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Motilal Oswal Securities maintains buy on Colgate, target price Rs 1,815

The brokerage said revival in both premium and mass segments augurs well for Colgate.|
Updated: Nov 28, 2019, 08.45 AM IST
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Motilal Oswal Securities has maintained its buy rating on Colgate in the long term with a target price of Rs 1,815. Shares of Colgate closed at Rs 1,477, down 1.2% while the BSE Sensex was up 199.31 points to 41,020.61.

Company Financials

For the quarter ended 30-09-2019, the company has reported standalone sales of Rs 1213.21 crore, up 12.75% from last quarter sales of Rs 1075.99 crore and up 4.53% from last year same quarter sales of Rs 1160.63 crore. The company has reported net profit after tax of Rs 244.11 crore in the latest quarter.

The company’s top management includes Dr.(Ms.)Indu Shahani, Mr.Issam Bachaalani, Mr.M Chandrasekar, Mr.M S Jacob, Mr.Mukul Deoras, Mr.P K Ghosh, Mr.R A Shah, Mr.Vikram Mehta, Ms.Shyamala Gopinath, Ms.Sukanya Kripalu. Company has SRBC & Co LLP as its auditors. As on 30-09-2019, the company has a total of 271,985,634 shares outstanding.

Investment Rationale

The brokerage said revival in both premium and mass segments augurs well for Colgate. The premium segment of the market was hurt amidst sharp growth in the salience of the natural segment, but things have improved in the past few months.

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