Add Colgate-Palmolive (India), target price Rs 1650: ICICI Securities

ICICI Securities has add call on Colgate-Palmolive (India) with a target price of Rs 1650. The current market price of Colgate-Palmolive (India) is Rs 1467.45.

Colgate-Palmolive (India), incorporated in the year 1937, is a Large Cap company (having a market cap of Rs 39674.54 Crore) operating in FMCG sector.

Colgate-Palmolive (India) key Products/Revenue Segments include Personal Care, Service Income and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 1301.68 Crore, down -6.94 % from last quarter Total Income of Rs 1398.76 Crore and up 1.24 % from last year same quarter Total Income of Rs 1285.80 Crore. Company has reported net profit after tax of Rs 243.24 Crore in latest quarter.

The company’s top management includes Mr.Mukul Deoras, Mr.M S Jacob, Mr.Surender Sharma, Mr.Sekhar Natarajan, Ms.Gopika Pant, Mr.Vikram Singh Mehta, Ms.Sukanya Kripalu, Dr.(Ms.)Indu Shahani, Ms.Shyamala Gopinath. Company has SRBC & Co LLP as its auditors. As on 31-12-2022, the company has a total of 27 Crore shares outstanding.

Investment Rationale
Potential to diversify the portfolio outside of oral-care is the ONLY reason, for now, for the brokerage's ADD rating.