Colgate India share price: HSBC maintain price target at Rs 1800
Colgate India Q3 FY21 delivered impressive 10.1% domestic sales growth in Q3, implying mid-to-high single-digit volume growth, a further improvement sequentially. Reported net sales rose 7.8% yoy (due to weaker export sales) and were in line with consensus. Gross margin of Colgate expanded sharply by 417 bp yoy to 69.6%. Colgate significantly stepped up investment in A&P spend, by 38% yoy, yet managed to deliver a 245 bp EBITDA margin expansion.
Colgate expanded its naturals portfolio by introducing new categories such as mouth spray and oil pulling, and also launched a unique toothpaste for Diabetics in Q3: Reuters