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Colgate-Palmolive: Subdued show on growth as well as margin

Premiumisation trends and increase in market share by Colgate-Palmolive are what investors need to focus on, going forward

October 26, 2021 / 09:25 AM IST
Colgate-Palmolive: Subdued show on growth as well as margin

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Colgate-Palmolive India’s (CPIL; CMP: Rs 1,533; Market Capitalisation: Rs 41,700 crore) quarterly results were marginally below Street expectations with its top line remaining flat and gross margins under pressure. With a focus on premium products, CPIL continues to invest in brands. Its  advertisement and publicity expenditure increased by 13 percent year on year (YoY), and it now constitutes 14 percent of sales. CPIL has declared an interim dividend of Rs 19 per share. September 2021 quarter results Revenues grew by 5...

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