Rs 36/Share Dividend, Record Date In 5-Days: FMCG Giant Falls 4.45%, Buy/Sell? Eligibility

Large cap FMCG major Colgate-Palmolive India Ltd. share slipped by 4.45% in last 2-weeks and 4.60% in last 1-week. The company declared its quarterly results on May 14, 2024. Colgate-Palmolive India declared a jump of 20.11% in its consolidated net profit for the March 2024 quarter to Rs 379.82 crore as against the year-ago period. Colgate Palmolive also recommended an attractive second interim dividend of Rs 26/- per equity share of Re 1/- each along with a one-time special interim dividend of Rs 10/- each per equity share of Re 1/- each amid strong performance of the company. The current market price of Colgate Palmolive share on BSE is Rs 2667.70 per share with intraday fall of 0.71%. The company's market capitalisation is Rs 72,557.61 crore. LIC has stake of 1.79% in Colgate-Palmolive as it holds 4,864,577 shares of the FMCG firm. More details below:

Colgate-Palmolive Recommends Attractive Dividend: As per the regulatory filing of the company dated May 14, "Board of Directors at their Meeting held today May 14, 2024, has declared Second Interim Dividend of Rs. 26/- (Rupees Twenty Six Only) per equity share of Re.1/- each for the Financial Year 2023-24 and One-time Special Interim Dividend of Rs. 10/- each (Rupees Ten Only) per equity share of Re.1/- each on account of an excellent performance of the Company during the Financial Year 2023-24, which will be paid on and from June 07, 2024 to those shareholders whose names appear in the Register of Members of the Company as on the Record date i.e. May 23, 2024."

Colgate-Palmolive Share Performance & Return: The 52-week high price of Colgate Palmolive share on BSE is Rs 2961.15 per share (as on 07/05/2024) and 52-week low price is Rs 1567.65 per share (as on 31/05/2023). The market capitalisation of Colgate Palmolive is Rs 72,631.04 crore. The PE is 54.87 and ROE is 70.62. Colgate Palmolive shares declined over 1% in last 1-month, soared 23% in last 6-months, zoomed 60% in last 1-year, and gave return of 70% in last 2-years. In last 5-years, Colgate Palmolive stock offered return of 134%.

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 2667.70 is taken into consideration, Colgate-Palmolive (India) offers a dividend yield of 1.61%.

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.

Colgate-Palmolive Shareholding: Promoters holdings stayed unchanged at 51.00% in March 2024 quarter. FII/FPI have decreased holdings from 24.62% to 24.51% in March 2024 quarter. Number of FII/FPI investors increased from 862 to 872 in March 2024 quarter. Mutual Funds have increased holdings from 2.82% to 3.10% in March 2024 quarter. Institutional Investors have increased holdings from 30.50% to 30.61% in March 2024 quarter. Life Insurance Corporation Of India (LIC) has 1.79% stake in Colgate-Palmolive (India) as the PSU giant holds 4,864,577 shares of the FMCG company, as per Trendlyne data.

Colgate-Palmolive Q4: Colgate-Palmolive India Ltd declared a jump of 10.4% YoY in its revenue for March quarter to Rs 1,481 crore. The company's profit before interest, depreciation and tax surged 17.5% to Rs 554.8 crore for the January-March quarter. During the quarter, Colgate Palmolive also invested in advertising and witnessed its ad spends soaring by 18% to Rs 168.9 crore in the quarter.

Should You Buy Colgate Palmolive Share? Amnish Aggarwal, Director - Research, Prabhudas Lilladher Pvt. Ltd recommended "reduce" call for Colgate Palmolive share with target price of Rs 2,373 per share. The analyst said, "We value CLGT at 42x FY26 EPS (40x earlier) and assign a target of Rs2373 (Rs2174 earlier). CLGT trades at 47.3xFY26, which is at a premium of 3% to HUL, We recommend a switch from CLGT to HUL. Retain Reduce."
Meanwhile, Jefferies issued buy call on Colgate Palmolive share with target price of Rs 3,020, higher than the earlier target price of Rs 2,930. The analyst said, ""We are however perplexed that mgmt did not provide any split between volume and price/ mix - our est. on volume growth is c1 percent (approximately one percent) with rest from price/mix."

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 & 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.