Colgate-Palmolive Hits 2nd 52-Week High After 33% Rise In PAT, Buy Or Sell Post Q1?

Large cap FMCG major Colgate-Palmolive India Ltd. shares today hit 2nd consecutive 52-week high after the company declared a surge of 33% in its net profit for the June quarter of FY25 to Rs 364 crore as against Rs 273.68 crore declared in the corresponding quarter of last year. Current market price of Colgate-Palmolive (India) share on BSE is Rs 3363.70 per share with gain of 4.82% in trade today. Colgate-Palmolive shares offered return of 18% in last 1-month and gained 112% in last 2-years. Colgate-Palmolive has a market capitalisation of Rs 91,544.92 crore. LIC has stake of 1.79% in Colgate-Palmolive as it holds 4,864,577 shares of the FMCG firm. More details given below:

Should You Buy Colgate-Palmolive Shares After Q1 Results: Several leading brokerages have recommended buy or reduce call to Colgate share. Jefferies has recommended buy call and upgraded the target price to Rs 3,570 from Rs 3020. According to Jefferies, Colgate displayed stunning revenue growth with HSD volume expansion in Q1. A combination of macro factors, including increased activity in rural areas and strong execution, contributed to this success.

Meanwhile, Bofa Securities too increased target price on Colgate share to Rs 3,175 per share. On the other hand, Nuvama also upped the target price on Colgate-Palmolive India to Rs 3745 per share. Emkay Global also sought to increase the target price on Colgate-Palmolive India Ltd share to Rs 2,850 from Rs 2,525 per share. Prabhudas Lilladher has assigned reduce call with upgraded target price of Rs 2743 per share from Rs 2414.

Colgate-Palmolive India Financials: The company's net sales for the quarter surged 13% to Rs 1485.8 crore as against Rs 1314.7 crore declared in the corresponding quarter of last year. Colgate-Palmolive registered continued demand pickup in rural markets outpacing growth in urban market for second consecutive quarter. "Our toothpaste portfolio witnessed double-digit percentage growth driven by high-single digit percentage volume growth," said Prabha Narasimhan, managing director and CEO of Colgate-Palmolive (India).

Colgate-Palmolive Shares Performance: The 52-week high price of Colgate-Palmolive shares on BSE is Rs 3425.90 per share (as on 30/07/2024) and 52-week low price is Rs 1909.00 per share (as on 22/08/2023), respectively. Colgate-Palmolive shares offered return of 36% year-to-date, zoomed 64% in last 1-year, rallied 97% in last 3-years, and soared 187% in last 5-years.

Colgate-Palmolive India Dividend History: Colgate-Palmolive (India) announced 63 dividends since July 25, 2001. In last 12 months, Colgate-Palmolive (India) announced an equity dividend amounting to Rs 43.00 per share. If current share price of Rs 3363.70 is taken into consideration, Colgate-Palmolive (India) offers a dividend yield of 1.72%.

Colgate-Palmolive Bonus Share History: Colgate-Palmolive (India) offered 1 bonus issue since September 23, 2015. The last Bonus that Colgate-Palmolive (India) declared was in the proportion of 1:1 with ex-bonus date fixed as September 23, 2015.

About: Colgate-Palmolive manufactures and distributes consumer products. The company operates via personal, oral, home care and pet nutrition segments. The small soap and candle business that William Colgate began in New York City early in the 19th century is now, more than 200 years later, a global company serving hundreds of millions of consumers worldwide.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher, Nuvama, Bofa Securities, Emkay Global, & Jefferies. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.