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Dabur India posted a consolidated net profit of Rs 1446 crore in the financial year ended March 31, 2019, up 6.5 per cent. The company had recorded a consolidated net profit of Rs 1358 crore in the previous fiscal.
Consolidated revenues in 2018-19 grew by 10.1 per cent to Rs 8533 crore from Rs 7748 crore in the previous fiscal.
“Dabur ended 2018-19 with an 11 per cent volume growth in the India FMCG business with strong gains in market shares across key categories,” the company said in a statement.
The Board of Directors has recommended a final dividend of 150 per cent. “Continuing with our dividend payout policy, the Board has proposed a dividend of Rs 1.50 per share, aggregating to Rs. 319.41 crore, including Dividend Tax,” said Anand C Burman, Chairman, Dabur India Ltd.
The company however said that slowdown in demand due to liquidity issues and a prolonged winter in North India impacted revenues in the fourth quarter ended March 31, 2019. Consolidated revenue in the fourth quarter grew by 4.7 per cent to Rs 2128 crore.
Meanwhile, consolidated net profit in the fourth quarter was down 6.5 per cent and stood at Rs 370 crore due to one-off exceptional charge. “The exceptional item of Rs.75.34 crore for the quarter and year ended 31 March 2019 represents charge on account of impairment of goodwill in one of its wholly owned subsidiary M/s Hobi Kozmetic, Turkey in view of currency devaluation. This impairment pertains to consumer care segment business of the Company,” Dabur India said in a BSE filing.
In a statement, Mohit Malhotra, Chief Executive Officer (CEO), Dabur India said, “The gradual recovery of the domestic market was temporarily impacted by adverse liquidity conditions and the agrarian crisis, particularly towards the end of the financial year. Our India business demonstrated resilience and continued to report a steady growth with strong market share gains in key highly competitive categories. Dabur’s domestic FMCG business recorded a growth of 13 per cent in 2018-19.”
“The performance of our International Business was, however, relatively muted due to a challenging macro-economic environment. Going forward, we will continue to invest behind our brands to successfully tap the significant growth opportunities and deliver profitable volume-led growth,” he added.
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