Top takeaways from Q1FY17: Revenue growth at 12.5% yoy was ahead of our/street estimates.Volume growth at 6% yoy with domestic volume growth of 5% yoy was in line; pricing growth continued to be robust at 6% yoy. Market share in Tooth paste recovered 60bps qoq to 55.9%; Tooth brush share improved 100 bps qoq to 46.8%.Gross margins rose 240bps yoy and surprised positively. EBIDTA margins shrunk 160bps yoy on higher ad spends and EBITDA growth missed estimates.Phillip Capital value the company at 40x, FY18E earnings (35x earlier) at Rs 1110 (earlier Rs 960) and maintain Buy.Trendlyne has 11 reports on COLPAL updated in the last year from 4 brokers with an average target of Rs 995.5. Brokers have a rating for COLPAL with 2 price downgrades,1 price upgrade in past 6 months and 1 upgrade,2 price upgrades in past 1 Year.