| Procter & Gamble India Ltd Related news |
Vicks, Gillette, Pantene maker P&G found guilty under GST anti-profiteering
Posted on 23rd April 2019 |
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The GST profiteering investigation arm has found leading FMCG firm P&G India guilty of not passing on GST rate cut benefits to the tune of about Rs 250 crore by commensurate reduction in prices. Based on a complaint filed before the standing committee, the Directorate General of Anti profiteering (DGAP) investigated the books of accounts of P&G India pre and post November 15, 2017, and concluded that the consumer goods manufacturer has not lowered prices of certain of its products despite cut in GST rate to 18 per cent from 28 per cent. |
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P&G profiteered Rs 250 cr from GST rate cuts, says DGAP report
Posted on 22nd April 2019 |
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Procter and Gamble (P&G), a top consumer goods firm, has been charged with profiteering in a probe conducted by the Director General of Anti-Profiteering (DGAP). The company, which sells Tide detergent, Gillette razors, Head and Shoulder shampoos among other products, is found to have profiteered a total of around Rs 250 crore by not passing the benefit of tax rate cuts onto its customers, sources said. |
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Valuations call for selective approach
Posted on 2nd March 2019 |
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Consumer sector saw some pick-up in competitive intensity with P&G getting aggressive though not alarming yet. Raw material basket is comfortable, but a sudden rise in crude and copra prices needs to be watched against. Except for Britannia that talked about slowdown in the month of December, other FMCG companies didn’t highlight any slowdown though were cautious on commentary near-term with upcoming elections. ITC, APNT, NEST, DABUR and JUBI are our sector Buys. |
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Procter & Gamble sets up innovation sourcing fund in India for start-ups
Posted on 11th October 2018 |
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The world’s largest consumer goods company Procter & Gamble (P&G) on Wednesday said that it was setting up an innovation sourcing fund in India in a move aimed at identifying start-ups and organisations that had industry-leading ideas and solutions. While P&G did not specify the size of the fund, simply saying that it ran into “multi-million dollars”, the Cincinnati-based company follows its Anglo-Dutch rival Unilever |
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P&G Q4 NET PROFIT DOWN 43% TO RS 44.55 CRORE
Posted on 23rd August 2018 |
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FMCG major P&G on Wednesday reported a 42.91 per cent decline in net profit at Rs 44.55 crore for the fourth quarter ended June 30, 2018. The company, which follows July-June financial year, had posted a net profit of Rs 78.04 crore during the April-June quarter a year-ago, P&G said in a BSE filing. |
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Procter & Gamble upbeat about Indian market as biz grows in double-digits
Posted on 2nd August 2018 |
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After struggling for a few years in India, the world's largest consumer goods company Procter & Gamble (P&G) appears to be getting its mojo back in a market it considers key. On Wednesday, P&G's Global Chief Executive Officer David Taylor said India was among two markets, the other being Turkey, that grew in double-digits for the year ended June 30. P&G follows a July-June accounting year. |
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Procter & Gamble to acquire 51.8% stake in Merck in India for Rs 1,290 crore
Posted on 19th April 2018 |
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Procter & Gamble will acquire 51.80 per cent stake for Rs 1,289.88 crore in India listed drug firm Merck Ltd as part of a global deal under which it is taking over German firm Merck KGaA’s international consumer health business. The global deal is for about 3.4 billion euro (Rs 27,677 crore) in cash. P&G will acquire Merck’s majority shareholding in Merck Ltd. (India) and make a mandatory tender offer to minority shareholders. |
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P&G's new India chief, Madhusudhan Gopalan, faces a sales challenge
Posted on 26th February 2018 |
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Procter & Gamble, the world’s largest consumer goods company, announced a new India managing director-cum-chief executive officer last week. Madhusudhan Gopalan, 42, will take charge on April 1 from Al Rajwani. But this is not going to be an easy assignment for him. The pace of the India business of P&G has been slowing for some time. Gopalan, alumnus of the Indian Institute of Management at Kolkata, has been with P&G all his working life. He will have to improve sales growth, while watching profitability. |
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