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COLPAL
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Colgate-Palmolive (India) Says Tax Demand Order Reduced To 1.4 Million Rupees
Feb 21 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) LTD - TAX DEMAND ORDER REDUCED TO 1.4 MILLION RUPEES FROM 47.5 MILLION RUPEES
Source text: ID:nBSEbmqVxp
Further company coverage: COLG.NS
(([email protected];;))
Feb 21 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) LTD - TAX DEMAND ORDER REDUCED TO 1.4 MILLION RUPEES FROM 47.5 MILLION RUPEES
Source text: ID:nBSEbmqVxp
Further company coverage: COLG.NS
(([email protected];;))
Colgate-Palmolive (India) Q3 Net Profit 3.23 Bln Rupees
Jan 28 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
Q3 NET PROFIT 3.23 BILLION RUPEES
Q3 SALES 14.52 BILLION RUPEES
Source text: ID:nnAPN2LBTRO
Further company coverage: COLG.NS
(([email protected];;))
Jan 28 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
Q3 NET PROFIT 3.23 BILLION RUPEES
Q3 SALES 14.52 BILLION RUPEES
Source text: ID:nnAPN2LBTRO
Further company coverage: COLG.NS
(([email protected];;))
REFILE-India's Godrej Consumer slumps 9% after flagging weak Q3 demand
Corrects media packaging code; no changes to text
By Sethuraman N R
Dec 9 (Reuters) - Shares of India's Godrej Consumer Products GOCP.NS slumped 9% on Monday, set for their worst day since March 2020 and dragging down its peers in the fast moving consumer goods sector after the firm warned of stress on demand and profit margins in the third quarter.
The stock fell to its lowest since Jan. 18, its biggest one-day percentage drop since the onset of the pandemic. The decline dragged down the consumer goods index .NIFTYFMCG by 2.2%. The benchmark Nifty 50 .NSEI was down about 0.1% on the day.
Including Monday's decline, the consumer index has shed about 14% so far this quarter and is set for its worst ever quarterly performance as Indian consumer companies continue to feel the pinch of still-high inflation and a consequent fall in demand.
Godrej Consumer said on Friday that two-thirds of its India business is under demand and margin stress due to higher raw material costs and unfavourable weather.
The company's update will "likely add to investor concerns" on the consumer industry as a whole, which has been facing a slowdown, Jefferies said in a note.
To partly offset higher costs in palm oil, a key ingredient for Godrej's soap business that contributes one-third to its standalone revenue, the company undertook measures including price increases during the quarter.
"Such pricing actions typically have minimal impact on category consumption but do result in reduced inventory across wholesale and household pantry," Godrej said.
The warning by Godrej will also impact peers, Jefferies said, adding that recent analyst meetings with Hindustan Unilever HLL.NS and Colgate-Palmolive India COLG.NS have not provided confidence about a recovery in consumption.
(Reporting by Sethuraman NR; Editing by Sonia Cheema)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Corrects media packaging code; no changes to text
By Sethuraman N R
Dec 9 (Reuters) - Shares of India's Godrej Consumer Products GOCP.NS slumped 9% on Monday, set for their worst day since March 2020 and dragging down its peers in the fast moving consumer goods sector after the firm warned of stress on demand and profit margins in the third quarter.
The stock fell to its lowest since Jan. 18, its biggest one-day percentage drop since the onset of the pandemic. The decline dragged down the consumer goods index .NIFTYFMCG by 2.2%. The benchmark Nifty 50 .NSEI was down about 0.1% on the day.
Including Monday's decline, the consumer index has shed about 14% so far this quarter and is set for its worst ever quarterly performance as Indian consumer companies continue to feel the pinch of still-high inflation and a consequent fall in demand.
Godrej Consumer said on Friday that two-thirds of its India business is under demand and margin stress due to higher raw material costs and unfavourable weather.
The company's update will "likely add to investor concerns" on the consumer industry as a whole, which has been facing a slowdown, Jefferies said in a note.
To partly offset higher costs in palm oil, a key ingredient for Godrej's soap business that contributes one-third to its standalone revenue, the company undertook measures including price increases during the quarter.
"Such pricing actions typically have minimal impact on category consumption but do result in reduced inventory across wholesale and household pantry," Godrej said.
The warning by Godrej will also impact peers, Jefferies said, adding that recent analyst meetings with Hindustan Unilever HLL.NS and Colgate-Palmolive India COLG.NS have not provided confidence about a recovery in consumption.
(Reporting by Sethuraman NR; Editing by Sonia Cheema)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
ANALYSIS-India's middle class tightens its belt, squeezed by food inflation
Urban consumption hits two-year low, index shows
Inflation at 14-month high; food inflation in double-digits
Middle class frustration impacts Modi's election performance
Fast-food chains report sales declines
By Praveen Paramasivam, Shivangi Acharya
CHENNAI/NEW DELHI, Nov 13 - India's city dwellers are cutting spending on everything from cookies to fast food as persistently high inflation squeezes middle class budgets, threatening the country's brisk economic growth.
Slowing urban spending over the past three to four months has not only hurt the earnings of largest consumer goods firms, it has raised questions about the structural nature of India's long-term economic success.
Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing.
"There is a top end – the people with money are spending like that is going out of style," Nestle India Chairman Suresh Narayanan said.
"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods (FMCG) firms used to operate in, which is the middle class of the country, that seems to be shrinking."
Nestle India, which makes Kit Kats and other well-known goods, reported its first quarterly revenue drop since the COVID-hit June quarter in 2020.
While there is no officially defined income bracket for Indian middle class households, they are broadly estimated to account for a third of India's 1.4 billion people.
They are considered a key demographic both economically and politically, with middle class frustration seen as a significant factor behind Prime Minister Narendra Modi's weaker election performance this year.
Asia's third-largest economy is expected to expand 7.2% in the financial year ending March 2025, the fastest among its major peers.
Belying those rosy projections, however, are signs of a sharp slowdown in the household sector.
Indian urban consumption hit a two-year low this month, according to an index published by Citibank that captures indicators such as airline bookings, fuel sales and wages.
"While some of the fall could be temporary, the key macro drivers remain unfavourable," Citi's chief India economist Samiran Chakraborty said.
Growth in inflation-adjusted wage costs for listed Indian firms - a proxy for earnings of urban Indians - has remained below 2% for all the three quarters of 2024, well below the 10-year average of 4.4%, data from Citi showed.
Chakraborty cites this as a key factor impacting urban consumption, along with declining savings and tighter rules for personal loans.
Headline inflation has averaged 5% over the past 12 months, but food inflation has held above 8% as weather shocks elevated prices of vegetables, cereals and other essential foods. In October, retail inflation hit a 14-month high of 6.2% while food prices jumped to 10.9%.
Anecdotal data suggests retail sales rose close to 15% year-on-year during the 2024 festive season, which runs from August to November, Nomura said in a note last week, about half last year's pace.
"During this festival season, we have not spent at all," said Rajwanti Dahiya, 60, who survives on her husband's monthly pension of 30,000 Indian rupees ($356.76).
"Savings are low, barely there."
A 'SHRINKING' MIDDLE
India's central bank expects 7.2% GDP growth for the fiscal year ending March 2025 on the back of improved rural demand and a strong services sector.
Higher government investment could also support demand, said Rahul Bajoria, head of India and ASEAN economic research at Bank of America.
"If government spending kicks in, that probably does have some multiplier effects on private consumption spending as well," said Bajoria, who expects GDP growth at 6.8% in the current financial year.
Some are less optimistic with Citi and IDFC First Bank economists expecting GDP growth in the July-September quarter to miss the central bank's projected 7%, weighed by slower urban consumption.
That pessimism has hit consumer stocks with the Nifty FMCG index .NIFTYFMCG declining 13% since Oct. 1, compared with a 7.4% drop in the benchmark Nifty 50 .NSEI.
Of the FMCG index's 15 constituent firms, only one reported a pickup in sales volume growth in the September quarter.
Consumers in large cities are swapping branded items from hair oil to tea for cheaper unbranded alternatives, reflected in the first sales volume decline in 11 quarters for the foods and refreshment group at Hindustan Unilever.
"We see the growth in big city standing down, although in smaller cities and in rural the growth continues to be good," Hindustan Unilever chief executive Rohit Jawa said last month, after reporting lower than expected earnings.
Consumers are also cutting back on dining out.
Fast-food chains such as McDonald's, Burger King, Pizza Hut and KFC posted same-store sales declines, earnings showed.
While people are still coming, they are choosing cheaper meals, Rajeev Varman, CEO at Burger King operator Restaurant Brands Asia RESR.NS said after posting a 3% drop in quarterly same-store sales.
"We prefer budget-friendly stores that give good deals and discounts to manage our monthly expenditure," said 37-year old Avinash Crasto, a Mumbai marketing and sales executive who has a family of four and identifies as middle class.
($1 = 84.0640 Indian rupees)
India's urban consumption slows as inflation bites https://reut.rs/3UDWvl1
India's slowdown in consumption https://reut.rs/40zLdSC
(Reporting by Praveen Paramasivam in Chennai and Shivangi Acharya in New Delhi; Editing by Sam Holmes)
(([email protected]; +91 867-525-3569;))
Urban consumption hits two-year low, index shows
Inflation at 14-month high; food inflation in double-digits
Middle class frustration impacts Modi's election performance
Fast-food chains report sales declines
By Praveen Paramasivam, Shivangi Acharya
CHENNAI/NEW DELHI, Nov 13 - India's city dwellers are cutting spending on everything from cookies to fast food as persistently high inflation squeezes middle class budgets, threatening the country's brisk economic growth.
Slowing urban spending over the past three to four months has not only hurt the earnings of largest consumer goods firms, it has raised questions about the structural nature of India's long-term economic success.
Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing.
"There is a top end – the people with money are spending like that is going out of style," Nestle India Chairman Suresh Narayanan said.
"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods (FMCG) firms used to operate in, which is the middle class of the country, that seems to be shrinking."
Nestle India, which makes Kit Kats and other well-known goods, reported its first quarterly revenue drop since the COVID-hit June quarter in 2020.
While there is no officially defined income bracket for Indian middle class households, they are broadly estimated to account for a third of India's 1.4 billion people.
They are considered a key demographic both economically and politically, with middle class frustration seen as a significant factor behind Prime Minister Narendra Modi's weaker election performance this year.
Asia's third-largest economy is expected to expand 7.2% in the financial year ending March 2025, the fastest among its major peers.
Belying those rosy projections, however, are signs of a sharp slowdown in the household sector.
Indian urban consumption hit a two-year low this month, according to an index published by Citibank that captures indicators such as airline bookings, fuel sales and wages.
"While some of the fall could be temporary, the key macro drivers remain unfavourable," Citi's chief India economist Samiran Chakraborty said.
Growth in inflation-adjusted wage costs for listed Indian firms - a proxy for earnings of urban Indians - has remained below 2% for all the three quarters of 2024, well below the 10-year average of 4.4%, data from Citi showed.
Chakraborty cites this as a key factor impacting urban consumption, along with declining savings and tighter rules for personal loans.
Headline inflation has averaged 5% over the past 12 months, but food inflation has held above 8% as weather shocks elevated prices of vegetables, cereals and other essential foods. In October, retail inflation hit a 14-month high of 6.2% while food prices jumped to 10.9%.
Anecdotal data suggests retail sales rose close to 15% year-on-year during the 2024 festive season, which runs from August to November, Nomura said in a note last week, about half last year's pace.
"During this festival season, we have not spent at all," said Rajwanti Dahiya, 60, who survives on her husband's monthly pension of 30,000 Indian rupees ($356.76).
"Savings are low, barely there."
A 'SHRINKING' MIDDLE
India's central bank expects 7.2% GDP growth for the fiscal year ending March 2025 on the back of improved rural demand and a strong services sector.
Higher government investment could also support demand, said Rahul Bajoria, head of India and ASEAN economic research at Bank of America.
"If government spending kicks in, that probably does have some multiplier effects on private consumption spending as well," said Bajoria, who expects GDP growth at 6.8% in the current financial year.
Some are less optimistic with Citi and IDFC First Bank economists expecting GDP growth in the July-September quarter to miss the central bank's projected 7%, weighed by slower urban consumption.
That pessimism has hit consumer stocks with the Nifty FMCG index .NIFTYFMCG declining 13% since Oct. 1, compared with a 7.4% drop in the benchmark Nifty 50 .NSEI.
Of the FMCG index's 15 constituent firms, only one reported a pickup in sales volume growth in the September quarter.
Consumers in large cities are swapping branded items from hair oil to tea for cheaper unbranded alternatives, reflected in the first sales volume decline in 11 quarters for the foods and refreshment group at Hindustan Unilever.
"We see the growth in big city standing down, although in smaller cities and in rural the growth continues to be good," Hindustan Unilever chief executive Rohit Jawa said last month, after reporting lower than expected earnings.
Consumers are also cutting back on dining out.
Fast-food chains such as McDonald's, Burger King, Pizza Hut and KFC posted same-store sales declines, earnings showed.
While people are still coming, they are choosing cheaper meals, Rajeev Varman, CEO at Burger King operator Restaurant Brands Asia RESR.NS said after posting a 3% drop in quarterly same-store sales.
"We prefer budget-friendly stores that give good deals and discounts to manage our monthly expenditure," said 37-year old Avinash Crasto, a Mumbai marketing and sales executive who has a family of four and identifies as middle class.
($1 = 84.0640 Indian rupees)
India's urban consumption slows as inflation bites https://reut.rs/3UDWvl1
India's slowdown in consumption https://reut.rs/40zLdSC
(Reporting by Praveen Paramasivam in Chennai and Shivangi Acharya in New Delhi; Editing by Sam Holmes)
(([email protected]; +91 867-525-3569;))
Colgate Palmolive (India) posts higher Q2 profit on strong demand
Oct 24 (Reuters) - Colgate Palmolive (India) COLG.NS reported a 16% rise in second-quarter profit on Thursday helped by its expansion into rural markets and demand for its premium personal care products.
The toothpaste maker's net profit rose to 3.95 billion rupees ($47 million) in the quarter ended Sept. 30, from 3.40 billion rupees a year earlier.
In India, rural sales have outperformed urban on a year-on-year basis for the third quarter in a row for consumer goods, helped partly by higher government spending to boost the rural economy.
Colgate Palmolive's efforts to promote oral health programs in rural areas helped drive demand for its products in the hinterlands, while demand for its premium products such as 'Colgate Total' and 'Colgate Visible White' was strong among its urban consumers.
Oral care products contribute around 90% to the company's total revenue.
"Toothpaste achieved high single-digit volume growth... Toothbrush continued to grow at double digits with rapid premiumisation," said MD and CEO Prabha Narasimhan.
The company's sales rose 10% to 16.09 billion rupees, while its domestic net sales grew 10.5% during the quarter.
Meanwhile, the company's raw material costs surged 20% during the quarter, pushing its total expenses up by 13%.
Among other consumer goods makers, Hindustan Unilever HLL.NS posted a smaller-than-expected profit amid higher expenses on Wednesday, while Dabur India DABU.NS, which makes Dabur Red toothpaste, is yet to report earnings.
($1 = 84.0625 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Eileen Soreng)
(([email protected];))
Oct 24 (Reuters) - Colgate Palmolive (India) COLG.NS reported a 16% rise in second-quarter profit on Thursday helped by its expansion into rural markets and demand for its premium personal care products.
The toothpaste maker's net profit rose to 3.95 billion rupees ($47 million) in the quarter ended Sept. 30, from 3.40 billion rupees a year earlier.
In India, rural sales have outperformed urban on a year-on-year basis for the third quarter in a row for consumer goods, helped partly by higher government spending to boost the rural economy.
Colgate Palmolive's efforts to promote oral health programs in rural areas helped drive demand for its products in the hinterlands, while demand for its premium products such as 'Colgate Total' and 'Colgate Visible White' was strong among its urban consumers.
Oral care products contribute around 90% to the company's total revenue.
"Toothpaste achieved high single-digit volume growth... Toothbrush continued to grow at double digits with rapid premiumisation," said MD and CEO Prabha Narasimhan.
The company's sales rose 10% to 16.09 billion rupees, while its domestic net sales grew 10.5% during the quarter.
Meanwhile, the company's raw material costs surged 20% during the quarter, pushing its total expenses up by 13%.
Among other consumer goods makers, Hindustan Unilever HLL.NS posted a smaller-than-expected profit amid higher expenses on Wednesday, while Dabur India DABU.NS, which makes Dabur Red toothpaste, is yet to report earnings.
($1 = 84.0625 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Eileen Soreng)
(([email protected];))
DIARY- India economic, corporate events on July 29
BENGALURU, July 29 (Reuters) - Diary of India economic, corporate events on July 29
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
29-Jul-2024 | NTS | ACC.NS | ACC Ltd | Q1 2025 ACC Ltd Earnings Release |
29-Jul-2024 | NTS | ADAG.NS | Adani Total Gas Ltd | Q1 2025 Adani Total Gas Ltd Earnings Release |
29-Jul-2024 | NTS | BAJE.NS | Bharat Electronics Ltd | Q1 2025 Bharat Electronics Ltd Earnings Release |
29-Jul-2024 | NTS | COLG.NS | Colgate-Palmolive (India) Ltd | Q1 2025 Colgate-Palmolive (India)Ltd Earnings Release |
29-Jul-2024 | 11:00 | REDY.NS | Dr Reddy's Laboratories Ltd | Dr Reddy's Laboratories Ltd Annual Shareholders Meeting |
29-Jul-2024 | 12:00 | HZNC.NS | Hindustan Zinc Ltd | Hindustan Zinc Ltd Annual Shareholders Meeting |
29-Jul-2024 | AMC | INBA.NS | Indian Bank | Q1 2025 Indian Bank Earnings Release |
29-Jul-2024 | NTS | KAPT.NS | Kalpataru Projects International Ltd | Q1 2025 Kalpataru Projects International Ltd Earnings Release |
29-Jul-2024 | NTS | KANE.NS | Kansai Nerolac Paints Ltd | Q1 2025 Kansai Nerolac Paints Ltd Earnings Release |
29-Jul-2024 | NTS | KEIN.NS | KEI Industries Ltd | Q1 2025 KEI Industries Ltd Earnings Release |
29-Jul-2024 | 11:30 | LYMT.NS | Lloyds Metals And Energy Ltd | Lloyds Metals And Energy Ltd Extraordinary Shareholders Meeting |
29-Jul-2024 | NTS | PFIZ.NS | Pfizer Ltd | Q1 2025 Pfizer Ltd Earnings Release |
29-Jul-2024 | 12:31 | VEDN.NS | Vedant Fashions Ltd | Q1 2025 Vedant Fashions Ltd Earnings Release |
29-Jul-2024 | NTS | WHIR.NS | Whirlpool of India Ltd | Q1 2025 Whirlpool of India Ltd Earnings Release |
** NTS - 'No Time Scheduled', AMC - 'After Market Close'.
(Compiled by Bengaluru Newsroom)
BENGALURU, July 29 (Reuters) - Diary of India economic, corporate events on July 29
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
29-Jul-2024 | NTS | ACC.NS | ACC Ltd | Q1 2025 ACC Ltd Earnings Release |
29-Jul-2024 | NTS | ADAG.NS | Adani Total Gas Ltd | Q1 2025 Adani Total Gas Ltd Earnings Release |
29-Jul-2024 | NTS | BAJE.NS | Bharat Electronics Ltd | Q1 2025 Bharat Electronics Ltd Earnings Release |
29-Jul-2024 | NTS | COLG.NS | Colgate-Palmolive (India) Ltd | Q1 2025 Colgate-Palmolive (India)Ltd Earnings Release |
29-Jul-2024 | 11:00 | REDY.NS | Dr Reddy's Laboratories Ltd | Dr Reddy's Laboratories Ltd Annual Shareholders Meeting |
29-Jul-2024 | 12:00 | HZNC.NS | Hindustan Zinc Ltd | Hindustan Zinc Ltd Annual Shareholders Meeting |
29-Jul-2024 | AMC | INBA.NS | Indian Bank | Q1 2025 Indian Bank Earnings Release |
29-Jul-2024 | NTS | KAPT.NS | Kalpataru Projects International Ltd | Q1 2025 Kalpataru Projects International Ltd Earnings Release |
29-Jul-2024 | NTS | KANE.NS | Kansai Nerolac Paints Ltd | Q1 2025 Kansai Nerolac Paints Ltd Earnings Release |
29-Jul-2024 | NTS | KEIN.NS | KEI Industries Ltd | Q1 2025 KEI Industries Ltd Earnings Release |
29-Jul-2024 | 11:30 | LYMT.NS | Lloyds Metals And Energy Ltd | Lloyds Metals And Energy Ltd Extraordinary Shareholders Meeting |
29-Jul-2024 | NTS | PFIZ.NS | Pfizer Ltd | Q1 2025 Pfizer Ltd Earnings Release |
29-Jul-2024 | 12:31 | VEDN.NS | Vedant Fashions Ltd | Q1 2025 Vedant Fashions Ltd Earnings Release |
29-Jul-2024 | NTS | WHIR.NS | Whirlpool of India Ltd | Q1 2025 Whirlpool of India Ltd Earnings Release |
** NTS - 'No Time Scheduled', AMC - 'After Market Close'.
(Compiled by Bengaluru Newsroom)
REFILE-India's consumer stocks have edge over capex-linked ones after shock poll verdict
Corrects to "forward" from "toward" in second-last paragraph
By Bharath Rajeswaran
MUMBAI, June 5 (Reuters) - Indian consumer-focussed companies are likely to shine, while capital spending-linked firms could suffer as the government shifts its policy focus to support lower-income segments, fund managers and analysts said on Wednesday, a day after a surprise result in the national elections.
Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) secured a third term in government but without a majority of its own, confounding expectations and raising concerns over the pace of reforms and the priority of investment-led growth.
Indeed, the fast moving consumer goods (FMCG) index .BSESCGIP rose 0.15% on Tuesday, the only bright spot in the stock market carnage, which included a 12% plunge in the capital goods index .BSECG.
FMCG stocks continued their rise on Wednesday, climbing 5.2%, while capital goods companies slid 1.5%.
The BJP lacking a simple majority raises doubts over a stable government and policy-making styles, said analysts at CLSA.
The brokerage remained "overweight" on consumer staples and said ITC ITC.NS was its preferred pick in the sector.
CLSA is also positive on banks, IT and insurance companies, and replaced Larsen & Toubro (L&T) LART.NS with HCLTech HCLT.NS in its India focus portfolio.
The blue-chip Nifty 50 .NSEI and Sensex .BSESN indexes tumbled nearly 6% each on Tuesday, their worst one-day performance since March 2020.
Despite the plunge, valuations of cyclicals are expensive, said Nuvama Institutional Equities, preferring consumption-linked stocks over capital expenditure-linked sectors.
It expects weak demand to weigh on private capex and government capex to decelerate.
The Nifty 50 is currently trading at 19 times 1-year forward expected earnings (PE), below the 10-year long-term average of 20x.
Consumer staples like Hindustan Unilever HLL.NS, Britannia Industries BRIT.NS, Colgate COLG.NS are trading at a PE of 52x, 51x and 49x, respectively, lower than their long-term valuations.
Conversely, capital goods companies like L&T and Siemens Ltd SIEM.NS are trading above their long-term valuations.
"Days of paying any multiple for stocks in industries where big reforms are expected are gone," said Ashutosh Tiwari of Equirus Securities, cautioning investors to focus on sectors "where earnings visibility is more certain."
Equirus identified rural recovery as a theme that could benefit in the near term and picked building materials, consumer durables, automobiles and industrial consumables as its preferred sectors.
"The election result is likely to lead to a more balanced market; risk-reward in large caps and underperforming sectors like banking and consumer appears more favourable," said Rahul Singh, chief investment officer of equities at Mumbai-based Tata Asset Management.
"More specifically any moderation in the capital spending outlook in favour of consumption support can further drive sectoral preferences going forward," Singh said.
The change in market sentiment, he added, may lead to "greater scrutiny and valuation discipline" in sectors like capital goods, power, defence and manufacturing.
Performance of India's capital goods, consumer stocks over the last year https://reut.rs/4bIRJJn
Brokerages' preference list after India's election results https://reut.rs/3Rf1IOm
(Reporting by Bharath Rajeswaran in Mumbai; Editing by Savio D'Souza)
(([email protected]; +91 9769003463;))
Corrects to "forward" from "toward" in second-last paragraph
By Bharath Rajeswaran
MUMBAI, June 5 (Reuters) - Indian consumer-focussed companies are likely to shine, while capital spending-linked firms could suffer as the government shifts its policy focus to support lower-income segments, fund managers and analysts said on Wednesday, a day after a surprise result in the national elections.
Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) secured a third term in government but without a majority of its own, confounding expectations and raising concerns over the pace of reforms and the priority of investment-led growth.
Indeed, the fast moving consumer goods (FMCG) index .BSESCGIP rose 0.15% on Tuesday, the only bright spot in the stock market carnage, which included a 12% plunge in the capital goods index .BSECG.
FMCG stocks continued their rise on Wednesday, climbing 5.2%, while capital goods companies slid 1.5%.
The BJP lacking a simple majority raises doubts over a stable government and policy-making styles, said analysts at CLSA.
The brokerage remained "overweight" on consumer staples and said ITC ITC.NS was its preferred pick in the sector.
CLSA is also positive on banks, IT and insurance companies, and replaced Larsen & Toubro (L&T) LART.NS with HCLTech HCLT.NS in its India focus portfolio.
The blue-chip Nifty 50 .NSEI and Sensex .BSESN indexes tumbled nearly 6% each on Tuesday, their worst one-day performance since March 2020.
Despite the plunge, valuations of cyclicals are expensive, said Nuvama Institutional Equities, preferring consumption-linked stocks over capital expenditure-linked sectors.
It expects weak demand to weigh on private capex and government capex to decelerate.
The Nifty 50 is currently trading at 19 times 1-year forward expected earnings (PE), below the 10-year long-term average of 20x.
Consumer staples like Hindustan Unilever HLL.NS, Britannia Industries BRIT.NS, Colgate COLG.NS are trading at a PE of 52x, 51x and 49x, respectively, lower than their long-term valuations.
Conversely, capital goods companies like L&T and Siemens Ltd SIEM.NS are trading above their long-term valuations.
"Days of paying any multiple for stocks in industries where big reforms are expected are gone," said Ashutosh Tiwari of Equirus Securities, cautioning investors to focus on sectors "where earnings visibility is more certain."
Equirus identified rural recovery as a theme that could benefit in the near term and picked building materials, consumer durables, automobiles and industrial consumables as its preferred sectors.
"The election result is likely to lead to a more balanced market; risk-reward in large caps and underperforming sectors like banking and consumer appears more favourable," said Rahul Singh, chief investment officer of equities at Mumbai-based Tata Asset Management.
"More specifically any moderation in the capital spending outlook in favour of consumption support can further drive sectoral preferences going forward," Singh said.
The change in market sentiment, he added, may lead to "greater scrutiny and valuation discipline" in sectors like capital goods, power, defence and manufacturing.
Performance of India's capital goods, consumer stocks over the last year https://reut.rs/4bIRJJn
Brokerages' preference list after India's election results https://reut.rs/3Rf1IOm
(Reporting by Bharath Rajeswaran in Mumbai; Editing by Savio D'Souza)
(([email protected]; +91 9769003463;))
Colgate-Palmolive (India) Q4 Net Profit At 3.8 Bln Rupees
May 14 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) LTD - SECOND INTERIM DIVIDEND OF 26 RUPEES PER SHARE
COLGATE-PALMOLIVE (INDIA) Q4 NET PROFIT 3.8 BILLION RUPEES
COLGATE-PALMOLIVE (INDIA) Q4 SALES 14.81 BILLION RUPEES
COLGATE-PALMOLIVE (INDIA) LTD - ONE-TIME SPECIAL INTERIM DIVIDEND OF 10 RUPEES PER SHARE
COLGATE-PALMOLIVE (INDIA) YEAR AGO Q4 NET PROFIT 3.16 BILLION RUPEES, SALES 13.42 BILLION RUPEES
COLGATE-PALMOLIVE (INDIA) LTD - RE-APPOINTMENT OF MUKUL DEORAS AS CHAIRMAN
Source text for Eikon: ID:nBSE6KnslT
Further company coverage: COLG.NS
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May 14 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) LTD - SECOND INTERIM DIVIDEND OF 26 RUPEES PER SHARE
COLGATE-PALMOLIVE (INDIA) Q4 NET PROFIT 3.8 BILLION RUPEES
COLGATE-PALMOLIVE (INDIA) Q4 SALES 14.81 BILLION RUPEES
COLGATE-PALMOLIVE (INDIA) LTD - ONE-TIME SPECIAL INTERIM DIVIDEND OF 10 RUPEES PER SHARE
COLGATE-PALMOLIVE (INDIA) YEAR AGO Q4 NET PROFIT 3.16 BILLION RUPEES, SALES 13.42 BILLION RUPEES
COLGATE-PALMOLIVE (INDIA) LTD - RE-APPOINTMENT OF MUKUL DEORAS AS CHAIRMAN
Source text for Eikon: ID:nBSE6KnslT
Further company coverage: COLG.NS
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Colgate-Palmolive (India) Gets Tax Orders For Demand Of 11.91 Million Rupees, 10.30 Million Rupees
April 24 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) - GOT TAX ORDERS FOR DEMAND OF 11.91 MILLION RUPEES, 10.30 MILLION RUPEES
Source text for Eikon: ID:nNSE8yJ6b2
Further company coverage: COLG.NS
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April 24 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) - GOT TAX ORDERS FOR DEMAND OF 11.91 MILLION RUPEES, 10.30 MILLION RUPEES
Source text for Eikon: ID:nNSE8yJ6b2
Further company coverage: COLG.NS
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Gillette India's Q2 profit rises on better demand
Gillette India GILE.NS, known for its shaving razors and Oral B toothbrushes, posted a 39.6% rise in its second-quarter profit on Tuesday, helped by increased demand and launch of more premium products.
Gillette India, in which consumer goods giant Procter & Gamble Co PG.N holds a majority stake, reported a profit of 1.04 billion rupees ($12.5 million) for the three months ended Dec. 31, compared with 744.5 million rupees a year earlier.
Its revenue from operations rose 3.4% for the quarter.
Gillette India also declared an interim dividend of 85 rupees per share for the financial year 2023-24, which includes a one-time special dividend of 40 rupees per share.
For further results highlights, click here: nFWN3EK0JV
KEY CONTEXT
Gillette is capitalising on the changing consumer preferences in India in recent years, as a significant number of consumers, particularly the rising middle-class, favour branded products over unbranded local alternatives.
The surge in the company's second-quarter profit follows a single-digit growth in the previous quarter.
Rival Colgate-Palmolive (India) COLG.NS reported a 35.7% jump in the December-quarter profit, aided by healthy urban demand and a fall in expenses.
PEER COMPARISON
Valuation (next 12 months) | Estimates (next 12 months) | Analysts' sentiment | |||||||
RIC | PE | EV/EBITDA | Revenue growth | Profit growth | Mean rating* | # of analysts | Stock to price target** | Div yield (%) | |
Gillette India Ltd | GILE.NS | 50.29 | 31.76 | 11.21 | 17.20 | Strong Buy | 1 | 0.88 | 1.31 |
Colgate-Palmolive (India) Ltd | COLG.NS | 50.07 | 34.05 | 8.09 | 10.97 | Hold | 28 | 1.10 | 1.70 |
Hindustan Unilever Ltd | HLL.NS | 50.90 | 35.33 | 6.80 | 9.37 | Buy | 19 | 0.89 | 1.64 |
Marico Ltd | MRCO.NS | 41.20 | 29.39 | 8.49 | 10.06 | Buy | 38 | 0.88 | 0.87 |
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
OCTOBER-DECEMBER STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 83.1217 Indian rupees
OCTOBER-DECEMBER STOCK PERFORMANCE https://tmsnrt.rs/3u4w7H5
(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Dhanya Ann Thoppil and Mrigank Dhaniwala)
(([email protected]; +91 8805175330 ;))
Gillette India GILE.NS, known for its shaving razors and Oral B toothbrushes, posted a 39.6% rise in its second-quarter profit on Tuesday, helped by increased demand and launch of more premium products.
Gillette India, in which consumer goods giant Procter & Gamble Co PG.N holds a majority stake, reported a profit of 1.04 billion rupees ($12.5 million) for the three months ended Dec. 31, compared with 744.5 million rupees a year earlier.
Its revenue from operations rose 3.4% for the quarter.
Gillette India also declared an interim dividend of 85 rupees per share for the financial year 2023-24, which includes a one-time special dividend of 40 rupees per share.
For further results highlights, click here: nFWN3EK0JV
KEY CONTEXT
Gillette is capitalising on the changing consumer preferences in India in recent years, as a significant number of consumers, particularly the rising middle-class, favour branded products over unbranded local alternatives.
The surge in the company's second-quarter profit follows a single-digit growth in the previous quarter.
Rival Colgate-Palmolive (India) COLG.NS reported a 35.7% jump in the December-quarter profit, aided by healthy urban demand and a fall in expenses.
PEER COMPARISON
Valuation (next 12 months) | Estimates (next 12 months) | Analysts' sentiment | |||||||
RIC | PE | EV/EBITDA | Revenue growth | Profit growth | Mean rating* | # of analysts | Stock to price target** | Div yield (%) | |
Gillette India Ltd | GILE.NS | 50.29 | 31.76 | 11.21 | 17.20 | Strong Buy | 1 | 0.88 | 1.31 |
Colgate-Palmolive (India) Ltd | COLG.NS | 50.07 | 34.05 | 8.09 | 10.97 | Hold | 28 | 1.10 | 1.70 |
Hindustan Unilever Ltd | HLL.NS | 50.90 | 35.33 | 6.80 | 9.37 | Buy | 19 | 0.89 | 1.64 |
Marico Ltd | MRCO.NS | 41.20 | 29.39 | 8.49 | 10.06 | Buy | 38 | 0.88 | 0.87 |
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
OCTOBER-DECEMBER STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 83.1217 Indian rupees
OCTOBER-DECEMBER STOCK PERFORMANCE https://tmsnrt.rs/3u4w7H5
(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Dhanya Ann Thoppil and Mrigank Dhaniwala)
(([email protected]; +91 8805175330 ;))
Colgate-Palmolive India posts Q3 profit jump on lower expenses, urban demand
BENGALURU, Jan 22 (Reuters) - Colgate-Palmolive (India) COLG.NS reported a 35.7% jump in third-quarter profit on Monday, aided by healthy urban demand and a fall in expenses.
Net profit rose to 3.30 billion rupees ($39.7 million) for the quarter ended Dec. 31 from 2.43 billion rupees a year earlier.
Sales of consumer goods makers have been boosted by urban consumers with higher average income, even in the face of elevated prices of essential goods.
Total expenses fell 0.5%, helped by lower inventory and raw material costs.
The Indian arm of the U.S. consumer goods major reported an 8.2% increase in sales to 13.86 billion rupees, helped by its core oral care category.
The company also ran a campaign during the quarter that reached over 300 million people in urban India, CEO Prabha Narasimhan said in a statement.
Rival Hindustan Unilever HLL.NS posted a smaller-than-expected increase in quarterly profit on Friday, as competition intensified in the consumer goods sector and demand in rural markets remained weak.
Additionally, Dabur India DABU.NS, set to report results next week, said earlier this month that it expects mid- to high-single-digit growth in consolidated revenue for the third quarter, citing subdued pricing growth and disparity in demand between rural and urban areas.
Shares of Colgate-Palmolive rose 0.26% so far this year, contrasting a 1.8% decline in the Nifty FMCG index .NIFTYFMCG.
($1 = 83.1340 Indian rupees)
(Reporting by Ashna Teresa Britto and Navamya Ganesh Acharya in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected];))
BENGALURU, Jan 22 (Reuters) - Colgate-Palmolive (India) COLG.NS reported a 35.7% jump in third-quarter profit on Monday, aided by healthy urban demand and a fall in expenses.
Net profit rose to 3.30 billion rupees ($39.7 million) for the quarter ended Dec. 31 from 2.43 billion rupees a year earlier.
Sales of consumer goods makers have been boosted by urban consumers with higher average income, even in the face of elevated prices of essential goods.
Total expenses fell 0.5%, helped by lower inventory and raw material costs.
The Indian arm of the U.S. consumer goods major reported an 8.2% increase in sales to 13.86 billion rupees, helped by its core oral care category.
The company also ran a campaign during the quarter that reached over 300 million people in urban India, CEO Prabha Narasimhan said in a statement.
Rival Hindustan Unilever HLL.NS posted a smaller-than-expected increase in quarterly profit on Friday, as competition intensified in the consumer goods sector and demand in rural markets remained weak.
Additionally, Dabur India DABU.NS, set to report results next week, said earlier this month that it expects mid- to high-single-digit growth in consolidated revenue for the third quarter, citing subdued pricing growth and disparity in demand between rural and urban areas.
Shares of Colgate-Palmolive rose 0.26% so far this year, contrasting a 1.8% decline in the Nifty FMCG index .NIFTYFMCG.
($1 = 83.1340 Indian rupees)
(Reporting by Ashna Teresa Britto and Navamya Ganesh Acharya in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected];))
Colgate-Palmolive (India) Says State Goods And Service Tax Officer, Chennai, Conducted A Search At Chennai Warehouse
Nov 21 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) - STATE GOODS AND SERVICE TAX OFFICER, CHENNAI, CONDUCTED A SEARCH AT CO'S CHENNAI WAREHOUSE
COLGATE-PALMOLIVE (INDIA) LTD - SEARCH CONDUCTED FROM 16 NOVEMBER 2023 TO 17 NOVEMBER 2023
COLGATE-PALMOLIVE (INDIA) LTD - BUSINESS OPERATIONS OF COMPANY CONTINUED AS USUAL
Source text for Eikon: ID:nBSE9qjShc
Further company coverage: COLG.NS
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Nov 21 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
COLGATE-PALMOLIVE (INDIA) - STATE GOODS AND SERVICE TAX OFFICER, CHENNAI, CONDUCTED A SEARCH AT CO'S CHENNAI WAREHOUSE
COLGATE-PALMOLIVE (INDIA) LTD - SEARCH CONDUCTED FROM 16 NOVEMBER 2023 TO 17 NOVEMBER 2023
COLGATE-PALMOLIVE (INDIA) LTD - BUSINESS OPERATIONS OF COMPANY CONTINUED AS USUAL
Source text for Eikon: ID:nBSE9qjShc
Further company coverage: COLG.NS
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Dabur India beats profit estimates on higher demand for household products
Adds background, details on sales, shares
CHENNAI, Nov 2 (Reuters) - Consumer goods maker Dabur India DABU.NS reported second-quarter profit above market expectations on Thursday, benefiting from rising demand in its household and personal care and healthcare segments.
The company's consolidated net profit rose 5% to 5.15 billion Indian rupees ($61.89 million) for the quarter ended Sept. 30, from 4.9 billion rupees a year earlier.
Analysts, on average, expected a profit of 5.13 billion rupees, according to LSEG data.
Increasing demand for personal care products and stiff competition has prompted major consumer goods makers from Colgate-Palmolive India COLG.NS to Dabur to launch new products, including toothpaste variants.
Revenue from operations climbed 7.3% to 32.04 billion rupees.
In its quarterly update last month, Dabur said its healthcare as well as household and personal care businesses - housing products ranging from Vatika shampoos to its digestive supplement brand Hajmola - posted a high single-digit percentage growth in India.
The household and personal care segment accounted for more than 50% of Dabur India's sales. India also makes up roughly three-fourths of the company's topline.
The jury, however, is out on natural healthcare products, with a few medical professionals questioning their safety and efficiency on social media platforms, including X, formerly called Twitter. Dabur subsidiaries were also sued in the U.S. and Canada.
After a lacklustre quarter for the consumer goods industry, analysts expect sales volumes to recover in the second half of fiscal 2024 on expectations of a pickup in farm incomes - which will boost rural demand - and signs of cooling inflation.
Dabur shares rose more than 2% after reporting results, trimming their year-to-date decline to nearly 6%, while the Nifty FMCG index climbed nearly 17% this year.
($1 = 83.2170 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai; Editing by Sonia Cheema and Janane Venkatraman)
(([email protected]; +91 867-525-3569;))
Adds background, details on sales, shares
CHENNAI, Nov 2 (Reuters) - Consumer goods maker Dabur India DABU.NS reported second-quarter profit above market expectations on Thursday, benefiting from rising demand in its household and personal care and healthcare segments.
The company's consolidated net profit rose 5% to 5.15 billion Indian rupees ($61.89 million) for the quarter ended Sept. 30, from 4.9 billion rupees a year earlier.
Analysts, on average, expected a profit of 5.13 billion rupees, according to LSEG data.
Increasing demand for personal care products and stiff competition has prompted major consumer goods makers from Colgate-Palmolive India COLG.NS to Dabur to launch new products, including toothpaste variants.
Revenue from operations climbed 7.3% to 32.04 billion rupees.
In its quarterly update last month, Dabur said its healthcare as well as household and personal care businesses - housing products ranging from Vatika shampoos to its digestive supplement brand Hajmola - posted a high single-digit percentage growth in India.
The household and personal care segment accounted for more than 50% of Dabur India's sales. India also makes up roughly three-fourths of the company's topline.
The jury, however, is out on natural healthcare products, with a few medical professionals questioning their safety and efficiency on social media platforms, including X, formerly called Twitter. Dabur subsidiaries were also sued in the U.S. and Canada.
After a lacklustre quarter for the consumer goods industry, analysts expect sales volumes to recover in the second half of fiscal 2024 on expectations of a pickup in farm incomes - which will boost rural demand - and signs of cooling inflation.
Dabur shares rose more than 2% after reporting results, trimming their year-to-date decline to nearly 6%, while the Nifty FMCG index climbed nearly 17% this year.
($1 = 83.2170 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai; Editing by Sonia Cheema and Janane Venkatraman)
(([email protected]; +91 867-525-3569;))
Colgate-Palmolive (India) Sept-Qtr Net Profit at 3.4 Billion Rupees
Oct 26 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
DIVIDEND 22 RUPEES PER SHARE
SEPT-QUARTER NET PROFIT 3.4 BILLION RUPEES
SEPT-QUARTER SALES 14.62 BILLION RUPEES
YEAR AGO SEPT-QUARTER NET PROFIT 2.78 BILLION RUPEES, SALES 13.78 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: COLG.NS
(([email protected];))
Oct 26 (Reuters) - Colgate-Palmolive (India) Ltd COLG.NS:
DIVIDEND 22 RUPEES PER SHARE
SEPT-QUARTER NET PROFIT 3.4 BILLION RUPEES
SEPT-QUARTER SALES 14.62 BILLION RUPEES
YEAR AGO SEPT-QUARTER NET PROFIT 2.78 BILLION RUPEES, SALES 13.78 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: COLG.NS
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Colgate-Palmolive's Indian unit reports Q1 profit rise on demand recovery
BENGALURU, July 26 (Reuters) - Toothpaste maker Colgate-Palmolive (India)'s COLG.NS quarterly profit rose 30.5% on Wednesday, aided by improved domestic demand.
Net profit rose to 2.74 billion rupees ($33.40 million) for the quarter ended June 30 compared to 2.10 billion rupees a year earlier.
Steady rural demand pick-up and some ease in domestic retail inflation helped Indian consumer goods companies log gains during the quarter.
Sales rose nearly 10.8% to 13.15 billion rupees, boosted by the company's mainstay oral care category, with toothpaste sales in the high double digits.
Domestic sales grew 12.3%, with the sector seeing early signs of recovery in rural areas, Colgate-Palmolive India CEO Prabha Narasimhan said in a statement.
In April, the company's U.S.-based parent Colgate-Palmolive Co CL.N raised its full-year organic sales forecast, betting on consistent price hikes and demand for its pet nutrition products.
The company is set to report its June-quarter earnings on Friday.
The Indian unit's results come after it reported a drop in profit in three of the prior four quarters.
Earlier this month, local rival Dabur India DABU.NS said it expects June-quarter sales to grow over 10% and gross margin to expand due to easing inflation.
Dabur will report its quarterly earnings on Aug. 3 while bigger rival Hindustan Unilever HLL.NS missed profit estimates last week due to higher expenses.
Shares of Colgate-Palmolive (India) hit an all-time high of 1,909 rupees on Wednesday before closing 0.8% down ahead of its results. The stock has risen 22.6% this year compared to a 19.7% gain in the Nifty FMCG index .NIFTYFMCG.
($1 = 82.0312 Indian rupees)
(Reporting by Biplob Kumar Das in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 9101861583;))
BENGALURU, July 26 (Reuters) - Toothpaste maker Colgate-Palmolive (India)'s COLG.NS quarterly profit rose 30.5% on Wednesday, aided by improved domestic demand.
Net profit rose to 2.74 billion rupees ($33.40 million) for the quarter ended June 30 compared to 2.10 billion rupees a year earlier.
Steady rural demand pick-up and some ease in domestic retail inflation helped Indian consumer goods companies log gains during the quarter.
Sales rose nearly 10.8% to 13.15 billion rupees, boosted by the company's mainstay oral care category, with toothpaste sales in the high double digits.
Domestic sales grew 12.3%, with the sector seeing early signs of recovery in rural areas, Colgate-Palmolive India CEO Prabha Narasimhan said in a statement.
In April, the company's U.S.-based parent Colgate-Palmolive Co CL.N raised its full-year organic sales forecast, betting on consistent price hikes and demand for its pet nutrition products.
The company is set to report its June-quarter earnings on Friday.
The Indian unit's results come after it reported a drop in profit in three of the prior four quarters.
Earlier this month, local rival Dabur India DABU.NS said it expects June-quarter sales to grow over 10% and gross margin to expand due to easing inflation.
Dabur will report its quarterly earnings on Aug. 3 while bigger rival Hindustan Unilever HLL.NS missed profit estimates last week due to higher expenses.
Shares of Colgate-Palmolive (India) hit an all-time high of 1,909 rupees on Wednesday before closing 0.8% down ahead of its results. The stock has risen 22.6% this year compared to a 19.7% gain in the Nifty FMCG index .NIFTYFMCG.
($1 = 82.0312 Indian rupees)
(Reporting by Biplob Kumar Das in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 9101861583;))
Colgate-Palmolive's India unit beats Q4 profit view on price hikes
BENGALURU/CHENNAI, May 12 (Reuters) - Colgate-Palmolive (India) Ltd's COLG.NS fourth-quarter profit fell less than expected, helped by price hikes implemented to combat surging costs.
The Indian arm of the U.S. consumer goods major reported a 2.3% fall in net profit to 3.16 billion rupees ($38.64 million) for the quarter ended March 31.
Analysts, on average, had expected a profit of 2.71 billion rupees, according to Refinitiv IBES.
The net profit includes a one-time tax reversal, barring which it had risen nearly 9%.
The toothpaste maker's sales rose nearly 4% to 13.42 billion rupees, with analysts attributing it to price hikes. Total expenses were up nearly 3%.
The company raised prices to combat increasing costs, a move also made by peers such as Dabur India Ltd DABU.NS, Hindustan Unilever Ltd HLL.NS, and Nestle India Ltd NEST.NS.
Toothpaste posted high-single-digit percentage sales growth, helped by the launch of higher-priced products even as the broader category struggled in rural areas, according to Colgate-Palmolive India CEO Prabha Narasimhan.
Colgate-Palmolive India's better-than-feared earnings come after it had reported a drop in profit in two of the prior three quarters.
Its parent company raised its full-year organic sales forecast last month, betting on consistent price hikes and steady demand for its pet nutrition products under the Hill's Pet Nutrition brand.
Consumer goods makers in India are likely set up for further sales gains in the April-June quarter as well, with a Reuters poll of economists finding India's consumer inflation likely cooled to an 18-month low in April due to a moderation in prices.
However, they have reported mixed earnings for the March quarter so far: toothpaste-maker Dabur posted shrinking margins, while Pepsi-bottler Varun Beverages VARB.NS recorded profit growth.
Shares of Colgate-Palmolive India fell nearly 2% in the January-March quarter against an almost 4% rise in the Nifty FMCG Index .NIFTYFMCG.
($1 = 81.7800 Indian rupees)
(Reporting by Varun Vyas in Bengaluru and Praveen Paramasivam in Chennai; Editing by Janane Venkatraman )
(([email protected];))
BENGALURU/CHENNAI, May 12 (Reuters) - Colgate-Palmolive (India) Ltd's COLG.NS fourth-quarter profit fell less than expected, helped by price hikes implemented to combat surging costs.
The Indian arm of the U.S. consumer goods major reported a 2.3% fall in net profit to 3.16 billion rupees ($38.64 million) for the quarter ended March 31.
Analysts, on average, had expected a profit of 2.71 billion rupees, according to Refinitiv IBES.
The net profit includes a one-time tax reversal, barring which it had risen nearly 9%.
The toothpaste maker's sales rose nearly 4% to 13.42 billion rupees, with analysts attributing it to price hikes. Total expenses were up nearly 3%.
The company raised prices to combat increasing costs, a move also made by peers such as Dabur India Ltd DABU.NS, Hindustan Unilever Ltd HLL.NS, and Nestle India Ltd NEST.NS.
Toothpaste posted high-single-digit percentage sales growth, helped by the launch of higher-priced products even as the broader category struggled in rural areas, according to Colgate-Palmolive India CEO Prabha Narasimhan.
Colgate-Palmolive India's better-than-feared earnings come after it had reported a drop in profit in two of the prior three quarters.
Its parent company raised its full-year organic sales forecast last month, betting on consistent price hikes and steady demand for its pet nutrition products under the Hill's Pet Nutrition brand.
Consumer goods makers in India are likely set up for further sales gains in the April-June quarter as well, with a Reuters poll of economists finding India's consumer inflation likely cooled to an 18-month low in April due to a moderation in prices.
However, they have reported mixed earnings for the March quarter so far: toothpaste-maker Dabur posted shrinking margins, while Pepsi-bottler Varun Beverages VARB.NS recorded profit growth.
Shares of Colgate-Palmolive India fell nearly 2% in the January-March quarter against an almost 4% rise in the Nifty FMCG Index .NIFTYFMCG.
($1 = 81.7800 Indian rupees)
(Reporting by Varun Vyas in Bengaluru and Praveen Paramasivam in Chennai; Editing by Janane Venkatraman )
(([email protected];))
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What does Colgate Palmol. (I) do?
Colgate-Palmolive (India) Limited is a leading company in personal care products, offering a wide range including oral care, personal care, and household care products. It has recently introduced a line of products catering to dentists' needs.
Who are the competitors of Colgate Palmol. (I)?
Colgate Palmol. (I) major competitors are Emami, Gillette India, Zydus Wellness, Bajaj Corp, Kaya, Radix Industries (I), Lloyds Luxuries. Market Cap of Colgate Palmol. (I) is ₹72,261 Crs. While the median market cap of its peers are ₹2,412 Crs.
Is Colgate Palmol. (I) financially stable compared to its competitors?
Colgate Palmol. (I) seems to be less financially stable compared to its competitors. Altman Z score of Colgate Palmol. (I) is 10.23 and is ranked 7 out of its 8 competitors.
Does Colgate Palmol. (I) pay decent dividends?
The company seems to pay a good stable dividend. Colgate Palmol. (I) latest dividend payout ratio is 119.18% and 3yr average dividend payout ratio is 107.12%
How has Colgate Palmol. (I) allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments, Short Term Loans & Advances
How strong is Colgate Palmol. (I) balance sheet?
Balance sheet of Colgate Palmol. (I) is strong. But short term working capital might become an issue for this company.
Is the profitablity of Colgate Palmol. (I) improving?
Yes, profit is increasing. The profit of Colgate Palmol. (I) is ₹1,462 Crs for TTM, ₹1,324 Crs for Mar 2024 and ₹1,047 Crs for Mar 2023.
Is the debt of Colgate Palmol. (I) increasing or decreasing?
Yes, The debt of Colgate Palmol. (I) is increasing. Latest debt of Colgate Palmol. (I) is -₹1,338.23 Crs as of Sep-24. This is greater than Mar-24 when it was -₹2,747.57 Crs.
Is Colgate Palmol. (I) stock expensive?
Yes, Colgate Palmol. (I) is expensive. Latest PE of Colgate Palmol. (I) is 49.44, while 3 year average PE is 46.78. Also latest EV/EBITDA of Colgate Palmol. (I) is 35.6 while 3yr average is 31.75.
Has the share price of Colgate Palmol. (I) grown faster than its competition?
Colgate Palmol. (I) has given lower returns compared to its competitors. Colgate Palmol. (I) has grown at ~31.4% over the last 2yrs while peers have grown at a median rate of 32.95%
Is the promoter bullish about Colgate Palmol. (I)?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Colgate Palmol. (I) is 51.0% and last quarter promoter holding is 51.0%.
Are mutual funds buying/selling Colgate Palmol. (I)?
The mutual fund holding of Colgate Palmol. (I) is increasing. The current mutual fund holding in Colgate Palmol. (I) is 4.69% while previous quarter holding is 4.2%.