For
the quarter ending March 2024, consolidated Net sales (including other operating income) of Dabur India has increased 5.11% to Rs 2814.64 crore compared to quarter ended March 2023. Sales of Foods segment has gone up 1.25% to Rs 527.69 crore (accounting for 18.82% of total sales). Sales of Others segment rose 36.11% to Rs 31.81 crore (accounting for 1.13% of total sales). Sales of Retails business segment has gone up 12.37% to Rs 30.88 crore (accounting for 1.10% of total sales). Sales of Consumer Care Business segment has gone up 5.60% to Rs 2,213.96 crore (accounting for 78.95% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 12.80% to Rs 520.39 crore. PBIT of Foods segment fell 4.91% to Rs 67.59 crore (accounting for 12.99% of total PBIT). PBIT of Others segment fell 45.63% to Rs 1.68 crore (accounting for 0.32% of total PBIT). PBIT of Retails business reported profit of Rs 0.84 crore compared to loss of Rs 1.16 crore. PBIT of Consumer Care Business segment rose 15.95% to Rs 450.28 crore (accounting for 86.53% of total PBIT).
PBIT margin of Foods segment fell from 13.64% to 12.81%. PBIT margin of Others segment fell from 13.22% to 5.28%. PBIT margin of Retails business segment rose from negative 4.22% to 2.72%. PBIT margin of Consumer Care Business segment rose from 18.52% to 20.34%. Overall PBIT margin rose from 17.29% to 18.56%.
Operating profit margin has jumped from 15.31% to 16.59%, leading to 13.90% rise in operating profit to Rs 466.81 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 51.25% to 42.53%. Purchase of finished goods cost rose from 5.30% to 9.78%. Employee cost increased from 10.23% to 11.03%. Other expenses rose from 18.71% to 20.39%. Selling and administration expenses rose from 5.37% to 6.40%. Other income rose 6.73% to Rs 128.85 crore. PBIDT rose 12.27% to Rs 595.66 crore. Provision for interest rose 9.71% to Rs 35.24 crore. Loan funds rose to Rs 1,365.09 crore as of 31 March 2024 from Rs 1,173.79 crore as of 31 March 2023. Inventories declined from Rs 2,024.20 crore as of 31 March 2023 to Rs 1,946.97 crore as of 31 March 2024. Sundry debtors were higher at Rs 898.72 crore as of 31 March 2024 compared to Rs 848.75 crore as of 31 March 2023. Cash and bank balance rose to Rs 666.36 crore as of 31 March 2024 from Rs 325.92 crore as of 31 March 2023. Investments rose to Rs 6,932.69 crore as of 31 March 2024 from Rs 6,265.26 crore as of 31 March 2023 .
PBDT rose 12.43% to Rs 560.42 crore. Provision for depreciation rose 5.25% to Rs 107.36 crore. Fixed assets increased to Rs 3,642.11 crore as of 31 March 2024 from Rs 3,348.53 crore as of 31 March 2023. Intangible assets declined from Rs 405.25 crore to Rs 405.12 crore.
Profit before tax grew 14.28% to Rs 453.06 crore. Share of profit/loss was 110.53% lower at Rs -0.4 crore. Provision for tax was expense of Rs 111.44 crore, compared to Rs 103.49 crore. Effective tax rate was 24.62% compared to 26.12%.
Minority interest decreased 2.97% to Rs -8.31 crore. Net profit attributable to owners of the company increased 16.19% to Rs 349.53 crore. Equity capital increased from Rs 177.18 crore as of 31 March 2023 to Rs 177.20 crore as of 31 March 2024. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 66.25% as of 31 March 2024 ,compared to 66.24% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Dabur India has increased 7.58% to Rs 12404.01 crore. Sales of Foods Business segment has gone up 9.94% to Rs 2,178.59 crore (accounting for 17.62% of total sales). Sales of Others segment fell 10.72% to Rs 122.79 crore (accounting for 0.99% of total sales). Sales of Retails business segment has gone up 11.18% to Rs 123.37 crore (accounting for 1.00% of total sales). Sales of Consumer Care Business segment has gone up 7.35% to Rs 9,942.20 crore (accounting for 80.39% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 10.60% to Rs 2,621.24 crore. PBIT of Foods Business segment fell 3.18% to Rs 303.60 crore (accounting for 11.58% of total PBIT). PBIT of Others segment fell 26.00% to Rs 11.84 crore (accounting for 0.45% of total PBIT). PBIT of Retails business reported profit of Rs 1.27 crore compared to loss of Rs 1.25 crore. PBIT of Consumer Care Business segment rose 12.87% to Rs 2,304.53 crore (accounting for 87.92% of total PBIT).
PBIT margin of Foods Business segment fell from 15.82% to 13.94%. PBIT margin of Others segment fell from 11.63% to 9.64%. PBIT margin of Retails business segment rose from negative 1.13% to 1.03%. PBIT margin of Consumer Care Business segment rose from 22.05% to 23.18%. Overall PBIT margin rose from 20.62% to 21.20%.
Operating profit margin has jumped from 18.77% to 19.35%, leading to 10.91% rise in operating profit to Rs 2,400.23 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 45.67% to 41.98%. Purchase of finished goods cost rose from 9.06% to 9.80%. Employee cost increased from 9.78% to 10.03%. Other expenses rose from 16.87% to 18.76%. Selling and administration expenses rose from 5.51% to 6.87%. Other income rose 8.31% to Rs 482.41 crore. PBIDT rose 10.47% to Rs 2882.64 crore. Provision for interest rose 58.72% to Rs 124.18 crore. Loan funds rose to Rs 1,365.09 crore as of 31 March 2024 from Rs 1,173.79 crore as of 31 March 2023. Inventories declined from Rs 2,024.20 crore as of 31 March 2023 to Rs 1,946.97 crore as of 31 March 2024. Sundry debtors were higher at Rs 898.72 crore as of 31 March 2024 compared to Rs 848.75 crore as of 31 March 2023. Cash and bank balance rose to Rs 666.36 crore as of 31 March 2024 from Rs 325.92 crore as of 31 March 2023. Investments rose to Rs 6,932.69 crore as of 31 March 2024 from Rs 6,265.26 crore as of 31 March 2023 .
PBDT rose 8.98% to Rs 2758.46 crore. Provision for depreciation rose 28.38% to Rs 399.21 crore. Fixed assets increased to Rs 3,642.11 crore as of 31 March 2024 from Rs 3,348.53 crore as of 31 March 2023. Intangible assets declined from Rs 405.25 crore to Rs 405.12 crore.
Profit before tax grew 6.26% to Rs 2,359.25 crore. Share of profit/loss was 68.71% higher at Rs -0.51 crore. Provision for tax was expense of Rs 547.43 crore, compared to Rs 517.35 crore. Effective tax rate was 23.21% compared to 23.32%.
Minority interest decreased 439% to Rs -31.37 crore. Net profit attributable to owners of the company increased 7.94% to Rs 1,842.68 crore.
Equity capital increased from Rs 177.18 crore as of 31 March 2023 to Rs 177.20 crore as of 31 March 2024. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 66.25% as of 31 March 2024 ,compared to 66.24% as of 31 March 2023 .
Cash flow from operating activities increased to Rs 2,013.47 crore for year ended March 2024 from Rs 1,488.43 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 563.86 crore, compared to Rs 509.09 crore during the year ended March 2023.
Other Highlights
Board recommended
Final Dividend of Rs 2.75 per equity share having face value of Re 1 each (i.e.
275%) for the financial year 2023-24.
The company’s India FMCG Business posted a
Volume Growth of 5.5% YoY in FY24. The India Business witnessed key brands and
products post category-leading growths with market share gains across 95% of
the portfolio.
International
Business grew by 12% YoY in in Q4 FY24 and 16.4% YoY in FY24. In terms of
region wise, in Q4 FY24, MENA business grew 6.3%, Egypt up 63%, Turkey up 39% and SAARC up
23.8% on YoY basis.
In
Q4 FY24, Healthcare contributed 31.4% of total sales, HPC 48.6% and Foods &
Beverages business 20%.