The Board of Directors of Dabur India Ltd (DIL) met here today to consider the unaudited financial results of the company for the quarter ended June 30th, 2020.
The slowdown in economic activity and Supply Chain disruptions in view of the unprecedented lockdown announced by the Government to arrest the spread of COVID-19 pandemic continued to impact the business in the beginning of the first quarter of 2020-21. As the restrictions were subsequently eased, Dabur India Ltd quickly scaled up operations to reach near normal levels in May and June 2020. Dabur India Ltd ended Ql of 2020-21 with a 12.9% drop in Consolidated Revenue from Operations at Rs 1,980 Crore as against Rs 2,273 Crore a year earlier. Consolidated Net Profit for the Quarter stood at Rs 342 Crore, down 5.9% from Rs 363 Crore a year ago.
In the Standalone India Business, Dabur India Ltd reported a 12.3% growth in Net Profit at Rs 289.4 Crore in Ql 2020-21, up from Rs 257.8 Crore a year earlier. Standalone Revenue for the quarter stood at Rs 1,491 Crore as against Rs 1,628 Crore a year ago. Dabur also continued to gain Market Share across all key categories like Chyawanprash, Toothpaste and Packaged Juices & Nectars, during the quarter.
"We entered this crisis from a position of strength. We were growing at a steady pace when the COVID pandemic brought business to a standstill. Amidst this challenging business environment, we quickly revamped our portfolio to meet the growing consumer need for quality Preventive Healthcare, Personal Hygiene and Household Hygiene products, while alongside enhancing production of our existing Ayurvedic Immunity boosters like Dabur Chyawanprash and Dabur Honey. Despite a challenging April, the quarter saw a nearly 7-fold growth in demand for Dabur Chyawanprash and an over 60% surge in demand for Dabur Honey. Dabur has significantly ramped up capacity with production now at near-normal levels and the business poised to deliver growth for the rest of the year," Dabur India Limited Chief Executive Officer Mr. Mohit Malhotra said.
Dabur Chyawanprash reported a growth of over 694% during the quarter, while Dabur Honitus grew by over 80% while Dabur Honey ended Ql 2020-21 with a growth of over 60%. The quarter saw Dabur introduce a record number of new products and variants anchored on the consumer need for Health, Immunity and Hygiene. The quarter saw our new products record Sales of over Rs 100 Crore.
"We will continue to invest behind our Power Brands, many of which are in the Healthcare space, to drive business growth. Going forward, we will also capitalize on the emerging tailwinds and our distribution might to further strengthen our position as a frontrunner in the Ayurvedic Healthcare and Hygiene products markets," Mr. Malhotra added.
Shares of DABUR INDIA LTD. was last trading in BSE at Rs.489.9 as compared to the previous close of Rs. 474.75. The total number of shares traded during the day was 123712 in over 3109 trades.
The stock hit an intraday high of Rs. 492 and intraday low of 476. The net turnover during the day was Rs. 60077234.