Table of Contents

Overview: ................................................................................................................................................ 2
Product Portfolio ..................................................................................................................................... 4
Revenue from Product Portfolio (2018-19) ............................................................................................ 5
Life of Dabur:........................................................................................................................................... 6
FMCG Sector Overview in India: ............................................................................................................. 7
Manufacturing Units: .............................................................................................................................. 8
India .................................................................................................................................................... 8
Overseas.......................................................................................................................................... 8
Position in Market ................................................................................................................................... 9
Other game changing products .......................................................................................................... 9
Volume .................................................................................................................................................. 10
By sales (8%) ..................................................................................................................................... 10
By value 11% ................................................................................................................................. 10
Financial Highlights ............................................................................................................................... 11
Company Details (06/05/20)................................................................................................................. 11
Share Holding Pattern in (%) ................................................................................................................. 12
Ratios peer’s comparison (F= Favourable, U= Unfavourable) .............................................................. 12
Income Statement (Consolidated (in Cr.)) ............................................................................................ 13
SWOT Analysis....................................................................................................................................... 13
Overview:
Dabur India Ltd. is one of India’s leading FMCG Companies with Revenues of over Rs 8,500
Crore & Market Capitalisation of over Rs 72,500 Crore. Building on a legacy of quality and
experience of over 135 years, Dabur is today India’s most trusted name and the world’s
largest Ayurvedic and Natural Health Care Company.

Dabur India is also a world leader in Ayurveda with a portfolio of over 250 Herbal/Ayurvedic
products. Dabur's FMCG portfolio today includes five flagship brands with distinct brand
identities -- Dabur as the master brand for natural healthcare products, Vatika for premium
personal care, Hajmola for digestives, Réal for fruit juices and beverages and Fem for
fairness bleaches and skin care products.

Dabur today operates in key consumer product categories like Hair Care, Oral Care, Health
Care, Skin Care, Home Care and Foods. The ayurvedic company has a wide distribution
network, covering 6.7 million retail outlets with a high penetration in both urban and rural
markets.

Dabur's products also have huge presence in the overseas markets and are today available
in over 100 countries across the globe. Its brands are highly popular in the Middle East,
SAARC countries, Africa, US, Europe and Russia. Dabur's overseas revenue today accounts
for over 27% of the total turnover.

The 135-year-old ayurvedic company, promoted by the Burman family, started operating in
1884 as an Ayurvedic medicines company. From its humble beginnings in the by lanes of
Calcutta, Dabur India Ltd has come a long way today to become one of the biggest Indian-
owned consumer goods companies with the largest herbal and natural product portfolio in
the world. Overall, Dabur has successfully transformed itself from being a family-run
business to become a professionally managed enterprise. What sets Dabur apart from the
crowd is its ability to change ahead of others and to always set new standards in corporate
governance & innovation.

Dabur also recommends various Ayurvedic Home Remedies formulated using ayurvedic
plants & herbs which are natural & chemical free.
5 Brands:
Product Portfolio
Revenue from Product Portfolio (2018-19)

Sales in India(in Cr)

17%

32%
Health Care
Home & Personal Care
Foods

51%

Sales in Overseas

14%
25%
America
Africa
22% Europe
Middle East
Asia
27%
12%
Life of Dabur:

Dabur: Celebrate life

2019 Dabur expands ayurvedic medicines portfolio with launch of 2 new
products.
For excellence in Corporate Governance, Dabur wins the ICSI National
Award.

2018 Dabur acquired D&A Cosmetics Proprietary Ltd and Atlanta Body & Health
Products Proprietary Ltd through its subsidiary

2016 Dabur Gulabari and Dabur Lal Dant Manjan clock a turnover of Rs 1.00
billion (US$ 14.88 million) each

2011 Dabur enters professional skin care market and acquires Ajanta Pharma's
over-the-counter brand '30-Plus'

2007 Foray into organised retail, celebrated 10 years of Real and Dabur Foods
Merged with Dabur India

2000 Dabur India Ltd.’s turnover crosses the Rs 10.00 billion (US$ 222.47 million)
mark

1972 Dabur's operations shift to Delhi and a new manufacturing plant is set up in
temporary premises in Faridabad on the outskirts of Delhi

Early 1900s Dabur enters the specialised area of nature-based Ayurvedic medicines, for
which standardised drugs are not available in the market

1896 Setting up a manufacturing plant

1884 Birth of Dabur

FMCG Sector Overview in India:
Manufacturing Units:
There are total 20 manufacturing unit, 12 in India and 8 Overseas.

India
• Alwar
• Baddi
• Jammu
• Katni
• Narendrapur
• Nashik
• Newai
• Pantnagar
• Pithampur
• Sahibabad
• Silvasa
• Tezpur
Overseas
• Bangladesh
• Egypt
• Nepal
• Nigeria
• South Africa
• Sri Lanka
• Turkey
• UAE

Key Highlights

➢ 90% production efficiency achieved in FY 2018-19.

➢ 10% increase in production over previous year.
➢ Carry and forwarding agents 28
➢ Warehouses 30
➢ Super stockists and distributors 3,881
➢ Sub-stockists 11,670
Position in Market (In India)

Product Rank Market Major Key Differentiator

Share Competitor
Juice (Real) 1 43.5% Tropicana • Loved among all age groups
(Pepsi) • brand has positioned itself as a
healthy fruit drink
• Various flavours and varieties
• a 360-degree campaign to
reinforce its image in the
consumer market.
chyawanprash 1 60% Patanjali • Brand name
• Positioned itself as healthy
Ayurvedic product
• Product loyalty
Honey 1 54% Patanjali • Dabur honey is the natural
substitute of sugar and can give
healthy benefit by having Honey
with lime and Luke warm water
• Small Pouch for kids
• Amitabh Bacchan as Brand
Ambassador

Other game changing products

Product Rank Market Share Major Competitor

Toothpaste 3 15% Colgate, HUL
(Meswak)
Dabur amla hair oil 2 38% Marico
Volume
By sales (8%)

Sales

HUL Dabur India Marico Godrej Consumer Colgate P and G Emami Others

By value 11%

Market Share

HUL Dabur India Marico Godrej Consumer Colgate P and G Emami Others
Financial Highlights

Revenue from Operating Profit( Rs

operations( Rs in in Cr)
Cr)… 7.6% Growth
Series 1 Series 1

10000 2000
5000 1000
0 0

PAT ( Rs in Cr) Shareholder's fund(

6.5% Growth Rs in Cr)
Series 1

1500 Series 1
1000
500 6000
4000
0
2000
0

Company Details (06/05/20)

Parameter Specification
Dabur BSE 500096
Dabur NSE DABUR
Market Cap (Rs Cr) 80,754.82
Closing Price 457.00
52 weak High 525.00
52 weak Low 357.55
Share Holding Pattern in (%)

Standalone June 19 March 19 December 18 September 18

Promoters 67.88 67.9 67.89 67.88
Pledged 0 0 0 0
FII/FPI 17.76 18.21 18.16 18.15
Fin.Insts .5 .28 .27 .27
Insurance 2.59 2.51 2.57 2.53
MF 3.88 3.83 4.06 4.03
Others DIIs 1.92 2.2 2.22 2.31
Others 5.48 5.07 4.82 4.82
Total 100 100 100 100

Ratios peer’s comparison (F= Favourable, U= Unfavourable)

Ratios Dabur HUL F/U Colgate F/U Marico F/U

EPS 7.16 31.13 U 28.52 U 7.79 U
Dividend/Share 2.75 25.00 U 23.00 U 6.75 U
Net 7.16 31.19 U 28.52 U 7.80 U
Profit/share
Net Profit 20.15 17.37 F 17.37 F 17.18 F
margin (%)
ROE (%) 31.85 83.89 U 53.60 U 28.71 F
ROCE (%) 37.75 89.49 U 70.74 U 36.17 F
ROA (%) 22.66 34.37 U 29.52 U 21.11 F
D/E .03 0.00 F .05 F .03 F
Asset Turnover 112.44 197.86 U 169.90 U 122.83 U
Ratio (%)
Current ratio 1.40 1.31 F .96 F 2.35 F
Inventory 8.56 14.71 U 17.95 U 5.02 F
Turnover Ratio
(%)
EV/EBITDA 44.01 47.55 F 26.62 U 24.94 U
P/B 18.20 61.81 F 23.66 F 10.12 U
Income Statement (Consolidated (in Cr.))

Mar 19 Mar 18 Mar 17 Mar 16

Gross Sales 9350 8444 7701 7868
Net Sales 8514 7721 7613 7779
Total Expenses 6775 6104 6104 6261
Operating Profit 1739 1617 1508 1518
Other Income 2035 1922 1817 1735
PBDT 1976 1869 1753 1686
PBT 1723 1692 1610 1553
PAT 1445 1357 1280 1068

SWOT Analysis

Strength Opportunity
➢ Growth in quarterly net profit ➢ Can enter in different segments
➢ Low debt ➢ Sell through online channels
➢ Net profit increasing for last 3 years ➢ Improvement in digital marketing
➢ Zero promoter pledge
Weakness Threats
➢ Growing costs ➢ High PE (>40)
➢ Weak momentum ➢ Competition
➢ MFs decreased their shareholding ➢ Entry of big ayurvedic giant like
last quarter Patanjali