Dabur chairman Amit Burman steps down

Dabur India on Friday said that its board has accepted the resignation of Amit Burman from the post of chairman of the board of directors of the company with effect from the close of working hours of August 10, 2022.

Burman will continue to be the non-executive director of the company, the fast moving consumer goods firm says in an exchange filing.

The Ayurveda major also announced the appointment of Mohit Burman – who is currently the non-executive vice chairman of the company – as the non-executive chairman of the board of directors for a period of five years with effect from August 11, 2022.

The owner of Real juice brand also appointed Saket Burman as the non-executive vice-chairman of the company for a period of five years starting August 11.

This comes days after Dabur India reported an 8.1% growth in consolidated revenue for the first quarter of 2022-23 with an underlying volume growth of 5% in the India FMCG business. Dabur reported a consolidated revenue of ₹2,822 crore in the first quarter of FY23, up from ₹2,612 crore in the same quarter a year ago.

The FMCG company ended the first quarter with a net profit of ₹440.3 crore, up 0.7% from ₹437.3 crore a year earlier.

Dabur's foods and beverages business reported a strong growth, led by 51% jump in the beverages business. The foods business also reported 36% growth during the quarter.

The home care business was up 52%, while the Skin & Salon business reported an 11.4% rise during the quarter. The oral care business, riding on strong performance of its Toothpaste brands, ended the quarter with a 12.5% growth. Sustained demand for Hajmola and Pudinhara helped the digestives business end the quarter up 31%.

The company said it mitigated the impact of unprecedented inflationary pressures and supply chain constraints through disciplined cost control and judicious price hikes across categories.

Despite the consumption slowdown and shrinkage in overall demand, Dabur reported market share gains across 98% of its portfolio. In juices and nectars, Dabur said it grew ahead of the category and improved its market share by 330 basis points. The company also reported a 240 bps gain in Chyawanprash market share and a 190 bps gain in honey market share during the quarter. Dabur also reported 30 bps gain in Hair Oil market share to corner the highest-ever volume share in the category at 15.4%. Dabur's shampoo market share reported a 50 bps gain while its share of the Mosquito Repellent Cream category grew by 260 bps.