Colgate-Palmolive - Rating: Hold; Target price: Rs1215 - Centrum

We expect Q3FY14 revenue to be up 17.5% YoY on the back of 11% volume growth in the toothpaste category along with 7% price hike.

Operating margins are expected to dip by 60bps on the back of higher A&P spends.

PAT is expected to grow by 5% to Rs1167mn.

Sales are expected to grow by 16% on the back of ~8% volume growth in the MFD segment along with 8% price hike.

Margin is expected to grow by 200bps YoY on the back of lower other expenditure.

PAT is expected to grow by 34.5% to Rs936mn.

Source : Equity Bulls

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