DaburIndiaLtd

CorporateProfile
March,2011

1
1

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

2
2

Dabur India: Key Highlights

9

Established in 1884 - more than 125 Years

of Trust & Excellence

Among top 4 FMCG companies in India

Worlds largest in Ayurveda and natural

healthcare

Revenue of Rs.
Rs 34 billion and profits of Rs.
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

million retailers across the country

17 world class manufacturing plants

catering to needs of diverse markets

Strong overseas presence with 20%

contribution to consolidated sales

Ten Billion Rupee Brands

Dabur ranked
200 in the
Fortune India
500 list

Dabur moves
up to take the
78th spot in the
Super-100 list,
released by
Business India

Dabur ranked 45
among Most
Trusted Brands in
India, according to
Brand Trust
Report, India
Study, 2011

3
3

Strong Financials
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
34,167

10000
5000
0

FY06*

FY07

EBITDA Margin (in %)

FY10**

in Rs. million

22.0%
20.0%

17.1%

18.0%

14 0%
14.0%

FY09

Net Profit

in %

16.0%

FY08

18.1% 18.5% 18.3%

19 6%
19.6%

15.3%
13.3%

6000

4000
3000
2000

12.0%

5,032

5000

1,065

1 558
1,558

2,142

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
o atta

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 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
Dabur Figured in Top
10 Great Places To
Work

Dabur
Dabur ranked among
'Asia's Best Under A
Billion' enterprises by
Forbes

Acquired
Acquired Fem Care
Pharma entering the
mainstream Skin care
segment

Touched
Touched US$4 billion
market cap

2010
Overseas acquisitions Hobi Group, Turkey and
Namaste Laboratories, US

5
5

Global Footprint
UK
Turkey
y

Canada
U.S.

Egypt

UAE

Nepal

BDesh
Nigeria

Australia
Domestic Mfg.
Locations

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

Robust Distribution Network

Factory
C&FA
St ki t
Stockist

(Carry & Forward Agents)

S
Super
St
Stockist
ki t

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
9 Home Care

Agronomy Initiatives

9 OTC Healthcare

9 Protecting endangered 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

p

8
8

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

9
9

FMCG Industry Snapshot

Key Highlights

FMCG Industry Size (India)

FMCG industry size at US$30 billion in

CY10 and expected to grow to US$74
billion in 2018*
Industry has grown at 15% in CY10
Rural sector accounts for about 33% of
total revenue
Of the entire FMCG sector, Food is
52%, Non-Food at 45% and OTC 3%

in Rs. billion

1,600.00

1,024

1,200.00
1,000.00
800.00

856

755

1,339

1 161
1,161

1,400.00

600.00
400.00
200.00
0.00

CY06

CY07

CY08

CY09

CY10

Source: AC Nielsen

FMCG Growth : Urban & Rural

FMCG Split: OTC, Food and Non-Food

140,000

20%

16%

9%

10%

5%

3%
-1%

0%

CY03
-8%

-5%

CY04

-10%

10%

15%
12%

15%

18%
11%

10%

100,000

80,000

60,000

CY06

CY07

CY08

CY09

(11%)

(14%)

4 (10%)

45 (8%)
OTCPRODUCTS

46 (19%)

NonFood

Rural

Food Products
FoodProducts

48
50 (20%)
48

52 (14%)

50 (22%)

0
MATSep'07

Source: AC Nielsen

40,000

20,000

Urban

97,276
82,615

46 (14%)

1%
CY05

116 053
116,053

120,000

12%

12%

128,580

Rs.Crores

MATSep'08

MATSep'09

MATSep''10

Source: AC Nielsen

10
10

FMCG Growth Story

India FMCG Sector Volume and Value Growth Rate (Y-o-Y %)

High Growth Phase

Source: Industry data, Standard Chartered Research

Indias FMCG sector reported steady sales CAGR of 11.2% over FY00-10 on the
back of strong annual volume growth of ~8.5%.

Growth being driven by increasing consumption led by rise in incomes, changing

lifestyles and favorable demographics

FMCG industry expected to grow in mid to high teens going ahead

11
11

Penetration Levels: Sufficient Headroom

Rural Penetration

Urban Penetration

90%

80%

80%

77%

67%

70%

59%

57%

60%

50%

42%
37%

40%

32%
30%

26%
18%

20%

18%

19%

10%

3%

2%

5%

4%

0%

Toothpaste

Shampoo

Hair Oil

Skin Cream

Mosquito
Repellants

Instant
Noodles

Hair Dyes

Floor Cleaners

Source: Industry Data

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

12
12

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

7.7

7.4

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
h

Thailand

Indonesia
d

India
d

Malaysia
l

Thailand
h l d

Toothpaste Per Capita Consumption (in US$)

in
US$
3.5

2.9

3
2.5

2.0

2
1.5
1

1.0
0.5

0.4

0.5
0

China

Indonesia

India

Malaysia

Thailand

Source: MOSL

13
13

Key Players: FMCG

USD Million

Company

Key Categories

Sales

Profit

Market Cap

Hindustan Unilever Ltd

Soaps, Detergents, Personal Care,

Foods

4,479

538

12,897

Nestle India Ltd*

Food,, Beverages,
g , Infant nutrition

1,101
,

141

6,867
,

Dabur India Ltd

Personal, Health & Homecare,

Foods

733

108

3,475

Britannia Industries Ltd

Ltd*

Biscuits

734

33

918

Colgate Palmolive (I) Ltd* Oral Care & Toiletries

364

62

2,381

Marico Ltd.

Hair care, Food, Skincare

571

49

1,513

Glaxo Smithkline
Consumer*

Consumer Health Care

412

50

1,881

Godrej Consumer

Hair Care, Soaps

438

72

2,315

Procter & Gamble^

Feminine Hygiene, personal care

166

39

1,033

Source: Published results for year ending 31.03.10

*Year ending 31.12.09
^Year ending 30.06.09

Note: Market Cap. as of 06.02.11

14
14

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%

Ayurvedic
Tonics

66%

Dabur Chyawanprash

Digestives

55%

Hajmola

Fruit Juices

52%

Real Fruit Juices, Real Activ

Honey

50%

Dabur Honey

Glucose

26%

D b Glucose
Dabur
Gl

Dabur Gulabari, Fem, Dabur Uveda

Hair care includes Hair Oils & Shampoos; Oral care includes Toothpastes & Toothpowder; Skin care includes moisturizers,
15
face cleaning, lightening, anti ageing & other skin care products; Digestives includes herbal digestives

15

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

16
16

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-old benefits of
Ayurveda in modern ready-to-use
formats

8%

International
I
t
ti
l
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

17
17

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

18
18

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
Healthcare

Vatika
Premium
Personal
Care

Hajmola
Tasty
Digestives

Rs 17.0 bn Rs 3.9 bn Rs 1.4 bn

Natural / Non-herbal Space

Uveda
Ayurvedic
Skin care

Real
Fruit
Beverages

Balsara
FEM
Home Care Fairness Skin
solutions

NA

Rs 3.0 bn

Rs 1.3 bn

Rs 1.0 bn

B and size
Brand
si e pertains
pe tains to FY2008-09
FY2008 09 sales in India and o
overseas;
e seas Fem had sales of about
abo t Rs.30
Rs 30 mn in o
overseas
e seas markets
ma kets in FY09

19
19

Consumer Care Categories

Hair Oil
Key Brands

Market Share
7%
37%

16%
3%

6%
31%

Bajaj
Emami

Dabur
Marico

Dey's Medical
Others

Value Share-ACN
Share ACN June
June, 09

Dabur Amla:
Largest brand in
the portfolio

Vatika: Value added

coconut oil

Anmol Hair Oil:

Value proposition

Shampoo
Key Brands

Market Share

14%

6%

10%

24%
46%

Cavinkare

Dabur

P&G

Others

HUL

Vatika range
of shampoos

Value Share-ACN MAT Dec-2010

20
20

Consumer Care Categories

Oral Care
Key Brands

Market Share
13.9%
13.4%
50.0%

22.7%

Colgate

HUL

Dabur

Others

Value Share -ACN

ACN MAT Dec
Dec, 2010

Dabur Red: Toothpaste

& Toothpowder

Babool: Targeted at
economy segment

Meswak: Premium
therapeutic
toothpaste

Health Supplements
Key Brands

Chyawanprash Market Share

2.9%

10.5%

13.6%

7.2%
65.8%

Baidyanath Dabur

Emami Zandu

Volume Share-ACN MAT - Dec, 2010

Others

Dabur Chyawanprash:
Largest selling health
supplement in the
country

Dabur Glucose:
2nd largest
player in the
country

Dabur Honey: Largest

b
branded
d dh
honey in the
h
country; growing
category through replace
sugar strategy
21
21

Consumer Care Categories

Foods
Key Brands

Market Share
13.0%

52.0%

35.0%
Dabur

Pepsi

Others

C
Company
E
Est.
t M
Mar, 2010 for
f Fruit
F it Juice
J i category
t

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 Lever
Loreal

Emami
Cavin Care

*Company estimates;
Includes Fem skin care portfolio

Dabur
Others

Gulabari range of rose

based
skin
care
products: Moisturizer,
Face freshener & Rose
water

Uveda: Range of
Ayurvedic Skin
Care

Fem Gold
F
G ld Bleach:
Bl
h
Launched recently

22
22

Consumer Care Categories

Digestives
Key Brands

Market Share
37%

55%

8%
Hajmola

Satmola

Hajmola: Flagship brand

for branded Digestives

Others

Hajmola tasty
digestive candy

Value
a ue Share-ACN
S a e C MAT Dec,
ec, 2010
0 0

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
23
23

Consumer Health Division

CHD Structure

Description

9 CHD: Repository of Daburs Ayurvedic

Healthcare knowledge
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
Focus on growing the OTC Health-Care
portfolio aggressively

O C (64%)
OTC
(6 %)

ETHICAL
C
(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
9 Launching
new
products
in
emerging therapeutic areas
9 Look at inorganic opportunities

Honitus: Day & Night

for Cold and Flu relief

Pudin Hara Lemon

Fizz for digestion

Promoting Dabur Ayurveda: Generating

equity for Ethical portfolio

24
24

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

2003 Onwards

Today

Early 90s

Highlights

Daburs overseas business contributes 18%

to consolidated sales led by CAGR of 29% in
last 6 years
F
Focus
markets:
k t
GCC
Egypt
Nigeria
Turkey
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
care categories
Sustained investments in brand building and
marketing

High Growth in IBD

in Rs. million

New products contributing

significantly to overseas sales

25
25

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

26
26

Growth Strategy
EXPAND

DABUR
INDIA
LIMITED

ACQUIRE

INNOVATE

THREE PRONGED STRATEGY FOR SUSTAINING GROWTH

27
27

Expansion Strategy
Strengthening new categories
9 Skin Care: Ayurvedic skin care
range
g under a new brand
launched; Acquisition of Fem
9 OTC Healthcare: Leveraging
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:
y Acquisitions
q
critical for building scale in
existing categories & markets
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 up
in all categories
9 Renovation:
R
i
P
Periodic
i di b
brand
d
renovations to keep older
products salient

Expanding across geographies

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

28
28

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 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

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

29
29

Acquisition of Namaste Laboratories

9 Dabur India Limited through its subsidiary Dabur International Limited acquired 100% stake
in Namaste Laboratories LLC for $100 million, in an all-cash deal on January1, 2011
9 Namast is a leading ethnic hair care products company, having products for women of
colour, with revenues of about $93 million (Expected CY2010) from US, Europe, Middle East
and African markets
9 The company markets a portfolio of hair care products under the brand Organic Root
gp
presence in ethnic hair care market for women of colour.
Stimulator and has a strong
9 Acquisition to enable entry into Ethnic Hair Care products market valued at more than US$1.5
billion and tap into significant market opportunity in the fast growing, hugely populated (~1
Bn) yet highly underpenetrated consumer markets of Sub Saharan Africa
9 At an acquisition
i iti
price
i off $100 million,
illi
th deal
the
d l value
l
i att 1.1x
is
1 1 Sales
S l and
d 8.3x
8 3 EBITDA

30
30

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

31
31

Financial Performance 9M and Q3 FY 2010-11

Sales: 9MFY11 v/s 9MFY10
in Rs. million

25,607

9MFY10

29,926

Sales: Q3FY11 v/s Q3FY10

in Rs. million

10,878
9,323

Q3FY10

9MFY11

Q3FY11

Sales
S l
ffor 9MFY11 iincreased
db
by 16
16.9%
9% which
hi h was largely
l
l volume
l
driven
d i
PAT: 9MFY11 v/s 9MFY10
in Rs. million

PAT: Q3FY11 v/s Q3FY10

in Rs. million

3,670

9MFY10

4,219

1,378

9MFY11

Q3FY10

1,541

Q3FY11

PAT increased by 15% during 9M FY11 despite input cost inflation and
increased taxation
32
32

Stock Performance & Shareholding Pattern

Market Capitalization in Rs. billion

Shareholding Structure*

170
FIIs, 16.4
%

FIs/
MFs/Ins.
Cos., 7.8%

Indian
Public and
Others, 7.1
%

17
Prom oters,
68.7%

2001

2010
*As on December 31, 2010

Dabur ranked as the organization that offers the best return to investors by
the 6th Social & Corporate Governance Awards, presented by the Bombay
Stock Exchange

33
33

Consolidated P&L
in Rs. million

Q3FY11

Q3FY10

YoY (%)

10,878

9,323

16.7%

78

64

10 800
10,800

9 258
9,258

69

Material Cost
% of Sales

Gross Sales

9M FY11

9MFY10

YoY (%)

29,926

25,607

234

188

16 6%
16.6%

29 692
29,692

25 419
25,419

16 8%
16.8%

27

153.1%

256

139

84.8%

5,231

4,223

23.9%

14,162

11,664

21.4%

48.1%

45.3%

47.3%

45.6%

801

735

2 308
2,308

2 093
2,093

7.4%

7.9%

7.7%

8.2%

1,349

1,351

4,071

3,779

12.4%

14.5%

13.6%

14.8%

1 323
1,323

1 192
1,192

3 660
3,660

3 213
3,213

12.2%

12.8%

12.2%

12.5%

20

38

-48.5%

159

175

-9.0%

2,184

1,823

19.8%

5,906

4,983

18.5%

20 1%
20.1%

19 6%
19.6%

19 7%
19.7%

19 5%
19.5%

54

28

91.1%

144

151

-4.2%

Depreciation

160

131

22.2%

437

372

17.4%

Amortization

73

14

423.6%

130

41

215.0%

1 897
1,897

1 651
1,651

15 0%
15.0%

5 195
5,195

4 419
4,419

17 6%
17.6%

357

273

30.9%

976

747

30.7%

Less:Excise Duty
Net Sales
Other Operating Income

Employee Costs
% of Sales
Ad Pro
% of Sales
Other Expenses
% of Sales
Other Non Operating Income
EBITDA
% of Sales
Interest Expenses

Profit Before Tax (PBT)

Tax Expenses

9 1%
9.1%
-0.1%
11 0%
11.0%

Provision for Taxation for Earlier years

PAT(Before exceptional item)
% of Sales
PAT(After exceptional Items)
PAT (After Extra ordinary item & MI)

16.9%

10 2%
10.2%
7.7%
13 9%
13.9%

3
1,541

1,378

14 2%
14.2%

14 8%
14.8%

1,541

1,378

1,544

1,393

11.8%

4,219

3,670

15.0%

14 1%
14.1%

14 3%
14.3%

11.8%

4,219

3,670

15.0%

10.9%

4,216

3,678

14.6%

34
34

Consolidated Balance Sheet

in Rs. million
Sources Of Funds
Shareholders' Fund:
Share Capital
Reserves & Surplus
Minority Interest
Loan Funds:
Secured Loans
U
Unsecured
d Loans
L
Deferred Tax Liability
TOTAL
Application of funds:
Fixed Assets:
Gross Block
less: Depreciation
Net block
Capital WIP
Investments
Current Assets,Loans & Advances
Inventories
Sundry Debtors
Cash & Bank balances
Loans & Advances
Less: Current Liabilities and Provisions:
Current Liabilities
Provisions
Nett Current
N
C
t Assets
A
t
Miscellaneous Expenditure
Deferred Tax Assets
TOTAL

As on Dec 31, 2010

As on Dec 31, 2009

1,741
11 881
11,881
13,620
41
6,573
856

7,429
7
429
174
21,260

13,729
4,278

866
7 939
7,939
8,805
83
1,032
1 075
1,075

9,253
3,378
9,451
414
,
1,201

5,446
2,689
6,364
5,162

2,107
2
107
123
11,120

19,661

5,875
593
2,588
,
4,373
2,135
1,514
3,760

11,782

6,087
4,306
10,393
9 268
9,268
930

6,526
3,250
9,776
2 006
2,006
56

21,260

11,120

35
35

Accolades

Ranked 25th most

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

Dabur India Ltd has been

awarded the Top Marketer
A
Award
d ffor 2009 iin th
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
largest pure-play FMCG
company in the list.

Ranked
R
k d 28th iin ET-Brand
ET B
d
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

36
36

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

37
37