Colgate Q3 Review - Gross Margin Expansion Leads To Beat On Estimates: Motilal Oswal
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Motilal Oswal Report
Colgate Palmolive India Ltd.’s Ebitda and profit after tax growth for Q3 FY21 was ahead of estimates – led by the highest quarterly gross margin in the last 10 years and lower-than-expected depreciation.
Meanwhile, sales and volume growth, currently in the mid-single digits, is yet to show signs of approaching an elevated trajectory.
New launches appear promising of late. However, traction on these launches or entry into new categories is needed for the company to grow the topline and earnings above the low- to mid-single-digit compound annual growth rates seen in the past five years
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