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master
Senior Member
Joined: 06/May/2008
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Posts: 831
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   Posted: 13/Nov/2009 at 9:10am |
Revenues should grow at a compounded 15 per cent over 2009-11 driven by volumes, earnings could be slightly hurt by a higher effective tax rate
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master
Senior Member
Joined: 06/May/2008
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Posts: 831
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Posted: 01/Feb/2010 at 10:44pm |
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Professional Oral Care Products Pvt. Ltd., Goa, has now become a wholly owned subsidiary of Colgate.
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master
Senior Member
Joined: 06/May/2008
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Posts: 831
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Posted: 30/May/2010 at 9:45pm |
As usual, there is no surprise in results:
1. Net sales grew by 15.9% (volume growth 11%) & PAT by 46% for FY10 over last yr.
2. By volume, continued to increase its m-share both in toothpaste & toothbrush categories.
3. M-share declined by 90 bps in toothpowder category.
4. Going forward, tax rates will increase since tax free benefits of baddi plant are finished.
5. Can still expect sales in excess of Rs 2200 cr and EPS of Rs 35 in FY11E.
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commnman
Senior Member
Joined: 28/Jul/2010
Location: India
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Posts: 426
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Posted: 31/Jan/2011 at 2:18pm |
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Dentist would not recommend this stock !
Q3 numbers out...
Total Income up 13% to 576.64 Cr from 510.95 Cr.
EBIDTA DOWN 23% to 93.05 Cr from 121.17 Cr.
Net Profit DOWN whopping 43% to 66.24 Cr from 116.39 Cr.
EBIDTA margin is 16.14% V/s 23.71% (DQ-09) and 22.78% (SQ-10)
NET Pr margin is 11.5% V/s 22.8% (DQ-09) and 17.62% (SQ-10)
Total raw material costs as a %ge to Income is 37.46% V/s 41.1% (DQ-09) and 38.67% (SQ-10)
Raw materials did not hurt too much due to increase in stocks. Buttttttttttt
Advertisements did it in! up whopping 618 bps to 20.91% V/s 14.73%
Other expenses too gone up significantly to 16.41% V/s 12.51% wrt to Rvenues.
To make matters worse, Tax incidence gone up sharply to 25 Cr V/s 6.12 Cr.
There is still some smile left with Y-t-D 9-month 2010 to 9-month 2009:
Total Income up 13.1% to 1695.64 Cr from 1499.64 Cr (FY10 Full year 2035.2 Cr)
EBIDTA up 8% to 382.62 Cr from 354.36 Cr (FY10 Full year 498.47 Cr)
Net DOWN 6.6% to 288.52 Cr from 308.87 Cr (FY10 Full year 423.26 Cr)
Reported Nine month EPS is 21.21 V/s 22.71 (FY10 Full year 31.12)
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main toh aam aadmi hun... jo sunta hoon wohi sach maanta hoon
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Kautilya
Senior Member
Joined: 08/Feb/2010
Location: India
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Posts: 459
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Posted: 15/Aug/2011 at 1:19pm |
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Does anyone know if they are doing anything to bring down the taxes? In the last couple of quarters taxes have gone up considerably owing to the end of tax holiday on its Baddi plant. I would presume they cut down production in this plant and ramp it up at some other place to offset the taxes. If they are doing this then good old Colgate is a buy for me. Top line has been growing consistently come rain or shine.
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My indecision is final.
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Kautilya
Senior Member
Joined: 08/Feb/2010
Location: India
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Posts: 459
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Posted: 30/Sep/2011 at 12:01pm |
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Master or anybody following this company, has any views on my query above? Thanks
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My indecision is final.
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master
Senior Member
Joined: 06/May/2008
Online Status: Offline
Posts: 831
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Posted: 30/Sep/2011 at 1:48pm |
@kautilya, payment of normal taxes cannot be considered a negative in stock selection. On the other hand, I'm apprehensive about companies that don't pay taxes under various garbs. In fact, colgate used to pay tax of 30%+ before 2007. Baddi still has some fiscal benefits remaining.
In my view, bigger threat for the company is competitive intensity in this space, with HUL already established and P&G getting serious about entry with their brands like Crest, OralB.
Though colgate guys are adept at this game, maintaining 50%+ market share and volume growth of 12-13% is going to be a tough ask.
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Kautilya
Senior Member
Joined: 08/Feb/2010
Location: India
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Posts: 459
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Posted: 30/Sep/2011 at 2:08pm |
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Thanks
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My indecision is final.
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