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Published on 31/07/2020 9:55:56 AM | Source: Religare Broking Ltd

Buy Colgate Palmolive India Ltd For Target Rs. 1448 - Religare Broking

Posted in Broking Firm Views - Short Term Report| #FMCG #Trading Report #Colgate-Palmolive Ltd #Religare Broking Ltd

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Investment Pick

*  Colgate-Palmolive (India) (Colgate) posted mixed set of numbers for Q1FY21. Its revenue declined by 4.1% to Rs 1,041cr due to muted growth in toothbrush category. While on operational front, Its EBITDA grew by 2.7% YoY to Rs 308cr on account of lower expenses. Further the company’s PAT witnessed jump of 17.2% YoY to Rs 198cr, on the back of prior year tax reversal as well as lower depreciation and interest cost.

* Colgate would concentrate on improving market share, maintaining leadership position, managing operating leverage and lastly widening distribution reach. Further innovation would continue across its core portfolio as well as in Palmolive brand. Besides, Colgate financials are growing consistently and has stable balance sheet with healthy free cash flows which would benefit the company in deploying funds for brand expansion. Hence, maintaining positive view on the company we assign Buy rating on the stock with a price target of Rs 1,646.

Buy Colgate Palmolive India Ltd 9-12 Months  CMP 1,434.45 Target 1,448

 

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