Buy Colgate-Palmolive (India), target price Rs 1660: Kotak Securities Limited

Kotak Securities Limited has buy call on Colgate-Palmolive (India) with a target price of Rs 1660.The current market price of Colgate-Palmolive (India) is Rs 1607.7. Kotak Securities Limited recommended to keep stoploss at Rs 1585.

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


Financials
For the quarter ended 31-03-2023, the company has reported a Standalone Total Income of Rs 1370.98 Crore, up 5.32 % from last quarter Total Income of Rs 1301.68 Crore and up 4.64 % from last year same quarter Total Income of Rs 1310.13 Crore. Company has reported net profit after tax of Rs 316.22 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 31-03-2023, the company has a total of 27 Crore shares outstanding.

Investment Rationale
Trading near important retracement zone, which suggests reversal and resumption of uptrend.

Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 31-Mar-2023, while FIIs owned 21.5 per cent, DIIs 6.89 per cent.