Dabur India Ltd's Q3FY19 consolidated net profit rises 10.3% yoy to Rs367.2cr : In-line with Estimates

The company’s consolidated revenue stood at Rs2,199.2cr, up 11.8% yoy and 3.5% qoq.

Jan 31, 2019 02:01 IST India Infoline Research Team

Dabur India Ltd Q3FY19

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 2,199.2 11.8
EBITDA 445.4 10.4
EBITDA Margin (%) 20.3 [26]
Net Profit  367.2 10.3
***EBITDA margin change is bps
Dabur India (DIL) reported decent set of numbers for the quarter; broadly in-line with estimates. Reported revenue grew by 11.8% yoy to Rs2,199.2cr, in-line with estimates. EBITDA for the quarter was up 10.4% yoy to Rs445.4cr. High raw material cost (as percent of net sales) was offset by lower advertisement and other expenses. Thus, EBITDA margin contracted marginally by 26bps yoy to 20.3% for the quarter. PAT was up 10.3% yoy to Rs367.2cr, in-line with estimates.
  • The domestic FMCG business grew 15.2% yoy, with an underlying volume growth of 12.4% yoy during the quarter.
  • Consumer care business grew by 12.7% yoy to Rs1,911.6cr followed by food and retail segments which grew by 7.6% and 6.7% yoy respectively.
  • Dabur's shampoo and hair oil businesses grew by 25.2% yoy and 23.6% yoy respectively during the quarter, helping the Hair Care category to report ~24% yoy growth.
  • The Skin & Salon business grew by 19.3% yoy, while the OTC & Ayurvedic Ethicals business grew by 17.6% yoy.
  • Dabur's Toothpaste sales, led by Dabur Red Paste, was up 11.1% yoy.
  • The Foods business also grew by 11.1%. Dabur Honey continued its strong growth and reported ~20% growth during the quarter.
  • Gross margin for the quarter contracted by 228bps yoy to 49%.
  • Advertisement cost was down 133bps yoy (as percent of net sales) to 8.1%.
  • Depreciation and interest costs were up by 10.9% yoy and 26.7% yoy respectively.
  • Other income grew by by 3.7% yoy to Rs81.2cr.





Technical View:

Dabur India Ltd is currently trading at Rs. 436.75, up by 5.9 points or 1.37% from its previous closing of Rs. 430.85 on the BSE.
The scrip opened at Rs. 433 and has touched a high and low of Rs. 446.05 and Rs. 427.65 respectively. So far 80,76,979 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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