COLPAL
Colgate Palmolive (India) share price & financials
- Price
- ₹1,997.8
- Market cap
- ₹51.6k Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 3
Colgate Palmolive (India) Limited Q1 FY27
What went well
- Q1 FY27 sales grew 12% to ₹1591 crores, with H1 performance 10.5% ahead of oral care peers.
- Profitability (excluding one-offs) increased by 10.6% to ₹343 crore, achieving a high PAT of 22.3%.
- Gross margin reached 69.7% in Q1 FY27, reflecting continuous efficiency improvements and cost management.
What to watch
- The Palmolive personal care segment has historically been an area of 'disappointment', though a new partnership aims to improve performance.
- Inflationary headwinds and commodity volatility remain a watch item, requiring careful management of pricing and costs.
What Colgate Palmolive (India) Limited does
Colgate-Palmolive (India) Limited is the Indian affiliate of the US-based Colgate-Palmolive Company, manufacturing and marketing oral care, personal care and home care products under the Colgate and Palmolive brands. It earns primarily by selling toothpaste, toothbrushes and mouthwash under Colgate, complemented by a Palmolive personal-care range, through a nationwide retail and stockist network. Products are made at four company-owned manufacturing plants plus third-party manufacturing sites across India, and distributed via a large on-ground sales team reaching millions of retail outlets directly. The company has operated in India for over 87 years and is headquartered in Mumbai.
Segments
- Oral Care
- Personal Care
- Home Care
- Manufacturing plants
- 4 owned plants — Goa, Baddi (Himachal Pradesh), Sri City (Andhra Pradesh) and Sanand (Gujarat) — plus third-party manufacturing sites across India
- Retail outlets reached directly
- Over 1.7 million outlets
- On-ground sales/distribution team
- 5,000+ individuals driving retail presence
- Corporate headquarters
- Mumbai
- Combined manufacturing plant area
- 3,64,600 sq. m across the four owned plants
- Core brand portfolio
- Colgate (oral care) and Palmolive (personal care)
Guidance record · Q1 FY27
what the last two calls moved 13 tracked 3 delivered 3 missed 7 open- Premiumization growth rate vs rest of portfolio delivered said Q4 FY25 Promised: 4x Q1 FY27: Management confirms the premium business is growing 5X-6X faster than competitors and the market, continuing to exceed the original 4x target.
- EBITDA Margin Band missed said Q4 FY25 Promised: 32% to 34% range Q1 FY27: The promise period for FY26 has concluded. The final reported EBITDA margin for FY26 was 31.2%, which is below the targeted 32-34% range.
- EBITDA Margin revised down said Q4 FY26 Promised: around 30-32% over the next two quarters Q1 FY27: Management walked back the guidance, stating 'in the short term, we're not going to, you know, be held by the EBITDA levels, no target at a specific level' due to a strategic decision to increase advertising spend.
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 11.8%, net profit up 6.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,619 | 1,462 | 1,463 | 1,434 | 1,520 −6% | 1,486 +2% | 1,595 +9% | 1,603 +12% |
| EBITDA | 497 | 454 | 498 | 453 | 465 −6% | 442 −3% | 510 +2% | 483 +7% |
| Net profit | 395 | 323 | 355 | 321 | 328 −17% | 324 +0% | 353 −1% | 343 +7% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −25.3% 1Y
1Y: ₹2,407.4 on 10 Sept 2025 → ₹1,797.4. High ₹2,407.4 (10 Sept 2025), low ₹1,788.7 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.9%
- 17 Aug
- Q4 FY26
- −1.3%
- 28 May
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 4.9% a year over 3 years, FY23 to FY26. Operating margin widened to 31.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹5.2k Cr | ₹5.7k Cr | ₹6.0k Cr | ₹6.0k Cr |
| Operating profit | ₹1.5k Cr | ₹1.9k Cr | ₹2.0k Cr | ₹1.9k Cr |
| Operating margin | 29.6% | 33.4% | 32.4% | 31.0% |
| Interest | ₹4 Cr | ₹5 Cr | ₹4 Cr | ₹4 Cr |
| Depreciation | ₹175 Cr | ₹171 Cr | ₹163 Cr | ₹146 Cr |
| Net profit | ₹1.0k Cr | ₹1.3k Cr | ₹1.4k Cr | ₹1.3k Cr |
| Net margin | 20.0% | 23.3% | 23.8% | 22.0% |
| Cash from operations | ₹1.2k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.8k Cr |
| Free cash flow | ₹1.1k Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.7k Cr |
| ROCE | 79.0% | 97.0% | 105.0% | 108.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹27 Cr | ₹27 Cr | ₹27 Cr | ₹27 Cr | ₹27 Cr | ₹27 Cr |
| Reserves | ₹1.1k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹1.8k Cr | ₹1.6k Cr | ₹1.6k Cr |
| Borrowings | ₹91 Cr | ₹83 Cr | ₹69 Cr | ₹72 Cr | ₹60 Cr | ₹47 Cr |
| Other liabilities | ₹1.6k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.5k Cr | ₹1.8k Cr |
| Total liabilities | ₹2.9k Cr | ₹2.9k Cr | ₹2.9k Cr | ₹3.2k Cr | ₹3.2k Cr | ₹3.4k Cr |
| Fixed assets | ₹1.1k Cr | ₹963 Cr | ₹862 Cr | ₹794 Cr | ₹742 Cr | ₹718 Cr |
| Capital work in progress | ₹145 Cr | ₹122 Cr | ₹114 Cr | ₹110 Cr | ₹29 Cr | ₹27 Cr |
| Investments | ₹19 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹1.7k Cr | ₹1.8k Cr | ₹1.9k Cr | ₹2.3k Cr | ₹2.4k Cr | ₹2.7k Cr |
| Total assets | ₹2.9k Cr | ₹2.9k Cr | ₹2.9k Cr | ₹3.2k Cr | ₹3.2k Cr | ₹3.4k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −6.79 pp while DIIs added +6.20 pp. The shareholder count grew 7% to 3,26,817.
- Promoters
- 51.0%
- FIIs
- 13.6%
- DIIs
- 15.5%
- Government
- 0.3%
- Public
- 19.6%
Since Jun 2025
- FIIs −6.79 pp
- DIIs +6.20 pp
- Public +0.57 pp
How it drifted, 12 quarters
Over this window FIIs fell from 24.1% to 13.6% — −10.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 51.0%, FIIs 24.1%, DIIs 5.6%, Government 0.3%, Public 19.0%.Dec '23: Promoters 51.0%, FIIs 24.6%, DIIs 5.6%, Government 0.3%, Public 18.5%.Mar '24: Promoters 51.0%, FIIs 24.5%, DIIs 5.8%, Government 0.3%, Public 18.4%.Jun '24: Promoters 51.0%, FIIs 24.4%, DIIs 5.7%, Government 0.3%, Public 18.5%.Sep '24: Promoters 51.0%, FIIs 24.9%, DIIs 5.5%, Government 0.3%, Public 18.2%.Dec '24: Promoters 51.0%, FIIs 23.7%, DIIs 6.6%, Government 0.3%, Public 18.4%.Mar '25: Promoters 51.0%, FIIs 22.2%, DIIs 7.8%, Government 0.3%, Public 18.6%.Jun '25: Promoters 51.0%, FIIs 20.4%, DIIs 9.3%, Government 0.3%, Public 19.0%.Sep '25: Promoters 51.0%, FIIs 17.2%, DIIs 11.9%, Government 0.3%, Public 19.6%.Dec '25: Promoters 51.0%, FIIs 15.2%, DIIs 13.5%, Government 0.3%, Public 20.0%.Mar '26: Promoters 51.0%, FIIs 13.6%, DIIs 15.3%, Government 0.3%, Public 19.9%.Jun '26: Promoters 51.0%, FIIs 13.6%, DIIs 15.5%, Government 0.3%, Public 19.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Life Insurance Corporation Of India Insurer +0.41 pp 5.39% held
- Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund Mutual fund +0.17 pp 1.67% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Colgate Palmolive (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Colgate-Palmolive Company | 40.06% | unchanged |
| Colgate-Palmolive (Asia) Pte Ltd | 10.94% | unchanged |
| Life Insurance Corporation Of India Insurer | 5.39% | +0.41 pp |
| SBI Large & Midcap Fund Mutual fund | 3.15% | −0.13 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund Mutual fund | 1.67% | +0.17 pp |
| Norwood International Incorporated | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in COLPAL
Filings to Aug 2026
1 new, 10 added, 8 trimmed, 0 sold out — net −5.58 L shares (−4.1%).
- Held by funds
- ₹2.5k Cr
- 28 schemes
- Biggest holder
- SBI Large and Midcap Fund
- ₹790 Cr · 1.9% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Large and Midcap Fund SBI Mutual Fund | ₹790 Cr | held | May '25 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹390 Cr | +3.61 L | Aug '23 |
| SBI Midcap Fund SBI Mutual Fund | ₹342 Cr | held | Apr '25 |
| Nippon India Large Cap Fund Nippon India Mutual Fund | ₹302 Cr | +0.62 L | Jul '23 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹247 Cr | held | Oct '25 |
| SBI Consumption Opportunities Fund SBI Mutual Fund | ₹90 Cr | held | Aug '23 |
| SBI Multi Asset Allocation Fund SBI Mutual Fund | ₹57 Cr | held | Apr '25 |
| SBI MNC Fund SBI Mutual Fund | ₹46 Cr | −3.60 L | Oct '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
10 added, 8 trimmed — net −5.58 L shares (−4.1%)
- Funds are sitting on
- -11%
- vs est. average cost
- Held by funds
- ₹2.5k Cr
- 28 schemes · ≈ 5.1% of the company
- Biggest holder
- SBI Large and Midcap Fund
- ₹790 Cr · 1.9% of that fund
- Longest holder
- Nippon India ETF Nifty Dividend Opportunities 50
- 12y 5m · since Apr '14
Shares held by these funds +461%
Aug '23 1.37 cr shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹1797, this stock must grow earnings at 21% every year for 5 years. Our analysis caps realistic growth at ~3%. At that growth it is worth ₹806 — downside of 55%.
- Growth the price implies
- 21.0% a year
- for 5 years, fading to 4%
- It has actually compounded at
- 8.2% a year
- net profit, FY23–FY26 · EPS 8.2%
- The gap
- 0.2 pp
- -55% downside if it only repeats history
Why this baseline, and what it is built on
Colgate-Palmolive's financial performance shows a concerning trend, with the last three reported quarters (2025-Q1, Q2, Q3) exhibiting year-over-year declines in both sales and net profit, despite earlier strong growth. While management has a good promise track record ('new' and 'on_track' only) and provides positive guidance on margin maintenance, village reach, and premiumization growth, the recent negative financial results contradict these optimistic outlooks. A conservative initial growth rate of 3% is assigned, acknowledging the strong brand and potential for recovery, but heavily discounting aggressive growth targets until a clear turnaround is evident in the financials. The low leverage and stable industry support a lower discount rate, but recent performance dips reduce confidence.
- — Sales growth was strong (10-13%) until 2024-Q2, but declined YoY in 2025-Q1 (-1.81%), 2025-Q2 (-4.14%), and 2025-Q3 (-6.0%).
- — TTM Net Profit growth slowed significantly from 26.4% (ending 2024-Q1) to 8.5% (ending 2025-Q1), and recent quarters show YoY declines.
- — Promise track record: 2 'new', 3 'on_track', with no 'ghosted' or 'missed' promises.
- — Guidance includes maintaining EBITDA margins (32-34%), '2x the number of villages', and '4x premiumization growth'.
- — Balance sheet leverage (Borrowings/Reserves) is ~0.04.
- — Management notes 'urban (bottom 70%) demand will also pick up... particularly towards the back half of this year', implying current weakness.
Through 2025-12-31
All earnings calls (3)
Read the Q1 FY27 call →Learn to analyse Colgate Palmolive (India) Limited
Guides on how to read this kind of business and the numbers that matter.