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HomegooglenewsDabur Q4 Results: Consolidated net profit slips 22%, Turnover reaches 10,000cr

Dabur Q4 Results: Consolidated net profit slips 22%, Turnover reaches 10,000cr

Homegrown FMCG major Dabur India on Thursday reported a 21.98 per cent decline in consolidated net profit to Rs 294.34 crore for the fourth quarter ended March 2022, on account of inflationary headwinds and impairment of goodwill in its international business.

In terms of turnover, Dabur has now become a Rs 10,000 crore company, a milestone that very few homegrown FMCG firms have achieved. Its revenue from operation in FY22 touched Rs 10,888.68 crore.

The company had posted a net profit of Rs 377.29 crore in the January-March quarter a year ago, Dabur India said in a BSE filing.

Its revenue from operations rose 7.74 per cent to Rs 2,517.81 crore during the quarter under review, against Rs 2,336.79 crore in the corresponding quarter of the previous fiscal.

“Dabur braved the inflationary headwinds to end the quarter with a 0.4 per cent growth in Net Profit before exceptional items at Rs 379 crore. An impairment of Goodwill in respect of Hobi Kozmetic, Turkey, amounting to Rs 85 crore was provided, due to the steep devaluation in Turkish currency over the past one year. Including this impairment, reported Net Profit for the fourth quarter of 2021-22 stood at Rs 294 crore,” the company said in an earnings statement.

Dabur India’s total expenses increased by 8.7 per cent to Rs 2,141.04 crore from Rs 1,969.54 crore in Q4 FY2020-21.

During the quarter, Dabur’s revenue from the consumer care business segment inched up 4.25 per cent at Rs 2,095.15 crore. It was Rs 2,009.63 crore in the year-ago period. Revenue from the food business surged 31.28 per cent to Rs 359.90 crore compared to Rs 274.14 crore in the year-ago period, with its Juices and Beverages business growing at 35 per cent.

“Despite the consumption slowdown and shrinkage in overall demand, Dabur reported market share gains across 99 per cent of its product portfolio. In juices and nectars, Dabur grew ahead of the category and improved its market share by 610 bps. Dabur also reported a 250 bps gain in its Chyawanprash market share and a 40 bps gain in shampoo market share during the quarter,” it said.

However, its retail business was down 3.76 per cent at Rs 22.26 crore from Rs 23.13 crore in the corresponding period previous year.

Revenue from other segments rose 28.01 per cent to Rs 30.66 crore against Rs 23.95 crore.

Dabur’s international business reported a 10.7 per cent jump in Constant Currency terms to around Rs 665 crore during the quarter.

“The Egypt business grew by over 12 per cent, while the Namaste business was up 11 per cent and the Turkey business posted a growth of over 47 per cent,” the firm said.

Its standalone revenue from operations was up 7.57 per cent at Rs 1,852.34 crore against Rs 1,721.86 crore.

Dabur India’s total expenses increased by 24.62 per cent to Rs 1,969.54 crore, against Rs 1,580.49 crore in Q4 FY 2020-21.

For the fiscal ended March 2022, Dabur’s consolidated net profit was up 2.79 per cent at Rs 1,742.30 crore. It had reported a net profit of Rs 1,694.95 crore for 2020-21.

Its revenue from operation was at Rs 10,888.68 crore in 2021-22. This is 13.87 per cent higher than Rs 9,561.65 crore in the year-ago period.

Dabur India CEO Mohit Malhotra said: “The year 2021- 22 was a strong year for Dabur as we ended with an industry-leading revenue growth of 13.8 per cent in our India business, with an underlying FMCG Volume Growth of 10.1 per cent for the full year. We also ended the year with a 15.8 per cent Constant Currency growth in the International Business”.

Meanwhile, in a separate filing, Dabur India said its board has recommended a final dividend of 270 per cent, which is Rs 2.70 per equity share having a face value of Re 1 for the financial year 2021-22.

Shares of Dabur India Ltd on Thursday were trading at Rs 529.10 apiece on BSE, down 1.57 per cent from the previous close. PTI KRH KRH BAL BAL

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