Homegrown fast moving consumer goods giant Dabur India on Thursday reported a 0.5 percent decrease year-on-year (YoY) in its net consolidated profit at Rs 292.76 crore for the January to March quarter (Q4FY23), as against Rs 294.34 crore in the year-ago period.
Revenue from operations in the fourth quarter, meanwhile, jumped 6.4 percent to Rs 2,677.8 crore for the quarter under review, as compared to Rs 2,517.81 crore in the year-ago period.
This marks a 3-year Compounded Annual Growth Rate (CAGR) of 12.8 per cent, reflecting the remarkable agility and resilience the business continues to demonstrate even in a tough market, the company said in an exchange filing.
The shampoo and hair oil maker said that its operating margin dropped from 18 percent to 15.3 percent, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) plummeted 9.6 percent YoY to ₹410 crore.
For the fiscal ended March 31, 2023, consolidated net profit slipped to Rs 1,701.33 crore from Rs 1,742.3 crore in FY22, the company said.
In FY23, the company's consolidated revenue from operations stood at Rs 11,529.89 crore against Rs 10,888.68 crore in FY22. Dabur’s consolidated revenue crossed the Rs 11,000 crore mark to end the year at Rs 11,529.9 Crore, it said.
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“In an environment where high Inflation continues to impact consumption, we are happy to have progressed well with broad-based growth in our key categories and report market share gains across our product portfolio," said Mohit Malhotra, chief executive officer, Dabur India.
Dabur ended the quarter with a volume case growth of 11 percent and the year with 14 percent.
Malhotra said that the 11 per cent case growth has helped increase the penetration and market share of the firm's brands across categories in line with its ‘Ghar Ghar Dabur’ strategy.
"During the year, we faced high inflation, which was partly mitigated by price increases to the tune of 6 percent. Consumer promotions were offered to soften the impact of price hikes on consumption, which resulted in flatfish Value-weighted Volumes for both the fourth quarter and the year," Malhotra said.
Riding on strong demand, Dabur’s oral care penetration has now increased to 50.8 per cent.
Effectively, every second household in India is now a Dabur oral care household. Also, the Company has now become the number 2 player in the oral care segment with a 15.8 per cent market share, the company said in an exchange filing.
Hair Oils business also reported a 130 basis points (bps) gain in market share to end at its highest-ever share of 17 per cent.
Dabur’s food & beverages business reported a 30 per cent growth during the year with its juices & beverages business also growing at around 30 per cent.
The Home Care business, riding on strong performance of air fresheners, ended the year with a 23.4 per cent growth.
Also, Dabur's International Business continued to move ahead on the growth trajectory with a 9.6 per cent jump in constant currency terms in the fourth quarter and 11.1 per cent for the full year 2022-23.
The Board of Directors recommended a final dividend of 270 per cent, taking the total dividend for FY23 to 520 per cent.
“In line with our payout policy, the Board has proposed a dividend of Rs 2.70 per share, aggregating to Rs. 478.38 Crore,” said P. D. Narang, group director, Dabur India.
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