Dabur shares settle 4% lower on muted March quarter business update
Dabur through an exchange filing, on Thursday, informed that it expects mid-single-digit growth in Q4FY23.
Shares of Dabur on April 6 ended 4 per cent lower after the company released its March quarter update during the noon trade. At close, the stock was down 4 .03 per cent at Rs 525.85 on the BSE.
The fast-moving consumer goods company, through an exchange filing, on Thursday, informed that it expects mid-single-digit growth in Q4FY23.
“Overall, Dabur's consolidated revenue is expected to report mid-single digit growth during the quarter,” the filing read.
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The filing further mentioned that Food and Beverage (F&B) business will report strong double-digit growth, while the healthcare business is expected to be on a positive growth trajectory.
However, Dabur’s HPC business is expected to report low single-digit revenue growth on account of the slowdown in the personal care categories.
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"The demand trajectory across both urban and rural markets in India has shown a slight improvement sequentially. Although, it falls short of a full recovery. While urban markets have returned to positive volume growth, rural markets still remain muted," the company said in its filing.
The company's international trade suffered due to currency headwinds in Egypt and Turkey. The FMCG major also informed of infusing money into its brands and restructuring its distribution network for long-term benefit.
The report added that the quarter marked the consolidation of Badshah Masala (effective January 2, 2023).
Further, the company informed that it will continue to invest strongly in Power Brands, Innovation, and distribution expansion.
Dabur share price history
Year-to-date (YTD), Dabur shares have declined over 6 per cent against Nifty50’s 3.29 per cent fall.
The stock price has underperformed the markets in the last six months as it slipped by over 2 per cent during the window against over a per cent rise in the Nifty50 index.
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