Dabur India Ltd. share price target

Margins Remain Robust despite Lower Volume Growth Consolidated net sales of Dabur India grew 1.2% yoy to Rs19.2bn with net profit rising by 11.8% to Rs2.9bn in 1QFY17. Volume growth came in at 4% compared to our estimate of 7%. Its domestic FMCG business grew 0.5%, while international business grew 6% yoy in the quarter under review. We estimate 11.3% & 14.7% CAGR in revenues and earnings through FY16-18E and maintain our BUY...

Established in 1884, Dabur India Ltd. is the second largest FMCG company in India, in terms of Product portfolio. Dabur is a market leader in Chyawanprash category and is increasing its presence in...

Daburs 4QFY16 net revenues grew 10.9%YoY to Rs 21.6bn (vs. our estimate of Rs 21.1bn), led by 9.0% YoY domestic growth and 15.7% international growth. Domestic volume growth was at 7%, despite the high base (8%).

ICICI Securities Ltd | Retail Equity Research Dabur reported better-than-expected Q4FY16 results as 7% volume growth in the domestic FMCG business came as a positive surprise....

Topline beat street estimates led by strong growth in international business and in categories of Foods, Oral Care and Home Care in domestic markets International business saw all-round robust growth with organic business growing by...

Domestic volumes increased 7%: Consumer care segment posted 8.0% sales Oral care, Home Care, OTC & Ethicals, Health Supplements, Digestives and Hair Care grew 18.4%, 19.3% 7.0%, 1.8%, 6.5% and 5.9% respectively while Skin care...

Being the largest and dominant player in the honey segment, Dabur has faced competition from new players such as Patanjali and has lost market share. However, in other categories such as Chyawanprash and Oral Care, Patanjali's entry has created increased consumer awareness about ayurvedic and natural/herbal products which...

Dabur's recent price correction is largely due to supply issues for Real juices with the Nepal border blockade, and rising competitive pressures from Patanjali. With the Nepal border blockade issue resolved, Dabur said that the supply of fruit juices from its Nepal factory...

Daburs 3QFY16 net revenues grew just 2.3% YoY primarily because of (1) Slowdown in the domestic business (2.5% overall volume decline, our est. 1% ex-foods), (2) Heightened competition across most categories, and (3) Disruption in the food business after juice supply was hit from Nepal, resulting in ~Rs 1bn revenue loss.