Dabur India Q3 Results Review - Market Share Gain Continues: Dolat Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Dabur India Ltd.’s Q3 FY23 results came broadly in line with our estimate. Domestic fast moving consumer goods registered 3% volume de-growth and three-year revenue compound annual growth rate of 9.0%. Growth in the domestic market was driven by strong growth in home care business but was restricted due to sluggish performance in skin portfolio due to delayed winter. Colder winter this year is expected to drive winter related product sales in Q4 FY23E.In Q3, Dabur has witnessed demand challenges in the rural market – second consecutive quarter of rural pressure. However, the company is hopeful about the rural recovery considering incremental government spends in rural areas. We believe that the rural slowdown is in its final phase and rural performance would improve in H1 FY24E. Favorable base, government expenditure and consumer adaptability would drive rural growth.We have lowered our earnings per share estimates for FY23/24/25E by 2.6/2.2/3.0% to factor in the Q3 performance. However, we remain optimistic on the rural recovery and the company’s efforts to gain market share across categories..Click on the attachment to read the full report:.Dabur India Q3 Results: Profit Down 3%, Margin Shrinks On Inflation Woes.More Research Reports On Dabur India's Q3 FY23 Results Review.Sluggish Volume, Margin Performance; Better Pricing, Mix To Drive Recovery: SystematixWeak Rural Demand Dents Volumes; But Outlook Getting Better: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Dabur India Q3 Results Review - Market Share Gain Continues: Dolat Capital

Dabur is hopeful about the rural recovery considering incremental government spends in rural areas.

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