External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Colgate Palmolive (India) / Equity Bottom-Up

<ul><li>Q3FY24 results were ahead of our estimates. The company’s revenue grew by 8.2% YoY (Domestic sales grew by 8.8%), while overall volume declined -1% YoY, hence growth primarily led by price hikes.</li><li>Colgate Max Fresh was also re-launched, which saw strong growth in Q3FY24.</li><li>Its EBITDA margins improved by 557bps YoY to 33.8% on account of better than-expected gross margin expansion of 639bps YoY to 72% due to benign input cost. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Q3FY24 results were ahead of our estimates. The company’s revenue grew by 8.2% YoY (Domestic sales grew by 8.8%), while overall volume declined -1% YoY, hence growth primarily led by price hikes.Colgate Max Fresh was also re-launched, which saw strong growth in Q3FY24.Its EBITDA margins improved by 557bps YoY to 33.8% on account of better than-expected gross margin expansion of 639bps YoY to 72% due to benign input cost. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Colgate Palmolive (India) Ltd - Pricing Leading the Growth; Maintain HOLD