November 3rd 2023.
Revised Text:
Dabur India Limited, India's leading Science-based Ayurveda company, today announced its financial results for the quarter ending September 30th, 2023.
The company's Revenue from Operations grew by 7.3%, reaching Rs 3,203.8 Crore. On a Constant Currency basis, the Q2 Revenue reported a 10.4% growth. The India Business saw market share gains across 90% of the product portfolio. The India FMCG Business ended the second quarter with a Volume Growth of 3%.
Consolidated Net Profit for the quarter increased by 5.1% to Rs 515.1 Crore, up from Rs 490.1 Crore a year earlier. Net Profit without exceptional legal costs rose by 14.1%, and Ad Spends for the quarter saw a 42.6% growth in the Consolidated business and 40.3% in the Standalone business.
Dabur India Limited Chief Executive Officer, Mr. Mohit Malhotra, said “We have delivered steady Revenue and double-digit Operating Profit growth with improvement in gross margins led by moderating inflation. We believe we are on the right path with our strategic playbook. We remain focused on managing our business with agility, leveraging our strong distribution footprint while enhancing our margins, quarter after quarter.”
The company's International business showed continued growth momentum with a 23.6% jump in Constant Currency terms in the second quarter. The MENA business grew by 18.4%, Egypt by 35%, and the Turkey business by 78%.
In terms of category performance, Dabur’s Digestive business grew by 18.1%, while the Home Care business reported a 15.1% growth. The Ayurvedic OTC and Ethicals business grew by 8.1%. The flagship toothpaste franchise Dabur Red ended the quarter with a high single-digit growth and continued market share gains. The Foods business ended with a 40.4% surge, while the recently acquired Badshah brand reported a 16.4% growth.
The Board of Directors of Dabur India Ltd declared an Interim Dividend of 275% for 2023-24. The payout amounted to Rs 487.31 Crore.
Dabur is also making progress towards meeting its long-term sustainability commitments. The company's ranking on DJSI improved by 140%, ranking it amongst the leading Corporates in India on the Sustainability Index. It aims to achieve Net Zero in its entire value chain by 2045.
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