BSE: 500096 | NSE: DABUR | ISIN: INE016A01026
Market Cap: [Rs.Cr.] 43,833.76 | Face Value: [Rs.] 1
Industry: Personal Care - Indian
The global economic environment continued to remain challenging in fiscal 2013-14 withslower than expected growth in GDP. This was largely due to deceleration of growth in someof the emerging market economies triggered by domestic policy weaknesses, tight monetaryconditions and investment and supply constraints. According to an update published by theInternational Monetary Fund (IMF) in April 2014, the global economy is expected to recoverduring 2014-15, mainly led by advanced economies. Growth in emerging market and developingeconomies is expected to pick up modestly. Fig. 1, provides IMF estimates for GDP growthof key economies during 2014.
The Indian economy hasn't remained unscathed from the global economic slowdown andwitnessed deceleration in GDP growth rates. Interestingly though, India's share in theWorld GDP based on purchasing power parity (PPP) has continued to move up and despite theslowdown in growth over the last few years, it continues to show an upward trend, implyingthat India is doing better than the rest of the world and its share of global GDP (PPP)continues to increase. Fig. 2 provides the trend of India's share in global GDP.
As per IMF, India's GDP growth is expected to recover from 4.4% in 2013 to 5.4% in2014, supported by slightly stronger global growth, improving export competitiveness andimplementation of recently approved investment projects. Pickup in exports in recentmonths and measures to curb gold imports have contributed to lowering the current accountdeficit. Policy measures to bolster capital flows have further helped reduce externalvulnerabilities. Overall growth is expected to firm up on policies supporting investmentand a confidence boost from recent policy actions, but may remain below trend. Consumerprice inflation is expected to remain an important challenge, but should continue to moveonto a downward trajectory. Fig. 3 shows consumer inflation in India as estimated by IMF.
The macro-economic slowdown which had earlier impacted most of the sectors of theIndian economy such as autos, consumer durables and industrials, now has a bearing on theFast Moving Consumer Goods (FMCG) industry. Fiscal 2013-14 has been a tough year forIndian consumer sector. On the one hand, food inflation remained high during the year andon the other, there were uncertainties about job prospects and the state of the economy.Given these factors, there has been a deceleration in FMCG growth rates.
According to AC Nielsen, FMCG sector growth rates slipped to single digits in themiddle of fiscal 2013-14. However, they inched up marginally towards the end of fiscal2013-14. Refer Fig.5.
Towards the middle of fiscal 2013-14, there was a sharp depreciation in the IndianRupee (INR) and it touched record lows, primarily as an outcome of widening currentaccount and fiscal deficits. There has been some improvement on this front and the INR hasrecovered from the lows it witnessed around the middle of fiscal 2013-14. Refer Fig. 4.
Despite deceleration in FMCG sector growth rates, India continued to occupy the topspots as per global consumer confidence index study by Nielsen in addition to an uptick inconsumer confidence in the later half of fiscal 2013-14 as presented in Fig.6.
We expect the resilience of India's economic fundamentals combined with increasingconsumerism driven by the factors stated below to lead to brighter times ahead for theFMCG sector:
Favourable demographics and rising income levels
Total consumption expenditure set to increase - expected to reach nearly USD3600 billion by 2020 from USD 1328 billion in 2012
Working population (aged between 15 and 64 years) estimated to increase from 780million in 2011 to 900 million by 2030
India's middle income population estimated to reach 267 million by 2016 from 160million in 2011
Rural FMCG market size to grow from USD 12 billion in 2011 to USD 100 billion by2025 driven by increase in per capita disposable incomes.
DABUR PERFORMANCE OVERVIEW
Building on its enhanced rural retail footprint and innovative consumer-connectinitiatives, Dabur India Ltd sailed through the challenging business environment to post astrong growth in Sales and Profit during the 2013-14 financial year. The Company's Salescrossed the Rs. 7,000 crore mark as was envisaged in the four year strategic plan whichwas completed in fiscal 2014. Your Company is now set to embark upon the next strategicplan starting 1st April 2014 which would guide the Company forward into thenext 4 years.
Good growth momentum was witnessed across key categories and geographies with both theDomestic FMCG business and the International Business reporting strong volume drivengrowth during fiscal 2013-14.
As a company, Dabur is well connected to its consumers and endeavours to provideproducts that meet their needs and requirements. We recognize that understanding consumerbehaviour and needs is critical to not just creating efficacious products but alsodeveloping effective marketing communications. Dabur has been engaging with consumers allthrough the year, basis which a host of new products and variants were developed, acrossproduct categories and geographies, which received encouraging response.
The new product launches in India during the year include a premium health supplementcalled Dabur Ratnaprash, Vatika Olive Enriched Hair Oil, Vatika Enriched Coconut Oil withHibiscus, Vatika Premium Naturals Shampoo with Hibiscus and Reetha, Fem Fairness Naturalswith no added ammonia, besides u
AS A COMPANY, DABUR IS WELL CONNECTED TO ITS CONSUMERS AND ENDEAVOURS TO PROVIDEPRODUCTS THAT MEET THEIR NEEDS AND REQUIREMENTS
new Ayurvedic ethical medicines in different therapeutic areas, India's first range ofdrinking yoghurts under the brand Real Activ and fruit-milk shakes under the brand Real.In addition, we have also launched a new Anardana variant of Hajmola tablets, which hasemerged as a fairly successful variant. The pace of new launches was kept up in ourInternational Business as well with the introduction of Amla Leave-On Oils, Fem Gold HairRemoving Cream, Dermoviva Face Wash, Dermoviva Face Scrub, Vatika Hair May onnaise, VatikaHair Color Creme, Fem Halawa, Straightening and Strengthening Treatment by HAIRepairunder the brand ORS and other products during fiscal 2013-14.
Project Double which was launched during 2012 to double our direct distribution reachin rural India was consolidated and taken further during fiscal 2013-14. Today, ourproducts directly reach over 38,250 villages as compared to a reach of 14,865 villages inMarch 2011. This initiative has not just helped us manage the overall slowdown by boostingsales from the rural markets but also expanded our product basket in rural India, whichhas translated into higher and more profitable sales. As a result, we are now witnessingdemand from the hinterland for products like packaged juices under the brand Real, Femfairness bleaches and Home Care products which were till now considered as very urbancentric. This clearly indicates that the aspirations of rural consumers are increasinglyaligning with their urban counterparts, leading to a steady shift in consumer preferencetowards branded consumer products.
We continued to leverage the various melas and haats organized across rural Indiathrough the year to build greater consumer connect and generate trials for our variousproducts. These initiatives not only gave the rural consumers an opportunity to experienceDabur products, but also generated a huge buzz and positive word for the brands.
In addition to the haats, we engaged with our consumers throughout the year withvarious initiatives such as our mass awareness campaigns (Immune India, Oral Hygienecamps, Health Camps etc.), informative sessions and other promotional events. Appreciationby means of consumer recognitions and awards as well as sustained improvement in customersatisfaction is testimony to our improving customer relationships.
Fiscal 2013-14 also saw Dabur take its beauty, health and wellness products to thedigital world with four dedicated portals. The Company invested in creating an onlinecontent warehouse for its brands in Oral Care, Skin Care, Hair Care and Health Carecategories. Digital media like YouTube, Facebook etc. were used to popularize the productsand create awareness about them. These web initiatives have helped us better connect withthe internet savvy and particularly the younger generation.
The FCMG retail landscape in urban India is witnessing the emergence of chemist outletsas a key trade channel. Today, the chemists play an active role in promoting OTC productswith the flexibility to drive sales of particular brands and products and are fastemerging as retailers of a larger range of health and personal care products. Besidesbeing critical retail points, chemists also act as advisors to consumers seeking solutionsto treat moderate and non-critical health problems. As consumers are increasingly shiftingto self-medication and tend to visit a doctor only for serious ailments, they value theadvice of chemists in the context of OTX/OTC products. The chemists are better educatedand informed as compared to grocers, and give practical suggestions to consumers regardingspecific healthcare issues, hence influencing OTC purchase in a big way.
As India's most trusted healthcare brand, Dabur has already set in motion an initiativeto tap the chemist network in a more focused manner. We have organized our sales teamsspecifically to cater to the demands of this channel and also enhance distribution ofHealth Care and personal products portfolio through the chemist network. In the firstphase, Dabur plans to significantly increase its direct coverage in the chemist channel inurban markets and increase the availability of its product range in this channel. Theproject is already under implementation and we expect to derive benefits from theincreased coverage going ahead.
Riding on these initiatives, Dabur drove demand and generated strong volume-led growtheven though the environment remained challenging. Though there was emergence of pockets ofinflation driven by factors such as adverse exchange rate movements, we continued toinvest strongly behind our brands and enhance our distribution network.
The highlights of Dabur India Ltd's performance during fiscal 2013-14 on a consolidatedbasis are:
Net Sales grew by 15.1% to Rs. 7,073.2 crores in fiscal 2013-14 from Rs. 6,146.4crores in fiscal 2012-13
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)increased to Rs. 1,287.9 crores in fiscal 2013-14, from Rs. 1,096.7 crores in fiscal2012-13, recording a growth of 17.4%
Profit After Tax (PAT) increased to Rs. 913.9 crores in 2013-14, up 19.7% fromRs. 763.4 crores in 2012-13
Earnings Per Share (EPS) increased to Rs. 5.21 in 2013-14 from Rs. 4.35 in2012-13
STRATEGIC BUSINESS UNITS
Our business structure today stands as below:
Consumer Care Business incorporating the Health Care and Home &Personal Care (HPC) verticals, which accounts for 53.4% of consolidated sales
Foods, comprising fruit-based beverages and culinary pastes business,which contributes 11.2% to consolidated sales
International Business, which includes Dabur's organic overseas businessas well as the acquired entities of Hobi Group and Namaste Laboratories LLC. This verticalnow accounts for 32.4% of Dabur's consolidated sales
CONSUMER CARE BUSINESS
The Consumer Care Business is the largest business vertical of Dabur India Ltd. Thisvertical includes our core FMCG business, comprising Health Supplements, OTC &Ethicals, Digestives, Hair Care, Skin Care, Oral Care and Home Care. With strong growthacross most of the key categories, this vertical ended fiscal 2013-14 with a growth of12.8%.
India is witnessing a marked increase in the incidence of lifestyle-related diseases,such as cardiovascular, diabetes etc. With increasing urbanization and problems associatedwith modern-day living, the disease profiles are shifting from infectious tolifestyle-related, particularly in urban India. Rural India is also seeing a higheroccurrence of non-communicable lifestyle related diseases.
With this, matters of health are today taking prime space in the minds of everyindividual. This growing awareness is today seen across age-groups, pop-strata andgeographies. As a result, people, largely in urban India, are increasingly taking to thevirtual world to meet their need for information on preventive health care.
With a legacy and experience of nearly 130 years, brand Dabur evokes trust in itsconsumers and is well placed to cater to the consumers' increasing demand for holistichealth care. Health Care is a key pillar of growth for Dabur, and we have been rolling outa slew of new initiatives aimed at further deepening our commitment towards the health& well-being of every household.
Besides a range of digital initiatives, Dabur has also built a network of doctors andexperts who regularly interact with consumers/patients, addressing their health care needsand offering health solutions. Recognizing the fact that schools play a paramount role inshaping a child's future since they are the primary caregivers during the formative years,Dabur also undertook a host of initiatives focused on schools to educate kids on varioushealth and nutrition matters. These initiatives have resulted in Dabur being named theMost Trusted Leader in the Ayurveda category in the Brand Trust Report 2013, released byTrust Research Advisory.
Dabur's Health Care vertical comprises Health Supplements, Digestives, OTC andAyurvedic Ethical Products. Dabur has a highly experienced R&D (Research &Development) team and access to the centuries old knowledge of Ayurveda, the benefits ofwhich are now being validated with science, to develop efficacious products that arecontemporary and in ready-to-use formats offering our consumers holistic health andwell-being.
Dabur's Health Supplements portfolio comprises three key brands - Dabur Chyawanprash,Dabur Honey and Dabur Glucose. Together, these brands now contribute to 22.0% of ConsumerCare sales. Fiscal 2013-14 saw Dabur roll out a series of new communication campaigns andconsumer activations, both on-ground and in the virtual world, which helped this categoryend the year with a strong 16.4% growth.
Dabur Chyawanprash, the largest brand in this portfolio, continued to be positioned asan immunity specialist. This specialist positioning was taken forward with the brand usingthe advocacy route to spread the message of building immunity and protection fromdiseases. Towards this end, we identified key opinion leaders and doctors to spread theword around the need to strengthen immunity as a foundation of health and well being. Thebrand also signed up Bollywood celebrity Madhuri Dixit for the campaign, which was verywell received and ranked amongst the best advertising campaigns by Brand Equity.
A host of innovative marketing initiatives, integration with popular television serialsand adoption of specialist advertising networks further improved the brand's visibility. Aspecial online campaign was launched which helped us reach out to over 40 millionconsumers in the virtual world. A team of professionals have also been deputed to interactwith the medical fraternity and spread awareness regarding the product benefits andvarious scientific studies conducted on the product to support the claims. Theseinitiatives helped the brand, including the fruit-flavoured variants and the sugar-freevariant, report strong double digit growth during the year.
For the past few years, Dabur Chyawanprash's Immune India campaign has been reachingout to schools across the country to educate students and teachers on the need forimmunity. This year, we took this campaign a step further with the Dabur ChyawanprashImmune India School Challenge through which Dabur Chyawanprash, along with FortisHealthcare, ran a five-month-long competition that sought to spread health awarenessamongst school kids. This initiative helped us reach out to a large number of childrenacross 2,500 schools.
While reaching out to kids on the one hand with education-led initiatives, Your Companyhas also been aware of the growing needs of its adult consumers and has taken steps toaddress them. In order to meet their combined need for immunity, vigour and vitality,Dabur has introduced a premium health supplement called Ratnaprash. Test-launched in sevenkey states, Ratnaprash is a power-packed formula that fights fatigue and keeps one activeall-day long. Enriched with the power of potent natural ingredients like Moti, Kesar,Musali, Brahmi and Amla, Dabur Ratnaprash has been specially developed for adults andhelps rebuild strength, stamina, vigour, vitality and energy which are drained by thestress of day-to-day living. The product has been well received by consumers across thetarget states, and will be rolled out nationally in fiscal 2014-15.
The other major brand in this category, Dabur Honey, which is the largest branded honeyin India, continued to report strong growth despite stiff competition from regionalplayers and price increases due to a surge in raw material prices. Dabur rolled out acampaign, featuring cine star Bipasha Basu to establish Dabur Honey as a weight managementexpert. A high-decibel initiative was also launched - both in the digital space and alsoin the print media to engage consumers and introduce them to the world of Honey-basedrecipes that are simple to cook and are tasty & healthy. Celebrity chef Vikas Khannawas signed up to promote recipes based on Dabur Honey. A compilation of Honey-based easyrecipes is also shared through magazine integration and visitors to the Dabur Honeywebsite are invited to share their own recipes. Riding on these initiatives, the brandgrew well across regions, SKUs and channels.
The Glucose category faced some compression due to a relatively cooler and shortersummer, which had some impact on Dabur Glucose as well. However the brand managed toperform better than the category and ended the year with a gain in market share. DaburGlucose moved away from the generic positioning of 'energy' to a more focused anddifferentiated proposition of 'cooling energy. This proposition was communicated through amega campaign featuring cine star Ajay Devgn.
The Digestives portfolio, which contributes 7.5% to Consumer Care sales, grew by 17.2%in fiscal 2013-14. While Hajmola is one of the major brands in this portfolio, thisbusiness vertical also has a variety of other brands such as Pudin Hara, Hingoli, NatureCare, Sat Isabgol, Lavan Bhaskar Churana and Triphala Churana.
The Hajmola franchise performed well during fiscal 2013-14 and the Anardana variantintroduced at the beginning of the year, emerged as one of the most successful variants inrecent years. Fiscal 2013-14 witnessed brand Hajmola roll out a mega sampling exercisethat helped it reach out to over 30 lacs individuals. Moving away from the earlierstrategy of targeting on-the-go consumption, we decided to focus on in-home sampling. Thisproved to be a major success, helping the brand not only reach out to a large audience butalso generate significant word-of-mouth publicity. A host of new initiatives and specialpacks are being planned to further drive in-home consumption of Hajmola tablets.
Following the successful consolidation of Pudin Hara franchise within the overallDigestives vertical, we saw the Pudin Hara franchise grow by strong double digits with allformats - Pearls, Liquids and Lemon Fizz - performing well. Dabur Pudin Hara undertook aunique initiative in Kanpur -- Dabur Pudin Hara Thandak Ki Chaaon -- under which a 20 feethigh umbrella, with a diameter of 34 feet and 120 kg in weight, was erected in the city.This campaign engaged the residents of Kanpur and sought to establish the cooling &instant relief properties of Pudin Hara. This initiative entered the Limca Book of Recordsas the World's largest Umbrella. Dabur has continued with Ram Kapoor as the brandambassador for Pudin Lemon Fizz and a new campaign is proposed to be launched this summer.Your company is now re-launching the entire Pudin Hara range giving it a common lookacross all formats. This will also help target lookalikes and spurious products. NatureCare, Lavan Bhaskar Churana, Triphala Churana and Sat Isabgol, which are the other brandsin the Digestives portfolio, performed well during fiscal 2013-14.
Dabur's OTC portfolio, which accounts for 7.4% of Consumer Care, offers a variety ofproducts in categories such as Cough & Cold, Men's Health Care, Women's Health Careand Baby Care. This portfolio ended the year 2013-14 with a 10.1% growth.
The Indian over-the-counter or OTC market is growing at a fast pace driven byincreasing reliance on OTC products to address common ailments, increased awareness levelsand greater penetration of OTC products in rural areas.
In this category, it is highly important to build a relationship of trust and comfortwith the customers to ensure loyalty and generate repeat purchase. As a company, Daburmakes efforts to connect with its consumers and develop products that meet their needs andrequirements. The Company has been undertaking a host of initiatives both on-ground andthrough mass media to spread awareness about various OTC products and their benefits,besides executing new visibility campaigns across chemist outlets to reach out toconsumers and enhance the availability of our OTC range.
Dabur's flagship brand in the Baby Care category - Dabur Lal Tail, today controls athird of the baby massage oil market. A new series of campaigns was unveiled this year topropagate the benefits of Dabur Lal Tail and also address some of the queries raised byconsumers. Specially targeted TVCs were made to convey the benefits of key ingredients inthe product, a move that worked well with the brand witnessing an uptick in market shares.As part of a consumer-connect initiative, the product was also sampled with over 300,000new mothers through maternity clinics across India. An encouraging aspect is the fact thegrowth has been all-round with demand from Metro cities growing at a much faster clip,reflecting the fact that a growing number of urban mothers are also opting for Dabur LalTail.
In the Cough & Cold category, Honitus continued to perform well. To drive deeperinto rural India on the back of increased footprint, your Company has introduced a 50mlpack of Honitus cough syrup. In addition, the year marked the re-launch of HonitusLozenges range with a new packaging that aligns it with Honitus syrup. A new Honey Tulsivariant in Honitus lozenges was launched and well received.
A special drive was also undertaken targeting paediatricians and chemists under whichwe initiated doctor detailing of Honitus and Dabur Lal Tail in key cities this year inaddition to in-clinic consumer education.
The new launches and campaigns were supported by on-ground sampling exercise coveringnearly 5 lac kids and consumer activations, which added excitement around the brand. Aspart of its efforts to reach out to kids, Dabur Honitus joined hands with a private FMradio channel and launched a nation-wide hunt to identify child radio-jockeys. Thisinitiative, christened 'Dabur Honitus BIG Junior RJ', was conducted across the country andthe winners got a chance to host on-air shows. The Men's Health Care category tooreported strong growth, led by the flagship energizer brand Shilajit Gold. Riding on thestrength of focused print media advertisements and word-of-mouth publicity, demand forDabur Shilajit Gold grew at a robust pace. The product has been re-launched with a newpack to give it a premium look and feel.
During fiscal 2013-14, Dabur initiated Project CORE (Chemist Outlet and RangeExpansion) to significantly enhance direct reach in the Chemist channel and increase therange of products that are made available through this channel. The project aims to giveDabur the widest reach in the Chemist channel amongst competitors in the OTC segment. Theprogramme has been initiated in top 150 towns, which contribute the largest share of theOTC business in urban India. In these 150 towns the Company's coverage is expected toincrease from 31,385 chemists to around 53,217 chemists in the first phase. The initialphase of rollout is focused in North, East and West regions of the country.
In fiscal 2013-14 special visibility drive was conducted across 5,000-plus chemistretail outlets for Dabur's key OTC brands like Dabur Lal Tail, Dabur Janma Ghunti,Dashmularishta, Ashokatrishta and Shilajit Gold across Chhattisgarh, Madhya Pradesh,Gujarat and Maharashtra. In addition, awareness campaigns and health camps were conductedfor the two women's Health Care brands - Dashmularishta and Ashokarishta Asavs. The newcommunication sought to extend the brands' usage and relevance beyond the post-natalperiod and established them as excellent products for overall rejuvenation.
For the first time, some of smaller emerging brands like Dabur Mahanarayan Tail, DaburShankhpushpi and Dabur Badam Tail were supported with special campaigns in the mediaacross key markets, a move that paid rich dividend and helped these brands grow in strongdouble digits.
Dabur has a wide range of ethical healthcare products based upon the age-old system ofAyurveda. These products are derived from natural sources and form part of this holistichealthcare system, focusing on all-round well-being. The Ayurvedic Ethicals portfolio,which now contributes 4.2% to Consumer Care, performed well growing by 14.9% during fiscal2013-14.
The entire Ethical & Classical umbrella range, covering 418 products and 623 SKUs,was re-launched this year with a contemporary look and feel. During fiscal 2013-14, therange was promoted aggressively through focused activities at Dabur Ayurvedic Centres, inaddition to special Health Camps and Vaid (Ayurvedic doctors) meets throughout the year.
In all, 500 Health Camps were organized across the country during fiscal 2013-14, whichhelped us reach out to more than 3 lac consumers. In addition, a large number of doctormeets were organized and Dabur initiated visits to nine medical colleges in Delhi,Varanasi, Handia and Amritsar to conduct special activations aimed at educating the futureAyurvedic medical professionals about the Dabur range of ethical and classical medicines.
A mega visibility drive was launched under which in-clinic communication andinformation guides for consumers were placed at outlets, besides counter branding wasenhanced at 3,000 key Ayurvedic outlets across the country. Your Company has also put inplace an initiative to educate the people manning counters at key Ayurvedic outlets aboutthe Dabur range.
Engagement programmes were conducted for Vaids throughout the year and nearly 700practising Vaids and key opinion leaders visited our Sahibabad unit, a move that helpedenhance Dabur's brand equity and perception amongst Ayurvedic practitioners. Specialinitiatives were also run on the digital medium to create more awareness about ourproducts and brands.
The year saw Dabur expand its Ethical range with the introduction of two new products-- Kanak Makara Dwaj and Taruni Kusumakar Churna.
As part of its plans to propagate the benefits of Ayurveda, Dabur has launched India'sfirst Ayurvedic Medical Journal, 'Ayurveda Samvad'. This quarterly journal, first of itskind in India, will cover detailed information about the various clinical trials beingconducted on Ayurvedic medicines. It is a part of Dabur's constant endeavour to propagatemessages on the Ayurvedic way of life to manage health and diseases. It will also featurearticles covering original scientific studies in the field of Ayurvedic medicines withdirect clinical significance, addressing health care issues and public health policy.
HOME & PERSONAL CARE
The home and personal care market in India has been growing at a steady pace year onyear, driven by increasing per capita income, rapid urbanization and the risingaspirations among young Indians. While personal grooming products have largely beentargeting the discerning female consumer, beauty and personal care products are nowincreasingly becoming gender-specific. There is a rising aspiration among Indian men tolook better groomed and this, interestingly, is not restricted to big cities only but isvisible in smaller towns too. We have been responding to these emerging trends in themarket with offerings to cater to the beauty and grooming needs of every section of thesociety.
The Home & Personal Care (HPC) vertical in Dabur's Consumer Care Business coverscategories like Hair Care (Hair Oils and Shampoos), Oral Care (toothpastes andtoothpowder) and Skin & Body Care, besides a host of Home Care products like AirFresheners, Mosquito Repellents and Toilet Cleaners. Almost all of these categories havebeen witnessing high levels of competitive intensity in the recent years in a bid tocapture the consumer's mind space.
Dabur, on the strength of its well established brands and a highly differentiatedproduct range, has performed well in spite of stiff competition and ended the year withstrong volume-led growth. We believe that consumer satisfaction is the single mostimportant measure of success for us and the increasing demand for our products validatesthe trust that consumers place in them.
Indian consumers consider hair care as an integral part of their daily beauty andgrooming regime. As the incidence of hair styling grows in the country, the fear ofchemicals harming the hair has also emerged as an area of great concern. Dabur, with itsportfolio of natural hair care solutions, has been addressing this concern and providesthe most-preferred natural hair care brands in the country today.
Our Hair Care portfolio comprises a range of natural hair oils and shampoos. This rangehas now been extended with the launch of natural hair conditioners. During fiscal 2013-14,Dabur's Hair Care portfolio grew by 7.1% and now contributes to 28.1% of the Consumer CareBusiness.
After few years of reporting strong double-digit growth, the Hair Oil industry showedsome signs of weakening in the later part of fiscal 2013-14. This slowdown was prevalentacross all segments of the Hair Oil market with categories like coconut hair oils,perfumed hair oils, light hair oils and cooling hair oils slowing down.
Even during these trying times, Dabur's key hair oil brands -Dabur Amla Hair Oil andthe recently-launched Dabur Almond Hair Oil performed well. Our flagship hair oil brandDabur Amla Hair Oil reported good volume growth during the year and further cemented itsposition as the largest and most preferred perfumed hair oil brand in the country with aconsumer base of over 60 million users.
The company continued to move forward on its two-pronged strategy with Dabur Amla,targeting the mustard oil users in the Hindi belt on one hand and communicating thebenefit of Dabur Amla to consumers in South India on the other. To drive home this messagein South India, we organized a regional beauty contest, 'Hunt for Black Beautiful Hair'and joined hands with a leading private FM radio station in Tamil Nadu to host a megainitiative that helped us reach out to over 3 lac women in the state. These initiativeshave helped build a strong base in South India for Dabur Amla hair Oil and this region isreportin