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Dabur reports 5% increase in net profit and 7% revenue growth for Q2 2023, announces INR 2.75 dividend per share

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On Thursday, Dabur Ltd, an FMCG company, announced a net profit of INR 515 crore for the quarter ending in September 2023, reflecting a 5% increase from the INR 490 crore recorded in the corresponding period of the previous year.

The revenue from operations in the reporting period exhibited a 7% year-on-year growth, reaching INR 3,204 crore. Additionally, the Board has sanctioned an interim dividend of INR 2.75 per equity share for the fiscal year 2023-24.

The specified dividend’s record date has been set for November 10, and eligible shareholders will receive their payments on November 24.

The increase in revenue was primarily propelled by the consistent performance of both the home and personal care as well as healthcare segments. When measured in constant currency (CC) terms, the revenue growth amounts to 10.4%.

In the current quarter, the company has disclosed an EBITDA of INR 777 crore, reflecting a 7% year-on-year increase.

In the Indian market, the company’s prominent brands and products achieved remarkable growth, outpacing competitors in their respective categories and securing increased market share across 90% of the product range. Concurrently, the FMCG segment in India concluded the second quarter with a 3% increase in volume.

Dabur’s global operations maintained their robust growth trend, experiencing a substantial 23.6% increase in constant currency (CC) terms during the second quarter. Within the same quarter, the MENA business expanded by 18%, Egypt by 35%, and the Turkey business by an impressive 78%.

The company noted an increase in urban demand, driven by emerging distribution channels, in a sequential fashion.

“While the rural growth still lags urban demand, the gap has reduced. We are increasingly optimistic about the future as we are seeing green shoots of recovery in rural sentiments,” Dabur said in a statement.

In terms of product categories, Dabur’s digestive business, fueled by the consistent success of its flagship brand Hajmola, achieved an 18.1% growth in the second quarter, while the home care business experienced a 15.1% growth.

The Ayurvedic OTC and Ethicals segment expanded by 8.1%.

The recently acquired Badshah brand demonstrated a 16.4% growth in the quarter. On Thursday, Dabur’s shares were trading at INR 531.50 on the NSE, marking a 2.78% increase.

SnackTeam
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