Colgate-Palmolive (India) Ltd. share price target

We maintain BUY and TP of Rs. 1,745 as we value the stock at 40x its FY23E EPS.

Gross margins expanded 400bps due to benign RM prices, improved sales mix in domestic market and higher growth in Palmolive brand We are changing EPS estimates by -0.4%/2.6% and 5.2% for FY21, FY22 and FY23 due to superior sales mix, comeback of premium segment in Toothpastes and improving traction in Palmolive Handwash and Shower Gel. Domestic volume and value growth has been 5% while decline in exports has...

Colgate Palmolive (India) (CLGT) at its Analyst Meet shared its strategy and opportunities for growth. Key takeaways from the meet were 1) stepped focus on product innovation by tapping into white spaces, platform based innovation models, 2) visible market share gains noticed in Modern Trade

CLGT Analyst Meet highlighted increasing management focus on 1) Change in Estimates | Target | Reco Innovations under Vedshakti brand creating new segments (mouth protect spray and oil pulling) 2) Launch of Diabetic Toothpaste 3) new toothbrush...

We maintain BUY and TP of Rs. 1,565 as we value the stock at 38x its FY23E EPS.

We initiate coverage on Colgate Palmolive (India) Ltd. (CLGT) with a BUY recommendation and a Target Price of Rs. 1,565, which implies 15% upside from current levels.