Colgate eyes 100% recyclability of toothpaste portfolio by FY2025
Colgate is ramping up its sustainability goals by installing solar plants at its units. At present, the company has over 2.8 MW of on-site solar installation.
Colgate-Palmolive (India), in its latest ESG (Environmental, social, and governance) report, said has plans to achieve 100% recyclability of its toothpaste portfolio. As of fiscal year 2024, the oral and personal care brand transitioned 50% of its toothpaste portfolio (by volume) to recyclable tubes.
Further, Colgate is ramping up its sustainability goals by installing solar plants at its units. At present, the company has over 2.8 MW of on-site Solar installation. "By 2030, the aim is to transition to 100% renewable electricity across all owned industrial site operations," Colgate-Palmolive (India) said.
The toothpaste brand also stated that over 40 tonnes of dry waste was collected and segregated across 25 villages as part of the company’s CSR Rural Waste Management program in FY 2024. The company extended digital and financial literacy to over 30,000 women and persons with disabilities (PwDs) in FY 2024. Additionally, Colgate said it supported 40 water-stressed villages, in repurposing 46 million litres of water, benefitting over 14,000 beneficiaries.
The Oral and Personal Care brand reported a profit of Rs 1323.6 crore in FY 2024 as against Rs 1047.15 crore in FY 2023. The company's operating revenue stood at Rs 112.77 crore in FY 2024 from Rs 91.91 crore in the previous fiscal year. Colgate posted a domestic growth of 9.5% in FY2024 and an EBITDA margin of 33.7% in the same duration.
"At our core, is the mission to improve the oral health of everyone in India. This is both our fundamental responsibility and a tremendous privilege. Our long-term value creation strategy is intricately designed to balance financial performance with sustainability. The simple mantra of Grow, Strengthen, Simplify underpinned our actions in FY 2023-24. We delivered a significant step up in our growth trajectory, and we remain resolute in our commitment to enrich lives, foster sustainability, and propel positive change," Prabha Narasimhan, MD and CEO said.
