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Colgate-Palmolive India: Performance continues to remain sub par

The strategy from the new CEO is likely to take a longer time, given that oral-care penetration has already reached 85-88 percent.

January 25, 2023 / 10:28 AM IST
Colgate-Palmolive India: Performance continues to remain sub par

Colgate-Palmolive India's Q3FY23 results were below expectations.

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

Highlights Decline in volume and market share Gross margin witnesses sequential recovery Increase in investment behind advertisement and publicity Remain neutral, despite attractive valuations The Q3FY23 results for Colgate-Palmolive India (CPIL; CMP: Rs 1,460; Market capitalisation: Rs 39,695 crore) were below expectations. CPIL continued with its focus on key strategic pillars:  building an oral-care habit in India, driving innovation through science-led products and premiumisation. December 2022 quarter results Domestic sales growth was at 3.2 percent year on year (YoY). While we expect volume decline in mid-single digits,...

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