Nature nourishes. Nature frees. Nature heals.
At Dabur, we understand the incalculable value of nature and harness its power for humankind. This belief forms the core of our organization.
Be-leaf is not just a clever turn of phrase but a mission.
It is the solution to our planet's problems.
It is every employee’s commitment.
And this belief translates into our brand philosophy creating opportunities for society and organization in a million unimaginable ways.
Be-Leaf is a mission. It is a promise. It is a compass. It is a way of life.
And it translates into all our focus areas.
Dabur is Be-leaf.
Be-leaf is Dabur.
Beleaf in Putting the Environment First
Since our founding way back in 1884, Dabur has been working towards solving the myriad challenges faced by our society by offering a range of nature and ayurveda-based solutions that provide holistic health & well-being to everyone.
As a global enterprise, we have an unwavering commitment not only towards growing our business, but also ensuring that this growth does not come at the expense of environmental and social development.
Dabur at a Glance
Brand Dabur touches millions of lives every day. Built on a legacy of quality and experience of 140 years, Dabur evokes feelings of Trust, Health & Well-Being in the minds of our consumers, across generations and geographies.
An Indian multinational, Dabur India Limited is today the world’s largest Ayurvedic and Natural Health Care Company with products that meet the varied and ever-changing needs of consumers across 120-plus countries.
Our Vision
Dedicated to the Health & well-being of every Household
Our Mission
Ghar Ghar Ayurveda – Contemporise Ayurveda and make it relevant for the new generation.
Our Manufacturing Footprint
Our manufacturing presence extends across four continents, guaranteeing we can cater to our customers' needs no matter where they are. With facilities located in India, The Middle East, Africa, SAARC and Europe, we ensure proximity to key markets while leveraging regional expertise and resources.
These strategically positioned manufacturing sites and a comprehensive distribution network ensure that we realize our consumers' desires in an environmentally responsible way. Each manufacturing site is equipped with state-of-the-art technology and adheres to rigorous quality standards, ensuring consistent product excellence across the globe. By decentralizing production, we enhance agility, mitigate risks, and optimize supply chain efficiency.
Our Power Brands
Billion-Rupee Brands
8 brands that are above 100 Crore but less than 250 Crore in size
4 brands are over 250 Crore but less than 500 Crore
4 brands are placed in the 500 Crore - 1,000 crore basket
4 brands have a turnover of more than 1,000 crore
Financial Overview
Message from Management
Mr. Mohit Burman
Chairman
Chairman's Message
It is my privilege to write to all of you, our esteemed shareholders, and present the Integrated Annual Report of Dabur India Limited for the financial year 2023-24.
This year marks the 140th year of Dabur’s establishment, a milestone achieved by only a handful of enterprises and one which leads us to not only reflect on what we have achieved during this journey but also embrace the new opportunities that lie ahead.
From our origins as a small Ayurvedic medicines maker in Kolkata, it is truly incredible to see Dabur transform into a Multinational FMCG enterprise operating in over 120 markets across four continents. But what’s remained constant through this nearly one-a-half-century-long journey is our commitment to the ‘Health & Well-Being of every Household’. We have remained true to that purpose for the past 140 years, and are as encouraged today about the future of our business as we have ever been.
Q&A session with CEO
We firmly believe that innovation will continue to be a vital driver of growth for us.
In FY 2022-23, the global supply chain faced disruptions due to geopolitical issues, which resulted in significant increases in commodity prices. This, in turn, led to unprecedented levels of inflation worldwide. Although inflation started to wane towards the end of the year, pockets of stress remained. In response to this inflationary pressure, central banks around the world raised interest rates, causing a slowdown in demand and currency challenges in key markets. Syndicated data showed volume decline across the FMCG sector in India during the first nine months of the year. However, there was some growth observed in the later part of the fourth quarter, mainly driven by the food sector. Rural markets lagged urban markets due to high inflation and consumers shifting to lower-priced alternatives.
Integrated Reports
Materiality Assessment
Materiality Assessment helps us identify significant issues that substantively impact our capacity to generate value over the short, medium, or long term. A thorough grasp of material aspects fosters improved synchronisation between business strategy, performance management, and reporting.
At Dabur, we conduct a formal Materiality Assessment to identify and prioritise issues that have the greatest impact on our business, communities and the environment, and those that matter most to our stakeholders. Our most recent Materiality Assessment was carried out in FY 2021-22, which included research and interviews with key internal and external stakeholders.
Value Creation Model
Vision
Dedicated to the Health & Well- Being of every Household
Mission
Ghar Ghar Ayurveda - Contemporize Ayurveda and make it relevant for the new generation
Values & Principles
- Ownership
- People Development
- Team Work
- Passion for Winning
- Consumer Focus
- Innovation
- Integrity
Enabling Behaviours
- Faster & Agile: Restless for Results
- Future Focus: Think for Future
- Tech & Data Driven: Embrace Digital & Leverage Data in everything
- Entrepreneurial: Act as if it is your own Business
- Execution Excellence: Spring into Action Decisively
- Respect: Demand with Respect
- Fearless Approach: Fail Fast - Progress Over Perfection
Strategic Priorities
- Modernise Ayurveda
- Product Quality and Safety
- Create Power Brands & Power Platforms
- Focused Rural Expansion
- Innovation & Digitalisation
- Sustained Market Share Gains
- Leadership in sustainability
- Responsible People Care
Strategy
As an organization with a history and heritage of 140 years, we understand the value of Trust... trust that our consumers place on our products. Over this nearly one-and-a-half-century-long journey, Dabur has solidified its position as the foremost authority in Natural and Ayurvedic Healthcare, globally. Our rich heritage, coupled with our distinct product offerings and unwavering focus on quality have positioned us uniquely in the market, ensuring that Brand Dabur has an enduring edge over competitors.
To stay relevant in an ever-evolving consumer landscape and be future-ready, we have put in place a strategy that anticipates and responds to emerging trends and challenges. Through a strategic blend of innovation, adaptability, and consumer-centricity, we have positioned ourselves to meet the evolving needs and expectations of our consumers, across generations.
Stakeholder Engagement
In today's dynamic business landscape, the role of stakeholders -- from our employees to our suppliers, investors to business associates and consumers to communities -- is more critical than ever. Their perspectives, insights, and feedback shape our decisions, influence our strategies, and ultimately determine our success.
We seek out opportunities to listen, learn, and collaborate with our stakeholders, ensuring that their voices are heard, and their contributions are valued. By doing so, we not only strengthen our relationships but also drive sustainable growth and create shared value for all. We actively engage through a broad range of communication channels to promote participative and integrated decision-making.
Corporate Governance
Robust Corporate Governance forms the cornerstone of our sustained performance, helping us gain the trust and respect of our stakeholder. Dabur has set the highest standards in transparency to not just maintain but also grow the confidence of all its stakeholders.
Our governance framework and principles draw inspiration from our ethics, values, and the culture of professionalism we uphold. Rooted in the Dabur value system, we take pride in conducting our business with integrity and ensuring adherence to all laws and regulations and achieving the highest standards of Corporate Governance
Risk Management
Our operating environment is constantly evolving. In order to remain competitive and ensure sustainable success, Dabur consciously identifies and assesses risks, and responds appropriately to them.
Our ability to create long-term value depends on how we manage and mitigate the impact of these risks and leverage emerging opportunities.
Risks are owned and managed by line management. Risk function facilitates the conversations and helps monitor the action plans. Critical risks are escalated through existing reporting lines.
Financial Capital
Financial Capital serves as the cornerstone of our business framework. At Dabur, we prioritize the stability of our financial foundation to achieve our growth objectives and deliver value to our stakeholders. Towards this end, we remain focused on optimizing costs, allocating capital prudently, and fostering resilient operating cash flows.
Our commitment to creating stakeholder value and enhancing consumer experiences guides our business endeavours. We acknowledge that a robust balance sheet is essential for long-term success and stability of the organization. Accordingly, we have taken measures to strengthen our balance sheet, year after year, resulting in continual enhancement of our financial position. Through a rigorous financial management system, we identify the need for funds to support ongoing operations and capitalize on growth opportunities sustainably.
Manufactured Capital
Dabur is today one of the most diverse players in the FMCG industry with a portfolio ranging from traditional Ayurvedic to core FMCG products like hair oils, toothpastes, shampoos, and beverages. This has resulted in a highly agile, flexible and future fit manufacturing network spanning 9 countries - India, UAE, Nepal, Bangladesh, Sri Lanka, South Africa, Nigeria, Egypt and Turkey. The geographical spread ensures that our products reach consumer households in 120+ countries across the globe.
During the year, the Board of Directors of Dabur India Limited approved an investment of 135 Crore for setting up a new multi-category manufacturing facility in South India, which will be our first site in that part of India.
Human Capital
The key to Dabur's success lies in the talent, dedication and collective expertise of our diverse workforce. Our actions towards professional development, employee well-being and diversity initiatives recognize our commitment to nurture talent and foster a supportive work environment. With the collective efforts and unwavering dedication of our employees, we were able to overcome challenges and seize the opportunities.
Natural Capital
Our Natural Capital reflects our commitment to become Net Zero Emissions by 2045. Across our manufacturing locations and offices, we have been combining energy conservation practices with a shift towards renewable energy sources to build a more sustainable and resilient energy system that benefits both present and future generations. With these efforts, we are moving towards creating a cleaner, greener future for our planet.
Intellectual Capital
In the fast-paced FMCG industry, staying ahead requires constant evolution and innovation. Our commitment to marrying cutting-edge modern-day Science with the traditional wisdom of Ayurveda is not just about keeping up with the times; it's about leading the way. By leveraging this union, we enhance the efficiency of our processes, streamline operations, and ultimately, deliver better products to our consumers.
Throughout our 140-year journey, we've continually embraced technological advancements to fuel innovation. We foster a culture that encourages our team to cultivate and implement creative ideas. Drawing from our rich heritage and nearly a century and a half of experience, coupled with our extensive knowledge base, strong brand recognition, commitment to quality, and robust distribution network, we strive to enhance our Corporate Value.
Independent Third Party Assessment
TÜV SÜD South Asia Pvt Ltd. (hereinafter TÜV SÜD) has been appointed by Dabur India Ltd to perform a reasonable assurance for BRSR core indicators and limited assurance verification of sustainability indicators in the Integrated Annual Report and Business Responsibility & Sustainability Report of Dabur India Limited (hereinafter "Company") for the period from 01.04.2023 to 31.03.2024.
The verification engagement has been planned and performed in accordance with the verification methodology based upon the ISO 17029 and ISAE 3000.
In addition to this, TÜV SÜD South Asia Pvt Ltd has conducted an independent assessment of Dabur's policies, codes of conduct, materiality assessment report.
Annual Report 2022-23
Social & Relationship Capital
Dabur promotes a relationship of mutual trust and respect with our billions of consumers and the community, as we strive to improve their quality of life through our products and a series of development initiatives. All through our 140-year-long journey, we believe that building strong partnerships with our consumers and the community is the bedrock of our success. We recognise the value of nurturing relationships built on trust, transparency, and shared goals as we go about delivering our Vision of being 'Dedicated to the Health & Well-Being of every Household'.
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