Dabur Ltd Q2 Results FY2023, Net Profit at Rs. 490.1 crores
On 25th October 2022, Dabur Ltd announced its second quarter results for the period ending 30th September 2022.
Q2FY23 Performance updates:
- Dabur reported a Consolidated Revenue of Rs 2,986.5 Crore in the second quarter of 2022-23 financial year, up from Rs 2,817.6 Crore in the same quarter a year ago. Consolidated Revenue for the quarter reported a 3-year CAGR of 10.5%.
- Dabur reported a Net Profit of Rs 490.1 Crore.
- Dabur reported a 410 bps market share gain in the Juices & Nectars category, while its share of the Digestives category improved by 270 bps. Chyawanprash's market share increased by 120 bps and the share of the Shampoo category improved by 40 bps. Dabur's share of the Hair Oils market increased by 20 bps. Innovation continues to be the cornerstone of Dabur's strategy with new launches contributing to around 4% of Sales
- Dabur's Foods & Beverages business reported a strong 30% growth. The Beverages business ended the quarter with a jump of over 30% while the Foods business reported a 21% growth.
- The Home Care business was up nearly 21%, while the Toothpaste category, riding on the strong performance of its flagship Dabur Red Paste, ended the quarter with an over 11% growth.
- The Shampoo & Post-Wash business ended the quarter up 9%. Dabur's Ayurvedic OTC business also reported a growth of over 9% during the quarter.
- Dabur's International Business reported a 12.3% jump in Constant Currency terms, led by strong Constant Currency growths in Turkey (86%), Nepal (25%), and Egypt (23%).
Commenting on the results, Mr. Mohit Malhotra, CEO of Dabur Ltd said: "While the challenging economic environment continued to be a concern and impacted the purchasing power, we are seeing green shoots of recovery with the onset of festive season. The impact of inflationary pressures was more pronounced in the Rural markets with demand growth in hinterland lagging Urban markets for the first time in five quarters. However, we are hopeful of rural demand reporting a smart recovery in the coming quarters and we are investing ahead of the curve to ride this demand recovery by expanding our rural footprint by adding nearly 9,000 villages in Q2 of 2022-23 to take our total coverage to over 100,000 villages. Dabur is focused on creating shared value and is ploughing higher investments in capital expenditure, digitalization and sustainability. Dabur has made rapid strides on the ESG front and have set ambitious targets, going forward. Dabur became the first Indian consumer goods company to become 100% Plastic Waste Neutral in 2021-22. "Not one to rest on our past laurels, this year we have targeted to become Plastic Waste Positive, by collecting, processing and recycling 35,000 MT of post-consumer plastic waste pan-lndia. We are committed to creating circularity in the value chain to achieve a positive balance by 2030, besides becoming Water Positive by 2030 and Carbon Neutral by 2040.
The Board of Directors of Dabur India Ltd declared an Interim Dividend of Rs 2.50 per share i.e., 250% for FY2022-23.
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