- NPAT Growth @22.3%
- First Interim Dividend @ Rs. 22 per share
- Living purpose : Driving Night Brushing : The Sweet Truth
Colgate-Palmolive (India) Limited announced its financial results for the second quarter of the fiscal year 2023-2024.
Q2 2023-2024 Highlights
Net Sales: Colgate-Palmolive (India) Limited reported a 6.1% increase in net sales for the second quarter, reaching Rs. 1,462.4 crore as of September 30, 2023, compared to the same period in the previous year. Domestic growth reported at 6.6% for the quarter.
Profitability: The Company's net profit after tax for the quarter showed growth of 22.3% at Rs. 340.0 crore, as compared to the net profit of Rs. 278.0 crore for the corresponding quarter in the previous year. EBITDA margins continue to improve, up 120 bps vs. sequential quarter and up 340 bps vs. prior year quarter driven by pricing and efficiencies.
H1 2023-2024 Performance
Half-Year Net Sales: In the first half of the fiscal year 2023-24, the Company achieved a net sales growth of 8.3%, reaching Rs. 2,777.1 crore as of 30 September 2023, as compared to Rs. 2,564.9 crore for the same period in the previous year.
Profitability: Net profit after tax for the half-year exhibited growth of 25.8%, totaling Rs. 613.7 crore.
Ms. Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, "We continue to be happy with our momentum and continue to be focussed on strengthening our brand portfolio & delivering superior products to consumers. In this quarter we have doubled down on the Colgate Strong Teeth relaunch, expanding reach & availability. This has been further supported by the excellent performance of Colgate Max Fresh, which has been relaunched with the best, proprietary freshness technology. We have also restaged our largest toothbrush franchise, Colgate Zig Zag with a superior mix that focuses on its core equity of deep, interdental cleaning. Our domestic growth remains strong, registering a 6.6% increase over the previous year quarter, with our toothpaste segment witnessing higher single-digit growth.
As the market leader, fostering healthy oral care habits among Indians is both our privilege and responsibility. In line with this objective, and our pursuit to elevate India's dental health standards, we have released a film this festive season called 'The Sweet Truth'. The film brings alive the importance of night time brushing and we hope this educational message will help in driving the important action of brushing at night and thereby preventing cavities". In addition, we remain committed to Colgate Bright Smiles, Bright Futures®, a program that has positively impacted the lives of over 171 million children, with a core mission of instilling the right oral care practices from a young age."
DIVIDEND
The Board declared a First Interim Dividend of Rs.22/- per equity share of face value of Re. 1/- each for the Financial Year 2023-24. The total dividend payout to the shareholders will be Rs. 598.4 crore and will be paid on and from November 21, 2023 to those shareholders whose names appear in the Register of Members/Beneficial Owners of the Company as on November 6, 2023.
ABOUT COLGATE-PALMOLIVE (INDIA) LIMITED
Colgate-Palmolive is a caring, innovative growth company that is reimagining a healthier future for all people, and the planet. Colgate-Palmolive (India) Limited is the market leader in Oral Care in the country, committed to delivering sustainable, profitable growth for its shareholders, while fostering an inclusive workplace for its people. With a primary focus on Oral Care & Personal Care in the Indian market, the company is recognized for its leadership and innovative efforts in advancing sustainability and community well-being.Among its recent accomplishments, the company has made significant strides in reducing plastic waste and promoting recyclability, conserving water and energy at its manufacturing facilities, and enhancing children's oral health through the Colgate Bright Smiles, Bright Futures® program. Since its inception in the mid-1970s, this program has touched the lives of more than 171 million children.
For more information about Colgate's global business and how it is building a future to smile about, visit: www.colgatepalmolive.co.in