Homegrown FMCG major Dabur India on Thursday reported a 21.98 percent decline in consolidated net profit to Rs 294.34 crore for the fourth quarter ended March 2022, on account of inflationary headwinds and impairment of goodwill in its international business.

In terms of turnover, Dabur has now become a Rs 10,000 crore company, a milestone that very few homegrown FMCG firms have achieved. Its revenue from operation in FY22 touched Rs 10,888.68 crore.

The company had posted a net profit of Rs 377.29 crore in the January-March quarter a year ago, Dabur India said in a BSE filing. Its revenue from operations rose 7.74 percent to Rs 2,517.81 crore during the quarter under review, against Rs 2,336.79 crore in the corresponding quarter of the previous fiscal.

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"Dabur braved the inflationary headwinds to end the quarter with a 0.4 percent growth in Net Profit before exceptional items at Rs 379 crore. An impairment of Goodwill in respect of Hobi Kozmetic, Turkey, amounting to Rs 85 crore was provided, due to the steep devaluation in Turkish currency over the past year. Including this impairment, reported Net Profit for the fourth quarter of 2021-22 stood at Rs 294 crore," the company said in an earnings statement.

Dabur India's total expenses increased by 8.7 percent to Rs 2,141.04 crore from Rs 1,969.54 crore in Q4 FY2020-21.

During the quarter, Dabur's revenue from the consumer care business segment inched up 4.25 percent at Rs 2,095.15 crore. It was Rs 2,009.63 crore in the year-ago period. Revenue from the food business surged 31.28 percent to Rs 359.90 crore compared to Rs 274.14 crore in the year-ago period, with its Juices and Beverages business growing at 35 percent.

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"Despite the consumption slowdown and shrinkage in overall demand, Dabur reported market share gains across 99 percent of its product portfolio. In juices and nectars, Dabur grew ahead of the category and improved its market share by 610 bps. Dabur also reported a 250 bps gain in its Chyawanprash market share and a 40 bps gain in shampoo market share during the quarter," it said.

However, its retail business was down 3.76 percent at Rs 22.26 crore from Rs 23.13 crore in the corresponding period the previous year. Revenue from other segments rose 28.01 percent to Rs 30.66 crore against Rs 23.95 crore.

Dabur's international business reported a 10.7 percent jump in Constant Currency terms to around Rs 665 crore during the quarter. "The Egypt business grew by over 12 percent, while the Namaste business was up 11 percent and the Turkey business posted a growth of over 47 percent," the firm said.

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Its standalone revenue from operations was up 7.57 percent at Rs 1,852.34 crore against Rs 1,721.86 crore. Dabur India's total expenses increased 24.62 percent to Rs 1,969.54 crore, against Rs 1,580.49 crore in Q4 FY 2020-21.

For the fiscal ended March 2022, Dabur's consolidated net profit was up 2.79 percent at Rs 1,742.30 crore. It had reported a net profit of Rs 1,694.95 crore for 2020-21. Its revenue from operation was at Rs 10,888.68 crore in 2021-22. This is 13.87 percent higher than Rs 9,561.65 crore in the year-ago period.

Dabur India CEO Mohit Malhotra said: "The year 2021- 22 was a strong year for Dabur as we ended with an industry-leading Revenue growth of 13.8 percent in our India Business, with an underlying FMCG Volume Growth of 10.1 percent for the full year. We also ended the year with a 15.8 percent Constant Currency growth in the International Business".

"We are looking at growing ahead of the market, gaining market shares across our categories and that is the target that we have taken. But for full year we are looking at a high single and low double value growth, some will come from the price increases and some will come from the volume. And we will try not to have negative volume growth at all in the business," he said.

Meanwhile, in a separate filing, Dabur India said its board has recommended a final dividend of 270 percent, which is Rs 2.70 per equity share having a face value of Re 1 for the financial year 2021-22.

Shares of Dabur India Ltd on Thursday were trading at Rs 529.10 apiece on BSE, down 1.57 percent from the previous close.

(With inputs from PTI)

(Edited by : Jomy Jos Pullokaran)