Colgate: Q4 shows non-Covid pain still high, market share recovery may drag

Down-trading, competitive intensity key concerns

The Covid-19-led lockdown has spared none, not even the personal care segment in the fast -moving consumer goods (FMCG) space. However, Colgate's March 2020 quarter (Q4) numbers, reported on Thursday, were not only below expectations, but analysts say pain for the toothpaste leader is not limited to Covid-19, and could remain.

Analysts believe that Colgate’s market share recovery could be delayed, despite the current situation offering a good opportunity to gain share, mainly from smaller/local players. Colgate’s market share loss has been a key worry for investors since the past few years. While the firm does not provide market share data,