Views on Colgate Palmolive India 3QFY2014 results - Angel Broking

Views of Mr. V. Srinivasan (Research Analyst - FMGC, Angel Broking) on Colgate Palmolive India 3QFY2014 results:

"For 3QFY2014 Colgate Palmolive India (Colgate) results were in-line with expectations. Top-line rose by 15.9% yoy to Rs. 884cr aided by both volume and value growth. The company's volume growth for the quarter stood at 10%, aided by an 11% yoy growth in the toothpaste category. The company enhanced its leadership in the toothpaste category and achieved a volume market share of 56.0% for the year 2013 from 54.5% in 2012. OPM stood at 16.2% down 67bp on yoy basis, impacted by higher advertising expenses (up 64bp yoy) and higher other expenses (up 311bp yoy). Net profit rose by 1.6% yoy to Rs. 113cr. We maintain a neutral rating on the stock."

Source : Equity Bulls

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