Dabur to report high single digit growth in India business in Q1

livemint.com:

New Delhi: Packaged consumer goods company Dabur India said demand trends in both urban and rural India reported signs of improvement in the June quarter as inflation ebbed.  “During the quarter, trends in both urban and rural India have shown signs of improvement. One of the key contributing factors to this positive development has been the reduction in inflation.

Sequential moderation in inflation has positively impacted consumer spending power and is resulting in gradual improvement in offtakes in the industry. Dabur’s consolidated business including recently acquired Badshah Masala, is expected to register growth exceeding 10%," the company said in its June quarter updated filed to the exchanges on Thursday.  The update provides an overall summary of the performance and demand trends witnessed during the quarter ended June 30, 2023; the company is yet to file its quarterly earnings.  Meanwhile Dabur’s international business is expected to report a strong performance with double-digit growth in constant currency, the hair oil maker said.  “Softening of inflation in international markets is having a positive impact on the business.

The healthcare and home and personal care (HPC) businesses in India have performed well and are projected to achieve double-digit growth backed by mid-single digit volume growth. Within HPC, the home care category is expected to report value growth in high teens and oral and hair care categories growing in low double digits.

However, the F&B business, and in particular, the summer centric beverages portfolio, had a muted quarter due to unseasonal rains and a moderate summer," it added. Consequently, India business is expected to post growth in high single digit.  Moderating inflation is