COMPANY PROFILE

Dabur India Limited

REFERENCE CODE: 5EE3E754-8519-481E-8C04-8E603B697251

PUBLICATION DATE: 29 Jan 2015
www.marketline.com
COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED.

Dabur India Limited

TABLE OF CONTENTS

TABLE OF CONTENTS
Company Overview..............................................................................................3
Key Facts...............................................................................................................3
Business Description...........................................................................................4
History...................................................................................................................6
Key Employees...................................................................................................10
Key Employee Biographies................................................................................11
Major Products and Services............................................................................15
Revenue Analysis...............................................................................................19
SWOT Analysis...................................................................................................20
Top Competitors.................................................................................................25
Company View.....................................................................................................26
Locations and Subsidiaries...............................................................................28

Dabur India Limited

MarketLine

Page 2

Dabur India Limited

Company Overview

COMPANY OVERVIEW
Dabur India Limited (Dabur or 'the company') is a fast moving consumer goods (FMCG) company
that manufactures and markets ayurvedic and natural healthcare products. The company sells its
various products through its five flagship brands across natural healthcare products, premium hair
care, digestives, fruit-based beverages, and fairness bleaches and skin care categories.The company
operates in Asia, Africa, the Middle East, the Americas and Europe. It is headquartered in Ghaziabad,
India and employed 6,382 people as of March 31, 2014.
The company recorded revenues of INR70,944.3 million (approximately $1,177.7 million) during the
financial year ended March 2014 (FY2014), an increase of 15% over FY2013. The operating profit
of the company was INR10,589.4 million (approximately $175.8 million) in FY2014, an increase of
17.3% over FY2013. The net profit of the company was INR9,139.2 million (approximately $151.7
million) in FY2014, an increase of 19.7% over FY2013.

KEY FACTS
Head Office

Dabur India Limited

Kaushambi
Ghaziabad
Uttar Pradesh 201010
IND

Phone

91 120 3982000

Fax

91 120 4374935

Web Address

http://www.dabur.com

Revenue / turnover 70,944.3

(INR Mn)
Financial Year End

March

Employees

6,382

Bombay Ticker

500096

National Stock
Exchange of India
and MCX Stock
Exchange Limited
Ticker

DABUR

Dabur India Limited

MarketLine

Page 3

Dabur India Limited

Business Description

BUSINESS DESCRIPTION
Dabur is an Indian consumer goods company that manufactures and sells a variety of products
across personal care, healthcare, homecare and food categories. The company markets its products
in over 60 countries and has its operations spread across the Middle East, Africa, Asia, the Americas
and Europe. Dabur's portfolio comprises of over 400 products positioned across the herbal and
natural space.
The company operates through three key strategic business units, namely: consumer care business,
foods, and international business. However, Dabur reports its revenues under four business segments:
consumer care business, foods, retail and others.
The consumer care business is the largest business unit within Dabur and consists of its core FMCG
businesses. This unit is further divided into three key portfolios: healthcare, personal care and home
care.
Dabur's healthcare portfolio consists of Ayurveda-based offerings including Ayurveda-based
over-the-counter (OTC) products, and branded ethical and classical products, such as health
supplements, and digestives. The health supplement products include Dabur Chyawanprash (in two
variants: Dabur ChyawanPrakash and Dabur Chyawan Junior), Dabur Glucose and Dabur Honey.
The Ayurveda-based digestive products include the Hajmola tablets, Hajmola candy, Hingoli, Pudin
Hara, Pudin Hara-Lemon Fizz, Nature Care and Sat Isabgol. The Ayurveda-based OTC products
include Dabur Pudin Hara for relief from stomach ache, gas and indigestion, Dabur Active Antacid,
Honitus cough syrup, Shilajit Gold rejuvenator, Dabur Active Blood Purifier, Shankha Pushpi natural
tonic for children, Dabur Badam Oil, Dabur Lal Tail Ayurvedic baby massage oil, Dabur Janma Ghunti
for stomach ailments in infants, Dabur Gripe Water for infants, and Dabur Balm Strong for headaches.
The personal care products range includes herbal and ayurvedic hair care, oral care, and skin and
body care products. The hair care products include hair oils and shampoos under brands Dabur
Amla, Dabur Almond, and Vatika. The skin and body care range includes two major brands Fem
and Gulabari. The Fem brand offers fairness bleaches and hair removing creams while the Gulabari
brand offers rose-based skin care products.The company also offers Dabur Uveda range of products
for fairness, moisturizing, clarifying, repair, anti-ageing and sun block purposes. The oral care
products include Dabur Red toothpaste, Babool toothpaste, Meswak toothpaste, Promise toothpaste
and Lal Dant Manjan Ayurvedic toothpowder.
The home care range of products include Odomos mosquito repellent, Odonil air fresheners, Sanifresh
Shine toilet cleaner and Odopic dish wash products.
Dabur's food products include Real fruit juice, Activ unsweetened juices, Burrst fruit beverage,
Hommade cooking pastes, Lemoneez lemon juice, and Capsico red pepper sauce.

Dabur India Limited

MarketLine

Page 4

Dabur India Limited

Business Description

The international business unit includes Daburs organic overseas business as well as the acquired
entities of Hobi Group and Namaste Laboratories. The companys major international markets are
the Middle East, Africa, Asia (excluding-India), the Americas and Europe (including Turkey). The
company has manufacturing facilities in the UAE, Egypt, Nigeria, Turkey, Nepal, Bangladesh and
Sri Lanka.
In addition, the company operates specialized beauty retail business through the wholly-owned
subsidiary H&B Stores. The retail business operates a chain of beauty retail outlets under the brand
name NewU. At the end of FY2014, the company had 46 retail stores in India. These stores offer a
wide range of beauty care products and are mainly located in premium footfall malls. NewU also
offers a range of beauty products in body lotion, body washes, make-up remover and lip balms
categories under its own private label Zensual.

Dabur India Limited

MarketLine

Page 5

Dabur India Limited

History

HISTORY
Dabur was founded by Dr. S K Burman in 1884, starting from a small shop in Calcutta from where
he began a direct mailing system to send his medicines.
During 1896, the demand for the fledgling company's medicines grew, necessitating the mass
production of some of the medicines. As a result, Dr. Burman established a small manufacturing
plant at Garhia near Calcutta.
In the early 1900s, the next generation of Burman's took a conscious decision to enter the ayurvedic
medicines market. By 1919, the company began a search for processes to suit the mass production
of ayurvedic medicines without compromising on basic ayurvedic principles. This led to the
establishment of the first research and development (R&D) laboratory at Dabur.
In 1920, a manufacturing facility for ayurvedic medicines was set up at Narendrapur and Daburgram.
The company's distribution network was also expanded to Bihar and the northeast.
Dabur India Pvt. Ltd was incorporated by the company in 1936. In 1940, the company diversified
into personal care products with the launch of its Dabur Amla Hair Oil. In 1949, Dabur launched
Dabur Chyawanprash, the first branded Chyawanprash of India.
Dabur's growth and expansion continued over the following decades and Dabur expanded its personal
care portfolio by adding oral care products. In 1972, the company shifted its base to Delhi from
Calcutta and started production from a manufacturing facility at Faridabad.
The company launched Hajmola tablet, a branded ayurvedic medicine, in 1978. In the following year,
Dabur Research Foundation was established and commercial production started at Sahibabad.
In 1986, Dabur became a public limited company through a reverse merger with Vidogum Limited,
and was re-christened Dabur India Limited. The company launched Hajmola Candy in 1989.
Dabur entered into a joint venture with Agrolimen of Spain for the manufacture and marketing of
confectionery in India, in 1992. The oncology formulation plant at Baddi, Himachal Pradesh was set
up in 1993.
In 1994, Dabur made first public issue of shares, with the reorganization of the business, through
the division of the sales, marketing and business into three distinct divisions, occurring in the same
year. That year the company entered into the oncology market with the launch of Intaxel (Paclitaxel).
The company entered into a joint venture with Osem of Israel, for food, and Bongrain, for cheese
and other dairy products, in 1995. It launched Real Fruit Juice in 1996 and established foods division
in 1997.

Dabur India Limited

MarketLine

Page 6

Dabur India Limited

History

The company entered into OTC women's care market with the launch of Efarelle Comfort for Menstrual
Pain in 2000.
Dabur's pharmaceuticals division launched Thalidomide, a new drug formulation for treating Multiple
Myeloma, a type of blood cancer, and Erythma Nodosum Leprosum (ENL), a painful skin condition
associated with Leprosy, in 2002.
In 2003, the company demerged its pharmaceuticals business from the FMCG business into a
separate company. The company acquired Balsara Hygiene and Home Products (based in Mumbai)
in 2006.
Dabur merged its wholly-owned subsidiary Dabur Foods Limited with itself in 2007. In the same
year, the company entered into a rural retail agreement with Indian Oil Corporation (IOC) to serve
the rural market demand for consumer goods through IOC's chain of Kisan Seva Kendra.
In 2008, the company's retail subsidiary, H&B Stores, opened its first beauty, health and wellness
retail store in India, in the Rajouri Garden, Delhi.
H&B Stores opened its fourth new outlet in Bangalore in 2009. In the same year, Dabur acquired
Fem Care Pharma, a provider of women's skin care products.
In 2010, Dabur acquired Hobi Kozmetik Group, a personal care products company in Turkey, for
$69 million. Dabur acquired 100% equity in Namaste Laboratories and its three subsidiary companies,
Hair Rejuvenation & Revitalization Nigeria Limited, Healing Hair Laboratories International, and
Urban Laboratories International, along with its South African arm for $100 million, in an all-cash
deal towards the end of 2010.
In 2011, the company acquired Ajanta Pharma's OTC energizer brand '30-Plus'. In the same year,
the company entered the Indian mint candy market with the launch of Hajmola Mint Masti.
Dabur entered the largely unorganized and unbranded categories in the aroma products market of
India with the launch of Odonil Occasions, a special package of different formats of home fresheners,
in 2011. With this launch, Dabur positioned Odonil as a complete air freshening brand for every
space in homes.
Further in 2011, the company entered the Sri Lankan fruit-based beverages market with the setting
up of an overseas subsidiaryDabur Lanka (Pvt.) Ltd. Later in 2011, the company launched Dabur
Almond Hair Oil that offers superior nourishment for 100% damage-free hair. During the same year,
Dabur entered the professional skin care market with the launch of OxyLife Professional Facial Kit,
designed exclusively for professional use. Also in 2011, the company launched its first online shopping
portal, www.daburuveda.com. With this, Dabur became the first Indian FMCG company to launch
a dedicated online shopping portal for its beauty products range.

Dabur India Limited

MarketLine

Page 7

Dabur India Limited

History

Dabur launched its rose-based beauty care brand, Dabur Gulabari, in a new-look Beauty Pack in
2012. In the same year, Ayurveda! Dabur Uveda, the ayurvedic skin care expert from Dabur, entered
the sunscreen market with the launch of Dabur Uveda Sunblock Cream SPF 30, the first ayurvedic
sunscreen that prevents tan and lightens skin tone. Also in 2012, New U opened two flagship outlets
in Khan Market and Defence Colony in South Delhi.
Further in 2012, the company re-launched its health rejuvenator and energizer brand, 30-Plus, with
a new formulation. During the same time, Dabur re-launched its natural hair care brand Vatika with
premium natural ingredients. Towards the end of 2012, Odonil, the home and air freshening brand
of Dabur, entered the gel market with the launch of Odonil Good Living range of refreshing air
freshening gels. Around the same time, Dabur expanded its fruit beverage range, Real Activ Fiber+,
with the launch of two new fruit-mix variantsbanana strawberry and green apple punch.
In 2013, the company expanded its oral care portfolio with the launch of Dabur Super Babool+Salt
Power Toothpaste, India's first natural toothpaste with two oral care ingredients, Salt and Babul
'Acacia Arabia' extracts. In the same year, Dabur launched healthy fruit juice-based drinking yoghurts
under the Real Activ brand. Also in 2013, the company was listed on MCX Stock Exchange Limited,
India's new stock exchange. During the same time, Dabur Lanka, along with Board of Investment
of Sri Lanka, opened a packaged fruit-based beverage manufacturing facility in Mirigama, Sri Lanka.
This new manufacturing facility has a capacity to produce 280,000 cases of fruit-based beverages
every month under the brand name Real.
The company expanded its skin care portfolio with the launch of the world's first Gel-based facial
bleach, Oxy Life Gel Bleach with Aloe Vera, in mid-2013. During the same time, Dabur launched
new sub-brand in its packaged fruit juice category known as Real SUPAFruits. The range was
launched with two variants, Real SUPAFruits Strawberry-Plum and Real SUPAFruits Goji Berry Pink
Guava.
Further in 2013, Dabur entered the specialized male grooming market with the launch of OxyLife
Men CrAme Bleach and specialized male professional facial bleach targeting the men's beauty salon
& parlor market. In the same year, the company launched a standalone oral health portal,
www.daburdentalcare.com, which will be a one-stop shop for all oral hygiene needs of consumers.
The company launched Vatika Enriched Coconut Oil with hibiscus in 2013.
Dabur forayed into the packaged milk shake market with the launch of Real Fruit Shakes under the
Real brand name in 2013. In the same year, the company launched a new range of shampoo and
hair oil products fortified with hibiscus under its Vatika brand.
Towards the end of 2013, Dabur launched a new range of skin bleach, free of ammonia and containing
natural ingredients like saffron, milk and vitamin E, under the 'Fem Fairness Naturals' name. During
the same time, Dabur International incorporated a new wholly-owned subsidiary in Tunisia, Dabur
Tunisie.
In January 2014, the company launched Vatika Olive Enriched Hair Oil, further strengthening its
presence in the perfumed light hair oil market. In the following month, Dabur launched India's first

Dabur India Limited

MarketLine

Page 8

Dabur India Limited

History

ayurvedic medical journal, Ayurveda Samvad. It is a quarterly publication covering detailed information
about the various clinical trials being conducted on ayurvedic medicines.
In April 2014, Dabur expanded its packaged food business with the launch of 100% natural Tender
Coconut Water under the Raal Activ brand. This product contains no added sugar and preservatives.
The company expanded its brand Hajmola into the pure confectionery space with the launch of
Hajmola Chuzkara, a semi-liquid candy, in May 2014. Odomos, a brand of the company, forayed
into the wearable mosquito repellent products market with the launch of Odomos wristbands and
patches in September 2014. During the same time, the Odomos brand also entered into an agreement
with Pogo, under which Odomos will use the image of Pogo's Chota Bheem to adorn the wristband
and mosquito repellent patches.
In December 2014, Dabur launched Dabur Anmol Coconut Hair Oil with Jasmine, which is a blend
of coconut, almond and jasmine.
The company launched its flagship healthcare brand Dabur Chyawanprash in new chocolate-flavored
variant in January 2015, marking the first product for Dabur Chyawanprash and for the healthcare
industry in India.

Dabur India Limited

MarketLine

Page 9

Dabur India Limited

Key Employees

KEY EMPLOYEES
Name

Job Title

Board

Sunil Duggal

Chief Executive Officer

Executive Board

64345680 INR

P.D. Narang

Group Director, Corporate Affairs

Executive Board

64466389 INR

Anand C. Burman

Chairman of the Board

Non Executive Board

90000 INR

Amit Burman

Vice Chairman of the Board

Non Executive Board

120000 INR

P. N. Vijay

Independent Director

Non Executive Board

240000 INR

R. C. Bhargava

Independent Director

Non Executive Board

165000 INR

S. Narayan

Independent Director

Non Executive Board

105000 INR

Ajay Dua

Independent Director

Non Executive Board

240000 INR

Sanjay Kumar Bhattacharyya Independent Director

Non Executive Board

75000 INR

Falguni Nayar

Independent Director

Non Executive Board

Mohit Burman

Director

Non Executive Board

60000 INR

Saket Burman

Director

Non Executive Board

60000 INR

A. K. Jain

Vice President, Finance and

Company Secretary

Senior Management

Rajat Nanda

Category Head, Hair Oils

Senior Management

Ajay Parihar

Category Head, Health Supplements Senior Management

Praveen Jaipuriar

Marketing Head, Personal Care

Senior Management

Ajay Motwani

Marketing Head, Home Care

Senior Management

Monisha Prasher

Brand Head, Dabur Chyawanprash Senior Management

Dabur India Limited

MarketLine

Compensation

Page 10

Dabur India Limited

Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Sunil Duggal
Board: Executive Board
Job Title: Chief Executive Officer
Since: 2002
Age: 57
Mr. Duggal has been the Chief Executive Officer at Dabur since 2002. He joined the company in
1995 as the General Manager of Sales and Marketing of the Family Products Division. In 2000, Mr.
Duggal was appointed the Director of Sales and Marketing at the company. He started his career
as a Management Trainee at Wimco Limited in 1981. In 1994, Mr. Duggal moved to Pepsi Foods
as the General Manager of Sales Operation. He also serves as a Director at Asian Consumercare
Private Limited, Dabur International Limited, H & B Stores, Weikfield International, and Hobi Kozmetic,
among others.

P.D. Narang
Board: Executive Board
Job Title: Group Director, Corporate Affairs
Since: 2003
Age: 60
Mr. Narang has been the Group Director of Corporate Affairs at Dabur since 2003. He joined the
company in 1983 as a Management Consultant. Mr. Narang was appointed the General Manager
of Finance and Company Secretary in 1990 and as the Director of Corporate Affairs in 1998. He
was given the responsibility of heading the Corporate and Commercial affairs of the company in
2002. Mr. Narang also serves on the Boards of Dabur Egypt, Aviva Life Insurance Co., Dabon
International Pvt. Ltd., Dabur Foods, Dabur Pharma, Dabur International Ltd., Asian Consumercare,
Dabur Pharmaceuticals Limited, Dabur Nepal, Dabur Research Foundation, Dabur Securities, Dabur
Finance, Dabur Ayurvedic Specialities, Sanat Products, Welltime Housing & Finance, and Narang
Management Consultants.

Anand C. Burman
Board: Non Executive Board
Job Title: Chairman of the Board
Dr. Burman is the Chairman of the Board at Dabur. He is also the Managing Director at Dabur
Oncology plc UK, a subsidiary of Dabur Pharma. Dr. Burman also serves as a Director at ACEE
Enterprises, Aviva Life Insurance Company India, Dabur Research Foundation, Excellent (India)

Dabur India Limited

MarketLine

Page 11

Dabur India Limited

Key Employee Biographies

Private Limited, H & B Stores, Hindustan Motors Limited, Puran Associates Private Limited, and
Ester Industries Limited, among others.

Amit Burman
Board: Non Executive Board
Job Title: Vice Chairman of the Board
Mr. Burman is the Vice Chairman of the Board at Dabur. He was the Chief Executive Officer at Dabur
Foods from 1999 to 2007. Mr. Burman obtained experience at Colgate Palmolive (New York, the
US), where he worked in the Manufacturing Strategy Department. He also worked for six months at
the Kansas plant which manufactured soaps and detergents. In 1990, Mr. Burman trained at Tishcon
Corporation New York, the US, where he was responsible for safety of stock and optimum inventories.
He also serves on the Board at Angel Softech Private Limited, Azure Infotech Private Limited,
Chowdry Associates, Dabur Nepal Private Limited, Lite Bite Foods Private Limited, and Q H Talbros
Limited, among others.

P. N. Vijay
Board: Non Executive Board
Job Title: Independent Director
Since: 2001
Age: 63
Mr.Vijay has been an Independent Director at Dabur since 2001. He has been the Managing Director
at P.N Vijay Financial Services since 1990. From 1986 to 1990, Mr. Vijay was the Vice President
and Country Head of Merchant Banking at Citibank; and from 1978 to 1985, he served at ANZ Grind
lays Bank in Merchant Banking division. He was an Officer of Credit Appraisal Cell at State Bank of
India from 1972 to 1978. Currently, Mr. Vijay also serves as a Director at Reed Relay & Electronics
India Limited and One97 Communications.

R. C. Bhargava
Board: Non Executive Board
Job Title: Independent Director
Since: 2005
Age: 80
Mr. Bhargava has been an Independent Director at Dabur since 2005 . He has also been the President
and Chief Executive Officer at RCB Consulting since 1998. His past roles include Chief Executive
Officer at Maruti Udyog from 1985 to 1997; Director of Commercial at Bharat Heavy Electricals from
1979 to 1981; Joint Secretary to the Government of India, Cabinet Secretariat from 1977 to 1978;
Joint Secretary to the Government of India, Ministry of Energy from 1974 to 1977; Special Assistant
to the Union Minister for Energy, the Government of India from 1973 to 1974; and Agricultural

Dabur India Limited

MarketLine

Page 12

Dabur India Limited

Key Employee Biographies

Production Commissioner and Secretary from 1968 to 1973. Mr. Bhargava also serves on the Board
at ILFS Limited, Taj Asia Limited, Polaris Financial Technology, and Grasim Industries Limited,
among others.

S. Narayan
Board: Non Executive Board
Job Title: Independent Director
Since: 2005
Age: 71
Dr. Narayan has been an Independent Director at Dabur since 2005. He has nearly four decades
of experience in public service in the State and Central Governments, in Development administration.
From 2003 to 2004, Dr. Narayan was an Economic Adviser to the Prime Minister. Prior to this
assignment, he worked for the Government of India as Finance and Economic Affairs Secretary,
Secretary in the Departments of Revenue, Petroleum, Industrial Development and Coal from 1997.
Dr. Narayan is visiting faculty at several academic institutions including the National Academy at
Mussoorie. He is also a Director at Apollo Tyres, Godrej Properties, Seshasayee Paper and Board,
Aviva Life Insurance Co. India, and Teesta Urja.

Ajay Dua
Board: Non Executive Board
Job Title: Independent Director
Since: 2009
Age: 67
Dr. Dua has been an Independent Director at Dabur since 2009. He held a variety of senior
assignments in the Government of Maharashtra and the Government of India, including Managing
Director of industrial promotion corporations, and Joint Secretary in the Union Ministry of Power. Dr.
Dua was also the Secretary in the Department of Industrial Policy & Promotion of the Ministry of
Commerce and Industry, Government of India from 2005 and 2007. Currently, he is a Senior Business
Advisor/Board member at several multinational corporations. Dr. Dua also serves as a Director at
Aviva Life Insurance Co. India.

Sanjay Kumar Bhattacharyya

Board: Non Executive Board
Job Title: Independent Director
Since: 2012
Age: 64
Mr. Bhattacharya has been an Independent Director at Dabur since 2012. He is the former Managing
Director and Chief Credit and Risk Officer at State Bank of India. Mr. Bhattacharya is a senior level

Dabur India Limited

MarketLine

Page 13

Dabur India Limited

Key Employee Biographies

banker with more than 38 years of experience spanning International and Corporate Banking across
geographies, Retail Banking, Credit and Risk Management, Liability Management, and Human
Resource Management as Chief Executive Officer of three banks, including State Bank of India,
State Bank of Bikaner & Jaipur and SBI (International) Mauritius.

Falguni Nayar
Board: Non Executive Board
Job Title: Independent Director
Ms. Nayar serves as an Independent Director at Dabur. She is the Founder and Chief Executive
Officer at Nykaa.com. Previously, she served at Kotak Mahindra Bank. Prior to joining the Kotak
Mahindra Bank, Ms. Nayar served as a Consultant at A. F. Ferguson & Co. Earlier, she also served
as India Advisor at Temasek, a subsidiary of Temasek Holding Singapore and was a founding
member at the Asia Society in India, and a board member at Business Standard. Currently, she is
also a Director at Tata Motors Limited and ACC limited.

Mohit Burman
Board: Non Executive Board
Job Title: Director
Since: 2007
Age: 46
Mr. Burman has been a Director at Dabur since 2007. He started his career with Welbeck Property
Partnership London and then joined Dabur Finance Ltd. as Senior Manager. Mr. Burman also serves
as a Director at A.V.B. Finance, ACEE Enterprises, Aviva Life Insurance Company India, Bonjour
Investment Company, Burman Finvest, Burman Resorts, and Dabur Ayurvedic Specialities among
others.

Saket Burman
Board: Non Executive Board
Job Title: Director
Mr. Burman is a Director at Dabur. He also serves as a member or an Adviser on a number of
entrepreneurial and angel investing groups. Mr. Burman is also a Director at Dabur Egypt, Dabur
Egypt Trading, and Dabur International.

Dabur India Limited

MarketLine

Page 14

Dabur India Limited

Major Products and Services

MAJOR PRODUCTS AND SERVICES

Dabur is a FMCG company that manufactures and markets ayurvedic and natural healthcare products.
The company's key products include the following:
Products:
Healthcare products:
Health supplements:
Ayurvedic tonics
Glucose
Honey
Digestive products:
Herbal digestives
Digestive candies
Digestive mints
Consumer health-OTC products:
Memory enhancers
Cough and cold medicines
Rejuvenation medicines
Gastro-intestinal medicines
Medicated oils
Baby care products
Women's health products
Rubs and balms
Personal care products:
Oral care products:
Toothpastes
Toothpowders
Hair care products:
Shampoo
Amla hair oil
Coconut hair oil

Dabur India Limited

MarketLine

Page 15

Dabur India Limited

Major Products and Services

Almond hair oil

Skin care products:
Fairness creams
Moisturizers
Clarifying creams
Repair creams
Anti-ageing creams
Sun block creams
Face fresheners
Rose water
Cold creams
Bleach products
Hair removal creams
Hand wash
Food products
Juices:
Fruit juices
Unsweetened fruit juices
Unsweetened vegetable juices
Culinary range:
Cooking pastes
Tomato puree
Coconut milk
Red pepper sauce
Home care products:
Air care
Mosquito repellent creams
Surface cleaners
Dish-washing products
Consumer health (ethical):
General health products
Lung support products

Dabur India Limited

MarketLine

Page 16

Dabur India Limited

Major Products and Services

Digestive support products

Cardiac support products
Joint support products
Uterine support products
Professional grooming products:
Facial creams
Body bleaches
Brands:
Healthcare products:
Dabur Chyawanprash
Dabur Honey
Glucose-D
Hajmola
Pudin Hara
Nature Care
Sat Isabgol
Dabur Shankha Pushpi
Dabur Active Antacid
NUTRiGO
Dabur Gripe Water
Dabur Active Blood Purifier
Honitus Lozenges
Shilajit Gold
Dabur Lal Tail
Dabur Janma Ghunti
Dashmularishta,Ashokatrishta
Oral care products:
Dabur Red
Babool
Meswak
Promise
Dabur Lal
Hair care:
Anmol
Dabur Amla
Vatika

Dabur India Limited

MarketLine

Page 17

Dabur India Limited

Major Products and Services

Skin care products:

Gulabari
Uveda
Fem
Food products:
Real
Activ
Burrst
Hommade
Lemoneez
Capsico
Home care products:
Odonil
Odomos
Sanifresh
Odopic
Consumer health (ethical):
Broncorid
Madhuvaani
Lipistat
Rheumatil
Mensta
Professional grooming products:
OxyLife
Fem Queen's
Fem Gold
Fem Body

Dabur India Limited

MarketLine

Page 18

Dabur India Limited

Revenue Analysis

REVENUE ANALYSIS
Overview
Dabur recorded revenues of INR70,944.3 million (approximately $1,177.7 million) in FY2014, an
increase of 15% over FY2013. For FY2014, India, the company's largest geographic market,
accounted for majority of the total revenues.
The company generates revenues through four business segments: consumer care business (84.7%
of the total revenues in FY2014), foods (12.4%), retail (1%) and others (1.9%).
Revenues by segment*
In FY2014, the consumer care business segment recorded revenues of INR59,880.2 million
(approximately $994 million), an increase of 16.5% over FY2013.
The foods segment recorded revenues of INR8,782.5 million (approximately $145.8 million) in
FY2014, an increase of 17.9% over FY2013.
The retail segment recorded revenues of INR717.1 million (approximately $11.9 million) in FY2014,
an increase of 19.6% over FY2013.
The others segment recorded revenues of INR1,352.3 million (approximately $22.4 million) in FY2014,
a decrease of 32.3% compared to FY2013.
*Sum of revenues by segment differs with the total revenues as revenues from sale of services and
other operating revenues are not included.

Dabur India Limited

MarketLine

Page 19

Dabur India Limited

SWOT Analysis

SWOT ANALYSIS
Dabur is a FMCG company that manufactures and markets ayurvedic and natural healthcare products.
The company is one of the largest Indian consumer goods company. Strong market position imparts
distinct competitive advantage to Dabur and facilitates revenue and business expansion growth
prospects for the company. However, Dabur faces stiff competition from international players like
Colgate-Palmolive and Unilever against their respective brands. With their much higher penetration
rates, room for growth is very limited for the company.
Strengths

Weaknesses

Strong market position

Presence in the niche natural/herbal
segment
Focus on new product launches

Increasing taxes and tax rates

Opportunities

Threats

Low penetration levels in rural India to offer

room for growth across consumption
categories
Positive outlook for personal care market
Growing OTC pharmaceuticals market in
India

Severe competition from international

players in the oral care and hair care
categories
Changing cosmetic trends

Strengths

Strong market position

Dabur is one of the largest Indian consumer goods companies with interests in hair care, oral care,
health care, skin care, home care and food sectors. Dabur was ranked among India's top 30 brands
in 2014 by an industry source specializing in brand services and activities. It was also ranked among
India's top 500 companies in 2014 released by a business newspaper.
Dabur has a strong presence in many of the FMCG categories. The company holds number one
position in several categories, including ayurvedic tonics, honey, herbal digestives, ayurvedic OTC,
mosquito repellant creams, air fresheners, skin lightening (bleaches), and fruit juices with key brands
such as Dabur Chyawanprash, Dabur Honey, Hajmola, Pudin Hara, Odonil, Odomos, Fem, Real
Fruit Juices, and Real Activ. Furthermore, Dabur commands second position in glucose category
with its Dabur Glucose brand, in toilet cleaners category with Sanifresh brand, in hair oils category
with Dabur Amla and Vatika brands, and in toothpowders category with Dabur Red brand. The

Dabur India Limited

MarketLine

Page 20

Dabur India Limited

SWOT Analysis

company also holds number three position in toothpastes category with Dabur Red, Babool, and
Meswak brands and number four position in shampoos category with Vatika brand.
Outside India, the companys hair oil market share in Saudi Arabia increased from 66% in FY2013
to 69% in FY2014. Dabur also witnessed increase in its market share in the hair creams category
to 35% in FY2014 compared to 29.5% last year. In the UAE, the companys hair creams market
share increased to 33% in FY2014 from 29% last year. In Egypt, Dabur maintained its leadership
position in hair oils and its market share increased substantially to 62% in FY2014 as compared to
53% last year. In hair creams as well, the company maintained its leadership position with a 56%
market share.
Strong market position imparts distinct competitive advantage to Dabur and facilitates revenue and
business expansion growth prospects for the company.
Presence in the niche natural/herbal segment
The Indian FMCG industry consists of several Indian and international companies with major presence
in food and beverage, personal care, oral care, home care or OTC pharmaceuticals space. Dabur,
on the hand, has made its strong presence felt in the niche space of natural and herbal products
space, not just in the domestic market, but also internationally. Dabur is not just the fourth largest
FMCG company in India, but also the world's largest ayurvedic and natural healthcare company.
The company has a strong portfolio of niche products that include branded honey, ayurvedic tonics
and herbal digestives. Dabur has been a pioneer in the Indian market with each of these product
offerings. Honey, typically used in home remedies in most Indian homes, is positioned as a breakfast
spread with health benefits by the company. Currently, the company commands more than 75% of
the Indian branded honey market. Dabur Chyawanprash, another pioneering product offering in the
health tonics segment, is the largest selling Ayurvedic medicine with over 65% market share. Dabur
Chyawanprash is based on a 2,500-year-old Ayurvedic formula and is a combination of herbs and
plant extracts in a base of Amla fruit pulp. This product is offered in several variants and flavors,
each catering to the unique needs of its niche consumer segments such as kids, diabetic patients
and calorie-conscious consumers. In the herbal digestives space as well, Dabur is the pioneer and
also the number one player with its Hajmola offerings. The Hajmola brand commands nearly 60%
of the market share of digestive tablets category. Overall, the company commands almost 90% of
the herbal digestives market share in India with its various offerings. With a strong presence in such
niche product categories, Dabur has very low/negligible competition in the above-mentioned markets.
Focus on new product launches
Despite enjoying a market leadership position in several of its product categories, Dabur has always
been focused on innovating to meet its ever-changing consumer preferences. For instance, in
FY2014, the company launched a premium health supplement called Dabur Ratnaprash, Vatika
Olive Enriched Hair Oil, Vatika Enriched Coconut Oil with Hibiscus, Vatika Premium Naturals Shampoo
with Hibiscus and Reetha, and Fem Fairness Naturals with no added ammonia. The company also
launched new Ayurvedic ethical medicines in different therapeutic areas, Indias first range of drinking

Dabur India Limited

MarketLine

Page 21

Dabur India Limited

SWOT Analysis

yoghurts under the brand Real Activ, and fruit-milk shakes under the brand Real. During the same
time, Dabur also launched a new Anardana variant of Hajmola tablets. Currently, the companys
products directly reach more than 38,250 villages. Furthermore, in the international market, the
company introduced Amla leave-on oils, Fem Gold hair removing cream, Dermoviva face wash,
Dermoviva face scrub, Vatika hair mayonnaise, Vatika hair color creme, Fem halawa, straightening
and strengthening treatment by HAIRepai under the brand ORS, among others.
Each of the new launches was well-researched and test-marketed before launching in the market.
Dabur has an in-house research center, Dabur Research & Development Centre (DRDC), which
conducts detailed tests on individual ingredients and products to ensure that the final products meets
customer needs. Additionally, the companys research team also focuses on ways to recycle and
re-use the herbal waste and to effectively conduct life cycle analysis of its products, besides
developing new products. By performing the life cycle analysis of its products, the company can
identify risks and opportunities along the entire value chain. Also, Dabur has been conducting
scientific research and third-party clinical trials on its products to prove the efficiency of its various
products and their ingredients, and to ensure better delivery of value to its consumers. Nearly 12
preclinical and three clinical studies were organized by the DRDC team in FY2014.
A keen focus on continuous innovation is helping the company bring to market newer products and
newer versions of its existing products. While the company already commands market leadership
in most of these product categories, continuous innovation is helping the company avoid competition
in its niche products space.

Weaknesses

Increasing taxes and tax rates

The company's taxes and tax rates have been increasing over past few years. The taxes of Dabur
increased from INR190 million (approximately $3.2 million) in FY2005 to INR2,190 million
(approximately $36.4 million) in FY2014, representing a compound annual growth rate (CAGR) of
31%. In FY2014 alone, the company's tax expense increased 19.7% over the past year. This, in
turn, is leading to an increase in the tax rates for Dabur over the years. During FY2014, effective
tax rate for the company increased to 19%, compared to 17% in FY2010. This continuous increase
in tax rates could have a significant impact on the company's margins in the long run and increase
the burden on its operational performance.

Opportunities

Low penetration levels in rural India to offer room for growth across consumption categories
Unlike in the more developed Western markets, the Indian market has a huge untapped rural market
that is continuously offering opportunities for growth in the consumer goods sector. Rising income

Dabur India Limited

MarketLine

Page 22

Dabur India Limited

SWOT Analysis

levels and efforts by marketers to tap the consumer base at the bottom of the pyramid are paying
off to create opportunities in rural India. According to industry sources, the Indian FMCG sector is
estimated to reach a market size of INR4,000 billion ($66.4 billion) to INR6,200 billion ($102.9 billion)
by 2020. While the growth in FMCG sector in India is poised to grow, low penetration rates are seen
in the rural areas as compared to urban areas. Products like shampoos, hair oil and toothpastes
have very high penetration in urban India (69%, 84% and 91%, respectively). On the other hand,
penetration rates in rural India for the same products is lower; 56%, 72% and 63%, respectively, for
shampoos, hair oil and toothpastes.The urban-rural penetration gap is much pronounced for products
like toilet cleaners (12% rural penetration versus 45%) and glucose (10% versus 21%).This represents
a huge opportunity for FMCG companies such as Dabur to shift their revenue mix in favor of rural
markets.
Low penetration rates, along with increasing personal disposable incomes of Indian, especially rural
consumers, are leading to increased demand for quality and branded goods. The growing influence
of media penetration is also being a key influencer on lifestyle and consumption patterns, leading
to immense market opportunities for FMCG players.
Positive outlook for personal care market
The personal care market has been expanding rapidly due to the increasing purchasing power and
growing consumer interest. According to industry estimates, the personal care category in India
represents 22% of the total market revenue of the Indian FMCG sector. In addition, the demand for
cosmetics and personal grooming products has been on the rise due to the increasing popularity of
beauty contests, increasing disposable incomes coupled with the growth in the Indian fashion industry.
According to industry sources, the cosmetics market in India is growing at a rate of 20% annually.
Dabur offers a range of personal care products such as shampoos, hair oils, rose water, bleaches,
hair removal products, fairness creams, cold creams, moisturizers, clarifying creams, repair creams,
anti-ageing creams and face fresheners under Dabur, Vatika, Fem and Dabur Uveda brand names.
It also offers professional grooming products such as OxyLife facial kit, Fem Queen's Pearl
Professional Facial Kit with oyster pearl extract, Fem Gold Professional Facial Kit formulated with
Real Gold particles, special anti-ageing properties and other moisturizing ingredients, and Fem
Turmeric Body Bleach. Thus, positive outlook for the personal care products market indicates steady
revenues for Dabur in near term.
Growing OTC pharmaceuticals market in India
The OTC pharmaceuticals market in India is growing at a steady rate. The OTC pharmaceuticals
market consists of the retail sale of traditional medicines, cough and cold preparations (tablets,
mixtures, lozenges, topical remedies and inhalers), and indigestion preparations (tablets, powders
and mixtures), among others. According to MarketLine, the Indian OTC pharmaceuticals market
grew by 9.1% in 2013 to reach a value of $2,273.6 million. In 2013, India accounted for 4.6% of the
Asia-Pacific OTC pharmaceuticals market value. The OTC pharmaceuticals market in India is
estimated to grow at a CAGR of 8.7% for the five-year period 201318.

Dabur India Limited

MarketLine

Page 23

Dabur India Limited

SWOT Analysis

Dabur offers a range of consumer health-OTC products such as memory enhancers, cough and
cold medicines, rejuvenation medicines, gastro-intestinal, medicated oils, baby care products,
women's health products, and rubs and balms. The company also offers digestive products. By
leveraging its product offering, the company can tap into the growing OTC pharmaceuticals market
for its top line growth.

Threats

Severe competition from international players in the oral care and hair care categories
Although the company enjoys a market leading position in several of its niche product markets, such
as herbal digestives and health tonics, in several other FMCG categories including personal care
and oral care, Dabur faces stiff competition from both domestic and international players. Especially,
in the oral care, Dabur faces stiff competition from international players like Colgate-Palmolive and
Unilever against their respective brands of Colgate and Pepsodent. Likewise, in the hair care category,
the company's Vatika and Dabur Amla brands compete with many top brands, including Sunsilk or
Dove from Unilever. Apart from these international brands that largely cater to the urban consumers
in India, Dabur's hair care brands also face severe competition from the low-priced domestic brands
such as Chik from CavinKare and Parachute from Marico.
Additionally, with much higher penetration rates in the oral care and hair care markets of India, both
in the rural and urban markets, room for growth is very limited for the company, unless it aims to
eats into the competitors' shares through high product differentiation.
Changing cosmetic trends
Beauty conscious consumers are increasingly using new technologies such as advanced dermatology,
cosmetic surgery, hair transplant and other treatments to enhance their beauty. Not only are the
results from these treatments instant, but they are also long lasting. The Indian cosmetic surgery
industry is witnessing significant growth, triggered by increasing consumer awareness, direct marketing
and advertising campaigns, and technological advances in surgical and non-surgical procedures.
According to industry estimates, the cosmetic surgery market in India is growing at 40% per annum.
This could reduce dependence on traditional beauty aids, which could lead to a fall in demand for
the skin and hair care products of Dabur.

Dabur India Limited

MarketLine

Page 24

Dabur India Limited

Top Competitors

TOP COMPETITORS

The following companies are the major competitors of Dabur India Limited

GlaxoSmithKline Consumer Healthcare Ltd.

Colgate-Palmolive (India) Limited
Hindustan Unilever Limited
Marico Limited
Farmax India Limited
Godrej Consumer Products Limited
Bajaj Corp Limited
Emami Limited
Procter & Gamble Hygiene and Health Care Limited
Cavinkare Private Limited

Dabur India Limited

MarketLine

Page 25

Dabur India Limited

Company View

COMPANY VIEW
A statement by Anand C. Burman, the Chairman of the Board at Dabur, is given below. The statement
has been taken from the company's Annual Report for FY2014.
Dear Partners in Growth,
It gives me immense pleasure to write to you at the end of another landmark year for Dabur.
Fiscal 2013-14 marked successful completion of the Vision Plan for the period 2010-14, with revenues
crossing the Rs7,000 crore mark. Your company achieved Net Sales of Rs 7,073.2 crores during
2013-14 growing by 15.1%. Net Profit for the year increased to Rs 913.9 crores recording an increase
of 19.7%.
It is quite encouraging that this growth has largely been volume driven and came in at a time when
the economy continued to be under turbulence with growth rates slowing down across sectors
including the consumer products industry. Even in such a challenging environment, your Company
was not only able to post strong growth in sales but also improve upon profitability. The Companys
EBITDA increased to Rs1,288 crores in fiscal 2013-14 reporting an increase of 17.4%.
The business has performed well across operating parameters. Our deep understanding of consumer
behaviour which we have developed over the years and focus on improving overall marketing mix
helped us navigate through a tough external environment, demonstrating the robustness of our
business model. We continued to invest strongly behind our brands and drive innovation on leading
to an uptick in market shares.
In the previous year, your Company had made huge investments towards rural outreach and
penetration into the hinterland which led to significant expansion of our distribution reach. This
investment continued to pay rich dividends during fiscal 2013-14 with demand from rural India
outpacing the urban markets and offsetting the slight moderation in demand from urban India.
The close of the financial year, in fact, saw urban markets inch up with growth rates at par with the
rural markets. To capture the potential of the coming times, Dabur has embarked upon an initiative
to strengthen its presence in the chemist network, which we feel will be a key driver of growth for
our consumer healthcare and personal care business. We have re-organised our sales teams
specifically to cater to the demands of chemist channel and also enhance distribution of health care
and personal products portfolio through this network. As a result of this initiative, Daburs direct
chemist coverage is planned to increase from 1.72 lac to 2.06 lac outlets and the footprint will continue
to grow particularly in the top 150 towns where this initiative has a major focus.
Daburs International Business continued on the strong growth trajectory growing by 22.3% to Rs
2,310.8 crores in fiscal 2013-14. This was driven by innovation, market share gains and aggressive

Dabur India Limited

MarketLine

Page 26

Dabur India Limited

Company View

investment behind the brands. Our brands are appreciated and well regarded by the local consumers
for their herbal/ natural properties and the benefits they deliver.
We continue to identify attractive and significant growth opportunities both in India and around the
world, and have been regularly investing in creating new assets and facilities to meet the growing
demand for our products, globally. A new manufacturing unit has been commissioned in Bangladesh
to produce our range of FMCG products. The new fruit juice facility set up at Sri Lanka commenced
supplies to our markets in West and South India.
The year gone by also saw Dabur take several important strides in reducing our environmental
impact and encourage community environmental stewardship.
This year, we are particularly proud to be ranked amongst the Top 5 Companies with the Best Board
of Directors as per Corporate Dossier- Hay Groups survey. We have also been named by CRY as
the Child Rights Champion for our various initiatives aimed at improving the lives of children from
the under-privileged sections of the society.
I would like to take this opportunity to thank our Board of Directors, consumers, business partners,
the management and all our valued employees for their outstanding efforts during 2013-14. We
would also like to thank you, our shareholders, who have supported us loyally for many years. I am
grateful to you for your unwavering support. It is our privilege to continue to build shareholder value
for you over the long term. Thank you again for the trust that you have placed in our Company. We
shall continue to strive to deliver excellence and superior value to all our stakeholders.

Dabur India Limited

MarketLine

Page 27

Dabur India Limited

Locations and Subsidiaries

LOCATIONS AND SUBSIDIARIES

Head Office
Dabur India Limited
Kaushambi
Ghaziabad
Uttar Pradesh 201010
IND
P:91 120 3982000
F:91 120 4374935
http://www.dabur.com

Other Locations and Subsidiaries

Dabur India Ltd.
506 5th Floor
Industry House
A. B. Road
Indore 452 004
Madhya Pradesh
IND

Dabur International Limited

Jebel Ali
Dubai
ARE

Asian Consumer Care

245 Tejgaon Industrial Area
Dhaka 1208
BGD

Dabur International
5 Independence Way
Suite 300
Princeton
New Jersey 08540
USA

H&B Stores Ltd

Hindi Bhavan
11 Rouse Avenue
ITO
Near Bal Bhavan
New Delhi 110002
IND

Dabur Egypt Limited

Plot No.(5)
Industrial Area (B-4)
10th of Ramadan City
EGY

African Consumer Care Limited

Ebani House
62 Marina Lagos
NGA

Dabur Nepal Private Limited

TNT Building
Tinkune
Koteshwor
Kathmandu
NPL

Dabur India Limited

MarketLine

Page 28

Dabur India Limited

Locations and Subsidiaries

Dabur India Limited

5-9-1107
9&10 King Koti Road
Anand Towers Basheerbagh
Hyderabad 500 029
Andhra Pradesh
IND

Dabur India Limited

MarketLine

Dabur International Ltd

2 Gayton Road
Harrow
HA1 2XU
GBR

Page 29

MARKETLINE | 119 FARRINGDON ROAD | LONDON, UNITED KINGDOM, EC1R 3DA

T: +44 161 238 4040 | F: +44 870 134 4371 | E: REACHUS@MARKETLINE.COM | W: www.marketline.com