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Dabur India's net deals in Q3 hiked 7.8 per cent to Rs. 2,941 crore from Rs. 2,728.84 crore in a earlier year. Net benefit was up 2.3 per cent to Rs. 503.32 crore.
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Popular for its stronghold in Chyawanprash and Honey products, the FMCG major Dabur India may consider one more round of price hikes because of rising input costs.
The organisation had expanded costs in the quarter-end of December for the second time in this monetary year, the authorities said after a day it pronounced its third-quarter results.
Mohit Malhotra, CEO of Dabur India said that the inflation impact is not mitigating. On top of the base of 4-5 per cent inflation last year, the company again battling 5 per cent inflation. Hence, the company may have to take more price increases going forward.
Dabur India had climbed costs across its product portfolio in the third quarter, with the exception of hair oil, Malhotra added.
The costs of items in its medical care business, for example, Dabur Chyawanprash, a health supplement, Dabur Pudin Hara, a stomach related, and Dabur Honitus cough syrup were expanded by as much as 10 per cent, while its non-alcoholic beverages saw a price hike of 2 per cent.
Malhotra said that the company has been very cautious about the hair oil segment given the market share gain that is happening in the sub-segments of hair oil. But at the other products in the personal care portfolio; skin care and oral care, they have been able to offset the entire inflation through price increases and there is no cautious approach there because the market leader is taking the price increases.
According to a survey, inflation as estimated by the Consumer Price Index was 5.6 per cent in India in December 2021, as indicated by the Economic Survey 2021-22. The emergence in energy costs, non-food items, input costs, disturbance of global supply chains, and rising freight costs stirred up worldwide inflation during the year.
Mohit Malhotra doesn't anticipate that inflation would sink for the following two quarters.