January 30, 2017 / 13:41 IST
Colgate-Palmolive (India) Ltd. declared its Q3FY17 results and Net Sales stood at INR 9912.2 Mn which grew by 8.4 y-o-y and 17.6% q-o-q. EBIDTA stood at INR 2140.6 Mn with margins of 21.6% which was a decrease of 124bps qoq. PAT stood at INR 1278.2 Mn and PAT margin was at 12.9% which saw a decline of 217bps qoq. Change in Accounting Standard to IND AS from Q1FY17.
OutlookWe are downgrading the target price due to stiff competition in the market and maintaining our recommendation of “ACCUMULATE” rating on the stock with a target of INR 959 and a potential upside of 8.9%.
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