January 30, 2017 / 15:34 IST
Motilal Oswal's research report on Colgate Colgate’s (CLGT) net sales declined 8.8% YoY (est. of +7.5%) to INR 8.65b due to 12% calculated volume decline (est. of +2%). EBITDA fell 10.3% YoY (est. of +3.9%) to INR 2.14b, mainly due to sales decline. PAT adjusted for tax reversals last year dropped 14.2% YoY (est. of +3.5% YoY).
OutlookLong-term earnings potential is strong, and balance sheet is best-of-breed. Post results, we cut FY18E/FY19E EPS by 11.8%/9.2%. Maintain Buy with a revised TP of INR 1,115 (prior: INR 1,200) based on 37x Dec-18 EPS, 5% discount to average multiple for past three years.
For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
Read More
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
