The stock of the country’s largest listed oral care company -- Colgate-Palmolive (India) Ltd is up 18 per cent over the past month. The gains were led by better than expected June quarter (Q1) performance of the 2023-24 financial year (FY24) and growth revival expectations of the oral care category.
The company’s volume growth is pegged at 5-8 per cent in Q1FY24. This is the second consecutive quarter of volume growth. Prior to Q4FY23, volumes had declined for four quarters, highlights HDFC Securities. The four-year annual growth for the metric was at 2 per cent.
Riding on the volume gains, domestic sales growth came in at 12 per cent. Within the segments, even as toothbrush sales fell year-on-year