Dabur India declares Financial Results for fiscal 2005-06, adopts US GAAP

Tuesday, April 25, 2006

 

April 25, 2006, New Delhi: The Board of Directors of Dabur India Limited met today to consider the audited financial results of the company for the fiscal 2005-06 that ended on March 31, 2006.

 

The Board announced a final dividend of 100 per cent to its shareholders in their meeting held here today. With this, the total dividend payout for the full year increases to 350 per cent (pre- bonus) after including the interim dividend of 150 per cent (pre-bonus) that was announced by the company earlier during the fiscal. 

 

“The Board has decided to further enhance its dividend payout this year by announcing a final dividend of 100 per cent to its shareholders today, which translates into a dividend of 350 per cent for the year on a like-to-like basis. It is in line with our constant endeavor to enhance shareholder value and reward our shareholders with higher returns”, said V C Burman, Chairman, Dabur India. 

 

"The company has decided to adopt US GAAP from this year, in line with our commitment to follow global best practices and adopt highest standards of transparency and governance. This move will also help our stakeholders’ benchmark our performance globally,” said P D Narang, Group Director, Dabur India Limited.

 

“Our strategy based on the three principles of Expansion, Innovation and Acquisition was responsible for driving aggressive growth for the Company. Expansion in new geographies, especially overseas, and new categories; substantial new product introductions and the Balsara acquisition has enabled us to sustain the growth momentum as envisaged in our strategic plan for the next four years” says Sunil Duggal, CEO, Dabur India Ltd.

 

Dabur India (Consolidated) comprises performance figures of Dabur India; Dabur Foods and Dabur International including their step down subsidiaries including Dabur Nepal.

 

Dabur (Consolidated) has posted a growth of 44.3 per cent in net profit from Rs 157 crore to Rs. 226.62 crore on a turnover of that has surged by 23.6 per cent from Rs 1536.95 crore to Rs 1899.57 crore during the financial year ended March 31, 2006. 

 

Dabur (Consolidated) recorded a growth of 14.346.4 per cent in its net profit that surged from Rs 63.31 crore to Rs 49.9643.25 crore during the last quarter of fiscal 2005-062004-05 on a turnover that increased by 21.5 per cent from Rs 394.95 crore to Rs 479.93 crore. 

 

“Foods business recorded a strong growth of 46.3 per cent led by the REAL ACTIV range that nearly doubled its sales during the year. Consumer Healthcare continued its upward trajectory with 38.7 per cent growth based on new initiatives and product launches. International business posted a growth of 18.9 per cent driven by our business in Egypt and Bangladesh. The company also successfully launched Anmol Sarson Amla hair oil in Pakistan during the year” said Mr Duggal.

 

 

Dabur India figures include results of its Consumer Care business; Consumer Healthcare Business and some exports from India.

 

Annual Results

Dabur India, during the fiscal, registered a 27.727.4 per cent growth in its net profit that increased from Rs 148.02 crore to Rs 188.57 crore during the period under review. 

 

The sales turnover increased by 8 per cent from Rs 1268.72 crore to 1369.678 crore during the same period.

 

The company posted a growth of 21.820.6 per cent in its net profit that surged from Rs 41.23 crore to Rs 49.7122 crore on a sales turnover of Rs 332.69 crore, up 6.4 per cent, from Rs 312.77 crore, during the last quarter of the fiscal that ended on March 31, 2006.

 

“Home Care, Skin Care and Oral Care performed well during the year. Home Care business recorded an impressive growth of 63 per cent with all brands posting strong growth. Dabur Amla Hair Oil, our flagship brand, posted a growth of 5.2 per cent in a fiercely competitive market. Oral care posted a growth of 6 per cent led by Babool and Meswak that were launched with renewed marketing focus post acquisition and integration with Dabur. Baby & Skin care category crossed the Rs 100 crore milestone during the year” said Mr. Duggal. 

 

 

Revenues as per US GAAP are net of VAT/Sales tax and excise 

 

Particulars	Audited for the year Ended on
	31.03.06	31.03.05
Revenue *	1720.0	1368.4
Cost of Revenue	944.8	759.9
Gross Profit	775.2	608.5
Net Income	219.0	161.2
Earning Per Share
Basic	3.8	2.8
Diluted	3.8	2.8
Total Assets	1040.4	943.8
Cash and cash equivalents	48.9	13.9
Liquid mutual funds	41.0	43.8

 

Reconciliation of net Income as per Indian GAAP and us GAAP
Particulars	Audited for the year Ended on
	31.03.06	31.03.05
Consoliated net profit as per Indian GAAP	214.2	155.8
Loss on sale of long term investement net of deferred tax	8.6	759.9
Additional despreciation on property plant & euipments	(7.3)	(0.3)
Deferred taxed adjustment	2.5	6.0
Others	1.0	( 0.30)
Consolidate net profit as per US GAAP	219.0	161.2

 

Corporate Communications

Dabur India Limited

PH:- 95120-3982000, 3001000 extn 2101/2547

Fax: 95120-4374935

Email:corpcomm@dabur.com