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Business Environment?

through the challenges of the current

National Case Study Contest

The case deals with Daburs strategy and business plan towards achievement of its Vision 2010. Introduction On 29th March 2006, Mr. Sunil Duggal, CEO Dabur India Limited unveiled Daburs four year strategy and business plan which envisions doubling the turnover and net profit by the year 2010. Christened Vision 20101, this announcement came on the back of successful completion of the previous four-year business plan. The timing marks the end of our previous four year business plan that was crafted for the year 2002-06 and comes to an end with this fiscal...We expect to double our sales and profits by the end of fiscal 2009-10 with this plan said Mr. PD Narang, Group Director2. Background The company traces its origins to 1884, when Dr SK Burman set up Dabur as a proprietary firm for the manufacture of Ayurvedic drugs. Dr Burman set up the firm with a goal of meeting the healthcare needs of poor Indians. Initially the company marketed an allopathic drug, Plagin, to combat the then prevalent epidemic of plague. With growing demand, Dr Burman established a manufacturing plant in Kolkata in 1896, and Dabur became the first company to mass-produce Ayurvedic formulations under modern scientific methods. In 1940, Dabur entered the domain of personal care with the launch of Dabur Amla Hair Oil. In 1949, the company introduced Dabur Chyawanprash, the first branded restorative in a packaged form. The company expanded its product portfolio by adding oral care products in 1970. The year 1972 witnessed a shifting of operations from Kolkata to Delhi. Over the next decades, the company saw its portfolio expanding through introduction of new products and categories. At the turn of the millennium, Dabur staged a turnover of Rs.1000 crore.

Exhibit 1: Timeline of Key Events 1884 1896 1940 1949 1994 1995 1996 2000 2003 2004 2005 Birth of Dabur First Production Unit Launch of Dabur Amla Hair Oil Launch of Dabur Chyawanprash Raises First Public Issue Launch of Vatika Range Launch of Real Juice Crosses Rs 1000 crore Turnover Demerger of Pharmaceuticals Business Promotion of 5 Power Brands Acquisition of Balsara Group of companies

Exhibit 2: Snapshot of Topline Growth Since 1980

Dabur Pharma was part of Dabur India till 2003;Pharma demerged into a separate company in 2003-04 Figures in Rs Crore

In the year 2002-03 Dabur laid down its long-term plan of transforming to a focused and transformed FMCG player. Accordingly, a four-year strategy, Vision I 3, was crafted, which targeted sales of Rs 2000 crore by the year 2006. Execution of Vision I: 2002-06 In order to operationalise and execute Vision-I, Dabur took a number of incremental and transformational initiatives. One of the first moves by the company in its journey towards becoming a focused FMCG player was to demerge its pharmaceuticals business as a separate entity- Dabur Pharmaceuticals Ltd. Within the FMCG space, Daburs blueprint involved developing and implementing marketing initiatives based on a clear strategic plan with restructured brand architecture, continuously introducing a stream of new products and creating a niche for the company in the FMCG segment based on the herbal and natural products segment. Brand Architecture Dabur realized that whilst rejuvenation of old brands, innovations and new product launches were key for achieving its growth targets, the immediate priority was

streamlining the brand architecture. The flagship brand Dabur, actually operated at three distinct levels- the companys corporate brand identity, the mother brand for a whole range of products and also percolated to individual product names. With the word having several different meanings, the brand message was not getting clearly communicated to the consumers. Realizing that one brand cannot straddle so many categories, we decided to adopt a key brand strategy4, said Mr. Duggal. This strategy, directed towards creating differentiation amongst products, lead to the adoption of 5 master brands. It was decided that whilst Dabur, the flagship brand, would stand for healthcare products, Vatika and Anmol would be the master brands for the personal care portfolio. Most of the diversification into new product categories, such as skin care, was planned under these brands. Vatika was positioned as a herbal beauty brand with a premium image and Anmol was a mass market, value for money brand. Hajmola was positioned as a tasty digestives brand, and Real was to be the umbrella brand for juices and food, aimed at upmarket urban consumers. The company thus rationalized its earlier portfolio of over 20 brands. Once the overall brand architecture was established, a well-calibrated mix of products was placed under each brand. However, Daburs brand equity had to become more cohesive and in sync with the new brand architecture. In early 2002, Dabur had undertaken a study in association with consulting firm Accenture, to understand its brand equity. The key finding: Daburs brand perception was of a herbal specialist. The herbal segment was one of the fastest growing in FMCG sector and could be leveraged across both, urban and rural markets. However, in the past Daburs products had come to be associated with the 35 plus age group. With almost half the countrys population in the below 30 years age bracket, the company ran the risk of missing the next generation consumers. These factors created the impetus for re-visiting the corporate identity. According to Mr.Duggal, While the current logo has been with Dabur for years, we now felt the need to contemporise it
Exhibit 3: Change in Corporate Identity

and make it more relevant5.

At the same time it was also important to maintain continuity with the banyan tree that was so closely identified with Dabur. The new identity modernizes the 100 year old equity of Dabur, both as a company and as a brand 6, said Mr. Devendra Garg, EVP Marketing. The new logo- the tree with a younger look in form and colours was also in sync with the new brand essence Celebrate Life. Each element of the identity was crafted to convey a relevant message. The burst of leaves signified growth, vitality and rejuvenation. The dual colours reflected the combination of stability and freshness. The form of the trunk mirrored three people raising their hands in exultation. Whilst the broad trunk represented stability, the multiple branches represented growth. The soft orange color of the trunk was selected for its message of warmth and energy. Thus, through its form and colours, the new logo combined stability and freshness and expressed a positive, proactive and progressive brand. Consumer Care Division Along of with the was contemporary the new
Hair Care

Exhibit 4: Product Portfolio-CCD, 2006 Category Products*

Amla Hair Oil, Amla Lite Hair Oil, Anmol Sarson Amla, Vatika Hair Oil, Vatika Anti Dandruff Shampoo, Vatika Henna Conditioning Shampoo, Anmol Natural Shine Shampoo, Anmol Silky Black Shampoo Dabur Lal Dant Manjan, Dabur Red Toothpaste, Dabur Red Gel, Babool Toothpaste, Meswak Toothpaste, Promise Toothpaste, Binaca Toothbrush

identity came other changes. One area change two and organization the family structure. Prior to 2003, Dabur operated through products the divisions-

Oral Care

healthcare in

products marketing,

divisions. However in 2003, considering commonalities distribution, retailing and sales, the company decided to merge them as one. This division- now referred to as Consumer Care Division (CCD)

Dabur Chyawanprash, Dabur Health Chyawanshakti, Dabur Honey, Dabur Supplements Glucose Dabur Hajmola tablets, Hajmola Candy, Hajmola Candy Fun 2, Digestives Hajmola Yumstick, Hajmola Mast and Masala, Anardana, Dabur Hingoli, Confectionary Pudin Hara Pearls, Pudin Hara Liquid, Pudin Hara G Skin Care and Baby Care Home Care Dabur Lal Tail, Dabur Baby Olive Oil, Dabur Janma Ghunti, Gulabari, Vatika Fairness Face Pack, Vatika Honey and Saffron Soap Odonil, Odomos, Sanifresh, Odopic

consists of a diverse product portfolio and contributes the largest share to Dabur Indias top line.

Having established the new brand architecture and logo, the Consumer Care Division turned its focus on further growing the business. In the personal care product range, the focus was to grow faster than the market, whilst in healthcare products, being the market leader, Dabur decided to drive the market growth. One of the key strategies of the company was to enter new categories and to innovate new product offerings. Over the four years, the company entered a number of new categories such as toothpastes, soaps and skincare. The strategic focus on new product development yielded benefits, as new products contributed about 42 per cent of CCDs growth during the period 200206.

Exhibit 5: Category Contribution to CCD Portfolio, 2003-06

Throughout the period 2002-06, the CCD brands got sustained support from aggressive advertising campaigns. The CCD brands adopted a successful strategy of communication through focused positioning and celebrity endorsers such as Amitabh Bachchan, Rani Mukherjee, Virender Sehwag and Vivek Oberoi. To support its

marketing strategies, CCD needed to streamline and strengthen its sales and distribution. In 2002, the company already had one of the largest distribution networks in the country. However, it decided to further increase its penetration, reach and efficiency. This was achieved by covering towns where the company did not previously have a presence and by increasing direct coverage in present coverage towns. An analysis of the region-wise sales data revealed a significantly low contribution of the southern region (7 per cent) to the CCD portfolio. This was in contrast with the 25-26 per cent contribution of southern states to the overall FMCG market. The company viewed this comparatively low contribution as an opportunity. As Mr. Duggal later said, A clear way to grow for us was to focus on the southern states 8. With this background, in 2004, a separate south India focused, marketing team was established with the mandate of increasing contribution from south. Considering Daburs traditional focus on north and east regions, coupled with the high level of FMCG competition in the southern states, this was a challenging task. To meet this challenge, the south marketing team adopted a phased approach. Its initial focus was on improving ground level practices such as point of sale promotion and better stocking practices. The second phase was to involve customized packaging and commercials; and the third stage envisioned customized product launches. Though all the phases of implementation were not completed within Vision I timeframe, the dedicated efforts and implementation of the first two phases resulted in increasing the contribution of south markets from 7.1 per cent in 2003-04 to more than 10 per cent in 2005-06. Consumer Healthcare Division In 2004, second phase of organizational restructuring was undertaken and another division -Consumer Healthcare Division (CHD) 7- was created. This division housed the Ayurvedic healthcare products of Dabur. The increasing consumer preference for holistic, Ayurveda-based, health remedies indicated high growth potential for this business. Further, the business was woven around the Ayurveda platform and therefore, given the strong Ayurvedic origins of Daburs brand equity, it constituted a major focus area for the company.

Dabur realized that there was a growing trend towards self-medication. The inadequate healthcare facilities, absence of public health cover and low regulatory control lead to a higher propensity for self-medication amongst Indian consumers. Looking at this opportunity, it was decided that in addition to the prescription based ayurvedic medicines, the over-the counter (OTC) business would be included in CHD. Advertised OTC and value added OTC products were envisioned as key growth drivers for the division. Several categories, such as pain relief, stress management, cough and cold, were identified as high opportunity OTC categories. However, to operate in this segment, the division needed to enhance its product portfolio as well as its OTC capability. The division had a varied product portfolio, comprising pure grantha based products, which can be broadly classified into OTC products, branded ethicals and generics, including Asavs and Classicals. The company added brands such as cough and cold brand Honitus (acquired from Dabur Pharmaceuticals Ltd), isabgol brand Nature Cure and memory enhancer Shankhpushpi. To build OTC capability, the division decided to focus on pharmacy distribution, selling & merchandising, healthcare professional endorsement, media and trade promotions- all aiming at taking Ayurveda to the patient. The business expanded its distribution network to cover urban pharmacy outlets and restructured its sales organization to optimize sales and productivity. Developing strong trade relations with retail pharmacists, promoting merchandising, creating in-shop promotion and stressing on pharmacist education supported the distribution network. The division also decided to aggressively pursue the healthcare professional endorsement route. This strategy was based on two key reasons. Firstly, healthcare professionals play an influencer role, which has a significant impact in driving consumer choice for self-medicated brands. Secondly, a large part of the OTC sales are repeat self-medication purchases, based on earlier prescription history. In addition to supporting the OTC products, this endorsement supported classical and branded ethical products as well. CHD adopted the route of seminars, exhibitions, events and health camps to build healthcare professional endorsement.

The renewed focus yielded results by the end of 2006. In the year 2005-06, CHD registered a 37.8 per cent growth in sales. This was a milestone achievement when compared with a CAGR of 8 per cent in the previous five years. Dabur Foods

Year 2003-04 2004-05 2005-06

Sales (Rs Crore) 95.9 107.8 148.6

Dabur Foods, a wholly owned subsidiary of Dabur India Limited operates on the naturals platform with a product portfolio consisting mainly of fruit juices, cooking pastes, sauces and items for institutional purchase. The business has separate sales and marketing teams, while most other functions are shared with its parent concern. In 2002, the companys flagship product, the Real range of juices had emerged as the leader in the natural juices market. The marketing and packaging strategy of the Real brand, primarily targeted at mothers and children, was based on the concept tastes like eating a fruit. Over the next four years, a continuous growth thrust was provided to the brand through new variant launches. As a result, by the end of March 2006, 9 different flavours were available under the brand. During 2004, the company realized a need to clearly position its offerings and put in place a well-segmented product strategy. This resulted in three distinct brands across the fruit juice category-Real, Activ and Coolers- with each occupying a distinct positioning.
Exhibit 6: Competitive Profile-Juices

The Real brand of juices offered a sweetened product range. This product offering did not allow the company to reach an important section of consumers- the health conscious young adults. To cater to these consumers, Foods launched an unsweetened juice, Real Activ.

According to Mr. Sanjay Sharma, GM Sales and Marketing, Dabur Foods, We wanted to tap the fitness crazy young consumers9. This product was positioned as a premium product. The entire marketing mix was customized for Real Activ, helping it secure a niche in the juices market, distinct from its parent brand Real. The product saw constant innovations to support its growth. In 2003, the range of Real Activ was enhanced by the introduction of fruit veggie range, a mixture of fruit and vegetable juices. Further, in 2004, a 330ml pack was also introduced. Traditionally the smaller, single serving pack size in this category is 200ml. However, taking into consideration the target group of 1835 year olds, the management realized that 330 ml would be a more appropriate quantity to derive the nutritional value from a single serving. Similarly, innovations were also seen in the Real Brand. In 2004 the company introduced Real Junior- 125 ml packs targeting school going children, and in 2005 Mango Twist- a mango based drink was launched. The various marketing initiatives helped Real maintain its market leadership at 57 per cent of the branded juices market (Apr Dec 2005). However, both Real and Activ were not catering to the economy segment of the market. Accordingly, a new product, Coolers was launched. The Coolers range consisted of drinks based on traditional Indian formulations, which have a cooling effect on the body. In 2003, Dabur Foods recognized an important channel of sales, namely institutional sales. This channel catered to institutions such as hotels, restaurants and airlines. In addition to the existing products, a separate brand -Natures Best, consisting of products such as corn powder and ketchup, was launched specifically for this channel. A dedicated organization, Food Services, was also set up to cater to the institutional channel and by the end of financial year 2005, this division was already contributing 25 per cent of Dabur Foods turnover. In 2004, the company realized the need of streamlining manufacturing and procurement processes to improve efficiencies and maintain margins in foods- a competitive, tight margin business. At the close of March 2006, the company had three manufacturing facilities: Nepal- its traditional supplier, Siliguri- to process fruit pulp and Jaipur- for blending and packaging.

In addition to the domestic markets, Dabur Foods decided to look across borders for business opportunities. In 2005, DFL made a major foray into international markets, exporting bulk products (primarily to Middle East and Europe) and branded products (primarily Australia and also Middle East). The business recorded a turnover of Rs 14.7 crore and received one star export house certification. International Business In 2003 the company decided to re-look its strategy with a global perspective. According to the management, the company was well positioned to develop existing markets and enter new markets, by leveraging the herbal platform. In order to aggressively target international markets, the international operations were reorganized and an umbrella organization, Dabur International Limited, based at Dubai, was created to provide focus and structure.

Exhibit 7: Overseas Contribution to Financials

Domestic 2005-06 Sales

Overseas 2005-06 216.1 11.4% 18.6 8.2% 2004-05 181.2 11.8% 8.5 5.4%

In 2004, the company formulated a structured strategy for its international foray. Firstly, it identified 20 focus countries- where it would set up manufacturing and/or group marketing included presence. This

2004-05 1355.7 88.2% 148.5 94.6%

1683.5 88.6% 208.0 91.8%

% of total Net Profit


countries such as Pakistan, Egypt and Bangladesh. Just as the strategy was multi pronged and varied across geographies, so was the performance.

% of total

For instance, in 2005-06, while Egypt and Bangladesh recorded sales growths of 49 per cent and 54 per cent respectively, the performance of USA, also a focus market, was below expectations. By the end of 2006, Dabur had established 7 manufacturing units overseas. The business registered a significant presence in the Dabur stable by contributing 11 per cent of sales for the period 2005-06.


Leveraging Internal Efficiencies While Dabur was undertaking a number of initiatives directed at topline growth, it could not afford to neglect the bottomlines health. According to Mr PD Narang, We are a bottomline-driven and not a topline-driven company10. In 2002, Dabur identified supply chain management as a critical area requiring attention. Supply management integrates a wide range of functions encompassing procurement, production scheduling and primary distribution. The range and complexity of Daburs business posed a challenge for efficient supply chain management. The company marketed over 600 SKUs through 2100 stockists and over 6,00,000 retail outlets. The complexity was exacerbated by the seasonal nature of some products. from a wide base of vendors. As a first step, the company consolidated its sourcing base to benefit from economies of scale. The company engaged FreeMarkets (now Ariba), a leading e-procurement service provider to leverage e-sourcing. By 2004 the company had moved more than 50 per cent of its procurement to e-sourcing. In the year 2004, a supply chain program, Project Garuda, was also undertaken to reduce raw material and finished good inventories, improve service levels and optimize network efficiencies. According to Mr. Duggal, Project Garuda is expected to improve business and capital efficiency and will reduce working capital requirements11. Dabur also leveraged information technology to drive supply chain efficiencies. Initially the company was working on two ERP systems-Baan and Mfg Pro, in production and distribution respectively. However, after the acquisition of Balsara, the company realized it was using a multitude of IT platforms for storing and analyzing information. Towards the end of 2005, the company decided to move operations to a user friendly and cohesive system. With this objective the company adopted SAP ERP system. To improve manufacturing efficiencies the company implemented various programs such as automation, debottlenecking, Kaizen and wastage control. A major boost to the bottom-line was provided by setting up production units in locations providing tax holidays. On the procurement side, the company was purchasing raw material worth around Rs.500 crore


The sustained emphasis on improving manufacturing and operational efficiencies resulted in Daburs ability to maintain a negative working capital while improving on service levels. Inorganic Growth Dabur had been looking to develop the oral care market as 30 per cent of the population in India does not use toothpaste or toothpowder, but relies mainly on ash. Dabur anticipated that this consumer segment will switch to toothpowder and then toothpaste. Dabur Lal Dant Manjan and Dabur Red Toothpaste have been targeted at this segment. The company also extended the Dabur Red Toothpaste brand to gel toothpaste. Dabur scanned the toothpaste market for a possible acquisition and in early 2005, acquired Balsara Hygiene and Home Products. This gave Dabur access to Balsaras oral care products like Babool, Meswak and Promise. The Babool and Meswak products will be good strategic fit with Dabur as they too, are positioned as herbal products, said Mr. Duggal12. The acquisition pushed Daburs market share in the Rs 1980 crore toothpaste market, which is dominated by Colgate and Hindustan Lever, from 1.8 per cent to 8 per cent. The acquisition was largely funded through internal accruals- out of the Rs 140 crore investment, only Rs 20 crore was funded through debt. In addition to the oral care business, Balsara brought with it certain well-entrenched brands in the Home Care category. The portfolio included: Odonil an almost generic name in the air freshener category; Odomos a personal application based insect repellant, enjoying a dominant market share; Sanifresh -the second highest selling toilet cleaner in India; Odopic- a dishwashing and surface cleaner with strong brand equity in western India. The category market size is estimated at Rs 2000 crore and has extremely attractive growth opportunities looking at the low penetration levels. True to its potential, the home care portfolio showed a growth of 63 per cent in 2005-06 over the previous year. To further tap this growth potential, Dabur has identified key brands and is looking to add new products/ formats. For instance, Odomos has been


identified as a strong brand with significant latent equity and various products will be offered under this brand with different delivery mechanisms like creams, gels and lotions, coils, mats and liquid vapourizers. The success of any acquisition lies in the integration. For Dabur, smooth operational integration was achieved within the first six months, and the success of the Balsara integration is reflected in the financial turnaround. Balsara posted a turnaround and the erstwhile loss making entity generated profits of Rs 14.9 crore in the financial year 200506. The integration of Balsara with the company has resulted in better economies of scale and enhanced distribution. We have also been able to better our efficiencies in various areas as it gives us better bargaining power, said Mr. PD Narang. 13 Given Daburs ambitious target of growth, acquisitions are likely to remain an essential part of its growth strategy. We have an inorganic growth strategy in place to acquire businesses and brands that provide a good strategic fit and synergies, says Mr.Duggal14. With debt still a speck on its balance sheet and substantial cash at its disposal, acquisitions of the Balsara kind are well within its reach. Recognition The effect of planned implementation of Vision I strategy by Daburs management, was not restricted to the balance sheet- rather it had an organization-wide impact. Over the four years, as the results of execution started bearing fruit, numerous external agencies also began acknowledging this. The depth and expertise of managerial expertise was recognized through various awards, for instance, in 2005-06, Mr. Sunil Duggal featured amongst top 25 world-class managers (Smart Manager magazine) and Mr. Rajan Varma, amongst the top three CFOs of India (Business Today). Prior to this, Mr. Jude Magima, EVP Procurement, had received the Chief Procurement Officer Award from Indian Institute of Materials Management. In addition to implementation of Vision- I strategies, the management adopted some other agenda as well- recognition of people as key constituents of organization and conscious efforts towards strengthening corporate governance. The conscious efforts towards becoming an employee friendly organization resulted in Dabur ranking 10th in


the Great Place to Work survey conducted by Grow Talent and Great Place to Work Institute (published in Business world). Notably the company ranked first in the FMCG sector. As a result of the strong thrust towards embracing high standards of corporate governance, the company was rated at GCV (Governance and Value Creation), level two by CRISIL. In 2006, Dabur won the ICSI (Institute of Chartered Secretaries of India) National Award for excellence in Corporate Governance.
Exhibit 8: Recognition for Dabur, 2005-06

The Path Ahead The year 2005-06 witnessed a revival in the FMCG industry, after a prolonged period (2000-2004) of low rates of growth. Factors such as growth in rural and urban demand, return of pricing power and product innovations came together to stage this revival. Notably, the growth was higher in categories innovating the most, for instance, biscuits grew at 13 per cent and shampoos at 16.3 per cent. Also new categories with relatively


lower penetration levels, such as batteries, hair oils, scourers, shampoos and mosquito repellants, recorded higher growth rates15. The changing Indian demographic profile clearly shows the emergence of the youth as dominant consumers. Currently, 75 per cent of consumers are under 35 years of age, and of this 54 per cent are less than 25 years old. Liberalization and opening of the economy has contributed to higher global awareness amongst consumers. Additionally, sustained economic growth has translated into increase in income levels and affluence. In the last ten years (1996-2006) the Rich and the Consuming classes have grown by 416 per cent and 179 per cent respectively. At the same time, there are now more competitors such as telecom, lifestyle and entertainment, which are vying with the FMCG sector for gaining a share in the consumers wallet. The rural markets continue to retain their importance as they represent over 50 percent of Indias consuming class. The Indian retail trade scenario is witnessing a growth of the modern format retail stores. Shoppers at these stores have a higher propensity for trial and experimentation, making them early adopters for a host of products. These stores offer better shopping ambience and a more scientific approach to displays and promotions. Also, experience has shown, that for certain niche products, modern trade formats are a better retail option. However despite the fast paced growth of modern formats, they form a minuscule proportion of retail market. Another trend is the emergence of a varied set of formats- across both over the counter and self-service stores. Each format constitutes a different customer segment, having its own peculiar set of expectations. In Vision 2010, Dabur clearly outlines its target of doubling sales and profits in four years. To achieve this target the company has decided to adopt a three-pronged strategy - Expansion, Acquisition and Innovation. This is based on the companys projections of the various challenges and opportunities each business expects to face in the coming future, coupled with the strengths and capabilities the company has developed and strengthened over the past years. The Objective: Dabur now requires a business plan to implement its three-pronged strategy for achievement of Vision 2010.


1. Vision 2010 refers to Daburs four-year strategy and business plan for the period 20062010. 2. Press Release, March 29, 2006 3. Vision-I refers to Daburs four-year strategy and business plan for the period 2002-2006. 4. Power Brands: It pays to stay with your core, marginally, Economic Times, November 15, 2004 5. What Dabur Does, Business Line Catalyst, December 2, 2004 6. Power Brands: It pays to stay with your core, marginally, Economic Times, November 15, 2004 7. Dabur India Limited operates through two strategic business units-Consumers Care Division (CCD) and Consumer Healthcare Division (CHD) 8. Daburs elixir, Strategist, September 14, 2004 9. Dabur Foods to Hike Ad spends for Real brand by 40%, Business Standard, January 14, 2002 10. Dabur to enter personal care segment, Economic Times, November 11 11. Daburs Garuda project to conclude in 2005, Financial Express, October 7, 2004 12. Dabur Snaps Balsara in an Rs 143 cr Deal, Business Standard, January 28, 2005 13. The Integration of Balsara, Business Line, May 21, 2006 14. Dabur targets Rs 4000 crore Sales by 09-10, Business Standard, February 24, 2006

15. FMCG show is one of the best on the bourses, Economic Times, January 20, 2006


Annexure 1: Market Share, by Category, Hair Oil Market

Shampoos Market

Chyawanprash Market


Annexure 2: Key Financials over 2002-06


Net Working Capital (No of Days Sales)

70 60 50 40 30 20 10 0

No of Days of Sales


12.6 1.6 6.7





Return on Equity
50 40 30 20 10 0 2002-03 2003-04 Year 2004-05 2005-06
34 38.1 43.5 46.1

EBIDTA Margins (%)

18 16 14 12 10 8 6 4 2 0 2002-03 2003-04 Year 2004-05 2005-06
11.8 12.6 14.2 16


Navigator 2006-07 National Case Study Contest

RULES AND GUIDLINES PARTICIPATION 1. Participation of campuses/ institutes is by invitation only. 2. The contest is open to the following campuses/ institutes IIM A IIM B IIM C IIM L FMS MDI SIBM SCMHRD IIM I IIM K JBIMS IIFT NITIE NMIMS IMT SP JAIN TISS XLRI BIM MANAGE

3. Participation is open to all full time (first year and second year) students, registered for a Masters program with the invited campuses/ institutes. 4. Participation may be individually or in teams, subject to maximum team size of three members. Each student may be member of only one team. 5. Each team may consist of students from same institute/campus only. No interinstitute teams may apply. However there are no restrictions on team composition within the institute. 6. Each team must select a representative, who shall be the principle contact for all subsequent communications concerning the contest.

SUBMISSION 1. All teams must submit a ten slide presentation and a fifteen page word document, to present their business plan proposal. 2. The submission should include the following details regarding each team member: Name, age, institute, educational background, work experience (if any). 3. All teams must submit their entries on or before the 25th of November 2006. 4. The entries may be submitted via email ( and/ or via post (Campus Recruitment Cell, Dabur India Limited, Kaushambi, Sahibabad-201010, Ghaziabad, Uttar Pradesh). SELECTION

1. Candidates selected from the applications shall first be invited to the regional round.
Teams that shall clear the regional round shall be invited to the National Round.

2. Selection decision of panel of judges shall be final and binding.

PRESENTATION 1. The selected teams must present their Business Plans before a panel of judges. 2. The date, location and time of Presentation shall be communicated through the Campus Placement Cell/ Corporate Relations Cell. 3. The return trip fare from the campus/ institute to presentation venue shall be reimbursed by Dabur. Kindly note this is subject to taking prior approval from the company. AWARD 1. The winners at national round shall be awarded as follows: 1st Prize: Rs 1,25,000/2nd Prize: Rs 75,000/-

3rd Prize: Rs. 50,000/2. The winners at each regional round shall be awarded as follows: 1st Prize: Rs. 50000/2nd Prize: Rs 30,000/3rd Prize: Rs. 20,000/3. The award amounts are for the business plan entry as a whole, irrespective of the number of team members (one to three). In case two or three persons submit the plan, the amount would be equally divided amongst them. 4. Every student shall be fully responsible for the payment of any tax, contribution or amount of any kind relating to the prizes awarded. ADDITIONAL PROVISIONS 1.While participating in the contest, the students will have access to information concerning Dabur and its group companies. The students shall use such information strictly for the purpose it is disclosed and shall not misuse or exploit such information for commercial or other gains. In the event of such misuse of information, in addition to disqualifying the concerned student(s), Dabur shall also be entitled to take recourse to appropriate remedies, as advised. 2. Dabur reserves the right to shorten, modify or cancel the Contest at any time, without assigning any reason. Dabur shall have no liability in the event of such shortening or modification or cancellation. 3. The decisions of Dabur in relation to any dispute arising out of or relating to the contest shall be final and binding on the campuses/ institutes and students, and no correspondence will be entertained in this regard. 4. Any questions or clarifications may be sent to: