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Ref: SEC/SE/2022-23 WT
India Ltd.
Date: October 6, 2022

To,
Corporate Relation Department National Stock Exchange of India Ltd
BSE Ltd Exchange Plaza, 5th Floor
Phiroze Jeejeebhoy Towers Plot No. C/1, G Block Bandra - Kurla Complex
Dalal Street, Mumbai- 400001 Bandra (E), Mumbai - 400051

BSE Scrip Code: 500096 NSE Scrip Symbol: DABUR

Sub: Quarterly Update - Q2 FY2022-23

Dear Sir/Madam,

Please find enclosed an update on the performance and demand trends witnessed during the quarter
ended September 30, 2022 (Q2 FY23).

This will be followed by detailed financial results and earnings presentation once the Board of Directors
of the Company approves the consolidated and standalone financial results for the quarter ended
September 30, 2022.

Thank you.

Yours faithfully,
For Dabur India Limited

ASHOK
Digitally signed by ASHOK KUMAR JAIN
DN: c=IN, postalCode=110092, st=DELHI,
street=EAST DELHI, l=EAST DELHI,
o=Personal,
serialNumber=ecb3e1fdc2a028c70333c2d10

KUMAR
a7e968110c5d0645b352ed6dfd1bc6aad8147
b3,
pseudonym=459e115d99c240908ca599222d

_J^J^i_
e2db9e,
2.5.4.20=08443b3bbbcf5f80cd46cc26add8b8

JAIN
bdd652ffd20caa6b7340b03564e4b39dfa,
email=ASHOK.JAIN@DABUR.COM,
cn=ASHOK KUMAR JAIN
Date: 2022.10.06 15:53:49 +05'30'

(Akjaii^j)
Executive V P (Finance) and Company Secretary

End:as above

DABUR INDIA LIMITED, Punjabi Bhawan, 10, Rouse Avenue, New Delhi-110 002, Tel.: +91 11 71206000 Fax: +91 11 23222051
Regd. Office: 8/3, AsafAli Road, New Delhi -110" 002 (India)
PAN: AAACD0474C, CIN: L24230DL1975PLC007908, Email: corpcomm@dabur.com, Website: www.dabur.com
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for Quarter Septeniber 30, 2022 (Q2 FY23)

This update provides an overall summary of the performance and demand trends witnessed during the
quarter ended September 30, 2022 (Q2 FY23). This will be followed by detailed financial results and
earnings presentation once the Board of Directors of the Company approves the consolidated and
standalone financial results for the quarter ended September 30, 2022.

Geopolitical situation continued to impact the business with unprecedented inflation during the quarter.
This led to weak demand trends across categories. Urban markets were driven by modern trade and e-
commerce which saw double-digit growth. Rural markets witnessed some pressure in terms of liquidity.
Going forward, moderating inflation and festive season should support consumption growth in the
second half of the fiscal.

Despite the challenges posed by macro-economic situation, Dabur's India business had a steady
performance and is expected to report revenue growth in mid-single digits. Food & Beverages vertical
continued to lead with robust double-digit growth on a high base of 43% growth in Q2FY22. Home and
Personal Care portfolio is expected to record mid-single digit growth on a high base of 16.7% growth in
Q2FY22. Healthcare vertical is expected to report a hear double-digit growth in terms of 3-year CAGR but
will see a muted performance during the quarter on the back of high Covid base.

International Business is expected to post double-digit revenue growth in constant currency. However,
some of our markets like Turkey and Egypt continued to see currency devaluation during the quarter
impacting the translated growth.

Overall, the consolidated revenue is expected to grow at mid-single digit. We continue to grow ahead of
category growths and gain market share in most of our segments, both in domestic and overseas markets.

During the quarter inflation was at peak levels which impacted gross margins. The input cost pressure led
to a near term impact on operating margin which is expected to be lower by around 150-200 bps as
compared to Q2 FY22 but will see sequential improvement. With commodity prices easing, inflation is
expected to ease in H2 FY22 leading to y-o-y improvement in operating margins.

The company continues on the trajectory of outperforming the industry. We continue to invest strongly
behind Power Brands, Innovation, Digitization, A&P, distribution expansion and a strong back end which
will enable us to achieve profitable and sustainable growth.

About Dabur India Ltd

Dabur India Limited is one of India's leading FMCG Companies. Building on a legacy of quality and
experience for 138 years, Dabur is today India's most trusted name and one of the world's largest
Ayurvedic and Natural Health Care Company. Dabur India's FMCG portfolio today includes nine distinct
Power Brands: Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur PudinHara and Dabur Lal Tail
Digitally signed by ASHOK KUMAR JAIN
DN: c=IN, postalCode=110092, st=DELHI,

ASHOK
street=EAST DELHI, l=EAST DELHI, o=Personal,
serialNumber=ecb3e1fdc2a028c70333c2d10a7e968
110c5d0645b352ed6dfd1bc6aad8147b3,
pseudonym=459e115d99c240908ca599222de2db9

KUMAR JAIN
e,
2.5.4.20=08443b3bbbcf5f80cd46cc26add8b8bdd65
2ffd20caa6b7340b03564e4b39dfa,
email=ASHOK.JAIN@DABUR.COM, cn=ASHOK
KUMAR JAIN
Date: 2022.10.06 15:54:13 +05'30'
in the Healthcare space; DaburAmla, Dabur Red Paste and Vatika in the Personal Care category; and Real
in the Foods space. During FY 2021-22, Dabur recorded consolidated revenue from operations of
INR 10,889 crore and consolidated profit after tax of INR 1,742 crore.

For further information please contact:

Gagan Ahluwalia
Email: gagan.ahluwalia@dabur.com

AnkitJoshi
Email: a^rLkitLOshi@dabur.com

Disclaimer:
The statements and financials disclosed above may differ from the reported financials to reflect the real
business financial performance. Some of the statements in this communication may be forward looking
statements within the meaning of applicable laws and regulations. Actual results might differ substantially
from those expressed or implied.
ASHOK
Digitally signed by ASHOK KUMAR JAIN
DN: c=IN, postalCode=110092, st=DELHI,
street=EAST DELHI, l=EAST DELHI, o=Personal,
serialNumber=ecb3e1fdc2a028c70333c2d10a7e

KUMAR
968110c5d0645b352ed6dfd1bc6aad8147b3,
pseudonym=459e115d99c240908ca599222de2
db9e,
2.5.4.20=08443b3bbbcf5f80cd46cc26add8b8bd

JAIN
d652ffd20caa6b7340b03564e4b39dfa,
email=ASHOK.JAIN@DABUR.COM, cn=ASHOK
KUMAR JAIN
Date: 2022.10.06 15:54:30 +05'30'