research report on dabur india

• DABUR INDIA LTD.
• SECTOR : FMCG
• INDUSTRY : PERSONAL PRODUCTS

Dabur India Ltd.

NSE: DABUR | BSE: 500096

/100 Valuation Score : 16 /100 Momentum Score : 57 /100 "> Expensive Performer

615.50 -4.35 ( -0.70 %)

New 52W High in past week

3.8M NSE+BSE Volume High vol.+gain this week

NSE 11 Jun, 2024 3:30 PM (IST)

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Broker average target upside potential%

Broker 1Year buys

7 active buys

Broker 1Year sells

0 active sells

Broker 1Year neutral

2 active holds

Broker 1M Reco upgrade

1 Broker 1M Reco upgrade

Dabur India Ltd. share price target

Dabur india ltd. has an average target of 620.11. the consensus estimate represents an upside of 0.75% from the last price of 615.50. view 19 reports from 9 analysts offering long-term price targets for dabur india ltd...

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• Dabur India Ltd

Dabur India Ltd FMCG | NSE : DABUR

• Target : 680.0 (28.54%)
• Target Period : 12 Month

06 May 2022

Agri-economy growth to improve rural consumption.

Dabur India (DIL) is one of the biggest FMCG companies with a presence in Ayurveda based products across categories. The company has a dominant market share in health supplement, OTC & Ethical products, hair oils & Juices. Moreover, it is continuously gaining market share in Oral care category.

• The company has a total distribution reach of 6.9 million retail out with direct reach of 1.3 million outlets. It would increase direct distribution to 1.5 million outlets in the next two years. Dabur also derives ~50% of its sales through rural regions with presence in 90,000 villages

Dabur reported stable 7.7% pricing led revenue growth

• Sales were up 7.7% YoY aided by 5.6% pricing & 2% volumes growth
• EBITDA was at Rs 453.6 crore, up 2.5 YoY, with margins at 18%
• Consequent adjusted PAT was flat at Rs 379.3 crore

Dabur’s share price has given 88.4% return in last five years (from Rs 280 in May 2017 to 529 in May 2022)

• We believe Dabur is best placed to curb margin pressure given its low dependence on crude based raw material
• We maintain our BUY rating on the stock

We value the stock at Rs 680 on ascribing 52x FY24 earnings multiple

• Though commodity inflation has impacted consumer sentiments & margins in near term, DIL could benefit from high growth in agri-economy due to increasing agri exports & in turn expected improvement in rural growth
• Increasing the addressable market by diversifying in categories like fruit drinks, health foods (under Real brand), herbs & baby products under Dabur brand & extending Chyawanprash, Honey into new variants
• Extensive rural distribution expansion, increasing direct distribution reach & ecommerce presence to support newer & under-penetrated category sales

We also like TCPL in our FMCG coverage

• Strong innovation & premiumisation strategy in salt, tea, Sampaan & Soulful in India market expected to drive sales & margins
• We value the stock at Rs 910 on ascribing 52x FY24 earnings multiple

Particulars

Shareholding pattern

Price Chart

Recent event & key risks.

• It launched Virgin Coconut Oil & Groundnut Oil under Dabur brand
• Key Risk: (i) Incessant commodity inflation (ii) Slowdown in economic activity can impact rural consumption

Research Analyst

Key financial summary.

Key takeaways of recent quarter

Q4FY22 Results: Rural consumption to get a boost from high exports

• Dabur witnessed revenue growth of 7.7% to Rs 2517.8 crore led by 7.6% growth in standalone business (domestic) & 8.2% growth in subsidiaries (international business). The growth is largely driven by prices
• The quarter saw strong growth of 33.5% in foods & beverage business led by Juices (saw 35% growth). The company saw 610 bps increase in market share in juices & nectars. food (homemade) portfolio clocked Rs 100 crore sales in FY22. The company launched Cold Pressed Groundnut Oil & Virgin Coconut Oil in edible oil portfolio
• Despite high base of health-supplement (Chyawanprash, Honey), the category reported 9.7% sales growth. OTC-& ethical sales grew by 7.5% & home care category saw strong growth of 11%
• However, oral care, hair oils & shampoos witnessed muted 1.1%, 2.6% & 5.6% sales growth on high base & saturation in category growth. Digestives also recorded dismal 1.2% sales growth. Skin & saloons category saw degrowth of 10.6%. The company launched Hajmola Amla Candy in Digestives during the quarter
• DIL saw market share gain in ‘Chyawanprash’ & Honey to the tune of 250 bps & 300 bps respectively. Home care brands Odonil & Odomos gained market share by 40 & 220 bps, respectively
• The growth in international business was led by 12% sales growth in Egypt, 24.8% growth in Africa, 11.2% growth in Namaste (US) & 47.2% growth in Hobi. The MENA region sales was flat & Saarc region sales growth was also muted at 5.4%
• The new product launches (Innovation) is now contributing 5% to the sales with multiple new products launched in last two years. Despite relatively slower pace of innovation in future, contribution of new products would continue to remain 4-5%
• The company has increased its direct distribution network to 1.3 million outlets & rural reach has increased to 90,0000 villages. Ecommerce channel contributing 6.5% to the sales
• Oral care category saw a decline by 5% but the company registered growth of 2.5% gaining market share by 20 bps. ‘Dabur Red’ led the growth with 5.5% sales growth. There seems to be down trading in oral care due to adverse rural market sentiments. Cut back in consumer promotions has also impacted growth in the category
• With the steep increase in commodity prices (crude based packaging), gross margins contracted 130 bps. Employee & marketing spends were down (percentage to sales) by 40 bps & 63 bps, respectively. However, overhead spends were up by 65 bps. Operating profit grew at a slower pace of 2.5% to Rs 453.6 crore whereas operating margins were down by 92 bps to 18% mainly on account of lower gross margins
• The contraction in gross margins is mainly due to crude based costs like liquid paraffin & HDPE. The inflation for the company is closer to 9% and has taken 7-8% price hikes. It may require to take price hikes further to protect margins given raw material inflation continue to rise unabated
• Juices & nectars market has grown by 9% in Q4 due to early start of summer. With robust growth, the company gained market share to the tune of 610 bps. The newly launched fruit drinks sales touched |100 crore mark
• The high overhead spends was mainly on account of freight cost due to high growth in food & beverage segment. Further, shortage of capacity in beverage led to the higher outsourcing & increased processing costs
• The reported net profit was down by 22% to Rs 294.3 crore on account of Rs 85 crore exceptional expense due to goodwill impairment in Turkey Subsidiary ‘Hobi Kozmetic’ due to currency de-valuation. Adjusting for this exceptional expense, PAT was flat at Rs 379.3 crore. The company proposed a final dividend of Rs 2.7 /share & total dividend stands at Rs 5.2 / share for FY22
• The capex for the year is likely to Rs 400 crore and income tax is likely to be 22-23% in FY23

Financial Summary

Profit and loss statement ₹ crore.

Key ratios ₹ crore

Balance Sheet ₹ crore

Cash flow statement ₹ crore, previous reports pdf:, terms & conditions and other disclosures.

ANALYST CERTIFICATION

I/We, Sanjay Manyal MBA (FINANCE) Research Analyst, authors and the names subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. It is also confirmed that above mentioned Analysts of this report have not received any compensation from the companies mentioned in the report in the preceding twelve months and do not serve as an officer, director or employee of the companies mentioned in the report.

Terms & conditions and other disclosures:

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• DABUR INDIA LTD.
• SECTOR : FMCG
• INDUSTRY : PERSONAL PRODUCTS

Dabur India Ltd.

NSE: DABUR | BSE: 500096

/100 Valuation Score : 16 /100 Momentum Score : 57 /100 "> Expensive Performer

615.50 -4.35 ( -0.70 %)

New 52W High in past week

3.8M NSE+BSE Volume High vol.+gain this week

NSE 11 Jun, 2024 3:30 PM (IST)

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Broker average target upside potential%

Broker 1Year buys

7 active buys

Broker 1Year sells

0 active sells

Broker 1Year neutral

2 active holds

Broker 1M Reco upgrade

1 Broker 1M Reco upgrade

Dabur India Ltd. share price target

Dabur india ltd. has an average target of 620.11. the consensus estimate represents an upside of 0.75% from the last price of 615.50. view 19 reports from 9 analysts offering long-term price targets for dabur india ltd...

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Dabur India beats profit estimates on higher demand for household products

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Reporting by Praveen Paramasivam in Chennai; Editing by Sonia Cheema and Janane Venkatraman

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How Dabur is riding the new normal

The pandemic has seen the 136-year-old company reboot by fast-tracking product launches, embracing automation, upping the emphasis on e-commerce, and focussing on its health portfolio..

You are likely to have been advised d this over the last several months. Multiple times. “Boost your immunity!” It is, after all, the only protection from the Covid-19 virus till we get a vaccine. While the jury is still out on whether—and how much—certain ingredients can actually shield you from infection, sales of immunity-related products have soared. And among the companies that have benefited from this trend is Dabur, the 136-year-old maker of Dabur Chyawanprash, Dabur Honey, and Real juices.

The unprecedented nature of the pandemic sent the economy into a tailspin, wiping out millions of jobs and thousands of businesses. But Dabur, which climbed 14 spots up the 2020 Fortune India 500 list to No. 160, recognised early that though this was a disruptive event, it also presented an opportunity. It aggressively ramped up new product development, pushed its digitisation and automation efforts, made necessary changes to its HR policies, and beefed up its e-commerce presence. Most significantly, Dabur sharpened its focus on its health portfolio.

Dabur’s healthcare vertical contributed about 40% to its overall sales in the second quarter of FY21, compared to about 32% in the comparable quarter last year. “We are completely envisioning that healthcare should become the mainstay; this is the core capability and competency of the organisation,” says Mohit Malhotra, chief executive officer, Dabur India. In its last annual report as well, the company had mentioned wanting to strengthen its healthcare portfolio with Ayurveda-based products in modern, ready-to-use formats, and reduce its reliance on the home and personal care (HPC) category. The HPC division contributed almost half of its revenue (48%) in Q2FY21 while the foods vertical accounted for 13%.

Since March, the Ghaziabad-headquartered company has launched 40 new products across segments, fast-tracking the process from the normal one-two years to two months. These include Tulsi Drops, Haldi Drops, Amla Juice, Aloe Vera Juice, and Wheatgrass Juice.

It plans to add to the offerings from its ayurvedic specialities division, which sells about 300 prescription products such as Dabur Ashokarishta, a tonic for menstrual cramps, fatigue, and weakness. These products are generally available in ayurvedic pharmacies and have seen a surge in sales as well.

Rajiva Kumar Rai, head-healthcare research, Dabur India, says the company typically has a pipeline of about 50-80 new products ready for launch at any time. “Covid-19 provided us with an opportunity to fast-track the launch of these new products, many of which addressed the emerging consumer needs,” he says.

The rapid response has paid off. In the three months ended September, the ayurvedic and natural healthcare company brought in ₹2,516 crore in revenue—a 13.7% gain over last year.

[The pandemic] has made us nimble-footed and agile as an organisation. Our risk-taking ability has gone up… we are thinking at a much younger level for millennials, and how we get the distribution to, and product innovation for, them.

Some analysts caution that this kind of demand may not be sustainable in the long term, but Malhotra is confident. He argues that the penetration of health supplements in India is still very low; the nutraceuticals penetration is less than 10%, compared to around 80% in developed countries. “There is a lot of headroom for growth; we aren’t even scratching the surface yet,” he says. He believes healthcare demand will continue to surge for at least a year or two, and a protracted pandemic will mean that people will form new habits for preventive health products.

Some experts agree that Dabur will continue to benefit from Covid-19. Kavil Ramachandran, professor and executive director, Thomas Schmidheiny Centre for Family Enterprise, Indian School of Business, says, “several of the growth segments are likely to remain the same due to the basic switch of consumers while several others will switch partially”.

Not just Dabur, other companies are flourishing too. Kapiva, a four-year-old ayurvedic products firm funded by Fireside Ventures, the Mohandas Pai family office, and the Marico family office, says its overall business doubled during the pandemic, while its immunity portfolio grew even faster. Along with that, as disposable incomes rise, people will spend more on wellness, says the co-founder of Kapiva, Shrey Badhani. “I think concerns around wellness, spending on wellness, and preventive medicines will continue to rise as people become more aware, and environmental concerns amplify these trends,” he says.

As Malhotra puts it, the changes necessitated by the pandemic are here to stay. “For us, Covid was an inflection point. It ushered in change in the organisation,” he says. For instance, Dabur has stopped setting annual targets for employees to push fearless innovation, and removed the limit of a minimum three years to qualify for promotion. It has also started hiring from top-tier B-schools, like the Indian Institute of Management Ahmedabad. “This change in culture, in the way we operate, in the mindset of the company... it will endure over a period of time,” says Malhotra.

The last six months

So how did this FMCG giant navigate the pandemic and become future-ready in the process? Malhotra breaks it down. During the first month, he says, factories were closed and both the supply chain and distributor associations were disrupted. Business went down by almost half. Add to that, India saw an en masse migration of labourers from cities.

In the context of the mass migration, the first step for Dabur was to send out teams to states like Jharkhand and Chhattisgarh to recruit new labour. About 400-500 recruits were brought on board, housed at Dabur’s factories, trained, and put to work. They were crucial to the company’s plans of launching a slew of new products to meet the rising demand for health and immunity-boosting products. Dabur’s digitisation and automation efforts were also ramped up.

Also, as consumers hunkered down in their homes, e-commerce emerged as a preferred method of making purchases. Experts believe this trend is here to stay. “Targeting this emerging trend, we have already started launching a series of new products exclusively for online markets,” says Adarsh Sharma, executive director-sales, Dabur India. The company is using its e-commerce platform to experiment with premium, online only products, which saves them the distribution costs. For instance, apple cider vinegar, and a host of baby products. “We are trying out premiumisation on e-commerce and if it looks promising, we will launch [these products] in retail,” says Dabur chairman Amit Burman.

And though e-commerce may have become more important post-pandemic, Dabur has always believed it to be critical to gain and retain millennial consumers. “[The pandemic] has made us nimble-footed and agile as an organisation,” says Burman. “Our risk-taking ability has gone up… we are thinking at a much younger level for millennials, and how we get the distribution to, and product innovation for, them.”

Amit Burman too feels that the family’s decision in 1999 to hire good professionals who will lead Dabur into the future has proved pivotal; as chairman, his involvement is at a strategic level only. That faith seems to be leading to a happy— and healthy—outcome for the FMCG major, even in the toughest of times.

Additionally, the company is experimenting with newer formats like a tablet form for products such as haldi (turmeric), giloy (heart-leaved moonseed), and ashwagandha (Indian ginseng) to make these more attractive to millennials and centennials. While Dabur Chyawanprash already commands over 60% share in the branded chyawanprash market in India, these innovations will be key if it wants to take overall pole position in consumer health products, an area that other FMCG companies and startups are eyeing as well. Competition is heightening with HUL making headway into the Ayurveda segment with Lever Ayush, while Marico extended its edible oil brand Saffola into the chyawanprash category recently.

Then there are the big acquisitions made in recent years. In 2018, Zydus Cadila bought Kraft Heinz’s consumer brand businesses, which makes Complan. Last year, Hindustan Unilever (HUL) acquired GlaxoSmithKline Consumer Healthcare, which makes Horlicks, Boost, and Maltova. Malhotra and Burman have hinted at an acquisition as well but no details are available yet.

Abneesh Roy, executive vice president, institutional equities, Edelweiss Securities, believes that Dabur is well-placed to ward off competition. “Dabur has got decades of experience being a homegrown brand. In FMCG, if you have 60%-65% market share in honey and chyawanprash, no player can really take market share from you,” he says.

The high stakes in the honey segment are reflected in the public spat between Dabur and Marico. In early December, the Centre for Science and Environment, a non-profit group, came out with a report claiming that almost all brands of honey being sold in India were adulterated with sugar syrup, which it found using the nuclear magnetic resonance (NMR) test. While Dabur’s sample failed the NMR test, Marico’s didn’t. This has led to both companies complaining about each other to the Advertising Standards Council of India.

For newer entrants, procuring raw materials could be another barrier. Dabur says it has medicinal herbs growing in over 6,000 acres in India and 542 acres in Nepal.

The one new entrant that had rocked Dabur’s boat was Patanjali. It deeply impacted Dabur’s honey and chyawanprash market share. However, various experts suggest that unplanned expansion and inconsistency in products—added to a slow economy—impacted Patanjali’s growth. According to Roy of Edelweiss, Patanjali seems to have lost its way. “Four years ago, they were considered a very serious company. Because of multiple issues, they are now a very small player in core FMCG. Their focus is now more on the commodities part of FMCG, like edible oil, rice, ghee, atta (flour), etc. In core Ayurveda, Dabur has got back all the market share that it had lost to Patanjali,” he says.

Burman too feels that the family’s decision in 1999 to hire good professionals who will lead Dabur into the future has proved pivotal; as chairman, his involvement is at a strategic level only. That faith seems to be leading to a happy— and healthy—outcome for the FMCG major, even in the toughest of times.

(This story appeared in Fortune India 's January issue.)

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DRF - An Indian Contract Research Organization

Dabur Research Foundation (DRF) is an Indian Contract Research Organization offering preclinical services in Drug Discovery and Development, ranging from identification of potential lead molecules, drug development to IND enabling studies. We offer preclinical services to global Biotech, Pharma, Phytopharmaceuticals Cosmeceuticals, and academia sectors Read More

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The core team of DRF looks back on more than 20 years of their experience in conducting preclinical studies and commercializing molecules.

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Dabur Research Foundation offers various in vitro or ex vivo models serving as alternatives to animal testing by focusing on the 3R’s principle

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Dabur Research Foundation recognizes the need for out of the box thinking to enable for rapid & cost effective preclinical development of molecules

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DRF has designated laboratories for Necropsy, biochemistry and histopathology equipped with state of art/fully automatic equipments such as hematology analyzer, biochemistry analyzer, coagulation analyzer, tissue processor, microtome and etc. know More

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• The GLP certified facility is equipped for small animal experimentation with quarantine, breeding and experimental rooms for rodents and rabbits.
• Animal experimentation is under the control of the Institutional Animal Ethics Committee (IAEC), and animal use as per the guidelines of Government of India. Know More

In a campuse of approximately 60000 square feet area Dabur Research Foundation is a one-stop shop for your preclinical needs. The state-of-the-art GLP facility is ready having 19 experimental rooms. This facility is centrally know More

• Test item control unit- Dedicated test item control officer
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The state-of-art instrumentation lab at DRF provides in depth analytical services to support the analytical needs for API, NCEs, Agrochemical Testing (physicochemical Testing and five Batch Analysis), UVCB’s, CMC testing, Herbal drug characterization, DMPK (Drug Metabolism and Pharmacokinetics, Bioanalysis), other chemical analysis. Know More

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Date: 28th March 2024

Partex NV announces collaboration with Althea DRF Lifesciences to provide comprehensive end-to-end services to accelerate drug discovery and development.

Frankfurt, Germany; 28 March 2024 – Partex Group, a pioneer in AI-driven drug discovery, announces a collaboration with Althea DRF Lifesciences, an established contract research organisation, aimed at combining the strengths of Partex's advanced AI & data services technology and Althea’s screening services and compounds.

The immediate scope of this exciting partnership is to provide end-to-end services from AI-driven drug discovery to wet lab validations to accelerate drug development.

Dr. Gunjan Bhardwaj, CEO of Partex, expresses enthusiasm about this innovative collaboration, stating, “We have been following Althea for quite some time and this collaboration is a logical next step for both companies in driving innovation in drug discovery. It will allow us to further strengthen our product development in many ways, and it will drive more future innovations.”

DRF MANAGEMENT

Dr. Anu T. Singh

Dr. Manu Jaggi

Chief mentor.

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The Collapse of the Purchase Funnel

In a volatile world rife with pressures on consumers, from health and the economy to challenges to rights and freedoms and an eroding sense of community, consumers are demanding more from brands.

The relationship between consumers and brands must evolve, as people feel more vulnerable, and their expectations of brands grow. The 2023 Edelman Trust Barometer Special Report: The Collapse of the Purchase Funnel tells us that consumers are looking for ongoing engagement after the point of purchase and their need for trust grows with feelings of vulnerability.

Featured Content

Gen z on gen z: the collapse of the purchase funnel.

Giselle Huasipoma and Gabe Gomez, Edelman Gen Z Lab ambassadors, sit down to unpack findings from the Edelman Trust Barometer Special Report: The Collapse of the Purchase Funnel. They discuss Gen Z asking more questions throughout their purchasing journeys, the future of online versus brick-and-mortar retail experiences, and why they don't want to be "ghosted" by brands.

Personal and societal threats have led to a more discerning consumer

are more price conscious

are doing more research before they buy

are making fewer impulse purchases

say there are brands they will not buy because of the countries in which they are HQ'd

Gen Z is impacting the entire buying ecosystem

79% of Gen Z say it’s more important than ever to trust the brands they buy, more than any other generation surveyed

68% of consumers say Gen Z influences where and how they shop, with a staggering 12-point increase in one year on those age 59+

The purchase funnel no longer reflects the modern brand-consumer relationship

Purchase is just the beginning

of consumers say that they uncover things that attract them to a brand and drive loyalty after the first purchase .

1. Purchase is often the starting point

2. ongoing engagement builds attraction, 3. brand action builds trust, 4. trust drives growth.

Trusted brands are rewarded with purchase, loyalty and advocacy

are more likely to purchase new products when they trust the brand, even irrespective of price

are more likely to stay loyal to and advocate for a brand they trust

Building Brands in a Vulnerable World

Move beyond the funnel.

Today’s consumers want an ongoing relationship with brands, and most consideration happens after the purchase. Build your brand and measurement strategy around the Trust Loop.

Work with Z, don’t underestimate them

Gen Z is changing the face of global commerce. They are pragmatic and highly influential. Even if they’re not your target, work with them to unlock consumer action at scale.

Make trust your growth engine

With trust, brand action fuels consumer action – buying, advocacy and loyalty. Through a reciprocal relationship that builds trust, you can unlock growth.

Featured Insights

Trust and Brands: The Collapse of the Purchase Funnel

Richard Edelman, CEO.

Edelman’s most recent Trust Barometer special report, The Collapse of the Purchase Funnel, finds that today’s buying behavior is too dynamic for a linear funnel and that purchase is no longer the end point but the start of an ongoing relationship with the consumer.

Three Mandates Marketers Must Adopt to Build Brand Trust in 2023

Jackie Cooper, Global Chief Brand Officer & Senior Advisor.

When we ask ourselves, what has really changed in the last year? The truth is that everything has. Consumers are feeling the pressure from every corner of our world - from the micro, everyday things like paying their bills to the macro, big picture things, like the smog outside their city windows..

Gen Z Harnesses Vulnerabilities, Asking Brands to Stand Up for All Consumers

Bianca Brown, Senior Account Executive and a U.K. Ambassador to Edelman’s Gen Z Lab, in conversation with Ellie Smith, Content Supervisor at the Edelman Trust Institute.

The Edelman Trust Institute sat down with Bianca Brown, Senior Account Executive and a U.K. Ambassador to Edelman’s Gen Z Lab, to discuss findings about Gen Z in the 2023 Edelman Trust Barometer Special Report: The Collapse of the Purchase Funnel.

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Chip industry to face crunch of 300,000 professionals by 2027: Teamlease study

According to industry estimates, the semiconductor industry in india is expected to reach $100 billion by 2030..

India’s semiconductor industry is expected to face a shortage of 250,000-300,000 professionals by 2027, according to a report by TeamLease Degree Apprenticeship. The talent shortage is expected across verticals such as research and development (R&D), design, manufacturing, and advanced packaging.

This assumes significance as India is looking to target a significant share of the global semiconductor manufacturing industry . Under the Rs 76,000 crore semiconductor incentive scheme, the government has approved four projects so far. These include Micron’s assembly, test, marking and packaging (ATMP) project, Tata’s chip manufacturing and assembly project, and CG Power’s chip assembly project. More projects are also in the pipeline and at approval stage.

According to industry estimates, the semiconductor industry in India is expected to reach $100 billion by 2030. Recently, companies and the government have collaborated to introduce the required curriculum in different colleges. Last year, the government said more than 300 prominent colleges in India would start offering specialised courses on semiconductors.

To reduce the talent gap, degree apprenticeships can help industry get access to a highly qualified workforce by combining theoretical and on-the-job training.

“AI-powered chip design and smart manufacturing are creating a demand for professionals skilled in AI, IoT, and 5G. Building an ecosystem for higher value creation activities and cultivating a competent workforce through degree apprenticeships and training programs is crucial to establish India as a significant player,” said Ramesh Alluri Reddy, chief executive officer of TeamLease Degree Apprenticeship.

The Electronics Sector Skill Council (ESSC) currently offers over 35 apprenticeship courses under the National Apprenticeship Promotion Scheme (NAPS) scheme to address skill shortages at various levels of entry-level work.

The number of apprenticeships in the electronics industry has surged over 12-fold from 7,517 in 2019-20 to 91,948 in 2023-24, acocording to Sumit Kumar, chief business officer at TeamLease Degree Apprenticeship.

TeamLease Degree Apprenticeship is also collaborating with over 22 universities to design courses to equip professionals with the necessary skills for the semiconductor industry.

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Regional Disruptions Drive Changes in Global Container Port Performance Ranking

Global maritime shifts impact container port performance; large Asian ports continue to excel

New York/Washington, June 4, 2024 – The newest global Container Port Performance Index (CPPI) reveals that East and Southeast Asian ports excelled in 2023, accounting for 13 of the top 20 places.

Developed by the World Bank and S&P Global Market Intelligence, the fourth edition of CPPI is based on the biggest dataset ever: more than 182,000 vessel calls, 238.2 million moves, and about 381 million twenty-foot equivalents (TEUs) for the full calendar year of 2023. More than 80% of merchandise trade is transported by sea, so the resilience, efficiency, and overall performance of ports is crucial to global markets and economic development.

Regional disruptions impacted port performance everywhere, according to the new report.

“While the challenges caused by the COVID-19 pandemic and its aftermath eased further in 2023, container shipping continues to be an unpredictable and volatile sector,” said Martin Humphreys, Lead Transport Economist at the World Bank. “Major ports need to invest in resilience, new technology, and green infrastructure to ensure the stability of global markets and the sustainability of the shipping industry.”

There are 57 new ports in the CPPI 2023, including Muuga Harbour in Estonia and Port of Al Duqm in Oman, as well as several notable movers. One of the major Indian ports, Visakhapatnam Port, made it into the top 20. Despite its relatively low ranking, Dar es Salaam Port in Tanzania managed to shave ship arrival times by 57%.

“There is a greater awareness and focus on resilience and efficiency of maritime gateways and greater understanding of negative impact of port delays on economic development,” said Turloch Mooney, Head of Port Intelligence & Analytics at S&P Global Market Intelligence . “The highly interconnected nature of container shipping means the negative effect of poor performance in a port can extend beyond that port’s hinterland and disrupt entire schedules. This increases the cost of imports and exports, reduces competitiveness and hinders economic growth and poverty reduction.”

Looking at the top-performing ports, China’s Yangshan Port earned the top spot for the second consecutive year, while Oman’s Port of Salalah retained the number two position. The port of Cartagena in Colombia ascended to 3 rd place. Tanger-Mediterranean of Morocco held steady in 4 th , and Tanjung Pelepas Port in Malaysia rounded out the top 5.

The CPPI ranks 405 global container ports by efficiency, focusing on the duration of port stay for container vessels. Its primary aim is to identify areas for enhancement for the benefit of multiple stakeholders in the global trading system and supply chains, from ports to shipping lines, national governments, and consumers.

The full index can be found here .

About the Container Port Performance Index (CPPI)

Developed by the World Bank and S&P Global Market Intelligence, the global Container Port Performance Index is a comparable index of global container port performance intended to serve as a reference point for key stakeholders in the global economy, including national governments, port authorities, development agencies, supra-national organizations and private operators of trade, logistics and supply chain services.

About the World Bank ( www.worldbank.org/transport )

The World Bank Group has a bold vision: to create a world free of poverty on a livable planet. In more than 100 countries, the World Bank Group provides financing, advice, and innovative solutions that improve lives by creating jobs, strengthening economic growth, and confronting the most urgent global development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries. It consists of the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). For more information, please visit www.worldbank.org , www.miga.org , and www.ifc.org .

About S&P Global Market Intelligence ( www.spglobal.com/marketintelligence )

At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence

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Air India Express To Expand Operations In Delhi-NCR – India Report

Bulbul Dhawan , Skift

June 5th, 2024 at 11:00 PM EDT

Air India Express has become the first airline to operate from two airports in the national capital region. The airline is aiming to use the Hindon airport to connect with the smaller cities in western Uttar Pradesh, Uttarakhand, and Haryana. It is not yet known if the airport will serve as another hub - but would it make sense if it were to become one?

Bulbul Dhawan

The Skift India Newsletter is your go-to platform for all news related to travel, tourism, airlines, and hospitality in India.

Budget airline Air India Express has announced that it will be commencing operations from the Hindon airport in the national capital region (NCR), in addition to its ongoing operations from the Delhi airport. With this, it has become the first airline to operate from two airports in the NCR. 

Starting August 1, 2024, the airline will operate 28 weekly direct flights to Bengaluru, Goa, and Kolkata. The move aims to enhance connectivity from cities in western Uttar Pradesh, Uttarakhand, and Haryana. 

Air India Express managing director Aloke Singh said, “Our network expansion is focused on enhancing connectivity across the rapidly growing domestic and short-haul international market, particularly the new and underserved routes. The maturity and size of major metropolitan areas in India can support secondary airports.”

The Hindon airport was meant to serve the smaller towns bordering Delhi in Uttar Pradesh as part of the government’s regional connectivity scheme. However, only two airlines – FlyBig and Star Air – currently operate from there, with Air India Express set to be the third airline. 

A New Hub? Air India Express’ primary hub is located in Kochi, while it has secondary hubs in nine cities, including Delhi. The airline operates 280 weekly flights from Delhi, and flights from Hindon are meant to complement Air India Express’ Delhi operations. 

It is not yet clear if Hindon will be another hub for the airline, as it currently only plans to operate direct flights to three destinations from the airport. 

However, it is possible for the airport to serve as a hub for the budget airline’s regional operations, especially as it prepares for its merger with AIX Connect, formerly known as AirAsia India. 

In an interview with Skift , IndiGo CEO Pieter Elbers had said that multiple hubs for airlines in a country of the size and population of India would be justified. “IndiGo serves different markets from different hubs. The geographical size of India is a fantastic opportunity for us,” he said. 

While Air India Express is currently the only airline to operate from two airports in NCR, India’s largest airline IndiGo is also ready to operate from the upcoming international airport in Noida in the NCR region. For this, the airline has also signed an agreement with the airport to become its launch carrier. 

Ixigo IPO To Open Next Week

Le Travenues Technology, the parent company of Indian travel aggregator Ixigo, will be launching its initial public offering (IPO) next week . The company is looking to raise INR 7.4 billion ($89 million) from the IPO, including fresh issuance of equity shares worth INR 1.2 billion ($14.4 million). 

The company received the regulatory approval for its IPO in May. 

Ixigo is planning to use the proceeds from the IPO to partially fund its capital requirements, invest in cloud infrastructure and technology, and fund inorganic growth through acquisitions and other strategic initiatives, Skift has learnt from its draft prospectus

“Our strategy focuses on expanding our user base, particularly targeting the ‘next billion user’ market segment. We emphasize customer acquisition through robust sales and marketing activities,” the company stated in the draft papers.

Air India To Facilitate Check-In At Delhi Metro Stations

Full-service carrier Air India has partnered with Delhi Metro and Delhi airport to facilitate check-in and baggage drop for international passengers at the New Delhi and Shivaji Stadium metro stations. The facility would allow outstation travelers to check in their baggage at the metro station and explore the city baggage-free, the airline said. 

Until now, this facility was only available for domestic passengers of the airline. Travelers can avail this facility between 7 am and 9 pm. Air India has said that passengers can check in between 12 hours and 2 hours before the departure of domestic flights, while for international schedules, check-in can be done between 4 hours and 2 hours before the departure. 

The initiative will also help control congestion at the airport, said Air India chief customer experience officer Rajesh Dogra. 

Air India has also introduced a ‘Fare Lock’ feature to its ticket booking flow on the airline’s website. The feature allows customers to lock in or reserve a selected fare for 48 hours for a fixed, nominal fee so that they can finalize their travel itineraries. 

Skyscanner Signs Partnership Agreement With Akasa Air

Online travel agency Skycanner has signed a partnership agreement with budget carrier Akasa Air. As part of the agreement, Skyscanner customers would be able to access domestic and international fares offered by Akasa Air on all platforms of the travel agency. 

Skyscanner provides travelers with different fare options for their air travel. As Akasa Air is rapidly expanding its network, it is increasing its market share in the country. 

“It is critical that we connect travelers with every travel option available to them, and adding Akasa to our offering is a significant step in better serving Indian travelers,” said Hugh Aitken, VP strategic relations and development at Skyscanner. 

Spree Hospitality Signs Hotel in Nagpur

Spree Hospitality, a subsidiary of online travel agency EaseMyTrip, has signed a new property in Nagpur, marking its ninth property in the state of Maharashtra. The 42-key ZiP by Spree Hotels Orient is set to open by the end of July. 

Spree Hospitality operates in the boutique and mid-market segment in India and currently has more than 30 properties across India. The company was acquired by EaseMyTrip in 2021. At the time of the acquisition, the company was looking to reach the 200 mark over a period of five years. 

Recently, the company has opened hotels in Dehradun, McLeod Ganj, and Surat, and signed a hotel in Gurgaon. 

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Tags: air india , Air India Express , airfares , airlines , airport , airports , akasa air , baggage handling , budget hotels , check-in , check-ins , checked bags , checked luggage , delhi , delhi airport , easemytrip , hotels , india outbound , india travel , indian airlines , indigo airlines , IPOs , ixigo , online booking , online booking tools , online travel agencies , online travel companies , regional airlines , regional carriers , skift india report , skyscanner , tourism , Travel Trends

Photo credit: Fights from Hindon airport are meant to complement Air India Express’ Delhi operations. Air India Express

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• Approach to Reporting
• Sustainability at Dabur
• Corporate Information
• About Dabur

Our Presence

Our performance scorecard, chairman's message.

• Q&A with CEO
• Dabur at a Glance
• Rewards and Recognitions

Stakeholder Engagement

Materiality assessment.

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Corporate Governance

Risk management, financial capital, manufactured capital, human capital, natural capital, social & relationship capital, intellectual capital.

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We are believers... Believers in the bounty of Nature... ...in the Power of Science.

We believe in making ancient ayurveda and modern-day science work together to offer our consumers holistic health and well-being..

We believe that goodness should be reflected in our every action......that goodness is something that’s not only worth sharing with the World but also helps make the world a better place.

At Dabur, our endeavour is to maintain the perfect harmony between nature and mankind while we go about our business of delivering the best nature-based solutions for the everyday health and personal care needs of our consumers across the globe.

Sustainability is at the heart of our operations and also embedded in our products. The concept of sustainability is incorporated into the core of our business and has been expanded to encompass our aspirations and responsibilities to the society and to the environment.

Every action at Dabur is a step towards a sustainable future.

This is what keeps us going every day...

Financial performance disclosures, dabur trivia.

Dabur Chyawanprash

teaspoonful of Dabur Chyawanprash consumed a day

Dabur Honey

spoons of Dabur Honey consumed every day

Dabur Pudin Hara

usage occasions of Pudin Hara every day

Dabur Hajmola

tablets of Hajmola are consumed every day

Dabur Amla Hair Oil

Champi (Hair Massage) done every day with Dabur Amla Hair Oil

Dabur Lal Tail

baby massages done every day using Dabur Lal Tail

Dabur Red Paste

people brush their teeth every day with Dabur Red Paste

Dabur Real Juice

glasses of Real juice & beverages consumed every day in India

Our Power Brands

Dabur today operates in key consumer product categories like Health Care, Hair Care, Oral Care, Skin Care, Home Care, Hygiene and Food & Beverages. We have identified 9 Power Brands that together account for 70% of our Total Sales. These include 8 brands in India and one in the overseas markets.

The eight Power Brands in India are: Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur PudinHara and Dabur Lal Tail in the Healthcare space; Dabur Amla and Dabur Red Paste in the Personal Care category; and Real in the Food & Beverages space. Vatika is the only International Power Brad offering a range of natural Personal Care products. Of these Amla, Vatika, Real and Dabur Red Paste are 1,000 Crore brands.

As part of the Power Brand strategy, Dabur has been investing disproportionately behind these brands, expanding the portfolio with the launch of new variants and formats, besides expanding their retail presence across markets. The intent is to invest in improving their visibility, enhancing distribution and driving innovation through new products, variants and format launches, while growing their salience with millennials and Gen-Z consumers. The exercise paid off with the Power Brands growing at a fast pace.

Dabur Honitus

Dabur Vatika

Message from Management

Mr. Mohit Burman

I am honoured to write to you for the first time as the Chairman of Dabur Inda Limited. As I take on the role of the Chairman, I feel immense pride in what our organization has already accomplished, how we have upheld our promise of delivering Health and Well-being to every Household, and I am equally enthusiastic about what the future holds for us.

The past few years have been a period of great contrasts… demanding and satisfying in equal measure. The COVID-19 pandemic fuelled an unprecedented innovation drive that saw Dabur display unparalleled agility to roll out a plethora of purposeful,consumer-centric introductions, rapidly adopt digital advancements and technologies to strengthen its go-to-market strategies while deepening its focus on People and Planet with enhanced investments in creating a greener enterprise. These measures not only helped us survive the pandemic but also emerge stronger and better.

Read complete Interview

Mr. Mohit Malhotra

Q&a session with ceo.

We firmly believe that innovation will continue to be a vital driver of growth for us.

In FY 2022-23, the global supply chain faced disruptions due to geopolitical issues, which resulted in significant increases in commodity prices. This, in turn, led to unprecedented levels of inflation worldwide. Although inflation started to wane towards the end of the year, pockets of stress remained. In response to this inflationary pressure, central banks around the world raised interest rates, causing a slowdown in demand and currency challenges in key markets. Syndicated data showed volume decline across the FMCG sector in India during the first nine months of the year. However, there was some growth observed in the later part of the fourth quarter, mainly driven by the food sector. Rural markets lagged urban markets due to high inflation and consumers shifting to lower-priced alternatives.

Integrated Reporting Capitals

Value creation paradigm & strategy.

Dabur India Ltd is today the world's largest natural and Ayurvedic products maker, delivering holistic health and well-being to a highly diverse set of consumers spread over 120 countries across four continents. Across all our businesses and operations, we have been working towards achieving profitable growth in an ethical, environmentally and socially responsible manner. As a purpose-led enterprise, we strive to create value by balancing the different needs of our stakeholders.

Materiality Asesssment

Our manufacturing assets and supply chain network are key to our achieving manufacturing and operational excellence as we work towards creating efficacious nature-based products to meet the varied needs of our consumers across the globe. Our tech-enabled manufacturing capabilities give us a big competitive advantage as we implement global best practices at our manufacturing facilities and locations and invest in innovation to retain and grow our market share.

Value Creation Paradigm and Strategy

Over the past 139 years, Dabur has built on its reputation of being the Most Trusted and the World’s Largest Natural and Ayurvedic Healthcare company, by developing and successfully introducing products based on Ayurveda to offer our consumers holistic health and well-being. We maintain an edge over our competitors with our over a century long heritage and our highly differentiated brands in the marketplace. While a lot of companies today offer herbal or Ayurvedic products, Dabur enjoys the consumer's trust because of its Ayurvedic heritage. Consumers understand that if a product comes from the House of Dabur, it is truly natural, and of the best quality at the right price.

The name Dabur evokes the feeling of ‘Trust’ in the minds of our consumers and also our investors. As a publicly traded Company, Dabur India Ltd is committed to conduct business with integrity and ensuring adherence to all laws and regulations and achieving highest standards of Corporate Governance. The Company has set the highest standards in transparency to not just maintain but also grow the confidence of all its stakeholders.

Evaluation of opportunities and risks is a constantly evolving field. Dabur recognizes that in the normal course of operations, its activities are routinely exposed to the risks that are both global and local in nature. We proactively seek to identify, manage and, wherever possible, mitigate these risks to the extent possible. At Dabur, we follow an institutionalised ‘Dabur Risk Management Framework’ that allows us to identify risks impacting our business and deploy organization-wide processes for managing these risks.

At Dabur, we recognise that ensuring the stability of our financial base is key to realising our growth ambitions and creating value for all our stakeholders. Our financial capital helps us create a solid foundation for sustained, profitable growth. Our financial position continues to strengthen with every passing year. We have a robust financial management process that assesses the requirement of funds for sustainable business operations as well as for investments towards business sustainability and growth opportunities.

Dabur strives to provide a safe, vibrant and rewarding environment for each member of our over 7,500 Dabur family. Our diverse, experienced and talented employees are our strength in this highly competitive and volatile world. They play a key role in seamless driving of our operations, developing and delivering nature-based solutions on time, every time, with their passion, excellence and innovative spirit.

Our Natural Capital reflects our commitment to become Climate Positive and leave a Greener Planet for Future Generations. At Dabur, we strive to consistently improve environmental performance of our manufacturing operations, products and supply chain. Our responsibility includes managing our environmental footprint to create a positive impact on the environment and support a lowcarbon economy.

Social & Relationship Capital

Dabur is committed to establishing an ecosystem of trust-based relationships with our billions of consumers and the community. We work to foster relationships that are built on Trust. In our 139-year-long journey, we have built an ecosystem based on strong and lasting relations with our stakeholders, including supply chain partners, consumers and communities. At Dabur, we are committed to ensuring that its core our values of Trust, Respect and Care are upheld in our relationships with all our stakeholders as we work towards bringing to life our Vision of being 'Dedicated to the Health & Well-Being of every Household'.

In every stage of our 139-year-long journey, we have been embracing technological developments to drive innovation. We encourage our people to nurture andimplement innovative ideas, which will lead to operational improvements acrossour operations. We believe in accumulating and leveraging our 139-year-longexperience and heritage, our wealth of knowledge, strong brand recall, focus onquality and distribution might to enhance our Corporate Value.