MAM
Colgate-Palmolive Q2 ad spend up 23% to Rs 889 mn
MUMBAI: Colgate Palmolive, which had announced a six per cent workforce reduction globally, continues to increase its advertising expenditure in India amid intense competition in a slowdown year.
For the fiscal-second quarter, the oral care and healthcare company has increased its ad and promotional expenses by 23.02 per cent to Rs 889.2 million compared to Rs 722.8 million a year ago. The ad to revenue ratio has climbed to 11.49 per cent from 10.71 per cent in the earlier year.
The fiscal-second quarter is in line with the first three months ended June in which period Colgate-Palmolive had splurged an amount of Rs 837.2 mn, 32 per cent more than the earlier year.
Colgate-Palmolive‘s advertising and promotion spends for the half year ended 30 September grew 27.21 per cent to Rs 1.73 billion compared to Rs 1.36 billion year ago. The revenue to advertising ratio has increased from 10.45 per cent to 11.38 per cent during this period.
Revenue for the half year ended 30 September 30 was Rs 15.09 billion, a 19 per cent increase over the same period of the prior year (Rs 13.02 billion). Profit for the half year stood at Rs 2.62 billion which is 31 per cent more than the profit recorded for same period of the previous year (Rs two billion).
Colgate-Palmolive reported net sales of Rs 7.74 billion for the second quarter of the FY13 which is 18 per cent more over the same quarter of the previous year. Net profit for the quarter was Rs 1.45 billion, up 0.67 per cent from last year’s Rs 1.48 billion.
The company launched a new toothpaste variant – Colgate Total Advance Whitening and Colgate Max Fresh Ice toothpaste. These launches were coupled with the new launches in the toothbrush category in the first quarter of the year, namely Colgate 360 Battery Toothbrush. The company also launched Colgate Max Fresh toothbrush that has specially designed multi-height bristles that penetrate between teeth to clean away plaque and an advanced tongue freshener with 3 waves of multi-dimensional cleaning.
In an inflationary environment, the company’s continuing efforts and focussed programs to enhance efficiencies and reduce costs continue to yield strong, positive results helping to maintain margin and fund investments in building and strengthening brand equity and the business. Prudent price increases and cost management has enabled the company to maintain its Gross margin for the period despite significant inflationary pressure.
Colgate-Palmolive along with the Indian Dental Association (IDA) commenced its 9th edition of Oral Health Month which will be 2-month long intensive oral care awareness initiative that aims to improve the oral health condition and generate awareness about tooth cavities in the country. As part of this initiative, 13 mobile dental vans will travel across 39 cities to make basic oral care facilities accessible to the underprivileged, through the support of IDA dentists. This year through OHM, Colgate along with IDA plans to reach 3 million people over 1200 towns and cities.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
