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Dabur Q4FY21 misses street estimates; revenue at Rs 2,337 crore led by 25.4% volume growth

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FMCG major Dabur India reported a 34 percent rise in consolidated net profit at Rs 377.3 crore for the quarter ended March 2021 as compared to Rs 281.6 crore in the year-ago period.

FMCG major Dabur India reported a 34 percent rise in consolidated net profit at Rs 377.3 crore for the quarter ended March 2021 as compared to Rs 281.6 crore in the year-ago period.
The company's consolidated revenue increased 25.3 percent to Rs 2,337 crore from Rs 1,865.4 crore, YoY, led by volume growth of 25.4 percent.
On the operational front, consolidated EBITDA during Q4FY21 rose 25.6 percent to Rs 442.5 crore as against Rs 352.3 crore, while EBITDA margin was flat at 18.9 percent, YoY.
The company's earnings missed CNBC-TV analysts' poll estimates on all fronts.
"Dabur continued to gain Market Share across all key categories like Shampoos, Toothpaste, Hair Oils, Chyawanprash and Packaged Juices & Nectars, during the quarter and the full year," the company said in a regulatory filing.
For the 2020-21 financial year, Dabur India Ltd reported a 10 percent growth in consolidated revenue at Rs 9,562 crore, while consolidated net profit was up 17.2 percent to Rs 1,693 crore.
“In a challenging market environment, we have delivered another consecutive quarter of double-digit, profitable Sales growth. Our strategic business transformation exercise to develop and implement aggressive growth strategies in our core business areas has led to a more flexible company, helping us successfully navigate the emerging headwinds,” Dabur India Chief Executive Officer Mohit Malhotra said.
The operating environment remains challenging with the emergence of the second and more devastating wave of COVID.
"Despite the uncertainty related to the extent and length of the fresh wave, we will respond to the challenges by sharpening focus on our Power Brands and the Ayurvedic Healthcare portfolio, besides building increased flexibility into our planning and Go-to-Market strategies to drive profitable growth and gain market share,” Malhotra added.
Dabur's Healthcare piece reported 23 percent growth in Q4 with the Ayurvedic Ethicals business growing by 39.1 percent, OTC business reporting a growth of 34 percent, the Digestives business growing by 20 percent, and the Health Supplements category ending the quarter with a nearly 18 percent growth.
"We also witnessed a sequential revival in discretionary spending, which helped the Home & Personal Care business grow by 32.6%. The Oral Care category was the outperformer in this category, reporting an over 42% growth during the fourth quarter, led by a 45% surge in the Toothpaste business. Dabur ended the year with a 120 bps gain in market share in the toothpaste category," the company added.
Within HPC, the Skin Care & Salon business grew by nearly 38 percent, while Shampoos continued to gallop ahead with an over 33 percent growth and the Hair Oils business grew by over 24 percent. The Home Care business marked a smart turnaround during the quarter and ended with an over 24 percent growth.
Despite continued pressure on the institutional and HORECA business, the Food & Beverages business marked a turnaround to report a nearly 28 percent growth during the quarter, the company said.
Dabur's International Business registered a 19.4 percent jump in INR terms and 21 percent in Constant Currency terms. The Dubai business grew by over 25 percent, while the Egypt business was up nearly 24 percent and the SAARC business posted a growth of 29 percent.
The company's board of directors also recommended a dividend of Rs 3 per share.
At 2:40 pm, the shares of Dabur India were trading 1.94 percent lower at Rs 534.85 apiece on the BSE.

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