Five more Dabur brands cross ₹100 crore sales in FY23

livemint.com:

NEW DELHI : Fast moving consumer goods company Dabur India added five new brands with sales greater than ₹100 crore in FY23, the company said in its fiscal 2023 annual report released to the exchanges on Tuesday. “Today, we have a portfolio of 23 billion rupee brands, brands with sales greater than ₹ 100 crore. The year 2022-23 saw five brands joining this list.

In all, we now have 17 brands that are above ₹100 crore but lesser than ₹500 crore in size; two brands that are over ₹500 crore but less than ₹1,000 crore in size, and another four brands that have a turnover of more than ₹1,000 crore," the company said. Brands to enter the billion rupee portfolio during the last fiscal include—Honitus, Real drinks, Odomos, Dabur herb’l and Badshah spices. FMCG volumes declined across sector in India during first nine months of last financial year, the company said.

Meanwhile, companies faced high commodity prices during the fiscal that touched multi-decade highs in many countries. The inflationary environment also took a toll on consumption patterns as consumers tightened their purse-strings and consumer goods industry witnessed a slow-down, said Mohit Burman, c.hairman, Dabur India, addressing shareholders in the company’s annual report. For instance, in the year—the company experienced material inflation rate of 12%.

However, the company is witnessing a reversal in the commodity cycle, resulting in reduced prices for most of its key commodities. This allows Dabur to anticipate an expansion in gross margins for the current year, said Mohit Malhotra, whole-time director and CEO, Dabur India. “To mitigate this impact, we implemented price increases and initiated cost-saving measures.