Dabur India is to announce its first quarter results. According to CNBC-TV18's estimates, the company's Q1FY12 net sales are seen up 27% at Rs 1166 crore versus Rs 916.5.
Its EBITDA is seen up 23% at Rs 169 crore versus Rs 137 crore.
Its PAT is seen up 14% at Rs 122 crore versus Rs 107 crore.
The company's EBITDA margins is seen down 14.4% versus 14.9%.
The company's PAT margins is seen down 10.4% versus 11.6%.
Factors
Expect Dabur India to report net sales of Rs11.6bn up 27% YoY with 8% volume growth
The higher sales growth is due to the consolidation of Hobi Kozmetik and Namaste acquisitions for the full quarter
Estimate organic sales growth of ~13% impacted by pressure on Middle East and Egypt sales and a high base of 17% volume growth in the base quarter
Pressure on margins will sustain following higher commodity costs
As recent softening in raw material prices will benefit margin with lag
Shampoo market share loss is a key concern
Estimate 11.6% PAT growth to Rs122cr impacted by higher depreciation and a higher tax charge (up 130bp)
Company announced the acquisition of OTC energizer brand 30+ from Ajanta Pharma- do not expect material impact of this acquisition on financials
Stiff competition in Dabur’s key categories like shampoo, skin care, oral care and hair oil is likely to keep growth and margin expansion under check in the domestic business
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