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Dabur India posts consolidated revenue of Rs 2,125 crore for Q2 of ’18
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Monday, 05 November, 2018, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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The Board of Directors of Dabur India Ltd (DIL) met in New Delhi to consider the unaudited financial results of the company for second quarter (Q2) of financial year 2018-19 (the quarter ended September 30, 2018). Its consolidated revenue stood at Rs 2,125 crore, up from Rs 1,959 crore a year ago.
Steady growth across its core businesses in India helped DIL mitigate the impact of geopolitical and currency devaluation headwinds in key overseas markets like the Middle-East and North Africa (MENA) to end Q2 of 2018-19 with an 8.5 per cent growth in consolidated revenue.
Consolidated net profit the quarter grew 4.1 per cent to Rs 377 crore, up from Rs 362 crore a year earlier. The domestic fast-moving consumer goods (FMCG) business grew by 8.6 per cent, led by an underlying volume growth of 8.1 per cent.
“Despite higher competitive intensity, we have sustained a good growth momentum in the domestic FMCG business with our key brands reporting strong market share gains during the quarter,” said Sunil Duggal, chief executive officer, Dabur India.
“The performance in our international business was relatively muted due to the weakness in the MENA region and currency devaluations in markets like Turkey. While the global macroeconomic environment continues to be challenging and competitive intensity remains high, we have delivered a steady performance during the quarter by efficiently managing the risks and challenges,” he added.
“The shift in festive season to the third quarter also impacted the overall performance for this quarter. However, the medium- and long-term growth prospects in India and other emerging markets remain robust, and we are confident that domestic consumer demand will gain pace in months to come,” Duggal said.
“We continue to invest behind our brands and enhance our distribution and go-to-market infrastructure. With consumer demand for nature and Ayurveda-based products on the rise, Dabur’s positioning as the science-based Ayurveda specialist will pave the way for future growth,” he added.
Category growths
The shampoo business for Dabur reported strong gains with a 49 per cent surge during Q2 of 2018-19. The health supplements business grew by 12.3 per cent, while the skin care and salon category posted an around 12 per cent growth. The home care and hair oils businesses both grew by around 11 per cent. The Digestives segment sales was up nearly 11 per cent in Q2 of 2018-19, while the toothpaste category grew by over six per cent during the quarter, with the flagship brand Dabur Red Paste reporting a 19.5 per cent growth.
Dabur’s overseas business ended the quarter with an 8.9 per cent growth, led by strong growth in markets like Egypt (27 per cent) and Turkey (16 per cent).
Dividend
DIL’s board of directors declared an interim dividend of 125 per cent for 2018-19. Anand Burman, the company’s chairman, said, “Continuing with our payout policy, the board has declared an interim dividend of Re 1.25 per share, aggregating to a total payout of Rs 266.17 crore, including tax.”
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