First Cut- Colgate Palmolive Q3 FY12 Results - Microsec Research

Colgate Palmolive India announced its Q3 FY12 results on 23 Jan 2012. The company's Net sales increased by 18% YOY and flat QOQ to INR660 crore while its PAT increased by 74% YOY and 16% QOQ to INR116 crore. EBITDA Margin of the company improved to 22.0% vs 16.1% YOY. In Dec2010 quarter (previous year), the expenditure of the company increased sharply due to aggressive branding efforts for Colgate Sensitive, Colgate Total and Plax and one-off expenditure for the OHM campaign which resulted in lower profit. In Dec2009 quarter, PAT of the company was 116 crore. So the PAT has been almost flat if we compare with Dec 2009 quarter. However the Results were slightly better in this quarter than the expectation. At the CMP of INR1000, the stock discounts its FY12E EPS of INR31.8 by 31.5x.

Source : Equity Bulls

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