Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹33,663Cr
Rev Gr TTM
Revenue Growth TTM
0.56%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

PGHH
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -9.3 | 9.8 | 8.9 | -0.3 | 13.5 | 9.3 | -0.3 | 10.1 | -1.1 | 0.6 | 1.3 | 1.1 |
| 734 | 638 | 853 | 824 | 745 | 813 | 845 | 877 | 782 | 671 | 865 | 860 |
Operating Profit Operating ProfitCr |
| 16.9 | 25.2 | 25.0 | 27.3 | 25.7 | 12.7 | 25.6 | 29.7 | 21.1 | 28.4 | 24.8 | 31.8 |
Other Income Other IncomeCr | 14 | 10 | 16 | 16 | 14 | 7 | 9 | 10 | 19 | 8 | 10 | 12 |
Interest Expense Interest ExpenseCr | 4 | 3 | 2 | 3 | 22 | 0 | 2 | 7 | 6 | 0 | 4 | 3 |
Depreciation DepreciationCr | 15 | 15 | 14 | 14 | 15 | 13 | 12 | 10 | 10 | 9 | 9 | 10 |
| 146 | 207 | 284 | 309 | 234 | 112 | 285 | 364 | 213 | 265 | 282 | 402 |
| -19 | 55 | 74 | 80 | 80 | 31 | 73 | 96 | 57 | 73 | 72 | 101 |
|
Growth YoY PAT Growth YoY% | 60.5 | 255.4 | 36.5 | 10.3 | -6.5 | -46.4 | 0.6 | 17.3 | 1.1 | 136.9 | -1.0 | 12.2 |
| 18.7 | 17.7 | 18.5 | 20.2 | 15.4 | 8.7 | 18.7 | 21.5 | 15.7 | 20.5 | 18.3 | 23.9 |
| 50.8 | 46.6 | 64.9 | 70.5 | 47.6 | 25.0 | 65.3 | 82.7 | 48.1 | 59.2 | 64.7 | 92.9 |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Mar 2025 | TTM |
|---|
|
| | -2.5 | 2.0 | 5.8 | 20.0 | 1.9 | 19.1 | 9.1 | 0.4 | 7.3 | | 28.6 |
| 1,849 | 1,670 | 1,656 | 1,840 | 2,338 | 2,398 | 2,690 | 3,071 | 3,049 | 3,235 | 2,503 | 3,178 |
Operating Profit Operating ProfitCr |
| 20.8 | 26.6 | 28.6 | 25.1 | 20.7 | 20.1 | 24.7 | 21.3 | 22.2 | 23.1 | 25.8 | 26.8 |
Other Income Other IncomeCr | 75 | 88 | 77 | 24 | 53 | 44 | 39 | 24 | 41 | 52 | 37 | 49 |
Interest Expense Interest ExpenseCr | 6 | 6 | 10 | 5 | 5 | 6 | 6 | 11 | 11 | 27 | 14 | 12 |
Depreciation DepreciationCr | 53 | 52 | 60 | 52 | 50 | 48 | 48 | 53 | 58 | 57 | 32 | 38 |
| 501 | 636 | 672 | 582 | 607 | 594 | 870 | 790 | 839 | 939 | 862 | 1,161 |
| 155 | 213 | 239 | 207 | 188 | 161 | 218 | 214 | 161 | 264 | 226 | 302 |
|
| | 22.1 | 2.4 | -13.4 | 11.9 | 3.3 | 50.5 | -11.7 | 17.8 | -0.5 | | 35.0 |
| 14.8 | 18.6 | 18.6 | 15.3 | 14.2 | 14.4 | 18.2 | 14.8 | 17.3 | 16.1 | 18.9 | 19.8 |
| 106.6 | 130.2 | 133.3 | 115.4 | 129.1 | 133.4 | 200.8 | 177.4 | 208.9 | 207.9 | 196.1 | 264.8 |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 |
| 1,196 | 1,619 | 494 | 773 | 877 | 1,125 | 682 | 705 | 914 | 742 | 705 | 899 |
Current Liabilities Current LiabilitiesCr | 716 | 511 | 582 | 571 | 642 | 595 | 835 | 860 | 1,085 | 981 | 901 | 1,086 |
Non Current Liabilities Non Current LiabilitiesCr | 3 | 4 | 52 | 49 | 66 | 75 | 83 | 85 | 106 | 103 | 117 | 116 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 1,357 | 1,632 | 603 | 815 | 1,090 | 1,328 | 1,117 | 1,135 | 1,496 | 1,200 | 1,091 | 1,489 |
Non Current Assets Non Current AssetsCr | 591 | 535 | 557 | 611 | 527 | 500 | 515 | 547 | 642 | 659 | 664 | 645 |
Total Assets Total AssetsCr |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 426 | 352 | 445 | 415 | 413 | 474 | 863 | 573 | 826 | 470 | 593 |
Investing Cash Flow Investing Cash FlowCr | 28 | 221 | 149 | -19 | 34 | 75 | 7 | -27 | -10 | 1 | -34 |
Financing Cash Flow Financing Cash FlowCr | -105 | -122 | -1,559 | -106 | -314 | -190 | -1,106 | -569 | -477 | -861 | -666 |
|
Free Cash Flow Free Cash FlowCr | 427 | 300 | 401 | 377 | 410 | 423 | 832 | 523 | 781 | 427 | 539 |
| 123.0 | 83.4 | 102.9 | 110.9 | 98.5 | 109.4 | 132.4 | 99.5 | 121.8 | 69.6 | 93.2 |
CFO To EBITDA CFO To EBITDA% | 87.8 | 58.2 | 67.0 | 67.5 | 67.8 | 78.5 | 97.6 | 69.1 | 95.1 | 48.4 | 68.1 |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 21,987 | 20,381 | 26,119 | 32,141 | 34,751 | 32,964 | 43,268 | 43,509 | 46,433 | 53,951 | 44,158 |
Price To Earnings Price To Earnings | 63.5 | 48.2 | 60.4 | 85.8 | 82.9 | 76.1 | 66.4 | 75.6 | 68.5 | 79.9 | 52.0 |
Price To Sales Price To Sales | 9.4 | 9.0 | 11.3 | 13.1 | 11.8 | 11.0 | 12.1 | 11.2 | 11.8 | 12.8 | 13.1 |
Price To Book Price To Book | 17.9 | 12.3 | 49.6 | 39.9 | 38.2 | 28.5 | 60.6 | 59.0 | 49.1 | 69.6 | 59.9 |
| 44.1 | 31.9 | 39.1 | 51.6 | 56.1 | 53.1 | 48.2 | 51.7 | 52.3 | 55.0 | 50.1 |
Profitability Ratios Profitability Ratios |
| 60.5 | 61.1 | 60.6 | 61.4 | 58.0 | 63.1 | 67.6 | 60.0 | 57.5 | 61.6 | 62.8 |
| 20.8 | 26.6 | 28.6 | 25.1 | 20.7 | 20.1 | 24.7 | 21.3 | 22.2 | 23.1 | 25.8 |
| 14.8 | 18.6 | 18.6 | 15.3 | 14.2 | 14.4 | 18.2 | 14.8 | 17.3 | 16.1 | 18.9 |
| 41.2 | 38.9 | 129.7 | 72.9 | 67.4 | 51.8 | 122.0 | 107.9 | 89.6 | 124.2 | 118.5 |
| 28.2 | 25.6 | 82.3 | 46.5 | 46.1 | 37.4 | 91.3 | 78.1 | 71.7 | 87.1 | 86.4 |
| 17.8 | 19.5 | 37.3 | 26.3 | 25.9 | 23.7 | 39.9 | 34.2 | 31.7 | 36.3 | 36.3 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Procter & Gamble Hygiene and Health Care Limited (PGHH) is a leading Indian consumer goods company and a subsidiary of The Procter & Gamble Company, USA. It operates in two high-growth, performance-driven categories: **Feminine Hygiene** and **Personal Healthcare**, with market leadership in both segments. The company leverages global innovation, deep consumer insights, and digital-first strategies to deliver superior products that meet evolving consumer needs across urban and rural India.
PGHH’s brand portfolio is anchored by **Whisper** in feminine care and **Vicks** in healthcare—both trusted household names. The company continues to grow through product innovation, digital transformation, and social impact initiatives that blend commercial success with purpose-driven engagement.
---
### **Core Business Segments & Market Position**
#### **1. Feminine Hygiene (70% of Revenue)**
- **Market Leadership**: PGHH holds **nearly 50% market share** in India’s feminine care category, which has grown **100-fold over the past 30 years**—from Rs 34 crores to over Rs 3,400 crores.
- **Penetration Gaps**: Urban penetration is ~60%, rural <40%, with significant growth potential ahead. Per capita usage remains below one-sixth of China’s, indicating a large untapped opportunity.
- **Key Brands**:
- **Whisper Ultra**: Features **Curvewear Technology** (world-first raised center for seamless fit), **cushion core**, and **100% leak protection**.
- **Whisper Choice**: Upgraded with softer, **cotton-like top sheet** for enhanced comfort; now includes **Nights variants** and **Ultra XL** for heavy flow.
- **Whisper FlexFoam**: Uses patented foam technology for flexibility and comfort.
- **Whisper Period Panties**: Super-premium offering with **360-degree leakage protection**, high absorption, breathable waistband, and now expanded **size-inclusive range**.
#### **2. Personal Healthcare (30% of Revenue)**
- **Market Share**: Over **50% in cough & cold** category; dominant in throat drops, rubs, inhalers, and sleep aids.
- **Revenue Contribution**: Healthcare is the fastest-growing segment in e-commerce, with **ZzzQuil as the #1 bestseller** in sleep supplements on online platforms.
- **Key Brands**:
- **Vicks VapoRub**: Reformulated with a **New Powerful Scent** for enhanced nighttime relief in children; promoted via the **‘V-Banao, Vicks Lagao’** campaign teaching optimal 'V' application.
- **Vicks Cough Drops Double Power**: Larger size, higher ayurvedic content, longer-lasting relief.
- **Vicks Cough Syrup**: Launched in 2025 as a **premium herbal-Ayurvedic hybrid**, targeting demand for natural remedies; available via e-commerce and quick commerce.
- **Vicks Roll-On**: Portable, fast-acting (within 2 minutes) relief for headaches using menthol and camphor; complements cold symptom treatment.
- **Vicks Inhaler**: Natural, on-the-go relief from nasal congestion.
- **ZzzQuil**: Nutritional sleep aid in gummy and liquid form; growing at **double-digit rates on e-commerce**; partnered with **World Sleep Society** for awareness.
---
### **Recent Innovations (2024–2025)**
PGHH has launched category-defining products and reimagined existing ones with a **consumer-first innovation strategy**:
- **Whisper Ultra & Bindazzz Nights**: Refreshed with **Gen-Z-friendly, de-cluttered packaging** and promoted through influencer-led “edutainment” content under the **‘Real Periods Real Solution’** campaign.
- **Whisper Ultra XL for Heavy Flow**: Introduces **cushion core technology** and soft top layer for comfort and full leak protection.
- **Vicks VapoRub Steam Pods**: First globally launched steam inhalation capsules from P&G; modern format for targeted relief.
- **Vicks Headache Roll-on**: Non-greasy, portable relief using high-strength Ayurvedic ingredients.
- **New Sub-Categories**: Creation of premium segments like **Whisper Period Panties** and **ZzzQuil gummies**, establishing new consumer expectations.
---
### **Marketing & Consumer Engagement**
#### **Digital & Influencer Strategy**
- Targeted **Gen-Z** consumers via **influencer partnerships** and **e-commerce-first** campaigns.
- Ran India’s **largest menstrual education program**, reaching **over 10 crore girls and mothers** across schools.
- **#KeepGirlsInSchool** campaign in its **5th edition (2024–25)** to combat stigma, advocate for mandatory education, and improve school retention.
- Award-winning **‘The Missing Chapter’** campaign (Cannes Lions 2022 Grand Prix) continues to drive social impact.
#### **Quick Commerce Partnerships**
- Co-created campaigns with **Zepto** for **10-minute delivery** of Whisper Period Panties, combining **urgency, visibility, and education**.
- Expanded access via **quick commerce, e-pharmacies, and e-commerce platforms**.
---
### **Supply Chain & Technology Leadership**
- **Supply 3.0 Initiative**: End-to-end optimization using **AI and machine learning**. Achieved:
- **60% reduction in supply chain touchpoints**
- **35% faster speed to market**
- **6 million km reduction in logistics**
- Lower carbon footprint and improved resilience.
- **AI-Driven Retail Execution**:
- In-house algorithms optimize **store-level product assortments** and **shelf visibility** across physical and dark stores.
- Enhanced **distributor ordering accuracy** and **inventory turnover**.
- **AI in Manufacturing**: Uses **image recognition for automated quality checks**, improving speed and consistency.
---
### **Growth Strategy & Performance**
PGHH follows a **Five-Pillar Integrated Growth Strategy**:
1. **Product Superiority**: Across performance, packaging, communication, retail execution, and value.
2. **Consumer-First Innovation**: Addressing "jobs to be done" through continuous R&D.
3. **Digital Acceleration**: E-commerce contributes **double-digit % of total revenue**; ZzzQuil and Whisper Nights see exponential online growth.
4. **Productivity as a Growth Lever**: Saved **over Rs 105 crore** in FY 2023 through systemic productivity initiatives.
5. **Social Purpose Integration**: Combines brand building with education to expand category demand.
- **Whisper Nights**: Grew **150x YoY**, driven by bundling and education on night-time protection.
- **ZzzQuil**: Top-selling sleep supplement on e-commerce (P3M); available in Tier I and Tier II cities.
---
### **Leadership & Governance**
- **Mr. Iyer**, Managing Partner – Rational Equity Partners LLP, brings **40+ years of leadership experience**, including as **President & CEO of Walmart India**. Holds CA and CS qualifications and a Commerce degree from Sydenham College, Mumbai.
---
### **Competitive Landscape**
- Organized D2C and unorganized players hold **<10% market share combined** in feminine hygiene.
- PGHH maintains leadership through **brand trust, innovation, and broad distribution**.
- Despite challenges like **consumer down-trading and inflation**, the company has grown market share via **superior execution and value-tier segmentation** (Rs 4–7 and >Rs 7 per pad).