Check share price live: Dabur India
Dabur India shares ended lower today after the FMCG firm reported its Q3 earnings. Share price of Dabur India touched an intraday low of Rs 547 falling 2.61% against the previous close of Rs 561.65. Later, the stock closed 1.38% lower at Rs 553.90 on BSE. The stock opened lower at Rs 557 in the current session.
The stock has fallen after two days of consecutive gain. The share stands higher than the 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.
Dabur India stock has lost 0.63% in a year and fallen 1.34% since the beginning of this year. Market cap of the firm fell to Rs 98,137 crore. Total 0.25 lakh shares changed hands amounting to turnover of Rs 1.37 crore.
The firm logged a 5.49% fall in Q3 net profit to Rs 504.35 crore against Rs 476.65 crore in the corresponding quarter of the previous fiscal. The firm reported a profit of Rs 510.11 crore in the September quarter of the current fiscal. However, revenue climbed 3.44% to Rs 3043 crore in the last quarter against Rs 2941.75 crore revenue in the December quarter of the last fiscal. Total expenses rose to Rs 2523.09 crore in Q3 against Rs 2388.53 crore in the corresponding quarter of the previous fiscal.
The firm announced an interim dividend of Rs 2.50 per share (250% on par value of Rs 1 each), for the financial year 22-23 aggregating to Rs 442.94 crore has been paid during the quarter ended December 31, 2022.
Dabur India Chief Executive Officer Mohit Malhotra said, “We have delivered steady results in what continues to be a difficult cost and operating environment. We continued to adjust prices responsibly to reflect inflation, our India business reported a growth of 3.3% with a 3-year CAGR of 9s% and steady market share gains across portfolio, despite most operating categories reporting a decline.”
The company has outstanding unsecured non-convertible debentures (NCDs) amounting to Rs 250 crore, which will mature on October 21, 2024. The NCDs are listed on National Stock Exchange of lndia Limited (NSE). The assets cover exceeds 100% of the principal amount of NCDs as at December 31, 2022, it said in Q3 earnings presentation.
In its earnings preview, ICICIdirect had said Dabur India is expected to report muted results with a 4.4 per cent revenue growth, largely led by pricing growth. Weak rural demand conditions have continued to impact volume growth even in Q3. Though health supplements are expected to report positive growth numbers but Dabur will be impacted by high growth in base quarter, it said. Foods & beverage segment continued to post strong sales with some moderation in growth.
“We expect 5.1 per cent growth in international business adversely impacted by depreciation of Turkish lira. Gross margin is likely to improve sequentially by 50 bps but is expected to contract by 249 bps YoY. We expect 214 bps contraction in operating margins to 19.2 per cent. We estimate 4.9 per cent decline in net profit to Rs 479.70 crore,” the brokerage added.
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