Colgate-Palmolive, a multinational FMCG firm, released the results of its fourth quarter operations for the financial year 2023 (FY23) on Friday.
The firm reported that its net sales for the quarter ended at Rs. 1,341.7 crore, which is an increase of 3.7% from Rs. 1293.35 crore reported for the same time the previous year. The profit after tax for the quarter came in at Rs. 316.2 crore, representing a decrease of 2.28% year over year in contrast to the reported net profit of Rs. 323.6 crore for the same period the previous year. The rise in domestic sales that the business recorded for Q4FY23 was 5.4%.
“The Board of Directors has announced an Rs. 21/- Second Interim Dividend for the Financial Year 2022-23, which will be paid out on shares with a face value of Re 1 apiece. Those shareholders who had their names listed on the Register of Members of the Company as of May 20, 2023, would be eligible to receive the dividend payment of Rs. 571.17 crore, which will be paid on or after June 8, 2023. According to a filing with the stock market, Colgate-Palmolive (India) said that the Total Dividend will be Rs. 39/- per share for the year 2022-23.
“We are satisfied with the sequential progress that has been made as well as the results of the quarter. The company has generated domestic growth of 5.4%, with toothpaste producing high single-digit growth despite ongoing slow demand patterns in the category as a whole, particularly in rural areas, but the company has nonetheless managed to deliver domestic growth of 5.4% overall. Our aim to boost consumption, innovation centered on offering high-quality science-led goods, and premiumization have all been driving forces behind this development. According to Ms. Prabha Narasimhan, the company’s Managing Director and Chief Executive Officer, “We remain fairly optimistic that the overall category growth will improve in the coming quarters.”
“Continuing its emphasis on creating healthy oral care habits in India, the country’s largest toothpaste brand, “Colgate Strong Teeth,” is being relaunched in an upgraded formula with unique, best-in-class, arginine technology. This is part of the company’s commitment to “Colgate’s commitment to building healthy oral care habits in India.” The formulation of Colgate Strong Teeth contains arginine and fluoride, both of which contribute to a 2X acceleration of the process of returning the natural calcium that is found in saliva to the teeth. According to Prabha Narasimhan, this leads to nourished teeth that are 2 times stronger, and as a consequence, the phrase “Paste Hi Nahi, Poshan Hai Ye.”
Colgate Palmolive (India) shares ended the day on the National Stock Exchange (NSE) trading at 1,621 rupees each, a decrease of 0.32% from their previous closing price of 1,626.15 rupees.