Dabur Q1 Consol. Revenue crosses Rs 3,000-Crore Mark, Up 11%

New Delhi, August 3, 2023: India’s leading Science-based Ayurveda major Dabur India Ltd today announced a 11% growth in Consolidated Revenue for the First Quarter of 2023-24 to cross the Rs 3,000 Crore mark for the first time in the first quarter, driven by strong double-digit growth in both HPC and HC businesses. The Q1 Revenue growth stands at 13.3% on Constant Currency basis.

The Board of Directors of Dabur India Ltd (DIL) met here today to consider the unaudited financial results of the Company for the quarter ended June 30th, 2023.

The financial year 2023-24 began on a strong note, reflecting the successful execution of our business and go-to-market strategies to deliver a robust performance during the first quarter of the year. Dabur reported a 11% growth in Consolidated Revenue at Rs 3,130 Crore, up from Rs 2,822 Crore a year ago, with an underlying Volume growth of 3% in the India FMCG business.

Dabur’s Operating Profit saw a growth of 11.2%. Dabur ended the first quarter of 2023-24 with a 5.3% growth in Consolidated Net Profit at Rs 464 Crore, up from Rs 440.3 Crore a year earlier. Net Profit excluding Amortisation related to Badshah acquisition reported an 8% growth.

“We remain committed to our strategy of superior go-to-market execution by enhancing our distribution footprint while focusing on driving growth for our Power Brands and building an agile organization culture in our pursuit of sustainable, balanced growth and value creation. We have initiated several measures to pursue greater efficiency and the gains were ploughed back in the form of higher investments behind our brands to drive demand. Our media spends grew by 30% in the Consolidated business and by 28% in the India business,” Dabur India Limited Chief Executive Officer Mr. Mohit Malhotra said.

“We continue to see strong consumer engagement with our brands, helping them grow significantly ahead of the market and report market share gains across 90% of the portfolio. With the inflation softening, we have seen our rural growths bounce back to high single digits after three quarters. While rural growth continues to lag urban demand, the gap has reduced significantly. We continue to strengthen our long-term competitiveness through investments in developing consumer-centric innovations and technology, as we deliver on our purpose of health and well-being for every household,” Mr. Malhotra added.

Dabur has also made rapid strides on the ESG (Environment, Social & Governance) front. Our business is committed not just towards profitable growth, but also towards leaving a deeper imprint on the society as a whole. Paving the way towards a more sustainable future, Dabur has targeted to achieve Net Zero in its entire value chain by 2045, Mr. Malhotra said. In 2022-23, Dabur emerged as the first Indian FMCG company to become Plastic Waste Positive, having collected, processed and recycled 35,000 MT of post-consumer plastic waste from all over India. Today, Dabur collects, processes and recycles more plastic waste than it sells in its product packaging in a year.

International Business Growth

Dabur's International Business reported a 20.6% growth in constant currency terms. The Turkey business reported a 51.2% growth, while the Egypt business grew by 45.7%, Sub-Saharan Africa by 13% and MENA by 10.2%.

Category Growths

Riding on growing demand for our flagship cough & cold brand Honitus, Dabur’s OTC business reported a 24.3% growth during the quarter. The Digestive business was up 14.3% while the Home Care business posted a 14.5% jump. The Oral Care portfolio grew by 12.7% while the Hair Care portfolio posted a near 10% growth during the quarter. While the Foods business grew by 35%, the Beverages portfolio was impacted by the unseasonal rains.

Dabur also reported market share gains across 90% of its portfolio. In the Hair Oils category, Dabur gained 200 bps to end the quarter at its highest-ever share of 17.4%. Dabur Red Paste gained 50 bps market share, taking the overall Toothpaste market share to 16.9%. Odomos gained 340 bps, taking our share of the mosquito repellent category to 58.9%. Dabur also reported a 320-bps gain in Chyawanprash market share.

About Dabur India Ltd

Dabur India Limited is one of India’s leading FMCG Companies. Building on a legacy of quality and experience for 139 years, Dabur is today India’s most trusted name and one of the world’s largest Ayurvedic and Natural Health Care Company. Dabur India's FMCG portfolio today includes eight distinct Power Brands: Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur PudinHara and Dabur Lal Tail in the Healthcare space; Dabur Amla and Dabur Red Paste in the Personal Care category; and Réal in the Foods & Beverages space.