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Dabur India Q4 Review - Healthy Volume Growth, Though Margin Slips: Centrum Broking

Dabur India Q4 Review - Healthy Volume Growth, Though Margin Slips: Centrum Broking

<div class="paragraphs"><p>A range of <a href="https://www.dabur.com/">Dabur India Ltd</a>. products is displayed at the company's head office in Ghaziabad, India. (Photographer: Prashanth Vishwanathan/Bloomberg)</p></div>
A range of Dabur India Ltd. products is displayed at the company's head office in Ghaziabad, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Centrum Broking Report

Dabur India Ltd.’s Q4 FY21 print was mixed bag, reported consolidated revenue/Ebitda/adjusted profit after tax grew at 25.3%/25.6%/25.1% YoY.

The India business surged 28.4% led by solid volume growth of 24.4%, whilst International (28% of sales) grew 21.0%.

We note outstanding efforts coupled with strong execution led the company to makeover in its stellar performance in FY21.

Management cited despite challenging market conditions, the call-on-duty delivered best performance through its rural distribution efforts driving its power brand strategy.

Further, ad-spend rose 53.8% reflecting volume growth, yet it aspires to spend approximately 10% of sales, but margin slips Q4.

Click on the attachment to read the full report:

Centrum Broking Dabur India Ltd -Q4FY21 Result Update .pdf

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