Dabur India, one of the world's largest ayurvedic and natural healthcare companies, ended the financial year 2023-24 with a steady performance, which was largely in line with Street expectations. For the full fiscal FY24, consolidated revenue crossed the psychological mark of ₹12,000 crore to end the year at ₹12,404 crore, up 7.6% compared to the previous fiscal's ₹11,530 crore.
The consolidated net profit grew 7.9% year-on-year (YoY) to ₹1,843 crore, from ₹1,707 crore in FY23, the FMCG company says in an exchange filing today.
In the fourth quarter of the fiscal FY24, the net profit surged 16.2% to ₹350 crore, from ₹301 crore a year earlier. The revenue grew 5.1% to ₹2,815 crore in Q4 FY24, as against ₹2,678 crore in the same period last year.
"We've ended the year with a steady performance, underscoring the power of the Dabur's brands. We have been investing heavily behind our brands, which increased by 33%, to drive demand and also sustain the growth momentum. This has helped us deliver steady sales and profit growth in the fourth quarter despite multiple headwinds,” says Mohit Malhotra, Chief Executive Officer, Dabur India. Premium products today account for 1 8% of Dabur's portfolio.
“We continued to execute on our strategic playbook by driving operational excellence, delivering innovative and premium products, and expanding our retail footprint to build the foundation for long-term profitable, sustainable growth,” he says.
During the fiscal under review, India business reported a volume growth of 5.5%, including Badshah. “The India business saw our key brands and products post category-leading growths with market share gains across 95% of the portfolio.” The mosquito repellent brand Odomos reported a 677 bps gain in market share, while Chyawanprash posted a 138 bps gain and market share on the hair oil market saw a 115bps increase.
“Honitus also marked a 114bps market share gain while our brands carved a 53bps increase in the juices & nectars category,” the release notes.
Meanwhile, Dabur also delivered strong performance in the overseas markets, with the international business reporting a constant currency growth of 12% in the fourth quarter and 16.4% for the full year 2023-24, During the quarter, the Egypt business grew by 63%, while Turkey business was up 39% and Middle east & North Africa (MENA) markets posted a growth of 6.3%. The Sub-Saharan Africa business rose 23.8%.
The board of Dabur also declared a final dividend of ₹2.75 per equity share, having a face value of ₹1 each (i.e 275%) for FY24, taking the total dividend for the fiscal to 550%. "In line with our payout policy, the board has proposed a dividend of Rs 2.75 per share, aggregating to Rs. 487.31 Crore," Dabur India Group Director RD. Narang says. In the past 12 months, Dabur has declared a total equity dividend amounting to ₹5.45 per share.
Reacting to Q4 results, shares of Dabur India ended 3.3% higher at ₹524.30 on the BSE, with a market capitalisation of ₹92,908 crore. During the session, the FMCG stock gained as much as 5.6% to hit an intraday high of ₹536.20.
