Add Colgate-Palmolive (India), target price Rs 1800: ICICI Securities

ICICI Securities has add call on Colgate-Palmolive (India) with a target price of Rs 1800. The current market price of Colgate-Palmolive (India) is Rs 1616.9. 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 43816.89 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-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 1310.13 Crore, up 1.89 % from last quarter Total Income of Rs 1285.80 Crore and up 1.58 % from last year same quarter Total Income of Rs 1289.81 Crore. Company reported net profit after tax of Rs 323.57 Crore in latest quarter.

Investment Rationale
The earnings estimates are largely unchanged; modelling revenue / EBITDA / PAT CAGR of 9 / 9 / 8 (%) over FY22-24E. It maintains ADD with DCF-based unchanged target price of Rs1,800. Key downside risk is lower-than- expected market share gains.

Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 18.64 per cent, DIIs 8.06 per cent.