Colgate-Palmolive (India) (500830) Q4 02/03 earnings summary

Executive summary

• FY02/03 net profit rose 27% to Rs 88.66 crore, while sales fell to Rs 1,056.89 crore amid weak demand and continued trade-inventory reduction.

• Consolidated profit after tax was Rs 85.42 crore; consolidated EPS was Rs 6.28.

Financial highlights

• Standalone total revenue was Rs 1,092.65 crore vs Rs 1,191.84 crore; PBT rose to Rs 146.48 crore from Rs 114.69 crore.

• Standalone PAT was Rs 88.66 crore vs Rs 69.79 crore; EPS increased to Rs 6.52 from Rs 5.13.

• Consolidated revenue was Rs 1,091.62 crore vs Rs 1,188.72 crore; consolidated PBT was Rs 142.68 crore vs Rs 111.35 crore.

• Consolidated operating cash flow was Rs 165.74 crore vs Rs 123.36 crore; cash and cash equivalents closed at Rs 100.48 crore.

Outlook and guidance

• Planned direct coverage expansion by at least 10,000 villages, supported by rural wholesale promotions and seeding initiatives.

• Targeted automation of stockists contributing 65% of sales by year-end, building on online coverage of stockists in the top 50 cities.

• Management expected market-development and expansion efforts to support healthy oral-care market growth over the next few years.