Colgate Palmolive (India) Ltd
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BSE Code:
500830
NSE Code:
COLPAL
Business Profile
Business Profile
CPIL was incorporated in 1937 as a wholly owned subsidiary of its US parent. Currently the parent company holds 40.06% stake in the company. The products of the group include soaps, shampoos, cosmetics and toilet preparations, toothpaste, tooth powder, toothbrushes, shaving brushes, fatty acids, glycerin and calcium phosphate.
It is the market leader in the Indian oral care market, with a 51% market share in the toothpaste segment, 48% market share in the tooth-powder market and a 30% share in the toothbrush market. It also has a presence in premium toilet soap and shaving products, which are sold under the Palmolive brand. The company faces competition from second positioned Hindustan Lever, local brands like Meswak, Babool, Anchor and other MNC`s such as Smithkline (Acquafresh). However, the company has retaliated by new launches and revitalization of its flagship brand CDC.
In past few years the company has increased it expenses for promotions and aggressive campaigning. Apart from launching battery-based toothbrushes, the company has undertaken oral and dental care awareness programs. Colgate has not been able to achieve any significant success in expanding its non-oral care portfolio. The company has a rural distribution network with over 30 lakh outlets.
CPIL has its plants in Mumbai and Aurangabad in Maharashtra, and a toothpaste manufacturing facility at Baddi in Himachal Pradesh. It manufactures di-calcium phosphate, a key ingredient in toothpaste, slashing cost of production by 20%. Subsidiaries of the company are Passion Trading & Investment Company, Jigs Investments and Multimint Leasing & Finance.
Financials
The company disclosed a substantial rise in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 38.57% to Rs 770.70 million from Rs 556.20 million in the same quarter previous year. Net sales for the quarter rose 20.67% to Rs 4,722.00 million, while total income for the quarter rose 15.33% to Rs 4,760.00 million, when compared with the prior year period. It reported earnings of Rs 5.67 a share during the quarter, registering 38.63% growth over previous year period.
Recent Developments
16-DEC-08
The company which is currently holding 75% of the share capital of SS Oral Hygiene Products, Hyderabad has acquired the remaining 25% share capital from the local shareholders at an aggregate price of Rs 7,770,000 on Dec. 16, 2008.
20-NOV-08
The company has announced that the company has divested its stake in Colgate Palmolive (Nepal) (P); its wholly owned subsidiary to Nepal based Everest Hygiene Products, as going concern.
03-APR-08
Colgate Palmolive India acquired 75% shareholding in CC Health Care Products, Hyderabad which is engaged in the manufacture of toothpowder. The CC Health Care Products has been manufacturing and supplying toothpowder to Colgate Palmolive India for the last several years.
10-JAN-08
The Bombay Stock Exchange, on Wednesday (January 9), announced that it has effected changes in the BSE 500 index. The exchange said effective from January 14, Venus Remedies will be replaced by Colgate Palmolive.
26-NOV-07
The Board of Directors of Colgate Palmolive India has declared a first interim dividend at Rs 6 per equity share of Re 1 (reduced face value) for the financial year ending March 31, 2008. The said interim dividend will be paid on the paid-up share capital of Rs 136 million involving a total pay-out of Rs 955 million (dividend distribution tax).
07-NOV-07
Colgate Palmolive India acquired 75% stake in Advanced Oral Care Products, Goa, Professional Oral Care Products, Goa and SS Oral Hygiene Products, Hyderabad, which are engaged in the manufacture of toothpaste. They have been manufacturing and supplying toothpaste to the company for last several years.