Colgate-Palmolive Q4 results: Net profit increases by 20% to Rs 380 crore

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Colgate-Palmolive Q4 sales were Rs 1,480.66 crore, up 10.35 percent from the previous year, the personal-care business stated in a regulatory statement on May 14.

About Revenue of Colgate-Palmolive

Colgate-Palmolive India recorded a combined net profit of Rs 379.82 crore for the March quarter, up 20.11 percent from the previous year’s period.

Total revenues were Rs 1,480.66 crore, up 10.35 percent from the same period last year, the personal-care company said in a regulatory statement on May 13.

Earnings before interest, tax, depreciation, and amortization (EBITDA) for the quarter were Rs 532 crore, up 17.7 percent. EBITDA margins increased by 220 basis points YoY to 35.7 percent.

The Board has declared a second interim dividend of Rs 26 per share, as well as a special one-time interim payment of Rs 10 per share, in recognition of the Company’s outstanding performance in the financial year 2023-24.

The total dividend payout to shareholders would equal Rs 979.2 crore and will be delivered on or after June 7, 2024, to shareholders listed in the Company’s Register of Members as of May 23, 2024.

“After the final quarter of FY 24, we are happy with the overall success we have made on our strategic priorities. We have doubled down on our mission of improving oral health for everyone in India, with an increased focus on Brushing at Night, including an innovative communication partnership with IPL, and have expanded our flagship in-school Oral Health program, Colgate-Palmolive Bright Smiles, Bright Futures, which reached 5.2 million children this year. We have also continued to invest in better, science-based oral care formulations, improving the product and packaging quality of our whole core portfolio.” remarked Prabha Narasimhan, Managing Director and CEO.

The business upgraded Colgate Active Salt with a stronger composition and offered a more economical 80g pack of Colgate Total, our top toothpaste. The company also introduced new fragrances for Palmolive body wash. Rural sales have overtaken urban sales and are doing well in Modern Trade and E-commerce.

The company’s margins remained high thanks to our successful ‘Funding The Growth’ advertisement.

Looking ahead, Colgate is confident in the market’s recovery, owing to its strong brand and innovative products such as the Visible White Tooth Booster.

Meanwhile, Colgate shares traded 1.44 percent lower at Rs 2818.40 per on the BSE ahead of the earnings.

“Margins remained high in response to numerous cost efforts, such as the ‘Funding The Growth’ program. It has also formed a unique communication partnership with IPL, with a renewed focus on Brushing at Night. Sales 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 endeavors, 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 has a strong innovation pipeline, beginning with a first-of-its-kind Tooth Whitening Booster under the Visible White Range.

Promotor / FII Holding

As of March 31, 2024, promoters owned 51.0% of the firm, with international investors and local institutional investors owning 24.51 and 5.81 percent, respectively.

Key Financials

The company reported consolidated revenues of Rs 1512.66 crore for the quarter ended March 31, 2024, up 7.01 percent from the previous quarter’s Rs 1413.54 crore and 10.33% from the year-ago quarter’s Rs 1370.98 crore.

A greater price-to-earnings ratio indicates that investors are willing to pay a higher price for each rupee earned by the business due to stronger future growth prospects.

The price-to-book value ratio reveals a company’s inherent value and is a measure of the price that investors are willing to pay even if there is no business development.

Video Credit: ET NOW

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