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Dabur India ends Q4 & year ended March 31 with sales of Rs 1,909 crore
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Wednesday, 03 May, 2017, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Dabur India Ltd’s (DIL) board of directors met to consider the audited financial results of the company for the fourth quarter of financial year 2016-17 and year ended March 31, 2017. Despite the challenging macro environment, DIL reported steady growth in its key categories like oral care, foods and health supplements to end Q4 of 2016-17 with consolidated net sales of Rs 1,909 crore.
The net sales for the corresponding quarter of 2015-16 stood at Rs 2,006 crore. DIL’s consolidated net profit for the fourth quarter of 2016-17 stood at Rs 333 crore, up from Rs 331 crore a year earlier. The overall operating environment continued to remain tougher in Q4, with severe headwinds in the form of currency devaluations and economic turmoil in key geographies.
“The business faced tough economic environment characterised by extreme volatility in currency, particularly in Egypt and the North American markets, as well as crude-led economic turmoil in Saudi Arabia. In constant currency terms, consolidated net sales remained flat for Q4,” stated Sunil Duggal, chief executive officer, DIL.
“Demand growth, still reeling under the impact of demonetisation, remained slow at the beginning of the quarter. However, it improved as the quarter progressed, led by a significant improvement in rural demand,” he added.
“Our India fast-moving consumer goods (FMCG) business ended the quarter with 2.4 per cent volume growth. Riding on our focus on operating efficiencies and judicious cost management, the margin of earnings before interest, tax, depreciation and amortisation (EBITDA) also increased by 190 basis points (bps),” Duggal stated.
The company’s standalone net profit for Q4 of 2016-17 reported a 5.3 per cent gain to Rs 302 crore, while its standalone net sales remained flat at Rs 1,432 crore. “We have taken steps to efficiently manage the emerging risks and challenges and record profitable growth. The new fiscal will see Dabur strengthen its presence across key categories, leveraging our strong herbal and Ayurvedic heritage,” he added.
Dabur India ended the 2016-17 fiscal with consolidated net sales of Rs 7,680 crore as against Rs 7,851 crore a year earlier. The net profit for the 2016-17 fiscal stood at Rs 1,277 crore, up 2.1 per cent from Rs 1,251 crore a year earlier.
The company’s board of directors recommended a final dividend of 100 per cent, which brought the total dividend for the year to 225 per cent. Anand C Burman, its chairman, said, “Continuing with our payout policy, the board has proposed a final dividend of Re 1 per share, aggregating to Rs 212.01 crore, including dividend tax.”
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