Dabur aims for Rs 7,000 crore in revenues in home and personal care segment
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FMCG major Dabur India said on Friday that it is planning to grow its Home and Personal Care (HPC) segment in double digits and targeting revenue of Rs 7,000 crore in the medium term. The company is also targeting Rs 5,000 crore in sales from its healthcare segment.
Both the verticals, HPC and healthcare, part of the care segment, are major contributors to Dabur's business. In FY23, they accounted for 56.2 per cent of the consolidated sales of Dabur, which were Rs 11,530 crore.
In the foods and beverages category, the company aims to grow in double digits over the medium and long term on account of healthier and superior quality products, better product communication, and attractive packaging.
To aid growth in the HPC segment, the company aims to drive core categories' growth to increase market share, improve penetration on account of increasing the Total Addressable Market (TAM) by entering into a new/adjacent category or expanding product offering in the existing category.
Additionally, it plans to achieve the Rs 7,000 crore target by expanding distribution network, increasing premiumisation mix, and implementing Regional Insights for Speedy Execution (RISE) strategy.
The company will have more premium products in the power brands as the number of upper-middle-class people grow. Besides, consumption of Low Unit Packs (LUP) will also grow in the rural markets, said Chief Executive Officer, Mohit Malhotra.
"LUP penetration would grow in this country. Dabur as an organisation, should add more LUP for more penetration in rural. More premium products would be added in all power brands going forward," Malhotra.
Meanwhile, the healthcare vertical has grown 9 per cent CAGR from FY20 to FY23. The company now aims to double the business in the next five years by converting power brands to platforms, which will allow them to foray into various categories.
“Dabur intends to focus upon categories of baby care (category size- Rs 11,000 crore) and premium tea (Rs 6,000 crore). For baby care, it intends to adopt strategy of advocacy via doctors rather than going through traditional route of advertising, as customer recruited drops out of the category after 3-4 years and there is no point in spending endless money in recruiting new customers year after year,” Philip Capital said in their report post the company’s analyst meet.
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