Welcome to Colgate

Transcription

Welcome to Colgate

Welcome to
Colgate-Palmolive India
COLGATE-PALMOLIVE (INDIA) LIMITED
ANALYST MEET – MAY 2011
FMCG Sector is buoyant
Rs. In Billion
20%
15%
22%
22%
6%
2%
8%
8%
Source: AC Nielsen
2010 Key Category Growth
35
Colgate, 31.0
Market, 28.2
30
25
% 20
15
Colgate, 13.2
Market, 11.1
10
5
Toothpaste
Toothbrush
% Growth in Volume
Source : AC Nielsen
3 Yr. Category Growth (CAGR)
30
Colgate, 26.6
25
Market, 22.8
20
%
Colgate, 14.7
15
Market, 10.3
10
5
-
Toothpaste
Toothbrush
% Growth in Volume
Source : AC Nielsen
Colgate-Palmolive (India) Ltd
CATEGORIES / PRODUCTS
Oral Care
 Toothpastes
 Toothbrushes
 Toothpowder
 Mouthwash
Personal Care
Household Care
 Shower Gels
 Liquid Hand Wash
 Shave Preps
 Skin Care
 Hair Care
 Surface Care
From the Dentist
 Gingivitis Treatment
 Sensitivity Treatment
Tooth Whitening
 Fluoride Therapy
 Mouth Ulcer Treatment
Speciality Cleaning
Recent Launches
Colgate Sensitive Pro-Relief
Toothpaste Portfolio
Gel & Kids Portfolio
Mouthwash Portfolio
Toothbrush Portfolio
Toothpowder Portfolio
Personal Care / Home Care Portfolio
MARKET SHARES
Strategic Position
Category
Volume SOM %Market Position Relative Share
Toothpaste
53.1
1
2.3
Toothpowder
46.4
1
1.5
Toothbrush
40.3
1
2.2
Source: AC Nielsen
Period : Apr to Mar 11
Volume Market Share
Toothpaste
Apr- Mar Apr- Mar
2010
2011
2008
2009
2010
Colgate
49.4
52.4
53.5
52.9
53.1
Competitor 1
24.5
22.8
22.5
22.6
22.8
All Other
26.1
24.8
24.0
24.5
24.1
- Source: AC Nielsen
Volume Market Share
Toothbrush
Apr- Mar Apr- Mar
2010
2011
2008
2009
2010
Colgate
38.4
40.0
40.8
40.9
40.3
Competitor 1
16.0
16.0
17.4
15.5
18.4
Competitor 2
13.3
12.4
10.9
12.1
10.9
All Other
32.3
31.6
30.9
31.5
30.4
Volume Market Share
Toothpowder
Apr-Mar Apr-Mar
2010
2011
2008
2009
2010
Colgate
48.4
48.9
47.1
48.7
46.4
Competitor 1
29.1
29.3
29.9
29.5
30.1
All Other
22.5
21.8
23.0
21.8
23.5
Category Contribution
(% to Company Sales)
105%
100%
1.3%
2.6%
1.4%
2.1%
96.1%
96.4%
2009-10
2010-11
95%
90%
85%
80%
75%
70%
ORAL CARE
PERSONAL CARE
HOME / OTHERS
Very Strong Brand
Colgate was voted
“The Most Trusted
FMCG Brand” in India
for the year in the
Brand Equity Annual
survey 2010 across all
brands and categories.
“Colgate” is the only
Brand to be in the Top
3 consistently for the
last 10 years
Colgate was presented the “Hall of Fame”
for being in the Top 3 consistently for 10 years
“Hall of FAME” for bei
Top 3 f
Guinness World Records
Very Strong Brand
Unbeaten Distribution Network
Our Flag ship Brand – Colgate Dental Cream
is the largest distributed product in the Toothpaste market
Available in 4.1 MM stores
Distribution Network
Weighted Distribution of Colgate Toothpaste
2008
2009
2010
Urban
97%
97%
97%
Rural
93%
95%
94%
U+R
95%
96%
96%
Coverage- 4.56 MM stores
Very Strong Brand
Unbeaten Distribution Network
Huge Opportunity to Grow
Opportunity to increase per capita consumption
Per Capita Consumption
(Grams/Year)
USA
542
China
255
Malaysia
304
Philippines
244
India
127
A significant opportunity to drive penetration
Source: Indian Readership Survey
Dentifrice = Toothpaste or toothpowder
Urban-Rural Contribution
100%
80%
35%
36%
38%
39%
40%
65%
64%
62%
61%
60%
2006
2007
2008
2009
2010
60%
40%
20%
0%
Urban
Rural
Source: A C Neilsen (Toothpaste Volume Market)
Poised to drive growth
through its unique
BUSINESS MODEL
Business Model
Engage to Build our Brands
Efficiency & Effectiveness in Everything
Innovation for Growth
Leading to Win
Business Model
Leading to Win
Strengthening Our Brands
Partnering with Profession
Partnering with the Profession for
Oral Health Month
Towns Covered
26000
1005
1000
24000
23000
20000
800
17000
600
14000
11000
400
200
Dentist Particpation
175
5000
0
2000
2005
2007
8300
8000
50
2010
3500
2005
2007
Reached to 3.4 mn consumers in 2010
2010
• Ask the Dentist
•
Indian Dental Association (IDA) Seal of Acceptance granted to
– Colgate Dental Cream
– Colgate Total & Colgate Total Professional
– Colgate 360 Toothbrush
– Colgate Sensitive Toothpaste & Toothbrush
– Colgate Plax Mouthwash (Freshmint & Peppermint)
Engaging the Shopper
Business Model
Leading to Win
Efficiency & Effectiveness in Everything….
Strong cost saving & Sustained margin improvement
programs
Gross Margins
61%
1,400
EBITDA
500
20%
450
400
1,200
350
1,000
300
250
800
600
200
150
41%
400
100
9%
50
-
200
Business Model
Leading to Win
Products that work better
Colgate Sensitive Pro-Relief
Provides instant and long-lasting relief
Enamel
Dentin
Pulp
Gum
Bone
Exposed
Dentin
tubules
Recessed
Gum
‘Colgate Total gives you protection from 12 teeth &
gum problems’
360 Acti Flex- a coach & guide to oral
healthcare
New Categories
New Categories – Mouthwash
Mouthwash Category Market
1100
1000
956
59%
Rs. MM
900
800
700
600
500
601
487
400
300
200
2008
24%
2009
2010
Plax Market Share
22%
% MS
19%
18%
14%
9%
7%
4%
6%
2008
2009
2010
Mar-11
New Categories
Innovation through Global Technology
Centre
Innovation through IGTC
Business Model
Leading to Win
Leading to Win
• Ethical leadership a mindset
Leading to Win
• CP Core Values
– Caring
– Global Teamwork
– Continuous Improvement
Leading to Win
Contributing to the Communities
Where we Live & Work : Bright Smiles Bright Future
BSBF Reach (MM)
14
12.2
12
10
6.9
8
6
3.6
4
2
2000
2006
2010
BSBF INDIA reaching 12 mn children annually (urban & rural)
Leading to Win
NGO - Pratham
Anganwadi Program
Dominic Savio Summer Camp
Association with NTP+
Business Model
Leading to Win
FINANCIALS
Financial Strategy
Increasing Volume
Growing Margin
Reducing Overheads
Increasing Advertising
Increasing Operating Profit
Cash Generation
Grow Topline
Quarterly Sales Growth
(% = current year vs previous year)
600
12.6%
580
13.8%
13.2%
(Rs. Crores)
560
13.0%
540
13.4%
520
18.1%
17.0%
Jul-Sep
2009
Oct-Dec
2009
500
14.8%
480
460
440
420
400
Apr-Jun
2009
Jan-Mar
2010
Apr-Jun
2010
Jul-Sep
2010
Oct-Dec
2010
Jan-Mar
2011
Net Sales
2,300
CAGR 5 Yrs = 14%
2,221
2,200
+13.2%
(Rs. Crores)
2,100
1,962
2,000
1,900
+15.8%
1,800
1,695
1,700
1,600
+15.0%
1,473
1,500
1,400
1,295
+13.8%
1,300
1,200
+15.2%
1,100
1,000
2006-07
2007-08
2008-09
2009-10
2010-11
Gross Margins
1,400
1,349
CAGR 5 Yrs = 17%
1,186
(Rs. Crores)
1,200
954
1,000
800
600
61%
841
60%
719
55%
57%
56%
400
200
0
2006-07
2007-08
2008-09
2009-10
Gross Margin
% Sales
2010-11
Advertising
380
18%
17.4%
349
17%
340
(Rs. Crores)
16.0%
300
15.9%
15.7%
16%
272
257
260
220
299
15%
15.3%
14%
207
13%
180
12%
140
11%
100
10%
2006-07
2007-08
2008-09
Advt.
2009-10
% Sales
2010-11
EBITDA
500
CAGR 5 Yrs = 31%
425
451
425
(Rs. Crores)
21.7%
350
21%
20.3%
15.4%
15.5%
+62.6%
16%
13%
229
11.6%
11%
+14.5%
200
151
125
18%
+6.0%
262
275
23%
8%
+51.5%
6%
-13.2%
3%
50
1%
2006-07
2007-08
2008-09
EBITDA
2009-10
% Sales
2010-11
Profit Before Tax
510
CAGR 5 Yrs = 27%
24.7%
(Rs.Crores)
19.8%
15.6%
310
260
292
23.4%
25%
20.4%
345
360
30%
485
460
410
520
+40.4%
+7.3%
20%
15%
+18.2%
+44.9%
210
202
160
+7.3%
10%
5%
110
60
0%
2006-07
2007-08
2008-09
2009-10
PBT
% Sales
2010-11
Tax
130
30.0%
117
120
25.0%
(Rs. Crores)
110
100
20.6%
20.7%
90
22.6%
16.0%
12.7%
80
70
60
60
50
20.0%
15.0%
62
10.0%
55
41
5.0%
40
30
0.0%
2006-07
2007-08
2008-09
Tax
2009-10
Tax Rate
2010-11
Profit After Tax
450
(Rs. Crores)
400
21.6%
CAGR 5 Yrs = 26%
17.1%
350
15.7%
200
150
21.0%
18.1%
19.0%
-4.9%
17.0%
+45.8%
290
300
250
423
403
15.0%
12.4%
160
232
+25.2%
13.0%
+44.7%
11.0%
9.0%
+16.4%
100
7.0%
50
5.0%
2006-07
2007-08
2008-09
PAT
2009-10
% Sales
2010-11
EPS & DPS
32.0
31.1
29.6
(Rs.)
27.0
22.0
21.3
22.0
17.0
17.0
20.0
15.0
13.0
12.0
11.8
9.5
7.0
2.0
2006-07
2007-08
2008-09
EPS
2009-10
DPS
2010-11
Cash Generated from Operations
450
CAGR 5 Yrs = 26%
397
385
(Rs. Crores)
400
350
319
282
300
250
200
154
150
100
50
2006-07
2007-08
2008-09
2009-10
2010-11
Share Price Performance
22,000
CP-904
900
20,000
800
Sensex-19602
18,000
700
16,000
600
13872
14,000
12,000
500
400
344
10,000
300
Apr-07
Apr-08
Apr-09
Sensex
Apr-10
Colgate
Apr-11
5 Year Market Appreciation
30.0%
25.2%
25.0%
19.9%
20.0%
15.0%
11.4%
10.0%
5.0%
0.0%
Sensex
BSE FMCG
Colgate
Shareholder Returns
Year
Shares
1978
1994
2010
2011*
IPO - 250
Rights - 1,280
Holdings -14,080
Holdings - 14,080
Value
(LC)
6,250
25,600
9,504,000
11,968,000 +26%
* as on March 31, 2011
Dividend Received
(includes Capital reduction)
2,189,262
Compounded return of 27% since the IPO
Lets Talk……

Welcome to Colgate

Transcription

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