Colgate-Palmolive (India) Ltd. share price target

Colgate focuses on driving toothpaste and toothbrush category growth, accelerating premiumization, and scaling up its personal care portfolio.

Colgate Palmolive (CLGT IN) Analyst Meet Update Steady outlook, valuations limit downside HOLD

Colgate's (CLGT) Q1FY27 suggests the business is gradually regaining momentum. While the reported 11.8% YoY revenue growth partly benefited from a favourable base, the key takeaway was the return of HSD toothpaste volume growth (~8% YoY) driven by growth in premium toothpaste, alongside sustained growth in the core portfolio.

With an upside of 19% from the CMP, we maintain our BUY rating on the stock.

Colgate (CLGT) delivered 12% YoY revenue growth to INR16.0b (est. INR15.6b, 2-yr CAGR 3.5%) in 1QFY27. The company registered double-digit revenue growth after six quarters with a healthy high-single-digit volume growth (est. 4.5%).

Revenue recovery gaining traction: Domestic sales growth is expected to sustain at ~7–8%, driven by rural distribution expansion, premiumisation and rapid growth in quick commerce.

With an upside of 19% from the CMP, we maintain our BUY rating on the stock.

Colgate’s (CLGT) delivered 2% YoY revenue growth to INR14.9b (est. INR14.9b) in 3QFY26, clocking positive growth after three consecutive quarters of decline.

Colgate's revenue fell during the quarter due to temporary distribution disruptions following the revision in GST rates on oral care portfolio. However, its business fundamentals remained strong with continued brand investments and steady demand in premium segments. The company's strategic focus on innovation, product diversification and rural penetration is expected to aid recovery in the second half of FY26. Ongoing cost optimization under the funding the growth' program, coupled with innovation-led launches in oral and personal care should...

Management expects a gradual demand recovery in H2FY26E, supported by improving macro indicators and internal execution initiatives.

With an upside of 12% from the CMP, we maintain our BUY rating on the stock

Colgate’s Q2FY26 result reaffirms that business remains structurally fatigued, with no visible triggers for a turnaround. Revenue declined 6.2% YoY, implying a 7-8% volume decline amid GST-led destocking and continued competitive intensity.

Colgate’s (CLGT) 2QFY26 performance remained weak as its revenue fell 6% YoY to INR15.2b (in line) on a high base of 10% growth and due to the impact of GST-led transition (trade disruptions).

Maintain BUY ratings on with a revised TP at Rs 2,780.

Colgate Palmolive India’s Q1FY26 performance stood below our expectations across the board, reflecting persistent headwinds from tough operating conditions led by muted urban demand and elevated competition intensity.

With an upside of 12% from the CMP, we maintain our BUY rating on the stock.

Colgate’s Q1FY26 performance was weak with numbers missing estimates on all fronts. Standalone revenues declined by 4.2% y-o-y to Rs. 1,434 crore, missing our and the average street’s expectation of Rs. 1,525 crore and Rs. 1,498 crore, respectively.

We cut FY26/27 EPS by 7.1/7.4% given subdued urban demand, competitive pressures and little scope to increase margins from current elevated levels. CLGT 1Q26 was a miss on estimates with 4.4% revenue decline led by 2.8% volume decline (high base, subdued urban demand and intensifying competitive pressures). Near term outlook remains cautious as impact of high base, tepid urban demand, heightened competition and promotions/...

Colgate’s Q4FY25 performance was muted owing to soft demand in urban markets and heightened competitive intensity. Standalone revenues declined by 1.8% y-o-y to Rs. 1,463 crore, missing our expectation of Rs. 1,520 crore, with toothpaste volumes flat y-o-y.

We've been long critical of Colgate India's (consistent) strategy of not investing (enough) for toothpaste category growth (our opinion), not aggressive (enough) in diversifying outside of oralcare (parent has a good HPC portfolio though), over-earning, in our opinion (operating margins at ~37% after adding back royalty).