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Hold Colgate-Palmolive (India); target of Rs 1690: ICICI Direct

ICICI Direct recommended hold rating on Colgate-Palmolive (India) with a target price of Rs 1690 in its research report dated July 27, 2022.

July 29, 2022 / 06:58 PM IST
 
 
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ICICI Direct's research report on Colgate-Palmolive (India)


Colgate-Palmolive (India) (CPIL) is the largest oral care company in India. The company has more than 50% market share in the toothpaste category. The major brands include Colgate Dental Cream, Colgate Total, Colgate Max-Fresh. With the changing consumer preference for naturals products, the company is focusing on growing Colgate Vedshakti brand. Recently, it has launched toothpaste for Diabetics, Colgate Visible White O2, Palmolive range in face cleansing category • Colgate has distribution reach of 6.5 million outlets. The company commands one of the highest gross margins in the industry and spends ~13% of sales on marketing to support existing brands and new launches.


Outlook


We maintain our Hold rating on the stock. We value the stock at Rs1690, valuing the business at 38x FY24 earnings.


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Colgate-Palmolive (India) - 280722 - icici

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first published: Jul 29, 2022 06:58 pm
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