Colgate Q4 earnings: Net profit slips 2.28% YoY in Q4, Board declares second interim dividend of ₹21
Colgate Palmolive (India) is a large-cap company that recorded a market cap of ₹44,271 Cr during today’s closing session. For the quarter that ended on March 31, 2023, Colgate-Palmolive (India) Limited today announced net sales of Rs. 1,341.7 crore, a rise of 3.7% from Rs 1293.35 Cr during the same period the previous year. In comparison to the reported net profit of Rs. 323.6 crore for the same quarter last year, the PAT for the quarter was Rs. 316.2 crore, a drop of 2.28% YoY. The firm reported a 5.4% increase in domestic for Q4FY23.
Net Sales were reported at Rs. 5,187.9 crore for the fiscal year that ended on March 31, 2023, up 2.4% from Rs 5066.46 Cr recorded in the prior year. Compared to the previous year’s net profit of Rs. 1,078.3 crore, the reported net profit for FY23 was Rs. 1,047.1 crore.
“The Board declared a Second Interim Dividend for the Financial Year 2022-23 of Rs. 21/-per share of Re 1 each (face value). The dividend payout to the shareholders will be Rs. 571.17 Crore and will be paid on or after June 8, 2023 to those shareholders whose names are on the Register of Members of the Company as on May 20, 2023. The Total Dividend would be Rs. 39/- per share for the year 2022-23,” said Colgate-Palmolive (India) in a stock exchange filing.
Ms. Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, “We are happy with the sequential progress and outcomes of the quarter. The Company has delivered domestic growth of 5.4%, with toothpaste delivering high single digit growth despite continuing sluggish demand trends in the category, especially in rural. This has been driven by our strategy to increase consumption, innovation focussed on delivering high quality science-led products and premiumisation. We remain fairly optimistic that the overall category growth will improve in the coming quarters.”
“Continuing its focus on building healthy oral care habits in India, the country’s biggest toothpaste brand “Colgate Strong Teeth” is being relaunched in an improved formula with unique, best in class, Arginine technology. The presence of Arginine and Fluoride in Colgate Strong Teeth, helps in 2X enhancement of the process of restoring the natural calcium from saliva back to teeth. This results in nourished teeth which are 2X stronger and hence “Paste Hi Nahi, Poshan Hai Ye”,” said Prabha Narasimhan.
“On our innovation journey, Colgate continues to lead teeth whitening in India and has launched the Visible White Teeth Whitening Pen. This specially formulated whitening serum is an efficacious at-home whitening solution that brightens your smile while you sleep. Launched exclusively through our professional partners and our exclusive B2B platform (Dentist First), the Teeth Whitening Pen elevates our consumers’ oral beauty regimen,” she further added.
“Our combined Annual & ESG report to be launched in June will report the excellent progress on our initiatives on women livelihood, water augmentation in water stressed regions, cleft surgeries in regions with low or no medical aid, along with steps on our Bright Smiles Bright Future TM program in partnership with the state of Andhra Pradesh. On the sustainability front, we continue to be plastic neutral this year and have maintained True Zero Waste certification across all our plants. Our Goa and Sri City plants have already turned Net Positive this year ahead of our water target of Net Zero for 2025,” said Prabha Narasimhan.
The shares of Colgate Palmolive (India) closed on the NSE at ₹1,621 apiece down by 0.32% from the previous close of ₹1,626.15.
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