Colgate Palmolive Pakistan : TRANSMISSION OF QUARTERLY REPORT FOR THE QUARTER/PERIOD ENDED 31 MARCH 2022
April 28, 2022 at 01:45 pm IST
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COMPANY INFORMATION
BOARD OF DIRECTORS
EXTERNAL AUDITORS
Iqbal Ali Lakhani - Chairman
A. F. Ferguson & Co.
Amin Mohammed Lakhani
Chartered Accountants
Aliya Saeeda Khan
Kamran Yousuf Mirza
INTERNAL AUDITORS
Syed Shahid Ali Bukhari
BDO Ebrahim & Co.
Peter John Graylin
Chartered Accountants
Xuan Dai
Zulfiqar Ali Lakhani - Chief Executive
SHARES REGISTRAR
FAMCO Associates (Private) Limited
ADVISOR
8-F, Near Hotel Faran, Nursery, Block-6,
Sultan Ali Lakhani
P.E.C.H.S., Shahra-e-Faisal, Karachi.
AUDIT COMMITTEE
REGISTERED OFFICE
Aliya Saeeda Khan - Chairperson
Lakson Square, Building No. 2,
Iqbal Ali Lakhani
Sarwar Shaheed Road,
Amin Mohammed Lakhani
Karachi-74200 Pakistan
Kamran Yousuf Mirza
FACTORIES
HUMAN RESOURCE &
G-6, S.I.T.E., Kotri
REMUNERATION COMMITTEE
District Jamshoro (Sindh)
Kamran Yousuf Mirza - Chairman
Iqbal Ali Lakhani
H-36 (B), S.I.T.E., Kotri
Zulfiqar Ali Lakhani
District Jamshoro (Sindh)
Aliya Saeeda Khan
217, Sundar Industrial Estate,
COMPANY SECRETARY
Raiwind Road, Lahore
Mansoor Ahmed
CHIEF FINANCIAL OFFICER
WEBSITE
Mudassir Iqbal
www.colgate.com.pk
02
Third Quarter Report 2021-22
DIRECTORS' REVIEW
The directors of your Company are pleased to present the un-audited condensed financial statements of the Company for the nine months period ended March 31, 2022.
Financial Performance at a Glance
A brief financial analysis of the Company's performance is summarized below:
July 2021- March 2022July 2020- March 2021
Increase /
Operating Results
(Decrease)
Amount in PKR million
Turnover
59,614
50,043
19.13%
Net Turnover
44,984
37,477
20.03%
Gross Profit
11,895
11,316
5.12%
Gross Profit %
26.44%
30.19%
(375 bps)
Selling & Distribution Cost
5,016
4,723
6.20%
Administrative Expenses
524
478
9.62%
Profit from Operations
6,569
6,260
4.94%
Profit after Tax
4,633
4,332
6.95%
Earnings Per Share - Rupees
63.65
59.50
6.95%
Financial Performance Highlights
Net turnover grew by 20.03% on the back of strong growth momentum witnessed across all categories. Gross margin remained under pressure due to currency depreciation and rising commodity and freight cost.
The Company has increased its inventory levels by Rs 4,825 million at March 31, 2022 versus June 30, 2021 to protect against the risk of price volatility and availability of key raw materials.
Selling and distribution costs went up by 6.2% mainly due to freight charges. Administrative expenses grew by 9.62% primarily on account of employee related costs.
Business Performance Highlights
Colgate focused on growing consumption through regimen packs and direct to consumer activities supplemented by trade drives for visible distribution. Leveraging the Bright Smiles Bright Futures
03
school program, Colgate reached out to children to increase toothpaste penetration and create awareness about the importance of good oral hygiene habits from an early age.
Both Palmolive bar soap and shampoo continue to experience double digit growth. Together with liquid handwash and Protex anti-bacterial range, the portfolio met consumers' beauty as well as hygiene needs.
Competition remained tough in the home care category as all the key players increased spending on advertising and trade. The key growth challenge in semi urban and rural areas is coming from unorganized sector that continues to flourish unabated.
Future Outlook
The economic outlook remains challenging as increase in commodity prices and currency devaluation are expected to continue amid political and economic uncertainty. Rising inflation coupled with aforesaid challenges will continue to dilute the margin.
Acknowledgement
We would like to extend our sincere gratitude to our consumers for their trust in our brands. We are thankful to our customers, distributors, supply chain partners bankers and shareholders for their continued support. We also appreciate our employees for their relentless dedication and immense contribution to the Company.
On behalf of Board of Directors
Iqbal Ali Lakhani
Zulfiqar Ali Lakhani
Chairman
Chief Executive
Karachi : April 27, 2022
04
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Colgate-Palmolive (Pakistan) Ltd. published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 08:14:07 UTC.
Colgate-Palmolive (Pakistan) Limited is a Pakistan-based company, which is engaged in the manufacture and sale of detergents, personal care and other related products. The Company operates through three segments: Personal Care, Home Care and Others. Its brands include Colgate Total, Colgate Kids, Colgate Maximum Cavity Protection, and Colgate Naturals. Its product types include Toothpaste, Toothbrush, and Mouthwash. Its toothpaste includes Colgate Total Professional Whitening Toothpaste - Fluoride, Colgate Maximum Cavity Protection Great Regular Flavour, Colgate Optic White O2 Ki, Colgate Optic White O2 Pen, Colgate Total Pro Breath Health, Colgate Total Charcoal Deep Clean, Colgate Total Professional Clean, Colgate Sensitive - Fresh Mint, Colgate Charcoal Clean, Colgate Optic White Toothpaste, Colgate Sensitive Pro-Relief, Colgate Fresh Confidence Cool Menthol Fresh, Colgate Minions Toothpaste, and Colgate Advanced White with Micro-Cleaning Crystals.