Colgate Palmolive shares slid 1.7% to Rs 2,768 each on the BSE on Wednesday as investors booked profits after the fast moving consumer goods (FMCG) business reported its March quarter (Q4) results for fiscal year 2023-24 (FY24).
At 11:00 AM, the stock was trading 1.36 percent lower at Rs 2,780 per share, compared to an unchanged benchmark S&P BSE Sensex index happy teachers day wishes.
Colgate Palmolive India’s net profit increased by 20.1% year on year (Y-o-Y) to Rs 379.8 crore in the most recent quarter, happy teachers day wishes driven by greater sales due to a continued rebound in rural demand and margin expansion.
Colgate-Palmolive (India) Limited
Apart from that, the oral care major recorded a 10.4% year-on-year increase in revenue to Rs 1,480.7 crore in Q4, while profit before interest, depreciation, and tax increased 17.5% year on year to Rs 554.8 crore.
Domestic sales increased by 10.7 percent throughout the quarter businessinsider.in, owing to excellent performance in toothpaste. Furthermore, the rural market showed good signs of demand recovery, exceeding the metropolitan markets. Gross margins increased 244 basis points year on year, but decreased 287 basis points quarter on quarter to 69.3 percent happy teachers day wishes.
Furthermore, happy teachers day wishes despite a strong increase in ad spending (up 18% year on year), Ebitda margins increased by 226bps year on year/216bps quarter on quarter to 35.7 percent.
“Margins remained high in response to numerous cost efforts, such as the ‘Funding The Growth’ programme. It has also formed a unique communication partnership with IPL, with a renewed focus on Brushing at Night. Sales in businessinsider.in rural areas surpassed those in cities. It is performing well in Modern Trade and E-commerce,” Nuvama Institutional Equities analysts stated in a post-results report.
The management highlighted its many endeavours, stating that it relaunched Colgate Active Salt with a stronger recipe and introduced a more inexpensive 80g container of its top toothpaste, Colgate Total. It also unveiled new fragrances for Palmolive body wash and its first mass media campaign. Colgate Palmolive India also has a strong innovation pipeline, beginning with a first-of-its-kind Tooth Whitening Booster from the Visible White Range businessinsider.in.
“With a focus on premiumisation and pricing power, Colgate is well-positioned to capitalise on this momentum and sustain growth. Nuvama analysts retain a ‘Buy’ rating on the stock, citing consistent innovation and strategic moves that drive growth.
The brokerage’s target price for Colgate Palmolive stock, which is now at Rs 2,910, may be altered following the company’s analyst call today.
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