MAM
Colgate Palmolive net profit for Q2 20 grew by 12.7%
New Delhi: Colgate-Palmolive (India) has reported net sales of Rs. 1,277.6 crore for the quarter ended September 30, 2020, an increase of 5.3 per cent over the same quarter of the previous year.
Domestic net sales for the quarter reported 7.1 per cent growth. Reported net profit after tax for the quarter was Rs. 274.2 crore as against the net profit of Rs. 244.1 crore for the same quarter of the previous year. Excluding the one-time impact of tax rate change in the previous year, the net profit growth is 32 per cent.
H1 2020-21: Net sales for the half year ended September 30, 2020 was recorded at Rs. 2,311.3 crore, an increase of one per cent over the same period of the previous year. Reported net profit for the same period was Rs. 472.4 crore, an increase of 14 per cent over the preceding period.
Dividend: The board declared a first interim dividend for the financial year 2020-21 of Rs. 18 per share of Re 1 each (face value). The dividend pay out to the shareholders will be Rs. 489.6 crore and will be paid on and from 17 November 17 2020 to those shareholders whose names are on the Register of Members of the Company as on 22 November 2020.
Colgate Palmolive MD Ram Raghavan says, “We are very pleased with our performance as we continue to see momentum strengthening across the portfolio with domestic revenue growing at 7.1 per cent this quarter. Our resilience and disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us drove improvements in key financial metrics with gross margins and EBITDA at 67.9 per cent and 32 per cent respectively.
We are pleased that we were able to increase shareholder value while we continue to drive innovation that meets the needs of our consumers. All categories saw positive growth this quarter with toothpaste continuing its accelerated performance, driven by strong brand fundamentals and household penetration. The quarter also saw some exciting innovation. We launched Colgate Visible White Instant, with its unique optical brighteners technology that starts whitening from the first brushing itself.
The new Colgate Gentle line of toothbrushes offers an effective yet gentle clean. Launched across price points, it offers solutions to different consumer preferences. We also relaunched our flagship toothbrush, Colgate Zig Zag, with unique anti-bacterial bristle technology.
Another first from our stable, was the launch of our Colgate Vedshakti mouth spray. A pocket sized solution that offers instant germ kill with a refreshing minty saunf flavour, that consumers love.
Our sharp focus aimed at fulfilling demand and ensuring uninterrupted access ensured agile and innovative approaches, specifically in our supply chain and distribution efforts. As an organisation we continue to live our values and remain unwavering in our focus to improve the health and well-being of our consumers. We are thankful to our customers, business partners and employees for their continued support.”
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.
