger is now subject to the receipt of other requisite statutory and regulatory approvals under applicable laws
  • The merger process is moving along expected timelines 

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-distributor 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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