Homegrown FMCG major Dabur has reported a seven-fold jump in its Chyawanprash range as demand for immunity boosting products has witnessed a sharp surge amid coronavirus pandemic.
Homegrown FMCG major Dabur has reported a seven-fold jump in its Chyawanprash range as demand for immunity boosting products has witnessed a sharp surge amid the coronavirus pandemic. In fact, its other products in the immunity portfolio have also seen a surge in demand, the company said, announcing its Q1 results on Thursday. “Dabur Chyawanprash reported a growth of over 694% during the quarter, while Dabur Honitus grew by over 80% while Dabur Honey ended Q1 2020-21 with a growth of over 60%,” it said. This is not the first quarter that Dabur has reported increased sales for its immunity portfolio.
Key takeaways from Q1 results
- Dabur reported a 12.3% growth in net profit at Rs 289.4 crore for quarter ending June 2020 in its standalone India business. The same has witnessed an increase from Rs 257.8 crore last year.
- The FMCG company posted standalone revenue for the quarter at Rs 1,491 crore as against Rs 1,628 crore a year ago.
- Dabur’s consolidated net profit for the quarter ending June stood at Rs 342 crore, down 5.9% from Rs 363 crore in the last year.
- The domestic FMCG company ended Q1 with a 12.9% drop in consolidated revenue from operations at Rs 1,980 crore. The same stood at Rs 2,273 crore a year earlier.
FMCG companies across the country witnessed major supply chain issues due to migrant labour exodus and lockdown. The slowdown in economic activities also caused disruptions in Dabur’s business, however, the company scaled up operations to almost normal levels in May and June 2020 after the government allowed manufacturing of essential items. “Amidst this challenging business environment, we quickly revamped our portfolio to meet the growing consumer need for quality preventive healthcare, personal hygiene and household hygiene products, while alongside enhancing production of our existing ayurvedic immunity boosters like Dabur Chyawanprash and Dabur Honey,” Mohit Malhotra, CEO, Dabur, said. During the quarter, Dabur gained market share across all key categories such as toothpaste and packaged juices, other than Chyawanprash.