Colgate-Palmolive India Ltd announces Q2FY21, H1FY21 results

Q2 2020-21: Colgate-Palmolive (India) Limited today reported Net Sales of Rs. 1,277.6 crore for the quarter ended September 30, 2020, an increase of 5.3% over the same quarter of the previous year. Domestic net sales for the quarter reported 7.1% growth. Reported Net profit after tax for the quarter was Rs. 274.2 crore as against the Net Profit of Rs. 244.1 crore for the same quarter of the previous year. Excluding the one time impact of tax rate change in the previous year, the Net profit growth is 32%.

H1 2020-21 : Net Sales for the half year ended September 30, 2020 was recorded at Rs. 2,311.3 crore, an increase of 1% over the same period of the previous year. Reported net profit for the same period was Rs. 472.4 crore, an increase of 14% over the previous period.

Mr. Ram Raghavan, Managing Director at Colgate-Palmolive (India) Ltd, said, "We are very pleased with our performance as we continue to see momentum strengthening across the portfolio with Domestic revenue growing at 7.1% this quarter.

Our resilience and disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us drove improvements in key financial metrics with gross margins and EBITDA at 67.9% and 32% respectively. Our Net Profit before tax grew by 32% and we are pleased that we were able to increase shareholder value while we continue to drive innovation that meets the needs of our consumers.

All categories saw positive growth this quarter with Toothpaste continuing its accelerated performance, driven by strong brand fundamentals and household penetration.

The quarter also saw some exciting innovation. We launched Colgate Visible White Instant, with its unique optical brighteners technology that starts whitening from the first brushing itself.

The new Colgate Gentle line of toothbrushes offers an effective yet gentle clean. Launched across price points, it offers solutions to different consumer preferences. We also relaunched our flagship toothbrush, Colgate Zig Zag, with unique anti-bacterial bristle technology.

Another first from our stable, was the launch of our Colgate Vedshakti Mouth spray. A pocket sized solution that offers instant germ kill with a refreshing minty saunf flavour, that consumers love.

Our sharp focus aimed at fulfilling demand and ensuring uninterrupted access ensured agile and innovative approaches, specifically in our Supply Chain and Distribution efforts. As an organisation we continue to live our values and remain unwavering in our focus to improve the health and well being of our consumers. We are thankful to our customers, business partners and employees for their continued support."

DIVIDEND

The Board declared a First Interim Dividend for the Financial Year 2020-21 of Rs.18 per share of Re 1 each (face value). The dividend payout to the shareholders will be Rs. 489.6 Crore and will be paid on and from November 17, 2020 to those shareholders whose names are on the Register of Members of the Company as on November 2, 2020.

Shares of COLGATE-PALMOLIVE (INDIA) LTD. was last trading in BSE at Rs.1464 as compared to the previous close of Rs. 1477.4. The total number of shares traded during the day was 46735 in over 3058 trades.

The stock hit an intraday high of Rs. 1487.2 and intraday low of 1456.9. The net turnover during the day was Rs. 68510007.

Source : Equity Bulls

Keywords