Colgate Palmolive (India) is the country's leading oral care player — toothpaste, toothbrushes and mouthwash — with a growing Palmolive personal care line, reporting into an FMCG tape where premium and quick-commerce demand is strong but rural volumes are soft. The Q2 print will speak to whether the 'growth ahead of profitability' strategy holds, with advertising stepped up to 15.8% of sales and management accepting possible short-term EBITDA moderation, and to the first results under new MD & CEO Manish Anandani.
| Results date | October 22, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 1,590.56 Cr |
| Previous quarter PAT | Rs. 343.08 Cr |
| Market cap | Rs. 48,165.94 Cr |
| CMP | Rs. 1,770.9 |
The Board will meet on Oct 22, 2026 to approve Q2/H1 FY27 (ended Sep 30, 2026) unaudited results and consider an interim dividend. The trading window has been shut since Sep 28, 2026 and reopens 48 hours after the results are made public.
The Q2 FY27 print is the first under new MD & CEO Manish Anandani, in office since September 28, 2026, and will test whether the 'Drive GROWTH ahead of Profitability' stance survives a quarter of stacked cost pressure. Q1 FY27 revenue grew 11.96% YoY to Rs. 1,590.56 Cr on robust high-single-digit toothpaste volume growth, and the Q2 FY26 base is softer still — company volume fell 6% and toothpaste volume fell 8% in that comparator quarter. The margin picture is the harder read: the rupee slid from 94.43 on Sep 4, 2026 to beyond 96/USD by Sep 17, Q2 saw renewed inflation across key raw-material baskets, and advertising at 15.8% of sales (Rs. 251.86 Cr, +33.68% YoY in Q1) is running well above the historical 13.5-14% band, with the CFO having said the step-up 'would start eating into EBITDA'. Gross margin faces its test against the record 69.7% of Q1 FY27, while the GST inverted-duty-structure drag that cost 160 bps inside Q4 FY26's EBITDA margin remains inside the Q2 print — the Council's refund relief is only effective from Nov 1, 2026. Management guided only low single-digit pricing 'in the coming weeks' and declined specific FY27 numerical targets, so the call will likely focus on volume elasticity to the advertising step-up, premium momentum (18.6% of the toothpaste category, growing 6X faster than the market) and the interim dividend under the 100% payout policy.
Guidance scorecard going in: Management's guidance stack is deliberately non-numeric, so each item is a direction check rather than a number to hit.
First results under new MD & CEO Manish Anandani: Manish Anandani (ex-Kenvue India MD) took charge on September 28, 2026 for a five-year term.
Adjusted vs reported earnings: The gap between reported and company-framed PAT growth was material in Q1 FY27.
Operating metrics under focus: Volume reads matter more than usual because GST-led MRP cuts distort Nielsen value growth.
Strategic initiative updates: Several new partnerships and launches are early in their rollout.
CFO M.S. Jacob said gross margin 'will continue to be in the range' and EBITDA margin 'will be a factor of the level of advertising', adding that the company is not looking to drive a specific percentage EBITDA. Management has prioritised volume-driven top-line growth and moving the absolute level of profit, accepting possible short-term EBITDA moderation.
Premium products were 18.6% of the toothpaste category, up from 14.8% over three years, and the premium portfolio's contribution to total sales increased by 35% over the last two years. Management says premium is growing 6X faster than the overall toothpaste market, though the precise premium-share definition warrants follow-up on the upcoming call.
Management guided to low single-digit price increases 'in the coming weeks', largely anniversary-based and category-dependent. The pricing is intended to offset commodity and currency headwinds, with different categories seeing different pricing depending on cost increases.
E-commerce and quick commerce represent approximately 10% of the business and are positioned as a key driver of premiumisation, margin expansion and market share gains. On the digital shelf, premium margins are higher by ~400 bps with high double-digit net sales growth.
Revenue grew 11.96% YoY to Rs. 1,590.56 Cr, an acceleration from +9.0% YoY in Q4 FY26, supported by robust high-single-digit toothpaste volume growth. Reported PAT grew 7.0% to Rs. 343.08 Cr, which the company framed as 11% growth excluding one-offs and exceptional items.