Dabur Q4FY23 PAT flat at Rs301 crore on higher input costs and inventory losses

Dabur reported 6.4% growth in total revenues for the March 2023 quarter on consolidated basis at Rs2,678cr. On a sequential basis, the revenues were lower by -12%. In terms of revenue growth, the predominant consumer care business saw flat revenues at Rs2,096 crore. However, the foods business grew 59% yoy to Rs571 crore. The retail businesses were much smaller in the overall scheme of things. 

In terms of operating profit contribution, the consumer care business saw a sharp fall in operating profits in the quarter by -13.6% at Rs388 crore on account of higher input costs and inventory translation losses. However, the food business saw operating profits growing by over 40% yoy to Rs71 crore in Q4FY23.

Financial highlights for Mar-23 compared yoy and sequentially

 Dabur India    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 2,678

₹ 2,518

6.35%

₹ 3,043

-12.01%

Operating Profit (Rs cr)

₹ 461

₹ 502

-8.03%

₹ 664

-30.50%

Net Profit (Rs cr)

₹ 301

₹ 294

2.25%

₹ 476

-36.79%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 1.69

₹ 1.66

 

₹ 2.69

 

OPM

17.23%

19.92%

 

21.81%

 

Net Margins

11.23%

11.69%

 

15.64%

 

 

The net profit fall would have been sharp had it not been for the exceptional loss of Rs85 crore in the March 2022 quarter. For the quarter, the interest coverage ratio has come down sharply while the debtor turnover has also fallen showing pressure on the working capital of the company. Net margins were flat yoy but sharply lower on a sequential basis.

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