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FMCG sector: The small outpace the tall

While consumer goods giant Hindustan Unilever continues to stumble, smaller rivals like Dabur and Godrej are maintaining their growth trajectory

Despite its valiant restructuring and revamping efforts, Hindustan Unilever (HUL) has been struggling to maintain a decent earnings growth. On the other hand, HUL’s smaller rivals like Dabur India and Godrej Consumer Products are growing steadily, as is evident from their recent quarterly results.

Dabur India has reported a 28% rise in consolidated net profit to Rs137.84 crore, over the same period last year. Revenues jumped 18.6% to Rs932.56 crore compared to Rs786.21 crore in the same period last year. Lower input costs helped the company post a sound operating margin of 19%, compared to 17% in the same period a year ago.

The revenue growth was mainly led by the hair-care and skin-care segments. In the hair-care segment, Dabur’s shampoo range registered a 41% increase in sales. The skin-care segment grew 32.5%.

Meanwhile, Dabur’s international business recorded an 18.2% growth on the back of pick up in demand from the Gulf, Egypt, Nigeria and Bangladesh.

On the other hand, Godrej Consumer Goods reported a 53% increase in net profits, aided by a sound 26% growth in international business. Its consolidated revenues touched Rs528.21 crore, rising nearly 50% from the year-ago period. Godrej derived its growth from strong volumes in the soap and hair colour segment.

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