Add Colgate-Palmolive (India), target price Rs 1750: ICICI Securities

ICICI Securities has add call on Colgate-Palmolive (India) with a target price of Rs 1750. The current market price of Colgate-Palmolive (India) is Rs 1603.05. Time period given by analyst is one year when Colgate-Palmolive (India) Ltd. price can reach defined target.

Colgate-Palmolive (India) Ltd., incorporated in the year 1937, is a Large Cap company (having a market cap of Rs 43708.09 Crore) operating in FMCG sector.

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



Financials
For the quarter ended 30-09-2022, the company reported a Standalone Total Income of Rs 1398.76 Crore, up 15.76 % from last quarter Total Income of Rs 1208.35 Crore and up 2.93 % from last year same quarter Total Income of Rs 1358.93 Crore. Company reported net profit after tax of Rs 278.02 Crore in latest quarter.

Investment Rationale
The brokerage believes weak macros have likely delayed the execution on some of the important markers. Potential to diversify the portfolio outside of oral-care is the only reason, for now, for ADD rating.

Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 18.7 per cent, DIIs 8.83 per cent.