The Hindu Business Line : Dabur Q1 net up 37.5 %

The Dabur India board on Wednesday approved raising capital up to $200 million from the international market. This could be raised in one or more tranches through the issue of foreign securities to foreign investors through Bonds, FCCBs, GDRs, ADRs, QIPs or any other securities.

The proposal could also allow the existing shareholders with an option to divest their holdings in the overseas markets through a sponsored offering route. "Taking into account our improved performance, positive outlook and the availability of low cost funds in the international market, the company proposes to raise capital from the international market to fund its aggressive growth ambitions and acquisition plans in India and abroad," said Mr P D Narang, Group Director, Dabur India.

DIL has reported 37.5 per cent growth in net profit for the first quarter ended June 30, of the current fiscal 2006-07. Net profit amounted to Rs 39.7 crore for the first quarter against its profits of Rs 28.8 crorein the corresponding period of the previous fiscal. The turnover went up by 12.2 per cent, from Rs 299.3 crore to Rs 355.8 crore.

Dabur India (consolidated), which includes DIL, the flagship FMCG company, Balsara, Dabur foods, Dabur International Ltd, other subsidiaries and exports, reported a growth of 38.3 per cent in net profits from Rs 34.9 crore to Rs 48.2 crore during the given period. Over all, the FMCG business of Dabur India that accounts for 87 per cent of its sales reported a growth of 14.3 per cent during the mentioned period.

Dabur International Ltd and its step down subsidiaries, posted a growth of 14.4 per cent in turnover, from Rs 45.1 crore to Rs 51.58 crore in the first quarter. The company has also started operations in Asia Consumer Care Pakistan Pvt Ltd, its newly formed subsidiary in Pakistan.

Dabur Foods Ltd, a subsidiary of Dabur India, reported an increase of 14.3 per cent in sales from Rs 44.3 crore to Rs 50.6 crore during the said period.

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