Reported Earnings • Jul 11
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹10.69 (up from ₹9.97 in FY 2025). Revenue: ₹131.9b (up 5.0% from FY 2025). Net income: ₹19.0b (up 7.2% from FY 2025). Profit margin: 14% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 10
Upcoming dividend of ₹5.50 per share Eligible shareholders must have bought the stock before 17 July 2026. Payment date: 04 September 2026. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.5%). In line with average of industry peers (2.0%). Duyuru • Jun 23
Dabur India Limited to Report Q1, 2027 Results on Jul 29, 2026 Dabur India Limited announced that they will report Q1, 2027 results on Jul 29, 2026 Declared Dividend • May 09
Final dividend of ₹5.50 announced Shareholders will receive a dividend of ₹5.50. Ex-date: 17th July 2026 Payment date: 4th September 2026 Dividend yield will be 1.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 08
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹10.69 (up from ₹9.97 in FY 2025). Revenue: ₹131.9b (up 5.0% from FY 2025). Net income: ₹19.0b (up 7.2% from FY 2025). Profit margin: 14% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Duyuru • May 08
Dabur India Limited, Annual General Meeting, Aug 06, 2026 Dabur India Limited, Annual General Meeting, Aug 06, 2026, at 15:00 Indian Standard Time. Duyuru • Mar 23
Dabur India Limited to Report Q4, 2026 Results on May 07, 2026 Dabur India Limited announced that they will report Q4, 2026 results on May 07, 2026 Duyuru • Feb 19
Dabur Elevates Mohit Malhotra to Global CEO Dabur elevated current country head Mohit Malhotra to global CEO. Duyuru • Feb 18
Dabur India Appoints Herjit Bhalla as CEO for India Business, Effective April 15, 2026 Dabur India announced the appointment of Herjit S. Bhalla as the Chief Executive Officer - India Business with effect from April 15. Effective February 17, Mohit Malhotra has been designated as Whole Time Director and Global Chief Executive Officer. Bhalla is currently serving as Vice-President - Canada and Global Customers, The Hershey Company. He brings over 25 years of deep commercial and general management experience across diverse geographies and business contexts. In 2018, he joined The Hershey Company as Managing Director for India and since then has held several global roles with the company. In the past, he has held senior level roles in companies including Metro Cash & Carry and Unilever. Reported Earnings • Jan 30
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: ₹3.16 (up from ₹2.95 in 3Q 2025). Revenue: ₹35.6b (up 6.1% from 3Q 2025). Net income: ₹5.60b (up 7.2% from 3Q 2025). Profit margin: 16% (in line with 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.3%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Duyuru • Dec 22
Dabur India Limited to Report Q3, 2026 Results on Jan 29, 2026 Dabur India Limited announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Nov 01
First half dividend of ₹2.75 announced Shareholders will receive a dividend of ₹2.75. Ex-date: 7th November 2025 Payment date: 29th November 2025 Dividend yield will be 1.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 31
Second quarter 2026 earnings: Revenues and EPS in line with analyst expectations Second quarter 2026 results: EPS: ₹2.55 (up from ₹2.40 in 2Q 2025). Revenue: ₹31.9b (up 5.4% from 2Q 2025). Net income: ₹4.53b (up 6.5% from 2Q 2025). Profit margin: 14% (in line with 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Sep 26
Dabur India Limited to Report Q2, 2026 Results on Oct 30, 2025 Dabur India Limited announced that they will report Q2, 2026 results on Oct 30, 2025 Upcoming Dividend • Jul 11
Upcoming dividend of ₹5.25 per share Eligible shareholders must have bought the stock before 18 July 2025. Payment date: 12 August 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (1.7%). Reported Earnings • Jul 10
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹9.97 (down from ₹10.40 in FY 2024). Revenue: ₹125.6b (up 1.3% from FY 2024). Net income: ₹17.7b (down 4.1% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.5%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Duyuru • Jun 27
Dabur India Limited to Report Q1, 2026 Results on Jul 31, 2025 Dabur India Limited announced that they will report Q1, 2026 results on Jul 31, 2025 Declared Dividend • May 23
Final dividend increased to ₹5.25 Dividend of ₹5.25 is 91% higher than last year. Ex-date: 18th July 2025 Payment date: 12th August 2025 Dividend yield will be 1.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (100% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 10
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹9.97 (down from ₹10.40 in FY 2024). Revenue: ₹131.1b (up 5.7% from FY 2024). Net income: ₹17.7b (down 4.1% from FY 2024). Profit margin: 14% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.8%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Duyuru • May 07
Dabur India Limited, Annual General Meeting, Aug 07, 2025 Dabur India Limited, Annual General Meeting, Aug 07, 2025, at 15:00 Indian Standard Time. Duyuru • Apr 08
Dabur India Limited Announces Senior Management Changes Dabur India Limited announced the following changes in senior management personnel of the Company: Mr. Philipe Joseph hlaydon, present Head of Health Care Business of the Company, will be superannuating on July 01, 2025, and his cessation from services of the Company will be effective from the close of working hours of July 01, 2025. The Board of Directors of the Company have by way of passing of resolution by circulation on April 07, 2025, based on the recommendation of Nomination and Remuneration Committee, approved the appointment of Mr. Sriram Padmanabhan as h-1ead of Health Care Business, in the Senior Management of the Company, with effect from April 7, 2025 or such other date as may be deemed fit by Executive Director - HR of the Company. Mr. Sriram Padmanabhan, aged 45 years, had completed B. E. in Electronics & Communication from MD University in 2001 and subsequently, PGDM from Management Development Institute (MDI), Gurgaon in 2003. He has an extensive experience of over 21 years in Marketing across categories, Sales, Strategic Planning and P&L Management, and has worked with various reputed organizations such as Abbott Nutrition, GSK Consumer Healthcare, Kimberly dark Lever, Times Internet, Dabur Foods Ltd. etc. His last role was with Danone India as Marketing Director, based at Mumbai. Duyuru • Mar 28
Dabur India Limited to Report Q4, 2025 Results on May 07, 2025 Dabur India Limited announced that they will report Q4, 2025 results on May 07, 2025 Reported Earnings • Jan 31
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: ₹2.95 (up from ₹2.90 in 3Q 2024). Revenue: ₹34.8b (up 7.0% from 3Q 2024). Net income: ₹5.22b (up 1.6% from 3Q 2024). Profit margin: 15% (in line with 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Duyuru • Jan 30
Dabur India Limited Announces Executive Changes Dabur India Limited announced that the Board of Directors of the Company in their meeting held on January 30, 2025, have approved the following change in the Compliance Officer of the Company: . Ashok Kumar Jain (FCS 4311), Executive Vice President (Finance) & Group Company Secretary of the Company, has been designated as the Chief Compliance Officer and Key Managerial Personnel of the Company on January 30, 2025, under Regulation 6 of the Listing Regulations and other applicable SEBI Regulations and shall continue to be part of Senior Management Personnel of the Company. . Saket Gupta (ACS 20687), Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company, has demitted the office of Compliance officer on January 30, 2025, under Regulation 6 of the Listing Regulations and other applicable SEBI Regulations and he shall continue to be the Company Secretary (Key Managerial Personnel) and shall also continue to be part of Senior Management Personnel of the Company. Brief profile: Mr. Ashok Kumar Jain is a rank holder Chartered Accountant, Company Secretary and LLB by profession. He is a graduate in Commerce from Shri Ram College of Commerce with 38 years of rich experience in the financial and legal industry. He started his career in 1986 and later joined Dabur Group in 1989 and since then has been at the helm of Financial Planning, Budgetary Financial Accounting, Taxation, Treasury, Corporate Governance, Mergers & Acquisitions, Audit, Forensic, Secretarial and legal matters of the Dabur group which has varied interests in Health Care, Personal Care Home Care, Foods, Insurance - Life as well as General, Food Services business etc. He has been instrumental in putting across various initiatives to improve the financial systems, particularly the Banking, Control & Audit, Governance & Risk Management Processes. He has been on the board of many companies including Universal Sompo General Insurance Company Limited, Badshah Masala Private Limited, Savencia Fromage & Dairy India Private Limited, Dabur Securities Private Limited, and Vertex Broadcasting Company Private Limited. Duyuru • Dec 26
Family Offices, PEs Reportedly Team Up for $1 Bn Stake in Haier's India Operations Some of the potential suitors have already submitted their non-binding offers for Haier Appliances (India) P. Ltd. while others are still sounding out “influential Indian business families”, including Ranjan Pai of Manipal Education and Medical Group International India Pvt. Ltd., the Burmans of Dabur India Limited (NSEI:DABUR) and the Munjal family to create combinations. Industry sources said feelers have gone out to a few other financial investors such as Blackstone, CVC Capital Partners, EQT and TA Associates. They are still exploring if they want to proceed. The business promoters are keen to use their family offices or private companies and not their listed entities for the transaction, people cited above said. Haier Appliances India is the third-largest appliances company in the country after LG and Samsung. It sells refrigerators, washing machines, televisions and air-conditioners. Even though the Chinese multinational has been looking to rope in a passive local partner who would only buy a minority 20%-49% interest, all the bidders have made it clear to the company and its advisors Citi that without a 51% stake or non-Chinese entities having a larger economic interest, Indian management and a future local listing, there is no deal. “People are very clear. This has to be like the JSW-MG Motors transaction where the Indians will have a higher ownership and the management needs to be local,” said the CEO of a large family office who is also evaluating the prospect. “Nobody will take the risk of being a junior and passive partner with a Chinese MNC.” This is in the backdrop of the ongoing geopolitical flux and rising anti-China sentiments the world over. Following the border skirmish of June 2020, the tensions escalated between Beijing and New Delhi, leading to slow approvals of all investments from that country under Press Note 3 norms. A few potential investors have also baulked at the premium valuation ask of $2.2 billion - $2.3 billion. A 51% stake would, therefore, translate into at least a billion-dollar investment. Business groups like JSW, Mahindra and Mahindra and Torrent, contract manufacturer Dixon, Guptas of Havells were also sounded out but they chose not to pursue, people cited above said. The proposed transaction will be the first step towards a local listing in future which will further localise the setup and have a wider shareholder base. It will also give a liquidity event to monetise part of their investment. However, the discussions are still preliminary and may not result in a transaction, sources said. Bigger consortiums may also get formed as the negotiations progress, they added. ET was the first to report Haier’s plans to sell a stake in the Indian business, on October 22. Emails sent to Haier India, Sunil Mittal's office, Dalmia Bharat Group, Welspun, Goldman Sachs, GIC of Singapore remained unanswered till press time Tuesday. Messages sent to Puneet Dalmia, managing director of Dalmia Bharat Group, and BK Goenka also remained unanswered. Warburg Pincus, Bain and TPG declined to comment. Duyuru • Dec 20
Dabur India Limited to Report Q3, 2025 Results on Jan 30, 2025 Dabur India Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Declared Dividend • Nov 01
First half dividend of ₹2.75 announced Shareholders will receive a dividend of ₹2.75. Ex-date: 8th November 2024 Payment date: 22nd November 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Oct 31
Dabur India to Buy Majority Stake in Sesa Care Dabur India Limited (NSEI:DABUR) on October 30, 2024 announced it is acquiring 51% in Rajkot-based Ayurvedic haircare maker Sesa Care Pvt. Ltd, at an enterprise value estimated at INR 3.15 billion - INR 3.25 billion, including a debt of INR 2.89 billion, which it said will be backed by its corporate guarantee. Two years back, Dabur acquired spices maker Badshah Masala for INR 5.875 billion. Dabur India will merge Sesa Care with itself, and pay INR 0.126 billion to private equity fund True North Managers LLP and the haircare company’s existing owner for acquiring 51% of the total paid up cumulative redeemable preference shares (CRPS) of Sesa Care, according to the deal contours. “The proposed merger brings substantial revenue and cost synergies. Dabur’s extensive distribution network, category expertise, and access to key international markets can be leveraged to grow the brand and expand its fo- otprint,” Dabur, which makes haircare brands Amla and Vatika, besides Real juices and Fem bleach, said in an exchange filing. The company said it expects the merger to be completed in 15 to 18 months, subject to approvals. The acquisition will help Dabur bolster its presence in the INR 9.00 billion Ayurvedic haircare market, where it competes with Parachute from Marico, Brahmi Amla and Almond drops from Bajaj, Hindustan Unilever’s Indulekha and Kesh King from Emami. True North holds a majority stake in Ban Labs, which makes Sesa hair oil. Sesa’s wholly-owned subsidiary in Bangladesh, Sesa Care Bangladesh, will become a wholly-owned subsidiary of Dabur post the merger. Reported Earnings • Oct 31
Second quarter 2025 earnings: Revenues and EPS in line with analyst expectations Second quarter 2025 results: EPS: ₹2.40 (down from ₹2.91 in 2Q 2024). Revenue: ₹30.3b (down 5.5% from 2Q 2024). Net income: ₹4.25b (down 18% from 2Q 2024). Profit margin: 14% (down from 16% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. Duyuru • Oct 04
Dabur India Limited Announces Management Changes Dabur India Limited announced that due to change in internal reporting structure of the Company, Mr. Dinesh Chandra Pandey, Head of R&D (Food business) and Dr. Prasun Bandyopadhyay, Head of R&D (HPC business) have ceased to be a part of the Senior Management of the Company w.e.f. October 4, 2024. Mr. Dinesh Chandra Pandey and Dr. Prasun Bandyopadhyay shall report to Executive Director - Operations instead of Whole Time Director & CEO. hence, they shall now not form part of the Senior Management Personnel of the Company on account of aforesaid internal restructuring. Duyuru • Sep 24
Dabur India Limited to Report First Half, 2025 Results on Oct 30, 2024 Dabur India Limited announced that they will report first half, 2025 results on Oct 30, 2024 Duyuru • Sep 21
Bhartias Reportedly Lead Race for Coke Bottler Hindustan Coca-Cola Beverages The Jubilant Bhartia Group promoters are leading the race to acquire a significant minority stake in The Coca-Cola Company (NYSE:KO)'s India bottling arm, Hindustan Coca-Cola Beverages Private Limited (HCCB). They have signed an exclusivity agreement with Coca-Cola to negotiate the purchase for INR 108,000 million-INR 120,000 million. This move is part of Coca-Cola's strategy to adopt an asset-light model and precedes a planned listing of HCCB. The promoters of the Jubilant Bhartia Group have emerged as frontrunners for a stake in Coca-Cola's India bottling arm, bettering an offer by the Burmans of Dabur India Limited (NSEI:DABUR), as they amp up their bet on the country's evolving consumption patterns and rising disposable income, said people with knowledge of the matter. Duyuru • Sep 14
Dabur India Limited Appoints Saurabhkumar Narendra Lal as Executive Director-Operations, Effective September 24, 2024 Dabur India Limited informed that the Board of Directors of the Company have by way of resolution by circulation, on September 13, 2024, based on the recommendation of Nomination and Remuneration Committee, approved the appointment of Mr. Saurabhkumar Narendra Lal as Executive Director - Operations in the Senior Management of the Company w.e.f. September 24, 2024 or such other date as may be deemed fit by Executive Director - HR of the Company. Mr. Lal, aged 50 years, had completed BTech in Mechanical Engineering in 1995. He has an experience of over 29 years in manufacturing operations and supply chain, and has worked with various reputed organizations such as Unilever, Avery Dennison, Future Consumer Ltd. His last role was with Kellanova (formerly Kellogg Company) as Senior Director - Supply Chain Network based at Singapore, where he was working on supply chain strategy and operations for the Asia Pacific, the Middle East, and Africa region around network design, customer service, logistics, exports and co-manufacturing. Duyuru • Sep 11
Dabur India Limited Announces the Resignation of Rahul Awasthi as Head - Operations Dabur India Limited announced that the following change in senior management of the Company: Mr. Rahul Awasthi, Head - Operations of the Company, has on July 8, 2024, resigned from the services of the Company, to pursue career outside Dabur, due to personal reasons like location preference, next organization and role offered. The resignation has been accepted on September 1 1, 2024, and cessation from services of the Company will be effective from the close of working hours of September 30, 2024. The appointment of new Head of operations shall be intimated in due course. Duyuru • Sep 02
Dabur, Jubilant Owners Bid for Stake in Coca-Cola's India Bottling Arm HCCB The Burman family of Dabur India Limited (NSEI:DABUR) and promoters of Jubilant FoodWorks Limited (NSEI:JUBLFOOD), the Bhartias, are separately closing in on a 40% stake in Hindustan Coca-Cola Beverages Private Limited (HCCB) for INR 108,000 million-INR 120,000 million ($1.3 billion-1.4 billion), said executives aware of the development. This values Coca-Cola India’s wholly owned bottling subsidiary at $3.21-3.61 billion. Parent The Coca-Cola Company (NYSE:KO) will decide if the deal will involve one or two co-investors, or if negotiations lead to creation of an investor consortium. A decision is likely by the end of this fiscal year. Duyuru • Aug 14
Dabur India Limited Announces Appointment of Rehan Hasan as Head of Sales Dabur India Limited announced that the Board of Directors of the Company have by way of resolution by circulation, i.e on August 14, 2024, based on the recommendation of Nomination and Remuneration Committee, approved: the appointment of Mr. Rehan Hasan as Head of Sales of the Company in the Senior Management of the Company, effective from August 16,2024. Mr. Rehan Hasan, aged 50 years, had completed his MBA from Aligarh Muslim University (AMU) in 1996 and subsequently worked with Dalmia Industries and Excelcia Foods (Dabur Nestle JV). He joined Dabur in August 2000 as Brand Manager. Over the years Mr. Hasan has held various commercial roles as Regional Sales Manager, Zonal Sales Manager, Head of Sales - Fern, Head of Trade Marketing in India until 2012. In 2012 he was appointed Head of Sales and Marketing for Hobi Kozmetik, Turkey where his last role was as Business Head. In 2022 he was given responsibilities for H&B Stores Limited's Business and business operations of Nepal and Bangladesh. He has been deputed as Whole Time Director and CEO of Badshah Masala Private Limited since January 2023 till August 9, 2024. Mr. Rehan possesses extensive knowledge and experience in driving business across multiple channels, with core expertise in sales, strategic decision making and building a future ready sales organization. Price Target Changed • Aug 05
Price target increased by 7.7% to ₹674 Up from ₹626, the current price target is an average from 41 analysts. New target price is 6.2% above last closing price of ₹634. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₹11.87 for next year compared to ₹10.40 last year. Duyuru • Aug 01
Dabur India Limited Approves Executive Changes Dabur India Limited approved that Ashok Kumar Jain (FCS 4311), Executive Vice President (Finance) & Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company, will demit the office of Company Secretary and Compliance Officer of the Company w.e.f. August 02, 2024, under Regulation 6 of the Listing Regulations and other applicable SEBI Regulations. He shall be redesignated as Executive Vice President (Finance) & Group Company Secretary with effective from August 02, 2024, and shall continue to form part of Senior Management Personnel of the Company. Saket Gupta (ACS 20687), Joint Company Secretary of the Company has been appointed as the Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company with effective from August 02, 2024 under Regulation 6 of the Listing Regulations and other applicable SEBI Regulations and he shall form part of Senior Management Personnel of the Company. Mr. Saket Gupta is a qualified Company Secretary, LL.B. and a graduate in commerce from Ramjas College, Delhi University with specialization in corporate governance, mergers & acquisitions and legal affairs. Having a wealth of experience spanning over 19 years, he has navigated through a diversified'array of industries such as oil & gas, hospitality, power and real estate with renowned organizations like Indraprastha Gas, Jubilant FoodWorks, Alstom Power India and Max Group. Board Change • Jul 30
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Non-Executive Independent Director Romesh Sobti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Jul 22
Dabur India Limited Announces Directorate and Committee Changes Dabur India Limited informed that the following Non- Executive Independent Directors of the Company have completed their second term in the Company on July 21, 2024 and consequently have ceased as Directors of the Company with effect from July 22, 2024. Mr. P. N. Vijay (DIN: 00049992), Mr. R. C. Bhargava (DIN: 00007620), Dr. S. Narayan (DIN: 00094081), Dr. Ajay Dua (DIN: 02318948) - He has also ceased as member of Stakeholders Relationship Committees w.e.f. July 22, 2024. Upcoming Dividend • Jul 15
Upcoming dividend of ₹2.75 per share Eligible shareholders must have bought the stock before 19 July 2024. Payment date: 07 September 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (1.4%). Reported Earnings • Jul 12
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹10.40 (up from ₹9.64 in FY 2023). Revenue: ₹124.0b (up 7.6% from FY 2023). Net income: ₹18.4b (up 7.9% from FY 2023). Profit margin: 15% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. Duyuru • Jul 01
Dabur India Limited, Annual General Meeting, Aug 08, 2024 Dabur India Limited, Annual General Meeting, Aug 08, 2024, at 15:00 Indian Standard Time. Declared Dividend • Jul 01
Final dividend increased to ₹2.75 Dividend of ₹2.75 is 1.9% higher than last year. Ex-date: 19th July 2024 Payment date: 7th September 2024 Dividend yield will be 0.9%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jun 29
Dabur India Limited to Report Q1, 2025 Results on Aug 01, 2024 Dabur India Limited announced that they will report Q1, 2025 results on Aug 01, 2024 Reported Earnings • May 03
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹10.40 (up from ₹9.64 in FY 2023). Revenue: ₹128.9b (up 12% from FY 2023). Net income: ₹18.4b (up 7.9% from FY 2023). Profit margin: 14% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.6%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year. Duyuru • Apr 02
Dabur India Limited to Report Q4, 2024 Results on May 02, 2024 Dabur India Limited announced that they will report Q4, 2024 results on May 02, 2024 Duyuru • Mar 12
Dabur India Limited Announces Resignation of Sushil Chandra as Non-Executive Independent Director and Ceases as Member of the Audit Committee, Corporate Social Responsibility Committee and Risk Management Committee Dabur India Limited announced that Mr. Sushil Chandra (DIN: 10250863) has tendered his resignation from the position of "Non-Executive Independent Director" of the Company with effect from close of business hours of March 11, 2024, as he has been appointed as Member Lokpal of India by the Honourable President of India and hence cannot continue with the Company as Independent Director. Consequent to the above, Mr. Sushil Chandra has also ceased to be member of the Audit Committee, Corporate Social Responsibility Committee and Risk Management Committee of the Company. Reported Earnings • Feb 01
Third quarter 2024 earnings: Revenues and EPS in line with analyst expectations Third quarter 2024 results: EPS: ₹2.90 (up from ₹2.69 in 3Q 2023). Revenue: ₹33.8b (up 11% from 3Q 2023). Net income: ₹5.14b (up 8.0% from 3Q 2023). Profit margin: 15% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year. Duyuru • Dec 28
Dabur India Limited to Report Q3, 2024 Results on Jan 31, 2024 Dabur India Limited announced that they will report Q3, 2024 results on Jan 31, 2024 Duyuru • Dec 20
Dabur India Limited Appoints Sushil Chandra as Independent Director Dabur India Limited informed that Shareholders of the Company by way of Postal Ballot through the remote e-voting process on the special resolution set out in the Postal Ballot Notice dated November 2, 2023, have approved the appointment of Mr. Sushil Chandra (DIN: 10250863) as director, who was appointed as an Additional Director of the Company in the category of Non-Executive Independent Director by the Board of the Company, w.e.f. November 2, 2023. Appointment for a term of 5 (five) consecutive years, w.e.f. November 02, 2023, till November 02, 2028. Mr. Sushil Chandra is a 1980 batch IRS (IT) officer. He was the 24th Chief Election Commissioner o India, hie previously served as the Chairperson of the Central Board of Direct Taxes. He completed B-Tech from Roorkee University and LLB from DAV College, Dehradun. He has also attended various trainings at IMF, Indian Institute of Management Bangalore and The Wharton School of Management. He started his career in the Indian Engineering Service. Later joined the 1980 Batch of the Indian Revenue Service. While being Chairman of the Central Board of Direct Taxes, he contributed greatly to the Operation Clean Money. Before his elevation to the position of Member, Central Board of Direct Taxes, he held the position of Director General of Income Tax, Gujarat and Principal Chief Commissioner, Gujarat. On February 15, 2019, he was appointed as the Election Commissioner of India and took office as the Chief Election Commissioner of India on April 13, 2021. He has been involved in 16 elections including five as chief election commissioner and superannuated on May 15, 2022. Duyuru • Nov 17
Dabur India Limited Appoints Abhinav Dhall as Executive Director-Group Corporate Strategy Dabur India Limited at its board meeting held on November 15, 2023 appointed Mr. Abhinav Dhall as Executive Director-Group Corporate Strategy of the Company in the Senior Management of the Company w.e.f. November 20, 2023, or such other date as mutually agreed between the Company and Mr. Abhinav Dhall. Mr. Abhinav Dhall, aged 47 years, is a graduate in Chemical Engineering from IIT Mumbai, MS in Management (Decision Science) from University of California, Los Angeles and MBA (General Management Orientation) from Harvard Business School. He has an overall experience of 23 years in Product Management, Consulting and Private Equity. Duyuru • Nov 03
Dabur India Limited Declare Interim Dividend for the Financial Year 2023-24, Payable on November 24, 2023 Dabur India Limited at its board meeting held on November 02, 2023, approved declared Interim Dividend of INR 2.75 per equity share having face value of INR 1/- each (i.e., 275%) for thefinancial year 2023-24. Pursuant to Regulation 42 of the Listing Regulations, the Company has vide its letter dated October 25, 2023 already informed to Stock Exchanges regarding the Record Date of November 10, 2023, fixed for ascertaining the name of the Members/Beneficial Owners entitled to receive the Interim Dividend on equity shares for the Financial Year 2023-24. Further, pursuant to Regulation 30 of the Listing Regulations, the aforesaid interim dividend, will be paid November 24, 2023, onwards by the Company to the Members/Beneficial Owners. Reported Earnings • Nov 03
Second quarter 2024 earnings: Revenues and EPS in line with analyst expectations Second quarter 2024 results: EPS: ₹2.91 (up from ₹2.77 in 2Q 2023). Revenue: ₹33.2b (up 11% from 2Q 2023). Net income: ₹5.15b (up 5.1% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Duyuru • Sep 26
Burmans of Dabur Make an Open Offer to Acquire 26% Stake in Religare Enterprises Dabur’s Burman family controlled entities have made an open offer to acquire up to 26% stake in Religare Enterprises Limited (NSEI:RELIGARE) at INR 235 per share. The open offer would involve total consideration of INR 21.16 billion (assuming full acceptance). Currently, the Burman family holds 21.54% stake in REL. The aggregate holding is expected to increase to 26.81% post planned additional stake buy of 5.27% at maximum price of INR 235 per share. Since their holding will go beyond 25%, the open offer is being made for additional 26%. The Burman family controlled entities that are now making the open offer and looking to take control of REL are MB Finmart Private Limited, Puran Associates Private Limited, VIC Enterprises Private Limited and Milky Investment & Trading Company. On the acquisition proposal, Anand C Burman, Chairman Emeritus, Dabur India Limited, said, “The proposed transaction is in line with our vision to create a leading financial services platform that encompasses lending, broking and health insurance services. We are convinced that REL is the right platform and positioned for sustained success. With our guidance, REL will continue its journey to being one of India’s distinguished financial services platforms”. Reported Earnings • Aug 04
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: ₹2.62 (up from ₹2.49 in 1Q 2023). Revenue: ₹32.4b (up 15% from 1Q 2023). Net income: ₹4.64b (up 5.4% from 1Q 2023). Profit margin: 14% (down from 16% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Upcoming Dividend • Jul 14
Upcoming dividend of ₹2.70 per share at 0.9% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 09 September 2023. Payout ratio is a comfortable 54% and the cash payout ratio is 94%. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.4%). Reported Earnings • Jul 06
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₹9.64 (down from ₹9.84 in FY 2022). Revenue: ₹115.3b (up 5.9% from FY 2022). Net income: ₹17.1b (down 1.8% from FY 2022). Profit margin: 15% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 9.6%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. Duyuru • Jun 30
Dabur India Limited to Report Q1, 2024 Results on Aug 03, 2023 Dabur India Limited announced that they will report Q1, 2024 results on Aug 03, 2023 Duyuru • May 05
Dabur India Limited Approves Final Dividend for the Financial Year 2022-23 The Board of Directors of Dabur India Limited have recommended Final Dividend of INR 2.70 per equity share having face value of INR 1 each (270%) for the fiscal year 2023, for approval of members of the Company in the ensuing Annual General Meeting. Reported Earnings • May 05
Full year 2023 earnings released: EPS: ₹9.64 (vs ₹9.84 in FY 2022) Full year 2023 results: EPS: ₹9.64 (down from ₹9.84 in FY 2022). Revenue: ₹119.8b (up 10.0% from FY 2022). Net income: ₹17.1b (down 1.8% from FY 2022). Profit margin: 14% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year and the company’s share price has also increased by 6% per year. Reported Earnings • Feb 05
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₹2.69 (down from ₹2.85 in 3Q 2022). Revenue: ₹30.4b (up 3.4% from 3Q 2022). Net income: ₹4.76b (down 5.4% from 3Q 2022). Profit margin: 16% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 03
Dabur India Limited (NSEI:DABUR) completed the acquisition of 51% stake in Badshah Masala Private Ltd. Dabur India Limited (NSEI:DABUR) entered into a share purchase agreement to acquire 51% stake in Badshah Masala Private Ltd. for INR 5.9 billion on October 26, 2022. The consideration will be paid in cash. For the year ended March 31, 2022 Badshah Masala recorded turnover of INR 1.9 billion. The transaction is expected to be completed on or before March 31, 2023. Dabur India has an option to acquire the remaining 49% stake in Badshah Masala in the next 5 years.
Dabur India Limited (NSEI:DABUR) completed the acquisition of 51% stake in Badshah Masala Private Ltd on January 2, 2023. Duyuru • Dec 29
Dabur India Limited to Report Q3, 2023 Results on Feb 02, 2023 Dabur India Limited announced that they will report Q3, 2023 results at 12:08 PM, Indian Standard Time on Feb 02, 2023 Duyuru • Dec 21
Burmans Reportedly Eyeing INR 8,000 Million Stake Sale in Dabur Via Block Deal Burmans eyeing INR 8,000 million stake sale in Dabur India Limited (NSEI:DABUR) via block deal. The promoters will offer up to 4% discount from the current market price for the stake in the fast moving consumer goods major. On December 19, 2022, the stock ended 1.6% higher at INR 589.05. As of September-end, the Burman family together held 67.24% stake in Dabur. Reported Earnings • Oct 27
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: ₹2.77 (down from ₹2.85 in 2Q 2022). Revenue: ₹31.1b (up 10% from 2Q 2022). Net income: ₹4.90b (down 2.8% from 2Q 2022). Profit margin: 16% (down from 18% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Personal Products industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Duyuru • Sep 28
Dabur India Limited to Report First Half, 2023 Results on Oct 26, 2022 Dabur India Limited announced that they will report first half, 2023 results on Oct 26, 2022 Duyuru • Aug 12
Dabur India Limited Announces Board Changes Dabur India Limited announced that at its board meeting held on August 11, 2022, the board accepted of resignation of Mr. Amit Burman from the post of Chairman of the Board of Directors of the company with effect from the close of working hours of August 10, 2022. Mr. Amit Burman shall continue to be the Non-Executive Director of the company. Appointment of Mr. Mohit Burman (who is currently the Non-Executive Vice Chairman of the Company) as the Non-Executive Chairman of the Board of Directors of the company for a period of 5 years with effect from August 11, 2022. Appointment of Mr. Saket Burman as the Non-Executive Vice-Chairman of the Board of Directors of the company for a period of 5 years with effect from August 11, 2022. Reported Earnings • Jul 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₹9.84 (up from ₹9.58 in FY 2021). Revenue: ₹108.9b (up 14% from FY 2021). Net income: ₹17.4b (up 2.7% from FY 2021). Profit margin: 16% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 9.9%, compared to a 11% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 9% per year. Duyuru • Jul 15
Dabur India Limited, Annual General Meeting, Aug 12, 2022 Dabur India Limited, Annual General Meeting, Aug 12, 2022, at 10:30 Indian Standard Time. Agenda: To receive the dividend. Duyuru • Jul 02
Dabur India Limited to Report Q1, 2023 Results on Aug 04, 2022 Dabur India Limited announced that they will report Q1, 2023 results on Aug 04, 2022 Reported Earnings • May 07
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₹9.84 (up from ₹9.58 in FY 2021). Revenue: ₹108.9b (up 14% from FY 2021). Net income: ₹17.4b (up 2.7% from FY 2021). Profit margin: 16% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 9.8%, compared to a 9.4% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Feb 03
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹2.85 (up from ₹2.78 in 3Q 2021). Revenue: ₹30.4b (up 11% from 3Q 2021). Net income: ₹5.03b (up 2.3% from 3Q 2021). Profit margin: 17% (down from 18% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 10%, compared to a 9.9% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Recent Insider Transactions • Nov 21
Insider recently sold ₹725k worth of stock On the 15th of November, Samrat Sehgal sold around 1k shares on-market at roughly ₹604 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹9.7m. Insiders have been net sellers, collectively disposing of ₹4.5b more than they bought in the last 12 months. Reported Earnings • Nov 05
Second quarter 2022 earnings released: EPS ₹2.85 (vs ₹2.73 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹28.2b (up 12% from 2Q 2021). Net income: ₹5.04b (up 4.7% from 2Q 2021). Profit margin: 18% (down from 19% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 23
Insider recently sold ₹9.7m worth of stock On the 17th of September, Krishan Chutani sold around 15k shares on-market at roughly ₹650 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹4.5b more than they bought in the last 12 months. Recent Insider Transactions • Sep 09
Insider recently sold ₹1.6m worth of stock On the 3rd of September, Devender Gupta sold around 3k shares on-market at roughly ₹641 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹11m. Insiders have been net sellers, collectively disposing of ₹4.5b more than they bought in the last 12 months. Recent Insider Transactions • Aug 19
Insider recently bought ₹14m worth of stock On the 11th of August, Pradip Burman bought around 25k shares on-market at roughly ₹576 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₹4.5b more in shares than they bought in the last 12 months. Price Target Changed • Aug 05
Price target increased to ₹634 Up from ₹580, the current price target is an average from 31 analysts. New target price is 7.6% above last closing price of ₹589. Stock is up 16% over the past year. Upcoming Dividend • Jul 22
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 18 September 2021. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.5%). Reported Earnings • Jul 21
Full year 2021 earnings released: EPS ₹9.58 (vs ₹8.18 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹95.5b (up 9.9% from FY 2020). Net income: ₹16.9b (up 17% from FY 2020). Profit margin: 18% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 18
Insider recently sold ₹11m worth of stock On the 16th of June, Krishan Chutani sold around 19k shares on-market at roughly ₹575 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹4.5b more than they bought in the last 12 months. Recent Insider Transactions • Jun 11
Executive Director of Operations recently sold ₹2.7m worth of stock On the 4th of June, Shahrukh Khan sold around 5k shares on-market at roughly ₹545 per share. This was the largest sale by an insider in the last 3 months. Shahrukh has been a seller over the last 12 months, reducing personal holdings by ₹5.3m. Duyuru • May 08
Dabur India Limited Recommends Final Dividend Dabur India Limited announced that Board of Directors recommended a Final Dividend of 300%. The Board has proposed a dividend of INR 3.00 per share, aggregating to INR 5,302.3 million. Reported Earnings • May 08
Full year 2021 earnings released: EPS ₹9.58 (vs ₹8.18 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: ₹98.9b (up 14% from FY 2020). Net income: ₹16.9b (up 17% from FY 2020). Profit margin: 17% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Apr 04
Insider recently sold ₹2.6m worth of stock On the 26th of March, Partho Ganguly sold around 5k shares on-market at roughly ₹529 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹4.5b. Insiders have been net sellers, collectively disposing of ₹4.5b more than they bought in the last 12 months. Recent Insider Transactions • Feb 28
Insider recently bought ₹7.5m worth of stock On the 23rd of February, Pradip Burman bought around 15k shares on-market at roughly ₹500 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹3.4m more in shares than they have sold in the last 12 months. Duyuru • Jan 31
Dabur India Limited Announces Management Changes Dabur India Limited announced that Mr. Lalit Malik, Chief Financial Officer and Key Managerial Personnel of the Company has tendered his resignation from services of the Company with effect from April 1, 2021 to pursue career outside the Company. He will continue in his current position till the close of business hours on March 31, 2021. Further, the Board of Directors of the Company in its meeting held on January 29, 2021, based on recommendation of the Nomination and Remuneration Committee and Audit Committee, have approved the appointment of Mr. Ankush Jain, presently working as Vice President, Financial Planning and Analysis in the Company, as Chief Financial Officer under the category - Key Managerial Personnel of the Company with effect from April 1, 2021. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS ₹2.78 (vs ₹2.25 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ₹28.1b (up 19% from 3Q 2020). Net income: ₹4.92b (up 24% from 3Q 2020). Profit margin: 18% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 13%, compared to a 12% growth forecast for the Personal Products industry in India. 
