Home-grown FMCG major Dabur India is looking at the future with “great optimism” but challenges from the pandemic are far from over, its Vice Chairman Mohit Burman said, adding the company is better prepared to deal with any eventuality.
Applying learnings from last year to streamlining the supply chain to ensure minimal disruption in the availability of products, Dabur is “well-positioned” to meet the challenges and generate sustainable long-term growth, he added.
“I continue to look at Dabur and our future with great optimism. The challenges of COVID are far from over,” Burman said while virtually addressing shareholders at the 46th annual general meeting (AGM) of the company.
The emergence of the second wave earlier this year and talks of another wave likely in the future means that Dabur might have to cope with the related challenges in the months to come, he added.
“We are also applying learnings from last year on streamlining the supply chain to ensure minimal disruption in availability of our products. I am confident that Dabur is well positioned to meet the challenges ahead and generate sustainable long-term growth,” said Burman.
However, he hoped that with the vaccination drive gaining momentum with every passing day, full normalcy will be restored within this year.
Burman also expressed gratitude to frontline workers for their efforts in keeping the nation safe during these uncertain times, as well as the Dabur family which has risen to meet the challenges which this pandemic threw up over the past year.
“On behalf of the Board of Directors of Dabur India, I thank them for their dedication and commitment as they worked towards ensuring business continuity and uninterrupted supply of our products to millions of consumers when they needed them the most,” he said.
On Dabur’s performance in the pandemic-impacted F21, Burman said despite facing multiple headwinds, it delivered a robust performance with 10 per cent growth in consolidated revenue from operations at Rs 9,562 crore.
“Our India FMCG Business led the growth with a 15 per cent surge, with underlying volume growth of 12.5 per cent in 2020-21,” he said.
Its gross sales crossed Rs 10,000 crore for the first time and its market capitalisation touched the Rs 1 trillion mark, Burman added.
Dabur also continued to gain market share across all key categories like shampoo, toothpaste, hair oils, chyawanprash and packaged juices and nectars.
Its international business also made a strong recovery during the second half, with most countries coming back to good growth.
Burman said emergence of the second and more devastating wave of the pandemic in March 2021 tested the character of the organisation all over again.
“As we stayed true to our Ayurvedic roots while working tirelessly towards serving all our stakeholders, the health and safety of our employees remained paramount,” Burman said.
It had rolled out a series of initiatives across its operations to prevent the spread of infection.
Some employees succumbed to COVID-19 and Dabur has decided to support their family with continued monthly salary for one year, in addition to the term insurance cover provided by the company.