Dabur India Q1 Results FY2023, Net Profit at Rs. 441.12 crores

On 4th August 2022, Dabur India announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The company reported a Revenue at Rs. 2822.43 crores with a growth of 8.07% YoY.

- Profit Before Tax was reported at Rs. 564.12 crores with a drop of 0.68% YoY.

- The company reported its Net profit at Rs. 441.12 crores, up by 0.62% YoY.

Business Highlights:

- Dabur's Foods & Beverages business reported a strong growth, led by 51% jump in the Beverages business. The Foods business also reported 36% growth during the quarter.

- The Home Care business was up 52%, while the Skin & Salon business reported an 11.4% rise during the quarter. The Oral Care business, riding on the strong performance of its Toothpaste brands, ended the quarter with a 12.5% growth. Sustained demand for Hajmola amd PudinHara helped the Digestives business end the quarter up 31%.

- Despite the consumption slowdown and shrinkage in overall demand, Dabur reported market share gains across 98% of its portfolio. In juices and nectars, Dabur grew ahead of the category and improved its market share by 330 bps. Dabur also reported a 240 bps gain in Chyawanprash market share and a 190 bps gain in Honey market share during the quarter. Dabur also reported 30 bps gain in Hair Oil market share to corner the highest-ever volume share in the category at 15.4%. Dabur's shampoo market share reported a 50 bps gain while its share of the Mosquito Repellent Cream category grew by 260 bps

- Dabur's International Business reported an 8% jump in Constant Currency terms, led by strong growths in Turkey (88%), Sub-Saharan Africa (35%), Nepal (30%) and Egypt (17.5%). The International Business reported a 2-year CAGR of 12.9%

Commenting on the results, Mr. Mohit Malhotra, Chief Executive Officer, Dabur India Ltd said: “Our brands continued to grow significantly ahead of the market, gaining market shares across all key categories. Despite the macroeconomic headwinds, we remained focused on rolling our consumer-centric innovation that expanded our total addressable market and report strong, sustainable, profitable growth. The demand environment remained stressed in view of the heavy inflation, which saw consumers switch to more affordable smaller packs of branded consumer goods. Both rural and urban demand growth have been at par for Dabur. Rural demand for Dabur was driven by the ahead-of-the-curve investments in expanding our rural footprint to over 91,500 villages in Ql, up from 89,800 villages in March 2022. Urban growth, on the other hand, was driven by new-age channels like Modern Trade, which grew by 42% during the quarter.”