Last Updated on October 30, 2023 by BFSLTeam BFSLTeam
On October 26, 2023, Colgate-Palmolive (India) Ltd.: BSE, NSE: COLPAL) announced its Q2 2023-24 financial results, with Q2 Domestic Net Sales seeing a growth of 6.6%, and a corresponding half-yearly growth registered at 9.2%.
Table of Content
Prominent Highlights
Here are the key highlights of the Q2 results (QoQ and YoY) of Colgate-Palmolive:
- In terms of Net Sales, the nation’s most important dental care company reported a 6.1% increase, at ₹1,462.4 Cr. Domestic growth was registered at 6.6% for Q2.
- With regard to Profitability, the company registered a Net Profit After Tax at ₹340.0 Cr, a rise of 22.3%, relative to the same quarter in the previous fiscal year when Net Profit stood at ₹278.0 Cr.
- The company’s EBITDA margins display continued improvement, up 120 bps relative to the sequential quarter and up 340 bps versus Q2 of the previous fiscal year. This is up due to pricing and operating efficiency this quarter.
Additional Read: Q2 Results Dashboard
Commentary by the Management
The MD and CEO of Colgate-Palmolive (India) Ltd., Prabha Narasimhan reflected on the Q2 results and indicated the following:
- The company is pleased with the present momentum of growth and operations.
- The company continues to make its brand robust while delivering premium products to consumers.
- Doubling down on the Colgate Strong Teeth in Q2, the company seeks to extend availability and reach.
- The Colgate Max Fresh brand under the helm of the company has done exceedingly well.
- The company has also restaged its largest franchise of toothbrushes, Colgate Zig Zag, with a high-quality mix focusing on deep dental cleaning.
- The domestic growth of the company continues to be robust with the company’s segment of toothpaste seeing higher growth in single digits.
- The company’s objective remains to take responsibility for premium dental care and hygiene for Indians. With a view to this, the company has released “The Sweet Truth”, a film that aligns with the upcoming festive season in India.
- Additionally, the company sustains its promise to deliver programmes like Colgate Bright Smiles, Bright Futures, impacting more than 171 million Indian children, with an integral mission of adopting the appropriate oral care practices from childhood.
Additional Read: FMCG Sector in India
News On Dividends
The Board of the Company has declared a dividend (First Interim Dividend) of ₹22/- per equity share with face value at ₹1/- each for FY2023-24. Dividends to shareholders will be paid from 21 November 2023, and the total amount paid out will be ₹598.4 Cr.
About Colgate-Palmolive (India) Ltd.
From modest beginnings in 1937, at a time hand carts were the means for the distribution of Colgate Dental Cream, the company, Colgate-Palmolive (India) Ltd., now in its 80th year, has one of the most widespread Indian distribution networks. Currently, the company leads the market in the segment of Oral Care in India, and yet strives to deliver profitable and sustainable growth, premium shareholder returns, and offer its workforce an inclusive work ecosystem. The aim of the company is to make lives happy and healthy through the promotion of diversity and social responsibility. This is the crux of this stalwart company’s success.
Additional Read: Colgate Share Price
Colgate-Palmolive (India) Ltd. is in the business of manufacturing and marketing toothpaste, toothpowder, toothbrushes, oil-pulling products as well as mouthwashes, within the Colgate brand. Under the Palmolive brand, a host of personal care products are available, including shower gels. The company is always proud of the fact that the Colgate brand is ever-present in most Indian homes. With the company’s growth surpassing ₹4800 crore, Colgate-Palmolive has an exemplary record of boosting value for its robust shareholder base.
Known to be an innovative and caring growth business, Colgate-Palmolive constantly spreads awareness and enables easy access to oral care across India. This is a commitment that is reflected in its “Keep India Smiling Mission”. Ranked by The Economic Times as India’s #1 Most Trusted Oral Care Brand for 9 consecutive years, as well as the most trusted brand by Nielsen, the brand is always setting its sights higher and growing from strength to strength.
Source: https://www.colgateinvestors.co.in/financial-results
