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I was justified in being cautious.

Brokers call: Colgate Palmolive (Neutral) | Updated on CMP: ₹1579 Colgate Palmolive’s weak sales growth trend has persisted in recent quarters – the two-year average sales growth is in the 5–6 per cent range. It has now been six years since the company reported over 7 per cent sales growth for any year. The cornerstones of our earlier optimism on improved topline growth were: new launches in oral care; a potentially higher play in naturals (38– 39 per cent of the category where Colgat...