DaburIndiaLtd

CorporateProfile
November,2010

1
1

Index
Dabur India-Introduction
FMCG Industry Scenario
Business Overview
Growth Strategy
Recent Performance

2
2

Dabur India: Key Highlights

9

Established in 1884 : 125 Years of Trust &

Excellence

Among top 4 FMCG companies in India

Worlds
W
ld llargestt iin Ayurveda
A
d and
d natural
t
l
healthcare

Revenue of Rs. 33.9 billion and profits of

Rs. 5 billion in FY2009-10

Strong brand equity

Dabur is a household brand

Vatika and Real are Superbrands

Hajmola , Real & Dabur ranked among

Indias Most Admired Brands

10 Brands with sales of over Rs. 1 billion

each

Wide distribution network covering 2.8

28
million retailers across the country

17 world class manufacturing plants

catering to needs of diverse markets

Strong overseas presence with 18%

contribution to consolidated sales

Ten Billion Rupee Brands

3
3

Strong Financials
S l
Sales
in Rs. million
40000
35000
30000
25000
20000
15000

10,997

12,004

12,849

12,356

14,170

FY01

FY02

FY03

FY04^

FY05

17,565

20,803

23,963

28,341
,

34,167

10000
5000
0

FY06*

FY07

EBITDA Margin (in %)

FY10**

in Rs. million

22.0%
20.0%

17.1%

18.0%

14.0%

FY09

Net Profit

in %

16 0%
16.0%

FY08

18.1% 18.5% 18.3%

19.6%

15.3%
13.3%

6000

4000
3000
2000

12.0%

5,032

5000

1,065

1,558

2,142

2 817
2,817

3,329

3,913

1000

10.0%

FY04 FY05 FY06 FY07 FY08 FY09 FY10

FY04 FY05 FY06 FY07 FY08 FY09 FY10

^Sales show a decline in FY04 on account of de-merger of Pharma business

*Balsara acquisition added 10% to topline in FY06
** Fem acquisition added 3.5% to topline in FY10

4
4

Key Milestones
1884

1972

1986

1994

Dr. SK Burman started

an Ayurvedic Pharmacy
in Kolkatta

The company shifted

base to Delhi from
Kolkata

Registered as Public
Limited Company

Listed on the Bombay

Stock Exchange

1998

2003

2004

2005

Professionalization
process with Burman
Family handing over
day to management

Pharmaceutical
Business de-merged
de merged to
focus on core FMCG
business

International Business
Division set up in
Dubai to focus on
overseas opportunities

Acquired Balsara
strengthening Oral
care & gaining entry
into Home care

2006

2007

2008

2010

Dabur Figured in Top

10 Great Places To
Work

Dabur ranked among

'Asia's Best Under A
Billion' enterprises by
Forbes

Acquired Fem Care

Pharma entering the
mainstream Skin care
segment

Touched US$4 billion

market cap

2010
Overseas acquisition, Hobi
Group, Turkey to strengthen
presence in MENA and
d
adjacent regions

5
5

Global Footprint
UK

Canada
U.S.

Egypt

UAE

Nepal

BDesh
Nigeria

Australia
Domestic Mfg.
Locations

Key markets
Manufacturing Facilities
Our strategy is to localize manufacturing, supply chain
and product offerings to suit consumer requirements
in each geography
6
6

Robust Distribution Network

Factory
C&FA
Stockist

(Carry & Forward Agents)

Super Stockist

Wholesalers

Institutions
& Modern
trade

Sub Stockist

RETAIL TRADE
CONSUMERS
Direct + Indirect Reach covering 2.8 Mn Retail Outlets
7
7

Research & Development Strengths

Team of scientists including
Ayurvedic doctors, Pharmacists,
Agronomists, Botanists, Tissue
Culture specialists, etc.

Strong New Product Development

9 Ayurvedic Medicines
9 Personal Care
9 Foods
F d
9 Home Care

Agronomy Initiatives

9 OTC Healthcare

9 Protecting
g endangered
g
herbs
9 Technical assistance to farmers
9 Contract cultivation of herbs

Dabur introduced more than 15 new

products/variants during FY10

9 Green House at Nepal

Dabur Research Facilities

Greenhouse at Dabur Nepal

8
8

Ayurveda The Science of Life

9 Ayurveda The core philosophy
9 Traditional Indian system of medicine
9

Ayurveda, the ancient Indian system of medicine based

on naturall and
d holistic
h li i living,
li i
derives
d i
from
f
two Sanskrit
S
k i
words - Ayu or life, and Veda or knowledge.

This Science of Life analyses the human body through a

combination of the body, mind and spirit.

Originating nearly 5
5,000
000 years ago
ago, Ayurvedic texts were
researched by Dabur in its quest for natural remedies.
Today, its application in modern life has been renewed
through the scientific research and validation undertaken
at Dabur

9 Dabur
b h
has 125
2 years experience & knowledge
k
l d
in Ayurveda
9 Successful extension of Ayurveda into personal
care and OTC healthcare
9 Riding global trend of Back to Nature

9
9

Index
Dabur India-Introduction
FMCG Industry Scenario
Business Overview
Growth Strategy
Recent Performance

10
10

FMCG Industry Snapshot

Key Highlights

FMCG Industry Size

Indian FMCG industry

around US$ 25 bn.

size estimated

at

Personal care & Food products dominate the

sector

in Rs. billion

Many categories
are currently small and
offer huge potential

FMCG Industry Size

Steady double digit growth in the sector

Growth rate (%)

Rurall India
R
I di contributes
t ib t
c. 33% off the
th overall
ll
FMCG sector.

MAT Dec
2008

MAT Dec
2009

1,023.9

1,161.1
13.4%

Source: AC Nielsen

FMCG Growth : Urban & Rural

20%

16%
12%

15%

9%

10%

5%

3%
-1%

0%

CY03
-8%

-5%

CY04

-10%

Source: AC Nielsen

10%

15%

Category-wise share of the Sector

18%
11%

12%

12%

10%

Baby Care
2%

Household Others
4%
5%

OTC Products
4%
Hair Care
8%

Personal Care
22%

1%
CY05
Urban

CY06

CY07

CY08

CY09

Fabric Care
12%

Food Products
43%

Rural

Source: AC Nielsen

11
11

India: Consumption Story

A
Aggregate
t Consumption
C
ti
across Income
I
Brackets
B
k t
in trillion, Indian Rupees, 2000

70

4x

34

Middle
Class

17
7

10

Middle Class
Source : Mckinsey Global Institute Analysis

By 2025, India is poised to become the world's fifth largest consuming country
from current position of twelfth
Note:
Annual Income (in Indian Rupees, 2000): Globals >1,000,000; Strivers =500,000-1,000,000;
Seekers=200,000-499,999; Aspirers=90,000-199,999; Deprived=<90,000
12
12

Penetration Levels: Sufficient Headroom

90%
80%
70%
60%
50%
40%
30%
20%
10%
0%

80%

77%
57%
42%

67%

59%

37%

32%
18%

Toothpaste

Shampoo

Hair Oil

Rural Penetration

Skin Cream

18%

Mosquito
Repellants

Urban Penetration

Source: Industry
y Data,, IIFL

9 Low penetration levels offer room for growth across consumption categories
9 Rural penetration catching up with urban penetration levels

13
13

Per Capita Consumption: Room for Growth

India has low per capita consumption as compared to other emerging economies
Skin Care Per Capita Consumption (in US$)

Shampoo Per Capita Consumption (in US$)

in US$

in US$
9

77
7.7

7.4

27
2.7

3
2.5

2.4

7
2

6
5
4

1.5

3.2

1.1

1.0

3
2

0.8

0.3

0.5

0.3

China

Indonesia

India

Malaysia

China

Thailand

Indonesia

India

Malaysia

Thailand

Toothpaste Per Capita Consumption (in US$)

in
US$
3.5

2.9

3
2.5

20
2.0

2
1.5
1

1.0
0.5

0.4

0.5
0

China

Indonesia

India

Malaysia

Thailand

Source: MOSL

14
14

Key Players: FMCG

USD Million

Company

Key Categories

Sales

Profit

Market Cap

Hindustan Unilever Ltd

Soaps, Detergents
Soaps
Detergents, Personal Care,
Care
Foods

4,479

538

12,011

Nestle India Ltd*

Food, Beverages, Infant nutrition

1,101

141

6,126

Dabur India Ltd

Personal, Health & Homecare,

Foods

733

108

3 659
3,659

Britannia Industries Ltd*

Biscuits

734

33

969

Colgate Palmolive (I) Ltd* Oral Care & Toiletries

364

62

2,462

Marico Ltd.

Hair care, Food, Skincare

571

49

1,639

Glaxo Smithkline
Consumer*

Consumer Health Care

412

50

1,615

Godrej Consumer

Hair Care, Soaps

438

72

2,423

Procter & Gamble^

Feminine Hygiene, personal care

166

39

1,533

Source: Published results for year ending 31.03.10

*Year ending 31.12.09
^Year ending 30.06.09

Note: Market Cap. as of 29.07.10

15
15

Dabur: Strong Presence in FMCG Categories

Category

Position

Market Share

Key Brands

Hair Care

12%

Dabur Amla hair Oil, Vatika hair oil &

Vatika Shampoos

Oral Care

13%

Red toothpaste, Babool, Meswak, Red

toothpowder

Skin Care

7%

Chyawanprash

63%

Dabur Chyawanprash

Digestives

55%

Hajmola

Fruit Juices

52%

Real Fruit Juices,, Real Activ

Honey

50%

Dabur Honey

Glucose

24%

Dabur Glucose

Dabur Gulabari, Fem, Dabur Uveda

Hair care includes Hair Oils & Shampoos; Oral care includes Toothpastes & Toothpowder; Skin care includes moisturizers,
16
face cleaning, lightening, anti ageing & other skin care products; Digestives includes herbal digestives

16

Index
Dabur India-Introduction
FMCG Industry Scenario
Business Overview
Growth Strategy
Recent Performance

17
17

Business Structure
Dabur operates through three focused Strategic Business Units
Business Unit

Consumer Care
Division

Revenue
Share

Description
FMCG portfolio comprising
distinct businesses:
Personal Care
Health Care
Home Care
Foods

four

72%

Consumer Health
Division

Range of ethical and OTC products

that deliver the age
age-old
old benefits of
Ayurveda in modern ready-to-use
formats

8%

International
Business

Caters to the health & personal care

needs of customers across different
international
markets
spanning
Middle East, North & West Africa,
South Asia, EU and US through its
brands Dabur and Vatika

18%

Note: Percentage share in revenue based on FY10 Financials ; Femcare included in Consumer Care Division

18
18

Consumer Care Division Overview

HCPD

FPD

2003-2004

Balsara

Foods

FEM

2006-2007

2007-2008

2008-2009

CCD

FPD: Family Products Division

HCPD: Health Care Products Division
Balsara and Fem were acquisitions
Foods division was a 100% subsidiary of DIL
Category-wise Share of CCD Sales
Home Care
6%

Foods
16%

Hair Care
29%

CCD Sales - Historical

in Rs. million

Skin
Care
6%
Digestives
8%
Health
Supplemen
ts
17%

Oral Care
18%

Note: Percentage share in revenue for H1 FY11

19
19

Brand Architecture
9 Starting from Ayurveda, the company successfully ventured into herbal
arena becoming the Herbal Specialist
9 While herbal businesses form the core with 85% of revenues,, the
companys growth ambitions are not limited by it.
9 A robust brand architecture ensures that the core values remain intact
Brand Architecture
Herbal Space

Dabur
Herbal
H lth
Healthcare

Vatika
Premium
Personal
Care

Hajmola
Tasty
Di
Digestives
ti

Rs 17.0 bn Rs 3.9 bn Rs 1.4 bn

Natural / Non-herbal Space

Uveda
Ayurvedic
Ski care
Skin

Real
Fruit
B
Beverages

Balsara
FEM
Home Care Fairness Skin
solutions
l ti

NA

Rs 3.0 bn

Rs 1.3 bn

Rs 1.0 bn

Brand size pertains to FY2008-09 sales in India and overseas; Fem had sales of about Rs.30 mn in overseas markets in FY09

20
20

Consumer Care Categories

Hair Oil
Key Brands

Market Share
7%
37%

16%
3%

6%
31%

Bajaj

Dabur

Dey's Medical

Emami

Marico

Others

Dabur Amla:
Largest brand in
the portfolio

Value Share-ACN June, 09

Vatika: Value added

coconut oil

Anmol Hair Oil:

Value proposition

Shampoo
Key Brands

Market Share
13.5%

11.2%

6.0%

23.8%
45.5%

Cavinkare

Dabur

P&G

Others

HUL

Vatika range
of shampoos

Value Share-ACN Mar, 10

21
21

Consumer Care Categories (Contd.)

Oral Care
Key Brands

Market Share
14.3%
13.2%
49.7%

22.8%
Colgate

HUL

Dabur

Others

Value Share-ACN March, 2010

Dabur Red: Toothpaste

& Toothpowder

Babool: Targeted at
economy segment

Meswak: Premium
therapeutic
toothpaste

Health Supplements
Key Brands
d

Chyawanprash Market Share

5.6%
7.9%

11.1%

12.7%

62.7%

Baidyanath
a dya a

Dabur
abu

Emami
a

Value Share-ACN March, 2010

Zandu
a du

Otherss
O

Dabur Chyawanprash:
Largest selling health
supplement in the
country

Dabur Glucose:
2nd largest
player in the
country

Dabur Honey: Largest

branded honey in the
country; growing
category through replace
sugar strategy
22
22

Consumer Care Categories (Contd.)

Foods
Key Brands

Market Share
13.0%

52.0%

35.0%
Dabur

Pepsi

Others

Company Est. Mar, 2010 for Fruit Juice category

Real: Flagship
beverages brand

Real Activ: Range

of 100% pure juice

Skin Care
Key Brands

Market Share*
18.0%

58.9%

3.2%
6.4%

6.6%
6.8%

Hindustan
Hi
d t LLever
Loreal

Emamii
E
Cavin Care

Dabur
D
b
Others

*Company estimates; Includes Fem skin care portfolio

Gulabari range of rose based skin care

products: Moisturizer, Face freshener
& Rose water

Fem Skin care :

Acquired recently
23
23

Consumer Care Categories (Contd.)

Digestives
Key Brands

Market Share
37%

55%

8%
Hajmola

Satmola

Hajmola:
H
j
l Fl
Flagship
hi b
brand
d
for branded Digestives

Others

Hajmola
H
j
l ttasty
t
digestive candy

Value Share-ACN March, 2010

Home Care
Key Brands

Air Fresheners Market Share

20%

26%

20%

5%

30%
Odonil

Air wick

Premium

Ambipur

Others

Value Share-ACN March, 2010 for Aerosols category

Odonil: Air freshner

range: Largest brand
in the portfolio

Odomos: Mosquito
repellant skin cream

Sanifresh:
Toilet cleaner
24
24

Consumer Health Division

CHD Structure

Description

9 CHD: Repository of Daburs Ayurvedic

Healthcare knowledge
9 Plans underway to build a comprehensive
strategy for a greater push in OTC Health
space
9 Range of over 260 products
9 Focusing on multiple therapeutic areas.
9 Distribution
coverage
of
200,000
chemists, ~12,000 vaidyas & 12,000
Ayurvedic pharmacies

OTC (64%)

ETHICAL (36%)

9 Generics

9 Tonic

9 Branded Products

9 Classicals
9 Branded Ethicals

Healthcare Focus

9 OTC Healthcare is Rs.130 billion size

industry
9 Expected to grow at 14-15% p.a. as
preference for Over-the-Counter products
accelerates
9 Dabur to expand its presence by :
9 Consolidating / expanding current
portfolio
g
new
products
p
in
9 Launching
emerging therapeutic areas
9 Look at inorganic opportunities

Herbal Cough & Cold

Syrup

Mint based medicine for digestion

Promoting Dabur Ayurveda: Generating

equity for Ethical portfolio

25
25

OTC Health Care Portfolio

Gastro Intestinal

Cough and Cold

Honitus

Pudin
Hara

Womens Health

Rejuvenation

Memory Enhancer

Shilajit

Medicated Oils

Shankha
Pushpi

Dabur
abu
Active
Blood
Purifier
Baby Care

Badam Tail

Rubs and Balms

Dabur
Balm
Strong
26
26

International Business Division

Started as an
Exporter
Focus on Order
fulfillment through
India Mfg.

1980s

Set up a franchisee at
Dubai in 1989
Demand generation
led to setting up of
mfg in Dubai & Egypt

Renamed franchisee as Dabur

International Ltd
Local operations further strengthened
Set up new mfg facilities in Nigeria,RAK
& Bangladesh

Building scale
scale-20%
20% of
overall Dabur Sales (FY09)
High Levels of Localization
Global Supply chain

2003 Onwards

Today

Early 90s

Highlights

Dabur s overseas business contributes 18%

Daburs
to consolidated sales led by CAGR of 29% in
last 6 years
Focus markets:
GCC
Egypt
Nigeria
Bangladesh
Nepal
U.S.
High level of localization of manufacturing
and sales and marketing
Leveraging the Natural preference among
local consumers to increase share in personal
g
care categories
Sustained investments in brand building and
marketing

High Growth in IBD

in Rs. million

New products
N
d t contributing
t ib ti
significantly to overseas sales

27
27

International Business Product Portfolio

Existing Products
Hair Oils

NPDs and Relaunches

Vatika Shampoos

Vatika Conditioners

Vatika Hamam Zaith

Hair Fall Control

Dabur Herbal Toothpaste

Hair Creams

Hair Treatments

Vatika Hair Oil

Vatika DermoViva Soaps

28
28

Index
Dabur India-Introduction
FMCG Industry Scenario
Business Overview
Growth Strategy
Recent Performance

29
29

Growth Strategy
EXPAND

DABUR
INDIA
LIMITED

ACQUIRE

INNOVATE

THREE PRONGED STRATEGY FOR SUSTAINING GROWTH

30
30

Expansion Strategy
Strengthening new categories
9 Skin Care: Ayurvedic skin care
range under a new brand
launched; Acquisition of Fem
9 OTC H
Healthcare:
lth
L
Leveraging
i
Ayurveda knowledge for a
range of OTC herbal products
9 Fruit Drinks and Culinary:
Entry into the fast growing fruit
drinks category leveraging the
Real franchise

Targeting inorganic
opportunities
9 Market Entry: Acquisitions
critical for building scale in
existing
i i
categories
i & markets
k
9 Synergies: Should be
synergistic and make a good
strategic fit
9 Geographies: Opportunities in
focus markets

Strong innovation programme

9 Contribution: New products to
contribute 5-6% of revenues
9 Focus Categories: New
product activations planned
p
p
up
p
in all categories
9 Renovation: Periodic brand
renovations to keep older
products salient

Expanding across geographies

9 Overseas markets: 20% of
overall company; target to
sustain higher growth rates
South India:
d a Increased
c eased
9 Sout
contribution from 7% to 12%;
Continued focus on the
relevant portfolio to grow
contribution

31
31

Acquisition of Hobi Group, Turkey

9 Acquisition of Hobi Group, Turkey for a total
consideration of US$ 69 Million completed on
October 7, 2010
9 This is Daburs first overseas acquisition
9 Hobi manufactures and markets hair, skin and
body care products under the brands Hobby
and New Era
9 Product
range
of
the
company
complementary to our product range

is

9 Acquisition provides an entry into another

attractive emerging market and a good
platform to leverage this across the region

32
32

Index
Dabur India-Introduction
FMCG Industry Scenario
Business Overview
Growth Strategy
Recent Performance

33
33

Financial Performance H1 and Q2 FY 2010-11

Sales: H1FY11 v/s H1FY10
in Rs. Crores

1,628

2000

1,905

1500
1000
500
0

H1FY10

Sales: Q2FY11 v/s Q2FY10

in Rs. Crores

1200
1000
800
600
400
200
0

855

Q2FY10

H1FY11

980

Q2FY11

Sales for H1FY11 increased by 17% and by 14.7% in Q2 FY11 primarily

driven by volumes
PAT: H1FY11 v/s H1FY10
in Rs. Crores

300

PAT: Q2FY11 v/s Q2FY10

in Rs. Crores

228

267

200

200
150

139

160

100

100

50

H1FY10

H1FY11

Q2FY10

Q2FY11

PAT increased by 16.9% during H1 FY11 and by 15.4% in Q2 FY11 despite

input cost inflation and increased taxation
Note: PAT refers to Net Profit after Minority Interest

34
34

Stock Performance & Shareholding Pattern

Market Capitalization in Rs. billion

Shareholding Structure*

170

FIIs, 16.4
FIIs
16 4
%

Banks/FIs/
Insurance
Cos., 6.9%

17

Indian
Public and
Others, 7.0
%
Prom oters,
68.7%

Mutual
Funds, 0.9
%

2001

2010
*As on October 22, 2010

Dabur s market capitalization has increased tenfold since 2001 and it has been
Daburs
one of the biggest wealth creators in the FMCG industry in this decade

35
35

Consolidated P&L Q2 FY11 and H1 FY11

In Rs.
I
R crores
Q2FY11 Q2FY10 YoY
Y Y (%)
Gross Sales
980.5
854.8 14.7%
Less: Excise Duty
7.7
7.0
Net Sales
972.8
847.8 14.7%
p
g Income
10.1
6.3
58.9%
Other Operating
Material Cost
458.5
381.8
20.1%
% of Sales
46.8% 44.7%
Employee Costs
77.9
72.2
7.8%
% of Sales
7.9%
8.4%
Ad Pro
121.5
120.2
1.1%
% of Sales
12.4% 14.1%
Other Expenses
112.1
98.4
13.9%
% of Sales
11.4% 11.5%
Other Non Operating Income
67
6.7
73
7.3
-9
9.0%
0%
EBITDA
219.6
188.9 16.2%
% of Sales
22.4% 22.1%
Interest Expenses
4.6
6.0 -23.6%
Depreciation
14.2
12.5
14.0%
Amortization
4.7
1.4 230.1%
Profit Before Tax (PBT)
196.0
169.0 16.0%
Tax Expenses
35.6
28.6
24.4%
Provision for Taxation for Earlier years
0.1
PAT(Before exceptional item)
160 4
160.4
140 3
140.3
14 4%
14.4%
% of Sales
16.4% 16.4%
PAT(After exceptional Items)
160.4
140.3
14.4%
PAT (After Extraordinary item & MI)
160.4
139.0 15.4%

H1 FY11 H1FY10 YoY

Y Y (%)
1,904.8 1,628.4 17.0%
15.6
12.4
1,889.3 1,616.1 16.9%
18.7
11.1
67.9%
893.1
744.1
20.0%
46.9%
45.7%
150.7
135.9
10.9%
7.9%
8.3%
272.2
242.8
12.1%
14.3%
14.9%
233.7
202.2
15.6%
12.3%
12.4%
13 9
13.9
13 7
13.7
1 8%
1.8%
372.2
316.0 17.8%
19.5%
19.4%
9.1
12.2 -26.0%
27.7
24.1
14.8%
5.7
2.7 108.4%
329.7
276.8 19.1%
61.9
47.4
30.6%
0.2
267 8
267.8
229 2
229.2
16 8%
16.8%
14.1%
14.1%
267.8
229.2
16.8%
267.1
228.5 16.9%
36
36

Consolidated Balance Sheet Sept 30, 2010

In Rs.
Rs crores

As on Sept 10

Sources Of Funds
Shareholders' Fund:
Share Capital
Reserves & Surplus
Minority Interest
Loan Funds:
Secured Loans
Unsecured Loans

174.1
1,037.5
1,211.1
4.5
99.7
235.3

Deferred Tax Liability

TOTAL
Application of funds:
Fixed Assets:
Investments
Current Assets, Loans & Advances
Inventories
Sundry Debtors
Cash & Bank balances
Loans & Advances
Less: Current Liabilities and Provisions:
Current Liabilities
Provisions
Net Current Assets
Miscellaneous Expenditure
TOTAL

As on Sept 09

86.6
690.7
777.2
8.3
113.3
54.1

335.1
13.0
1,564

167.4
10.1
963

704.6

622.1

148.8
568.3
216.6
400.8
504.1

1,689.8
595.5
483.6
1,079.1
610.7
99.9
1,564

112.1
449.1
219.5
137.7
341.4

1,147.7
573.2
353.5
926.7
221.0
7.9
963 37
37

Accolades

Ranked 25th most

valuable brand in the list
of India's
India s 100 Most
Valuable Brands, by 4Ps.

Dabur India Ltd has been

awarded the Top Marketer
Award for 2009 in the
Consumer Goods category
by Pitch magazine

Listed in Forbes 200

Best Under-A-Billion
Companies List

Dabur India Ltd was

ranked the Business
Leader in the FMCG Personal Care Category at
the NDTV Profit Business
Leadership Award 2008

Ranked 79th in 'Super 100'

list announced by Business
India

Ranked 182 in ET-500, the

annual listing of India's Blue
Chip companies by The
Economic Times.
Also ranked as the fourth
l
largest
t pure-play
l
FMCG
company in the list.

Ranked 28th in ET-Brand

Equity Most Trusted
Brands 2009 list.

Voted as the fourth Most

Liked Health Brand in the
country in consumer
survey conducted by
'Complete Wellbeing'
magazine

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38

Disclaimer
This presentation has been prepared by Dabur India Limited (Dabur or Company) for
informational purposes only and should not be used as a basis for any investment and any
investment related decisions/ analysis.
No representation
N
t ti
or warranty,
t express or implied
i
li d is
i made
d as to,
t and
d no reliance
li
should
h ld be
b placed
l
d
on, the fairness, accuracy, completeness or correctness of such information or opinions contained
herein. The information contained in this presentation is only current as of its date. Certain
statements made in this presentation may not be based on historical information or facts and may
be forward looking statements, including those relating to the general business plans and
strategy of Dabur, its future financial condition and growth prospects, future developments in its
industry and its competitive and regulatory environment,
environment and statements which contain words or
phrases such as will, expected to, horizons of growth, strong growth prospects, etc., or similar
expressions or variations of such expressions. These forward-looking statements involve a number
of risks, uncertainties and other factors that could cause actual results, opportunities and growth
potential to differ materially from those suggested by the forward-looking statements.
In no event shall the Company be liable for any direct, special indirect or consequential damages,
or any other damages of any kind, including but not limited to loss of use, loss of profits, or loss of
data, whether in an action in contract, tort (including but not limited to negligence), or otherwise,
arising out of or in any way connected with the use of this presentation or the materials contained
in, or accessed through, this presentation.
No person is authorized to give any information or to make any representation not contained in
and not consistent with this presentation and,
and if given or made,
made such information or representation
must not be relied upon as having been authorized by or on behalf of Dabur. This presentation
cannot be copied and disseminated in any manner.

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39

Investor Relations
Dabur India Ltd
Contact:+91-11-42786000

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