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Colgate Palmolive (India): Lower advertising spends save the day

Colgate has recovered by 36 percent from its 52-week lows and by nearly 8 percent from its March 2020 quarter result level

July 30, 2020 / 11:48 AM IST
Colgate Palmolive (India): Lower advertising spends save the day

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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

Nandish Shah Moneycontrol Research Highlights -Results above expectations -Toothpaste segment saw positive growth -Valuation demanding, wait for a better entry point Colgate Palmolive’s (Colgate) (CMP: Rs 1,448; Market capitalization: Rs 39,390crore) quarterly results were above the Street’s expectations. Reduced advertisement expenses and lower effective tax rate saved the day for the company. June quarter performance Colgate’s revenue growth declined year on year but the toothpaste business delivered positive sales growth for the quarter which reflects the brand’s strength. The toothbrush category, that is more discretionary in...

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