DABUR / Q2-FY24 / claim-ledger

Audit the questions that mattered.

Dabur · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ2-FY24 · 2023-10-31Back to quarter ↗

Questions audited

Answered directly

96%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Abneesh Roy · Nuvama Institutional Equities

partial

Home care growth drivers and Odomos market share gain details.

Home care is under-penetrated... Odomos is more out-of-home consumption... As far as our extension of Odomos into LVP is concerned, early days yet... a turnover of roughly around INR 4-5 crore is that we've got.

Abneesh Roy · Nuvama Institutional Equities

direct

Beverage business underperformance vs cola companies.

Festive season impacted us... North India got impacted by incessant rainfall... there is a new player called Storia... We are putting in a CapEx worth around INR 30-40 crores...

Abneesh Roy · Nuvama Institutional Equities

direct

Legal cost insurance coverage and industry action on Namaste case.

We have a product liability insurance... covers any claims or damages... the insurance is covering a part of the legal cost... We've incurred an expense of around INR 36 crores in the quarter... going forward... around INR 20-odd crores per quarter...

Abneesh Roy · Nuvama Institutional Equities

direct

Peak of advertising spend given volume growth.

We are still at around 7.5-8%. We think the band of advertising to sales ratio in this category should be around 8%-10%. We will continue to ramp up advertising investment...

Aditya Soman · CLSA

direct

Seasonal pickup in October for juices and Chyawanprash.

October has just gone past, and we've seen our beverage growth at around 10% odd levels in the quarter already started...

Aditya Soman · CLSA

direct

Drivers of Odonil's strong performance and market share gains.

The penetration of home care category is low... category is growing by 20%. Our entry sale is in the range of around 23%... we launched a gel pocket... doing considerable well...

Arnab Mitra · Goldman Sachs

direct

Confidence in maintaining above 20% operating margin.

We have already given a yearly guidance, and we'll maintain by around 19.5% annual operating margin... Despite the legal cost... we are pretty confident...

Arnab Mitra · Goldman Sachs

direct

Health supplements softness and second-half growth drivers.

The default came in from Chyawanprash. Because of the season shifting by 20 days... Honey continues to gain share... grew by around 6-7%... Chyawanprash actually declined at around -7%...

Arnab Mitra · Goldman Sachs

direct

Impact of legal case on Namaste sales and duration of legal costs.

There is a little bit shadow cast on the business... relaxer business is impacted... we will expedite to build non-relaxer portfolio... legal cost... around INR 20-22 crore per quarter... such multi-district litigations take invariably two years...

Shirish Pardeshi · Centrum

direct

Rural uptick and regional variations.

Rural moved to 6.7% in terms of volume... South India for us is lagging... North, with winter coming in, should pick up...

Shirish Pardeshi · Centrum

direct

Expected healthcare growth in second half.

I can't say high double digits, but maybe high single definitely... high single is what we expect...

Shirish Pardeshi · Centrum

direct

International business revenue and margin trajectory in H2.

We will expect a double-digit growth and a high double-digit growth in constant currency... gross margins improve by around 600 basis points... margin upside on gross margin will again keep trending up...