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Centrum Broking Report
Our interaction with Colgate Palmolive (India) Ltd.'s management reinforced that H2 FY22 performance could be better.
Though naturals segment is growing faster, the company now commands ~30% value share.
Rural is now growing at similar levels as urban, as MT/e-com now constitute 15% revenue share.
Consumers are choosing lower-end price points, as the gap between economy and naturals is not significant.
Consumers buy toothpaste once the tube is over, but similar trend does not apply for toothbrush; hence, saw moderated growth in the last few quarters.
The company has spruced up its offerings in the mid-price range and is seeing some upgrade.
The management alluded that it is committed to building its non oral care portfolio.
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