Colgate-Palmolive (India) Ltd. share price target

ICICI Securities Ltd | Retail Equity Research Colgate-Palmolive's (CPIL) net sales grew by 6.8% YoY to | 1091.1 crore (I-direct estimate: | 1056.8 crore) on the back of 6% volume...

Revenue growth at 7% yoy percent was ahead of estimates. Organic revenue growth excluding phasing of excise duty benefits was a robust 13% yoy Volume growth at 6% yoy with Domestic volume growth of 4% yoy was ahead of...

Colgate Palmolive (India) has reported mixed set of numbers for 4QFY16. While its revenues came in at Rs10.9bn (5% ahead of our estimate of Rs10.4bn), EBITDA and net profit came in 14% & 18% below our estimate at Rs2.3bn & Rs1.5bn respectively, which can be attributed to higher A&P; spends. The Company's net sales (excluding the impact of phasing-out of Excise Duties) grew by 13%, while net profit increased 14% in 4QFY16. We expect the Company to post revenue and earnings CAGR of 12.7% & 12%, respectively through FY16-18E and revise our recommendation on the stock from HOLD to ACCUMULATE with a Target Price of Rs851....

While Colgate continues to be the market leader in both toothbrushes and toothpastes by a considerable margin, its dominance has once again been challenged this time by Patanjali. Past contenders have included Anchor, Pepsodent, and Oral B. Patanjali's...

While Colgate continues to be the market leader in both toothbrushes and toothpastes by a considerable margin, its dominance has once again been challenged this time by Patanjali. Past contenders have included Anchor, Pepsodent, and Oral B. Patanjali's...

Colgates 3QFY16 revenues grew by a mere 1.9% YoY to Rs 10.1bn (vs. estimate of Rs 10.6bn). Impacted by the toothpaste category slowdown and rising competition, Colgate?s volume growth cracked to ~1%. Revenue growth was 7% excluding the impact of excise benefit withdrawal in Himachal Pradesh.

Other expenses have seen blips quarter on quarter due to various reasons, the managementsees9monthstobemorereflectiveoffullyearFY16 WhileA&P;spendshavedeclinedforpasttwoquarters,managementcommentedthat...

Colgate reported net sales growth of just 1.8% to Rs10.1bn, which was lower than our estimates of Rs10.4bn. Volumes have grown by just 1% for the quarter. EBITDA came in at Rs2.2bn in line with our estimate, while reported net profit increased 21.8% to Rs1.6bn, higher than our estimate of Rs1.5bn. This out performance was attributable to tax reversal of Rs186mn in the quarter. We expect revenue and earnings CAGR of 9%...

As exciseduty benefits have ceased, sales growth will be impacted by 580/600bps in Q3/Q4FY16andgrossmarginswillbeimpactedby150bps Employee spends in Q2FY15 (base quarter) had some exceptional items (expat debit...