DABUR / Q3-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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PositiveQ3-FY24 · 2024-01-31Back to quarter ↗

Questions audited

Answered directly

88%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Mihir Shah · Nomura

direct

What is driving hair oil outperformance and how to revive oral care growth?

In hair oil, we've gained market shares of 140 basis points... As far as oral care is concerned, our growth is 8%, backed by volume growth of 5%...

Mihir Shah · Nomura

direct

Will late winter benefit healthcare portfolio sales?

Chyawanprash business got impacted... growth was very muted. We had a flat growth as far as Chyawanprash is concerned... the winter is getting delayed... flushing out of inventory will happen there.

Mihir Shah · Nomura

partial

Are higher costs excluding one-offs the new normal?

Excluding this, this is 10%, but if you see it, there's some phasing issue of certain expenses. If you see YTD, excluding legal cost and other expenses, has grown by only 4%.

Abneesh Roy · Nuvama Institutional Equities

direct

Is shampoo growth driven by pricing or volume?

There's no price growth here. It is more volume growth. The entire growth is volume growth as far as sachet is concerned.

Abneesh Roy · Nuvama Institutional Equities

direct

What is price-mix growth in toothpaste and premiumization plans?

We've grown 8% in terms of value... volume growth has been 5%, implying that we have a 3% of price factor... We are working on premiumization segments including whitening, tartar control, gum, sensitive.

Abneesh Roy · Nuvama Institutional Equities

direct

How much of Badshah's 33% growth is pricing vs volume?

Volume is close to 20-23% in this, and balance is pricing, 9%-10%. Currently, it is primarily in two states. A bit of exports we have started.

Arnab Mitra · Goldman Sachs

direct

Why is rural growing ahead of urban for Dabur?

Our rural growth is in the range of around 6-6.5% as compared to urban, which is around 3.8%... specific to us... on back of initiatives... reach in terms of villages have moved up from 100,000 villages to 172,000 villages.

Arnab Mitra · Goldman Sachs

partial

Will Q4 margins be much lower due to phasing?

You can't see sequentially our margins. The margins are pretty seasonal. Q4 margins are the least, while Q3 are the highest... expansion in margins will continue, albeit at a slightly faster pace in Q4.

Harit Kapoor · Investec India

direct

What are key indicators for rural recovery?

Food inflation has picked up... consumer sentiment is improving... gap between urban and rural is reducing... rural recovery is imminent.

Harit Kapoor · Investec India

partial

How long will the legal issue last?

Courts have decided on corporate separateness... case is now restricted only to products sold in U.S. by Namaste legal entity... less than 1% of our turnover.

Sheela Rathi · Morgan Stanley

direct

Will legal costs reduce in coming quarters?

We have changed our lawyers... cost effective from October onwards has already reduced... we do not see the same cost will be there in FY24-25. It will be lower.

Shirish Pardeshi · Centrum Broking

direct

What is the therapeutic division's revenue and growth?

Almost 95 crore we have done so far in nine months. So 30-35 crore on average, and YTD growth is almost 21%, while Q3 is 14%.