After a weak Dec quarter, near-term gains unlikely for Colgate-Palmolive

A lot hinges on its ability to boost volumes amid stiff competition

Ram Prasad Sahu Mumbai

On the margin front, the company reported an expansion in gross profit margins by 210 basis points (bps) on a sequential basis

Pegged back by sluggish rural demand, the country’s largest toothpaste maker Colgate-Palmolive (India) posted weak December quarter results for the 2022-23 financial year (FY23). Even as the Street had muted expectations, given its dismal growth story for some time now, the company failed to meet the lower growth estimates as well.
While analysts were expecting the company to deliver a revenue growth in the mid-to-high single digits, the topline was flat. Volumes are estimated to have declined by about 3 per cent; pricing growth has been of a similar quantum, offsetting the overall impact.
The company indicated that the toothpaste category has been impacted due to slowdown in the rural markets, increased pressure on consumer wallet due to inflation and downtrading to lower cost packs.

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First Published: Jan 25 2023 | 8:51 PM IST

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