Buy Colgate Palmolive (India); target of Rs 2126: Religare Retail Research

Religare Retail Research report on Colgate Palmolive (India)

With over 85 years of presence in India, Colgate- Palmolive India is the leader of the oral care segment and is also India’s most preferred oral care brand, reaching nine out of ten households. The product line of the company comprises a oral care range of toothpastes, toothbrushes, mouth washes, and personal care items such as hand washes and shower gels. The company’s products reach over 1.7mn stores, 95% of which are active every quarter. Further, it has established a state-of-the-art R&D center in Mumbai, which is one of its largest R&D facilities globally.

Outlook

We have estimated its Revenue/EBITDA/ PAT to grow at a 6.7%/10.3%/10.8% CAGR of FY23-25E and have initiated coverage with a Buy rating and a target price of Rs 2,126.

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