TABLE OF CONTENTS

CHAPTER PARTICULARS PAGE NO

1 LOGO OF THE COMPANY

2 INTRODUCTION

(VISION,MISSION,OBJECTIVE)

3 BUSINESS

4 PRODUCT AND MARKET PROMOTER

5 EXPANSION AND FUTURE PLAN

6 FINANCIAL DETAIL

7 CORPORATE INFORMATION OF THE COMPANY

8 SHARE PRICE ANALYSIS

9 ACHIVEMENTS OF BUSINESS

10 GRAPH AND CHART

11 BIBLOGRAPHY

Chapter-1

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LOGO OF THE COMPANY

Chapter-2

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INTRODUCTION

Dabur India Limited is a leading Indian consumer goods company with interests in Hair Care, Oral Care, Health Care, Skin Care, Home Care and Foods. From its humble beginnings in the bylanes of Calcutta way back in 1884 as an Ayurvedic medicines company, Dabur India Ltd has come a long way today to become a leading consumer products manufacturer in India. For the past 125 years, we have been dedicated to providing nature-based solutions for a healthy and holistic Lifestyle.

Through our comprehensive range of products, we touch the lives of all consumers, in all age groups, across all social boundaries. And this legacy has helped us develop a bond of trust with our consumers. That guarantees you the best in all products carrying the Dabur name .

History

Dabur India Limited is India's leading FMCG company with interests in health care, personal care and foods. Dabur has a history of more than 100 years and the company has carved a niche for it self in the field of Ayurvedic medicines. The products of Dabur are marketed in more than 50 countries worldwide. The company has 2 major strategic business units (SBU) - Consumer Care Division (CCD) & Consumer Health Division (CHD), and 3 Subsidiary Group companies - Dabur Foods, Dabur Nepal and Dabur International. Dabur International has 3 step down subsidiaries -Asian Consumer Care in Bangladesh, African Consumer Care in Nigeria and Dabur Egypt. 

The origin of Dabur can be traced back to 1884 when Dr. S.K. Burman started a health care products manufacturing facility in a small Calcutta pharmacy. In 1896, as a result of growing popularity of Dabur products, Dr. Burman set up a manufacturing plant for mass production of formulations. In early 1900s, Dabur entered the specialized area of nature based Ayurvedic medicines. In 1919, Dabur established research laboratories to develop scientific processes and quality checks. In 1936, Dabur became a full-fledged company with the name Dabur India (Dr. S.K. Burman) Pvt Ltd. Dabur shifted its operations to Delhi in 1972. Dabur became a Public Limited Company in 1986 and Dabur India Limited came into existence after reverse merger with Vidogum Limited. In 1992, Dabur entered into a joint venture with Agrolimen of Spain to manufacture and market confectionary items in India. In 1994, Dabur raised its first IPO. In 1998, day to day running of the company was handed over to professionals. In 2000, Dabur achieved a turnover of Rs 1000 crores. In 2005, Dabur acquired Balsara. Dabur crossed $ 2 billion.

Some of the well-known brands of Dabur are: Amla Chyawanprash, Hajmola, Lal Dantmanjan, Nature Care, Pudin Hara, Babool Toothpaste, Hingoli, Dabur Honey, Lemoneez, Meswak, Odonil, Real, RealActiv and Vatika.

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Events

Year: Event:

1884Dr. S K Burman lays the foundation of what is today known as Dabur India Limited. Starting from a small shop in Calcutta, he began a direct mailing system to send his medicines to even the smallest of villages in whole of India.

1896As the demand for Dabur products grows Dr. Burman feels the need for mass production of some of his medicines. He sets up a small manufacturing plant at Garhia near Calcutta

Early 1900s

The next generation of Burmans take a conscious decision to enter the Ayurvedic medicines market, as they believe that it is only through Ayurveda that the healthcare needs of poor Indians can be met.

1919

The search for processes to suit mass production of Ayurvedic medicines without compromising on basic Ayurvedic principles leads to the setting up of the first Research & Development laboratory at Dabur. This initiates a painstaking study of Ayurvedic medicines as mentioned in age-old scriptures, their manufacturing processes and how to utilize modern equipment to manufacture these medicines without reducing the efficacy of these drugs

1920A manufacturing facility for Ayurvedic Medicines is set up at Narendrapur and Daburgram. Dabur expands its distribution network to Bihar and the northeast.

1936 Dabur India (Dr. S K Burman) Pvt. Limited is incorporated.

1940Dabur diversifies into personal care products with the launch of its Dabur Amla Hair Oil. This perfumed heavy hair oil catches the imagination of the common man and film stars alike and becomes the largest hair oil brand in India.

1949Dabur Chyawanprash is launched in a tin pack and becomes the first branded Chyawanprash of India.

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1956Dabur buys its first computer. Accounts and stock keeping are one of first operations to be computerized.

1970Dabur expands its personal care portfolio by adding oral care products. Dabur Lal Dant Manjan is launched and captures the Indian rural market.

1972Dabur shifts base to Delhi from Calcutta. Starts production from a hired manufacturing facility at Faridabad.

1978Dabur launches the Hajmola tablet. This is the first time that a classical Ayurvedic medicine is branded -from Shudhabardhak bati to Hajmola tablet.

1979The Dabur Research Foundation (DRF), an independent company, is set up to spearhead Dabur's multi-faceted research.

1979Commercial production starts at Sahibabad. This is one of the largest and most modern production facilities for Ayurvedic medicines in India at that time (and even at this time also).

1984The Dabur brand turns 100 but is young enough to experiment with new offerings in the market.

1986Dabur becomes a public limited company through reverse merger with Vidogum Limited, and is re-christened Dabur India Limited.

1989Hajmola Candy is launched and captures the imagination of children and establishes a large market share

1992Dabur enters into a joint venture with Agrolimen of Spain for manufacturing and marketing confectionery items such as bubble gums in India.

1993 Dabur sets up the oncology formulation plant at Baddi, Himachal Pradesh.

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1994Dabur India Limited comes out with its first public issue. The Rs.10 share is issued at a premium of Rs.85 per share. The issue is oversubscribed 21 times.

1994Dabur reorganizes its business with sales and marketing operations being divided into 3 separate divisions.

1994

Dabur enters the oncology (anti-cancer) market with the launch of Intaxel (Paclitaxel). Dabur becomes only the second company in the world to launch this product. The Dabur Research Foundation develops the unique eco-friendly process of extracting the drug from the leaves of the Asian Yew tree.

1995Dabur enters into a joint venture with Osem of Israel for food and Bongrain of France for cheese and other dairy products

1996

Dabur launches Real Fruit Juice which heralds the company's entry into the processed foods market. The core team comprised three men who launched this brand: Kartik Raina, Treman Ahluwalia and Rajeev Gogte. The brand went on to become one of the biggest successes in the history of Dabur.

1997The Foods division is created, comprising of Real Fruit Juice and Hommade cooking pastes to form the core of this division's product portfolio.

1997Project STARS (Strive To Achieve Record Successes) is initiated by the company to achieve accelerated growth in the coming years. The scope of this project is strategic, structural and operational changes to enable efficiencies and improve growth rates.

1999–2000

Dabur achieves the Rs.1000 Crore turnover mark

Chapter-3

BUSINESS

Dabur India Limited has marked its presence with significant achievements and today commands a market leadership status. Our story of success is based on dedication to nature, corporate and process hygiene, dynamic leadership and commitment to our partners and stakeholders. The results of our policies and initiatives speak for themselves.

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  Leading consumer goods company in India with a turnover of Rs. 2834.11 Crore (FY09) 3 major strategic business units (SBU) - Consumer Care Division (CCD), Consumer

Health Division (CHD) and International Business Division (IBD) 3 Subsidiary Group companies - Dabur International, Fem Care Pharma and new and 8

step down subsidiaries: Dabur Nepal Pvt Ltd (Nepal), Dabur Egypt Ltd (Egypt), Asian Consumer Care (Bangladesh), Asian Consumer Care (Pakistan), African Consumer Care (Nigeria), Naturelle LLC (Ras Al Khaimah-UAE), Weikfield International (UAE) and Jaquline Inc. (USA).

17 ultra-modern manufacturing units spread around the globe Products marketed in over 60 countries Wide and deep market penetration with 50 C&F agents, more than 5000 distributors and

over 2.8 million retail outlets all over India

Consumer Care Division (CCD) adresses consumer needs across the entire FMCG spectrum through four distinct business portfolios of Personal Care, Health Care, Home Care & Foods

Master brands: Dabur - Ayurvedic healthcare products Vatika - Premium hair care Hajmola - Tasty digestives Réal - Fruit juices & beverages Fem - Fairness bleaches & skin care products

9 Billion-Rupee brands: Dabur Amla, Dabur Chyawanprash, Vatika, Réal, Dabur Red Toothpaste, Dabur Lal Dant Manjan, Babool, Hajmola and Dabur Honey

Strategic positioning of Honey as food product, leading to market leadership (over 75%) in branded honey market 

Dabur Chyawanprash the largest selling Ayurvedic medicine with over 65% market share.

Vatika Shampoo has been the fastest selling shampoo brand in India for three years in a row

Hajmola tablets in command with 60% market share of digestive tablets category. About 2.5 crore Hajmola tablets are consumed in India every day

Leader in herbal digestives with 90% market share

Consumer Health Division (CHD) offers a range of classical Ayurvedic medicines and Ayurvedic OTC products that deliver the age-old benefits of Ayurveda in modern ready-to-use formats

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Has more than 300 products sold through prescriptions as well as over the counter

Major categories in traditional formulations include:- Asav Arishtas- Ras Rasayanas- Churnas- Medicated Oils

Proprietary Ayurvedic medicines developed by Dabur include:- Nature Care Isabgol- Madhuvaani- Trifgol

Division also works for promotion of Ayurveda through organised community of traditional practitioners and developing fresh batches of students 

International Business Division (IBD) caters to the health and personal care needs of customers across different international markets, spanning the Middle East, North & West Africa, EU and the US with its brands Dabur & Vatika 

  Growing at a CAGR of 33% in the last 6 years and contributes to

about 20% of total sales Leveraging the 'Natural' preference among local consumers to

increase share in perosnal care categories Focus markets:

- GCC- Egypt- Nigeria- Bangladesh- Nepal- US

High level of localization of manufacturing and sales & marketing

VISION

"Dedicated to the health and well being of every household"

PASSION FOR WINNING

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We all are leaders in our area of responsibility, with a deep commitment to deliver results. We are determined to be the best at doing what matters most.

PEOPLE DEVELOPEMENT

People are our most important asset. We add value through result driven training, and we encourage & reward excellence.

CONSUMER FOCUS

We have superior understanding of consumer needs and develop products to fulfill them better.

TEAM WORK

We work together on the principle of mutual trust & transparency in a boundary-less organisation. We are intellectually honest in advocating proposals, including recognizing risks.

INNOVATION

Continuous innovation in products & processes is the basis of our success.

INTEGRITY

We are committed to the achievement of business success with integrity. We are honest with consumers, with business partners and with each other.

MISSION

Dabur's mission of popularising a natural lifestyle transcends national boundaries. Today, there is growing global awareness on alternative medicine, nature-based and holistic lifestyles and an interest in herbal products. Dabur has been in the forefront of popularising this alternative way of life, marketing its products in more than 60 countries all over the world.

Chapter-4

OUR PRESENT PRODUCTS RANGE

Health care. Personal care. Foods. Home care.

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Dabur India ltd. (DIL) is the largest player in the ayurvedic pharmaceuticals and OTC sector. The company has interests in sectors like Healthcare, Personal care, Ayurvedic pharmaceuticals and Food Products. The company enjoys strong brand equity in most of the segments where it has a presence with brands like, Chawanprash, Hajmola, Pudin Hara, Vatika, to name a few. The company is focusing on ayurvedic and herbal care products. Currently, the company’s product stable includes around 450 products. Dabur enjoys an excellent distribution network of over 5500 distributors reaching out to nearly 13,00,000 outlets. Interestingly, all the drugs under its stable are outside the purview of The Drug Price Control Authority (DPCO). We focus on each segment in detail…

Healthcare Segment

Healthcare segment is one of the major revenue contributors for DIL. Brands such as Chavanprash, Hajmola, Pudin Hara, Hingoli, Janam Gutti, Lal Tail, and Madhuvanni fall under this stable. For the 250 Crore-chavanprash markets, the company is facing tough competition from Zandu, Hamdard and Baidyanath. However, as per ORG data the market for chavanprash is expected to double in a couple of years. Chavanprash sales stood stagnant during the previous year contributing to 10% of the total revenue. In the pediatric segment the company has products like Janam Gutti, Lal Tail gripe waters, and Madhuvanni cough syrup. DIL has also introduced a new product namely, Nasarel for the treatment of Endometeriosis for use in assisted reproduction. Overall, the segment recorded a growth of 12%.

Hair Care Segment

DIL is a major player in the hair oil segment with extended brand equity in  Vatika. The range of products includes Dabur Amla, Dabur Special, Vatika, Vatika Shampoo, the newly introduced Vatika anti- dandruff shampoo and Vatika Heena Cream Conditioning Shampoo. Dabur Amla enjoys a 28% market share in the perfumed oil market. The total sales of the segment for the year ended march 2000 were 218 cr. The segment grew by 16 % during the year. The company has undertaken the repositioning of Dabur Amla hair oil and Dabur Vatika Oil. The hair oil segment contributes 21% to the company’s turnover as on 31st March 2000. In the hair Care segment the company is poised to have a strong growth of 10% predominantly on account of strong brand image.

Oral Care Segment

Seeing the future market move, DIL has purchased the BINACA brand for Rs.3 cr. The move was on account of the company-identifying shift in market preferences. The total sales for the segment were 116 cr. with a marginal growth

of 3%. The company views the growth through the Binaca brand. DIL is also repositioning the lal dant manjan in shrink sleeves wrap. We expect the segmental growth to be around 5% henceforth.

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Pharmaceuticals segment

Dabur has around 300 ayurvedic medicines sold through ayurvedic practitioners. The company has 80% market share in this segment. All the products are outside the purview of the DPCO. The division grew by 20% during the year. The company is majorly into Oncology and branded formulations. The company launched Topotel (Topotecan), the first camptothecin derivative for ovarian and lung cancer in India and Amiphos (Amiphostin) for various anti-cancer regiments in India. DIL is only the second in the world to manufacture anti-cancer drugs Paclitaxel and Docetaxel acquired from Pfizer in 1996. The company has established a subsidiary in UK namely Axol Labs., for manufacture of generic oncology products. However, global acceptance is a major sensitivity factor.

Other Segments

Other segments include food products division, which has been restructured into a 100% subsidiary company. The division has brands like Honey, Lemoneez lemon Juice, Real fruit juices, Hommade pastes and sauces. The subsidiary netted a loss of 11.55 cr on sales of 29.67 cr. This was on account of stiff competition faced by the company and wafer thin margins on trading goods. The company however has a strong nationwide distribution network. The skin care division with brands like Gulabari and Samara also grew by 19% during the year.

The company has entered into a 50:50 JV with Bongrain of France for manufacture and marketing of Cheese and speciality dairy products. The brands launched by the company include Delicieux and Le Bon.

Company Restructuring

With lack of growth coming in, company realized the need for corporate restructuring. The initiative undertaken looks to be very positive. Some of the measures initiated are: -

1. Dabur, being a closely held company, was initially a family run organization. However, subsequent to restructuring, the day-to-day management is under professional management and the promoters undertake only the strategic management decisions.

2. The company has decided on higher investment on Brand building rather than on product building. This fact is evident from the sale of GDC Ltd. and Excelcia Foods Ltd. The company has also entered into JV with Bongrain under the same initiative.

3. The company has discontinued the merchant exports, herbal intermediaries and Generic pharmaceuticals business.

4. With an effect to stress upon core competence the company has decided to put off plans for foray into the newly opened Insurance sector for which it had entered into a JV with Allstate of Finland.

5. The promoters hold 70% of the paid up capital of the company. Hence, to increase the liquidity of the stock in the market the company has introduced a stock split of 1/10 th at Re.1/- per share paid up.

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Sustainability Report

At Dabur, environment and nature is the lifeline of our business. With a portfolio of Ayurveda and nature-based products, conservation of nature & natural resources is deep rooted in our organizational DNA, and in every aspect of our ever-growing business.

We, at Dabur, have not merely incorporated the concept of sustainability into the core of our business but have, in fact, expanded it to encompass our aspirations and responsibilities to the society and to the environment. It is this concept that inspires us to optimize our business performance to tackle the new and growing challenges of environment and technology.

It is a concept on which we aspire to build an organization that will continue to increase value for all our stakeholders for generations to come, through intensive focus on Conservation of Energy and Technology Absorption, along with Health, Safety and Environment Protection.

Conservation of Energy

Dabur has been undertaking a host of energy conservation measures. Successful implementation of various energy conservation projects have resulted in a 13.8% reduction in the Company’s energy bill in the 2008-09 fiscal alone. What was noteworthy was the fact that this reduction has come despite an 8-9% volume increase in manufacturing, and an average 11.7% increase in cost of key input fuels.

The host of measures – key among them being use of bio-fuels in boilers, generation of biogas and installation of energy efficient equipment – helped lower the cost of production, besides reduce effluent and improve hygiene conditions & productivity.

Technology Absorption

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Dabur has also made continuous efforts towards technology absorption and innovation, which have contributed towards preserving natural resources. These efforts include:

Minimum use of water in process by pre-concentration of herbal extract and reduction in concentration time

Uniform heating in VTDs by hot water as against steam earlier, resulting in 30% reduction in bulk wastage by using non-stick coating and formulation change

Improvement in water treatment plant through introduction of RO (Reverse Osmosis) system for DM water, reutilization of waste water from pump seal cooling and RO reject waste-water management

Introduction of water efficient CIP system with recycling of water in fruit juice manufacturing

Development of in-house technology to convert fruit waste into organic manure by using the culture Lactobacilus burchi

The Company has achieved a host of significant benefits in terms of product improvement, cost reduction, product development, import substitution, cleaner environment and waste disposal, amongst others.

Health Safety & Environmental Review

Renewing the commitment to Health Safety and Environment, Dabur has formulated a policy focusing on People, Technology and Facilities. A dedicated “Safety Management Team” has also been put in place to work towards the prevention of untoward incidents at the corporate and unit level, besides educate & motivate employees on various aspects of Health, Safety and Environment.

The Company is also continuously monitoring its waste in adherence with the pollution control norms. In pursuance of its commitment towards the society, efforts have also been initiated to conserve and maintain the ground water level. The efforts include implementation of rainwater harvesting, which has delivered encouraging results and has put the company on the path to becoming a Water-Positive Corporation.

Dabur also initiated a Carbon Foot Print Study at the unit level with an aim to become a carbon positive Company in years to come.

At Dabur, we are committed to sustainable development throughout our diverse operations. And, we will strive to translate the good intentions into concrete and lasting results, contributing to the ultimate good of the society.

Deal Structure

DIL has signed an agreement to acquire 72.15% stake from the existing promoters.

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The transaction values FCPL at an equity value of Rs 282.4 crores. Dabur to make an open offer to acquire further 20% of the FCPL’s equity share capital. Specialty chemicals division and some other investments will be bought over by

promoters at book value or market value whicheveris higher. Acquisition to be funded through internal accruals of Dabur India Ltd.

Chapter-5

DABUR INDIA EXPANSION PLAN

Dabur to open new stores, scales down size

FMCG major Dabur India is back on its retail expansion track with scaled-down store sizes after curtailing its growth due to high estate prices. The company has scaled down the size of the stores to 700-1,200 sq ft from its originally planned size of 1,500-6,000 sq ft, besides removing its pharmacy section. “The store sizes have now been reduced to between 700 sq feet and 1,200 sq feet, nearly half of the originally planned sizes of between 1,500 sq feet and 6,000 sq feet,”' a company spokesperson said.

Dabur India had decided to hold the expansion plan of its retail arm as it aimed to capitalised more from further slide in retail rentals that the company is expecting. Launching its first outlet in the capital this week, the new store would sell its beauty and baby-care products, fashion accessories and other merchandise products.

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However, it would no longer retail its prescription medicines. “In the health market, the stores will now stock only OTC products and not prescription medicines as was available in the previous avatar,” the company said.

Dabur India Acquires 72.15% Of Fem Care PharmaFriday, November 21, 2008

Plans Open Offer For Additional 20% Shares Values Fem Care At Rs 282.4 Crores

Mumbai, November 21st, 2008: Dabur India Ltd today announced the acquisition of 72.15% of Fem Care Pharma Ltd (FCPL), a leading player in the women’s skin care products market, for Rs 203.7 Crores in an all-cash deal.

The board of directors of Dabur India Ltd approved the acquisition at a board meeting held in Mumbai today. The transaction ascribes a price per share of Rs 800, which translates into an equity valuation of Rs 282.4 Crores and an enterprise valuation of approximately Rs 300 Crores of Fem Care Pharma Ltd. Dabur will make an open offer for an additional 20% shares in the Company as required under the takeover regulations.

“Acquisition of Fem Care Pharma is in line with our strategy to aggressively expand Dabur’s scale of operations and strengthen its presence in the fast moving consumer goods (FMCG) space. This transaction would give Dabur an entry into the high-growth skin care market with an established brand name ‘FEM’. Further, Dabur also has the potential to extend the brand into newer and related skin care categories,” said Dr. Anand Burman, Chairman, Dabur India Ltd.

Fem Care Pharma Ltd, which has a leadership position in the fairness bleach category and a strong market position in hair removal and liquid soap category, is best known for its brand ‘FEM’. The other brands in its portfolio include Oxybleach cream, Botanica anti-ageing cream, Stratum colour protecting hair conditioners, SAKA men’s bleach and Bambi fabric softeners. FCPL, which reported a consolidated net profit of Rs 9.75 crores in the first half of the 2008-09 fiscal on a turnover of Rs 54.45 crores, also has a sizeable international market presence in markets such as Yemen, MaldivesMauritius, Malaysia, UAE, Oman etc. 

“The acquisition brings to Dabur a portfolio of well-known household brands that enjoy a pole position in their respective categories, offering us a strong platform to enter newer product categories and markets. Fem’s brands fit in well with Dabur’s future growth plans, both for India and international markets. As with our previous acquisition and subsequent integration of Balsara’s Hygiene and Home products businesses, the Fem Care Pharma Ltd transaction too would offer substantial synergies for expanding the reach of Fem’s brands in all our geographies as well as better management of overall system costs,” said Mr. Sunil Duggal, CEO, Dabur India Ltd.

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Strengths of Dabur will help expand the distribution of Fem’s brands across India and fuel faster growth for the company, both in India and abroad, thereby enhancing shareholder value,” said Ms Sunita Ramnathkar, Joint Managing Director, Fem Care Pharma Ltd.

“As Dabur gains access to Fem’s research capabilities, we believe it will be able to broaden the company’s product portfolio and further capitalize on the emerging opportunities in domestic and international markets,” said Mr. Sunil H. Pophale, Chairman & Managing Director, Fem Care Pharma Ltd. 

KPMG Corporate Finance was the financial advisor to the promoters of Fem Care Pharma Ltd and Ambit Corporate Finance was the financial advisor to Dabur India Ltd. 

Scale up presence in the skincare segment

Dabur has taken two major initiatives in this regard. Firstly it has acquired Fem Care, for entering the mainstream skincare segment. The Fem acquisition consolidates Dabur’s position as one of the leading consumer goods company in India with presence in skincare, oral care, hair care, healthcare and foods. It will contribute not only to its top-line but will also generate significant cost synergies. Secondly, it has launched Uveda, a range of premium Ayurvedic skin-care products. This range including moisturizing, face wash and fairness products would be positioned in the mid-priced segment. Given Dabur’s track record of successfully positioning new brands, strong hold in the Ayurvedic segment and wide distribution network, this new launch holds good potential.

Expand global presence:

 The international business division of the company contributes nearly 20% to the total revenues. The revenue from this segment grew by 52.9% YoY during Q1FY10 led by 80% growth from Bangladesh, 65% from GCC countries, 63.4% from Egypt, and 62% from Nepal. The company is looking at increasing its contribution from international business. For this it is on a look out for acquisition opportunities in the sub-Saharan Africa for which it plans to spend Rs.10bn. The company is capable of funding such acquisition from internal accruals with minimal borrowings. Also to increase its presence in the US market, the company is planning to build a proper distribution network.

Retail business to break-even in FY11:

 Dabur’s retail business posted a loss of Rs.240m in FY09. This loss had however reduced by less than 50% in FY09 as compared to FY08. Dabur plans to further reduce the loss and break-even by FY11 as it plans cost cutting by adopting a revenue sharing model with the land owners instead of paying rent. This model which is less risky will ensure faster break-even. The company operates its retail business through its subsidiary H&B stores and operates its retail chain under the brand name ‘News’.

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Future Plans

Dabur India had planned capex of Rs.1.5bn during FY10 of which nearly half the amount has already been spent. This amount is largely being spent on plant expansion in Uttaranchal and Himachal Pradesh.

 

Key Positives

Strong brand portfolio – many of them are market leaders in the respective product category. Few examples are Dabur Hair Oil, Dabur Honey, Dabur Chyawanprakash

One of the leading FMCG company in India

Largest over the counter company (OTC) in India

 

Key Concerns

Slowdown in the global economy

Inflationary environment in the commodity market

Huge outlay in brand promotion and distribution network

Intense competition in the domestic market as well as foreign international brands.

 Dabur Acquires Turkey`s Hobi Kozmetik Group For $69 Million Announces 20.5% Surge In Cons Q1 Net Profit At Rs 107.39 CrMonday, July 26, 2010

Consolidated Q1 Revenue Up 19.5% To Rs 924.38 Cr Announces 1:1 Bonus Issue

New Delhi, July 26th, 2010: Dabur India Ltd. today announced the acquisition of Hobi Kozmetik Group, a leading personal care products company in Turkey, for $69 million. Dabur’s overseas subsidiary, Dabur International Ltd, has acquired 100% stake in three Hobi Group firms – Hobi Kozmetik, Zeki Plastik and Ra Pazarlama.

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The transaction is expected to be completed by the third quarter of 2010-11. “The acquisition of Hobi Kozmetik is in line with Dabur’s strategy to aggressively expand its scale of operations and strengthen its presence in the fast moving consumer goods (FMCG) space across the globe. This acquisition is an important step towards further consolidating and expanding our already substantial presence in the Middle East and North Africa region,” Dabur India Ltd. Chairman Dr. Anand Burman said.

Set up in 1974, Hobi Kozmetik is a leading manufacturer of personal care products in Turkey. The company is a market leader in the hair gel category with a 35% share, and markets a wide range of hair care and skin care products under the ‘Hobby’ and ‘New Era’ brands. Its products are sold across 35 countries, including the Middle East and North Africa.

“The acquisition offers Dabur an entry into an attractive new market like Turkey, and adds to our portfolio a host of popular international brands that enjoy pole position in their respective categories. Hobi’s brands complement Dabur’s portfolio, categories, offering us a strong platform to enter newer product categories and markets. We also believe that the opportunities for capitalizing on the strengths of this business across our international operations are significant,” Dabur India Ltd. CEO Mr. Sunil Duggal said.

“With Balsara’s Hygiene and Home products businesses and more recently Fem Care Pharma, Dabur has aptly demonstrated its ability to make successful acquisitions and more importantly to manage them well. This transaction too will offer us substantial synergies and an opportunity to broaden the company’s product portfolio to further capitalize on the emerging opportunities in domestic and international markets,” Dabur India Ltd. Group Director Mr. P. D. Narang said.

Q1 Results

The Board Of Directors of Dabur India Limited today also approved the unaudited financial results of the company for the first quarter ended June 30th, 2010.

Riding on strong volume-driven growth across key categories like Hair Oils, Skin Care, Toothpastes, Health Supplements, Digestives, Foods & Home Care, Dabur India Ltd. ended the first quarter of the 2010-11 financial year with a 19.5% growth in consolidated Revenue at Rs 924.38 Crore. Consolidated Q1 Revenue for the same period last year stood at Rs 773.60 Crore. Net Profit for the first quarter of 2010-11 marked a 20.5% surge to Rs 107.39 Crore, up from Rs 89.09 Crore a year ago.

 “The macro environment is improving with good Monsoons fuelling resurgence in demand. Dabur continues to register sales growth ahead of the market in several key categories, and this growth is almost entirely volume-driven,” Mr. Duggal said. Dabur’s Health Supplements category grew by 42.8% in the first quarter, led by Chyawanprash and Glucose, while the Home Care Category bounced back to end the quarter with a strong 31.5% growth. The Oral Care category reported a 20.2% growth while Foods business grew by 21.2%, Hair Oils by 16.5% and

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Skin Care by 12.4%. Dabur’s International Business also registered a 28.7% topline growth during the quarter, led by Nigeria, Egypt, Levant and North Africa.

Bonus Issue

The Board of Directors of Dabur India Ltd. today announced issue of 1:1 Bonus share to the shareholders of the company, i.e. one share for every one share held. “We are happy to announce a 1:1 Bonus issue to the shareholders to mark the 125th year of Dabur's establishment. We feel the Bonus issue was long overdue to our investors” said Dabur India Ltd. Chairman Dr. Anand Burman.

Dabur seeks strong presence in the healthcare segment; targets Rs 7000cr in four years

As a part of FMCG major Dabur's strategy in strengthening healthcare segment as a key growth driver the company on Tuesday said it targets to post a profit of Rs 1,000 crore and aims to double its sales in coming four years to Rs 7,000 crore. Dabur India Group Chairman, Anand Burman, while addressing shareholders at the AGM said, "Dabur plans to double its sales and profits from current levels to reach Rs 7,000 crore and Rs 1,000 crore, respectively by March 2014."

Although the company did not divulge the timelines for raising funds, last month a resolution to raise the fund for fuelling the expansion plans was approved by the company's board members. In its 35th annual general meeting, company has received approval from its shareholders to raise Rs 2,000 crore for funding its expansion plans. The shareholders also approved the issuance of bonus shares in the ratio of 1:1 that indicates 1 share for each share held.

Referring to it,Dabur India Group Director P D Narang said, "The 1:1 Bonus issue to the shareholders has been announced to mark the 125th year of Dabur's establishment. We feel the Bonus issue was long overdue to our investors." The new plan is directed towards expanding in the healthcare category besides targeting growth in the food, home and personal care businesses. According to a company official, "Under the domestic healthcare business expansion strategy, the company plans to enter several new therapeutic areas with strong branded presence in new over-the-counter categories." He also added, "The idea is to grow the domestic healthcare piece to become a Rs 1,500 crore business, besides growing the home personal care business to Rs 2,800 crore and the foods business to Rs 700 crore by the end of the vision period."

Currently healthcare business segment stands at Rs 800 crore while the personal care and food categories amount to over Rs 1,700 crore and Rs 400 crore respectively. The company plans to expand its healthcare business to include dermatology (skin), gastroenteritis, cough and cold, women's healthcare, heart & metabolism, pain management and vitamins, minerals and supplements.

Some of the products sold by Dabur in the personal care segment like include 'Vatika' and fruit-based beverages 'Real' and 'Activ' generating a revenue of Rs 3,417 crore and profit of Rs 501 crore, respectively. Dabur India Limited is the fourth largest FMCG Company in India with

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Revenues of US$750 Million (Rs 3416 Crore) & Market Capitalisation of US$3.5 Billion (over Rs 16,000 Crore). Building on a legacy of quality and experience of over 125 years, Dabur operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care & Foods.

Chapter-6

FINANCIAL DETAIL

Income statement of Dabur India Ltd. for the last 5 years.(Rs in Cr)

  Mar ' 10   Mar ' 09   Mar ' 08   Mar ' 07   Mar ' 06  

Income :          

Operating Income  2,867.42  2,408.33  2,093.63  1,745.14  1,345.50           Expenses          Material Consumed  1,384.29  1,232.85  1,023.94  778.27  582.43Manufacturing Expenses  58.17  54.22  54.02  39.24  27.10Personnel Expenses  212.34  167.32  149.69  118.66  98.31Selling Expenses  474.79  358.75  337.69  403.42  316.46Adminstrative Expenses  187.90  153.67  138.69  100.90  80.24Expenses Capitalised  0.00  0.00  0.00  0.00  0.00           

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Cost Of Sales  2,317.49  1,966.81  1,704.03  1,440.48  1,104.55           Operating Profit  549.93  441.52  389.60  304.66  240.95           Other Recurring Income  14.85  10.72  9.76  3.14  1.05           Adjusted PBDIT  564.78  452.24  399.36  307.80  242.01           Financial Expenses  13.28  14.47  10.92  4.43  5.73Depreciation  31.91  27.42  25.75  21.98  19.05Other Write offs  5.66  3.94  5.67  6.49  4.26           Adjusted PBT  513.93  406.41  357.01  274.90  212.97           Tax Charges  93.70  51.44  48.40  32.15  25.78           Adjusted PAT  420.23  354.97  308.61  242.76  187.19Non Recurring Items  13.10  18.58  8.16  9.32  1.90Other Non Cash adjustments  -0.19  -0.72  -0.86  -0.13  0.21           Reported Net Profit  433.33  373.55  316.77  252.08  189.08           Earnings Before Appropriation  862.08  696.07  545.07  426.95  314.52           Equity Dividend  173.60  151.39  129.60  122.13  100.32Preference Dividend  0.00  0.00  0.00  0.00  0.00Dividend Tax  29.50  25.73  22.03  17.13  14.07Retained Earnings  658.98  518.95  393.44  287.70  200.13

Balance Sheet of Dabur India Ltd. for the last 5 years.(Rs in Cr)

  Mar ' 10   Mar ' 09   Mar ' 08   Mar ' 07   Mar ' 06  

SOURCES OF FUNDS          Owner's Fund          Equity Share Capital  86.76  86.51  86.40  86.29  57.33Share Application Money  0.14  0.00  0.00  0.00  0.00Preference Share Capital  0.00  0.00  0.00  0.00  0.00Reserves & Surplus  662.48  651.69  441.92  316.90  390.54

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Loan Funds          Secured Loans  24.27  8.26  16.45  19.28  19.23Unsecured Loans  81.80  130.72  0.24  0.26  1.25Total  855.45  877.18  545.01  422.73  468.35           USES OF FUNDS          Fixed Assets          Gross Block  687.23  518.77  467.93  404.30  328.23Less : Revaluation Reserve  0.00  0.00  0.00  0.00  0.00Less : Accumulated Depreciation  236.28  210.45  189.77  168.97  142.46Net Block  450.95  308.32  278.17  235.33  185.77Capital Work-in-progress  23.31  51.71  16.26  3.71  13.07           Investments  348.51  232.05  270.37  145.35  275.08           Net Current Assets          Current Assets, Loans & Advances  941.77  973.42  576.82  397.78  285.68Less : Current Liabilities & Provisions  911.83  696.97  610.57  379.27  324.12Total Net Current Assets  29.94  276.45  -33.75  18.52  -38.44Miscellaneous expenses not written  2.74  8.64  13.95  19.82  32.87Total  855.45  877.17  545.00  422.73  468.35Note :          Book Value of Unquoted Investments  98.60  319.12  67.99  65.99  234.43Market Value of Quoted Investments  250.52  118.48  205.19  80.82  43.43Contingent liabilities  173.48  174.15  171.24  153.25  190.02Number of Equity shares outstanding (in Lacs)

 8,675.86  8,650.76 8,640.2

3 8,628.84  5,733.03

Cash Flow Statement of the Dabur India Ltd. for a period of 5 years

(Rs in Cr)

  Mar ' 10  

Mar ' 09   Mar ' 08   Mar ' 07  

Mar ' 06  

Profit Before Tax  527.03  425.00  365.18  284.22  214.36Net CashFlow-Operating Activity  481.49  323.57  313.29  234.43  194.34Net Cash Used In Investing Activity

 -267.54  -238.38  -179.77  -60.57  -27.51

NetCash Used in Fin. Activity  -201.88  -9.77  -119.30  -168.06  -139.45Net Inc/Dec In Cash And  12.07  75.42  14.22  5.79  27.40

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EquivlntCash And Equivalnt Begin of Year

 151.84  68.26  54.04  44.45  10.65

Cash And Equivalnt End Of Year  163.91  143.68  68.26  50.25  38.04

RATIOS

  Mar ' 10  

Mar ' 09   Mar ' 08   Mar ' 07  

Mar ' 06  

PER SHARE RATIOS                     Adjusted E P S (Rs.)  4.84  4.10  3.57  2.81  3.27Adjusted Cash EPS (Rs.)  5.28  4.47  3.94  3.14  3.67Reported EPS (Rs.)  4.99  4.32  3.67  2.92  3.30Reported Cash EPS (Rs.)  5.43  4.68  4.03  3.25  3.70Dividend Per Share  2.00  1.75  1.50  1.75  2.50Operating Profit Per Share (Rs.)  6.34  5.10  4.51  3.53  4.20Book Value (Excl Rev Res) Per Share (Rs.)

 8.64  8.53  6.11  4.67  7.81

Book Value (Incl Rev Res) Per Share (Rs.)

 8.64  8.53  6.11  4.67  7.81

Net Operating Income Per Share (Rs.)

 33.05  27.84  24.23  20.22  23.47

Free Reserves Per Share (Rs.)  7.14  6.84  4.33  2.80  5.21       

PROFITABILITY RATIOS                     

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Operating Margin (%)  19.17  18.33  18.60  17.45  17.90Gross Profit Margin (%)  18.06  17.19  17.37  16.19  16.49Net Profit Margin (%)  15.03  15.44  15.06  14.41  14.04Adjusted Cash Margin (%)  15.88  15.97  16.16  15.51  15.63Adjusted Return On Net Worth (%)  56.29  48.65  59.99  63.32  45.10Reported Return On Net Worth (%)  58.04  51.20  61.58  65.75  45.56Return On long Term Funds (%)  68.96  55.29  68.93  68.63  48.02

LEVERAGE RATIOS                     Long Term Debt / Equity  0.02  0.03  0.01  0.01  0.01Total Debt/Equity  0.14  0.18  0.03  0.04  0.04Owners fund as % of total Source  87.59  84.15  96.93  95.37  95.62Fixed Assets Turnover Ratio  4.31  4.84  4.67  4.50  4.24

LIQUIDITY RATIOS                     Current Ratio  1.03  1.40  0.94  1.05  0.88Current Ratio (Inc. ST Loans)  0.92  1.19  0.91  0.96  0.81Quick Ratio  0.67  0.98  0.57  0.63  0.52Inventory Turnover Ratio  11.31  10.94  12.52  13.44  14.44

PAYOUT RATIOS                     Dividend payout Ratio (Net Profit)  46.86  47.41  47.86  55.24  60.49Dividend payout Ratio (Cash Profit)  43.13  43.74  43.54  49.63  53.85Earning Retention Ratio  51.67  50.11  50.87  42.64  38.89Cash Earnings Retention Ratio  55.64  54.16  55.41  48.66  45.66

COVERAGE RATIOS                     Adjusted Cash Flow Time Total Debt  0.23  0.35  0.04  0.07  0.09Financial Charges Coverage Ratio  42.53  31.26  36.56  69.48  42.26Fin. Charges Cov.Ratio (Post Tax)  36.46  28.99  32.87  64.33  38.09

COMPONENT RATIOS                     

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Material Cost Component(% earnings)  48.61  52.80  49.05  45.86  42.97Selling Cost Component  16.55  14.89  16.12  23.11  23.52Exports as percent of Total Sales  4.31  4.56  4.49  3.96  1.97Import Comp. in Raw Mat. Consumed  1.22  1.06  0.97  1.22  0.72Long term assets / Total Assets  0.45  0.36  0.48  0.48  0.61Bonus Component In Equity Capital (%)  87.10  87.35  87.46  87.58  81.74

.

latest 5 yearly unaudited results of the Dabur India Ltd.(Rs in Cr)

  Mar ' 10  

Mar ' 09   Mar ' 08   Mar ' 07  

Mar ' 06  

           

Sales  2,874.60  2,417.91  2,117.79  1,778.02  1,369.68Other Income  15.11  21.32  27.91  16.51  5.35Stock Adjustment  -9.68  -38.89  -3.04  -22.19  4.24Raw Material  988.10  892.13  737.20  595.64  401.52Power And Fuel  0.00  0.00  0.00  0.00  0.00Employee Expenses  212.34  167.32  149.69  118.66  91.23Excise  0.00  0.00  34.39  0.00  0.00Admin And Selling Expenses  390.03  284.93  248.10  197.60  151.66Research And Devlopment Expenses

 0.00  0.00  0.00  0.00  0.00

Expenses Capitalised  0.00  0.00  0.00  0.00  0.00Other Expeses  744.38  667.98  574.21  587.70  487.32Provisions Made  0.00  0.00  0.00  0.00  0.00Operating Profit  549.43  444.44  377.24  300.61  233.71Interest  5.60  13.34  8.55  4.43  5.66Gross Profit  558.94  452.42  396.60  312.69  233.40Depreciation  31.91  27.42  31.42  28.47  19.05Taxation  93.70  51.44  48.41  32.14  25.78Net Profit / Loss  433.15  373.56  316.77  252.08  189.08Extra Ordinary Item  0.00  0.00  0.00  0.00  0.51

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Prior Year Adjustments  -0.18  0.00  -0.86  0.00  0.00           Equity Capital  86.76  86.51  86.40  86.29  57.33Equity Dividend Rate  0.00  175.00  150.00  250.00  250.00Agg.Of Non-Prom. Shares (in Lacs)

 2,692.38  2,532.42  2,521.89  2,260.42  1,484.77

Agg.Of Non PromotoHolding(%)  31.03  29.27  29.19  26.20  25.90OPM(%)  19.11  18.38  17.81  16.90  17.06GPM(%)  19.34  18.54  18.48  17.42  16.97NPM(%)  14.98  15.31  14.76  14.04  13.75EPS (in Rs.)  4.99  4.32  3.67  2.92  3.30

Chapter-7

CORPORATE INFORMATION

S.No. Location Type Address1 Registered Office 8/3, Asaf Ali Road 

New Delhi , Delhi - IndiaPinCode :110002 Phone :011-23253488 Fax :011-23276739 

2 Corporate Office DaburTower, Kaushambi, Sahibabad Ghaziabad , Uttar Pradesh - IndiaPinCode :201010 Phone :0575-39412525 3982000 Fax :0575-4374935 

3 Branch Office E-2, Harikrishna Estate B/h Shreeji Warehousing Estate Naroi-Sarkhej Bypass, Narol Ahmedabad , Gujarat - IndiaPinCode :382405 Phone :079-5320535 5324912 Fax :079-5323192 

4 Branch Office N-48, KFC Building Church Street Bangalore , Karnataka - IndiaPinCode :560001 Phone :080-5592544 5592570 5091103 Fax :080-5091100 

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5 Branch Office Dabur House 142, Rashbehari Avenue Kolkata , West Bengal - IndiaPinCode :700029 Phone :033-4663386 4663787 4660046 Fax :033-4662345 

6 Branch Office SCO 44-45, Sector 9-D, Madhya Marg, Chandigarh , Chandigarh - IndiaPinCode :160017 Phone :0172-741124 743069 Fax :0172-741573 

7 Branch Office Dabur India Ltd New No.6, Old No.37, Acrot Road Vadapalani, Chennai (Madras) , Tamil Nadu - IndiaPinCode :600026 Phone :044-4828059 4849637 Fax :044-4830998 

8 Branch Office 5-9-1107, 9&10, King Koti Road Anand Towers, Basheerbagh Opposite Shergate Hyderabad , Andhra Pradesh - IndiaPinCode :500029 Phone :040-3230586 3241482 3243652 Fax :040-3230587 

9 Branch Office Rajshree Apartment Plot No. 445, Gali No.4 Rajapark, Jaipur , Rajasthan - IndiaPinCode :302044 Phone :0141-623696 Fax :0141-620027 

10 Factory/plant Village Billanwali Lavana Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

11 Factory/plant Amla/Honey Unit: Village Billanwali Lavana Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

12 Factory/plant Oral Care Unit 601, Malku Majra, Nalagarh Road, Distt Solan Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-246363 

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13 Factory/plant Fit 'N' Activ Unit: 221, HPSIDC Industrial Area Distt Solan Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

14 Factory/plant Plot No 5/1, Site -IV, Sahibabad Industrial Area, Ghaziabad , Uttar Pradesh - IndiaPinCode :201010 Phone :0575-4181030 

15 Factory/plant 86-A,Kheda Industrial Area, Sector-3, Distt-Dhar Pithampur , Madhya Pradesh - IndiaPinCode :454774 Phone :07292-400046/400047/400048/400 Fax :07292-400112 

16 Factory/plant Unit - I & II Survey No 225/4/1, Villege Saily Silvassa , Dadra & Nagar Haveli - IndiaPinCode :396230 Phone :0260-2681071/72/73/74 Fax :0260-2681075 

17 Factory/plant Kartwa, PO: Mahanvita, P S Rajganj Jalpaiguri , West Bengal - IndiaPinCode :735135 Phone :03561-09800008457 09800008456 09933399800 

18 Factory/plant G 50-59, IID Centre, NH-12Road No.1, Newai Tonk , Rajasthan - IndiaPinCode :304020 Phone :01432-223342 222859 223783 Fax :01432-223783 

19 Factory/plant Chyawanprash Unit 220-221,HPSIDC Industrial Area, Distt Solan Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

20 Factory/plant Green Field Unit Village Manakpur, Tehsil, Distt. Solan Baddi , Himachal Pradesh - IndiaPinCode :174101

21 Factory/plant Unit of FEM Plot No. 3, Survey No.283- 285 & 287, Village: Manakpur Post - Lodhimajra,Distt. Solan 

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Baddi , Himachal Pradesh - IndiaPinCode :174101 Phone :01795-245273 Fax :01795-236297 

22 Factory/plant Plot No.D-55, Addl. Industrial Area, MIDC, AMBAD Nasik , Maharashtra - IndiaPinCode :422010 Phone :0253-6623222 Fax :0253-2383146 

23 Factory/plant 22, Site IV Industrial Area Ghaziabad , Uttar Pradesh - IndiaPinCode :201010 Phone :0120-3008700/3008701/3008702/3 Fax :0120-2779914 

24 Factory/plant Food Supplement Unit 221, HPSIDC Industrial Area, Distt Solan Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

25 Factory/plant Hajmola Unit 109, HPSIDC Industrial Area Dist Solan Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

26 Factory/plant Red Toothpaste & Shampoo Unit, Village Billanwali Lavana, Dist Solan Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

27 Factory/plant Unit I II & III Lane No.3, Phase II , SIDCO Ind Complex, Bari Brahmna Jammu , Jammu & Kashmir - IndiaPinCode :181133 Phone :01923-220123 222341 222354 Fax :01923-221970 

28 Factory/plant D-35, Industrial Area, Kalyani, Nadia District , West Bengal - IndiaPinCode :741235

29 Factory/plant Glucose Unit: Plot No .12, Industrial Area, Dist Solan Baddi , Himachal Pradesh - India

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PinCode :173205 Phone :01795-245273 Fax :01795-244090 

30 Factory/plant S-PC 162, Matsya Industrial Area Alwar , Rajasthan - IndiaPinCode :301030 Phone :0144-2881319/2881217/2881542 Fax :0144-2881302/2881341 

31 Factory/plant 9, Netaji Subhash Chandra Bose Road, Narendrapur P O Kolkata , West Bengal - IndiaPinCode :700103 Phone :033-24772324 - 26 24772620 24772738 Fax :033-24772621 

32 Factory/plant Plot No 4, Sector - 2, Integrated Industrial Estate, Pantnagar Udham Singh Nagar Di , Uttaranchal - IndiaPinCode :263146 Fax :05944-250064 

33 Factory/plant Honitus/Nature Care Unit 109, HPSIDC Industrial Area, Baddi, District Solan Baddi , Himachal Pradesh - IndiaPinCode :173205 Phone :01795-245273 Fax :01795-244090 

34 Factory/plant P.O. Daburgram District Deoghar , Jharkand - IndiaPinCode :814132 Phone :06641-22101 22103 Fax :06641-22808 

35 Factory/plant D-35, Industrial Area P.O. Kalyani Kalyani , West Bengal - IndiaPinCode :741235 Phone :033-5828176 5828179 5829175 Fax :033-5828178 

36 Factory/plant 10.4 Mile Stone, NH -7, Village Paudia Katni , Madhya Pradesh - IndiaPinCode :483442 Phone :07622-262317 262297 Fax :07622-262297 

37 Factory/plant Plot No.7, Noida Export Processing Zone District Gautam Buddha Nagar Noida , Uttar Pradesh - IndiaPinCode :201305

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Phone :05736-2562360 2562383 Fax :05736-2562360 

38 Factory/plant Unit I and II Plot No.22, Site-IV Industrial Area, Sahibabad Ghaziabad , Uttar Pradesh - IndiaPinCode :201010 Phone :0120-3008700-30 Fax :0120-2779914/4376924 

39 Factory/plant Unit III Plot No.5/1, Site-IV Industrial Area Sahibabad Ghaziabad , Uttar Pradesh - IndiaPinCode :201010 Phone :0120-3982000 3001000 Fax :0120-2779048 

40 Overseas Office P.O.Box 16944 Jebel Ali, Dubai UAE Dubai , Not Specified - United Arab EmiratesPinCode :0 Phone :04-8817756 8817689 8817778 Fax :04-8817732 

41 Overseas Office Dabur India Limited Lion Court, Farnham Road Bordon, Hampshire, GU35 ONF London , Not Specified - United KingdomPinCode :0 Phone :1420-477662 Fax :1420-477044 

42 Overseas Office TNT Building, Tinkune, Koteshwor Kathmandu, Kathmandu , Not Specified - NepalPinCode :0 Phone :1-478010 4487672-75 Fax :1-478030 

43 Shares Department Dabur India Ltd., Punjabi Bhawan, 10 Rouse Avenue New Delhi , Delhi - IndiaPinCode :100002 Phone :011-42786000 Fax :011-23222051 

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  latest Director's Report for the company

Year End : 2010-03The Directors have pleasure in presenting the 35th Annual Report on the business and operations of the Company, together with the Audited Accounts for the financial year ended March 31, 2010.

Financial Results

Financial results are presented in Table 1.

Table1: Financial Results

(Rs. in crore) 2009-10 2008-09Turnover (including other income) 2889.71 2439.22Profits before Tax 527.03 425.00Add: Provisions of earlier years written back 0.02 0 527.05 425.00Less: - Provision for Taxation - Current 89.66 47.48- Provision for Taxation - Deferred 4.04 (2.55)- Provision for taxation - Fringe Benefit 0 6.51- Provision for taxation for earlier year 0.21 0.72 Profit after Tax 433.14 372.84 Add: - Balance in Profit & Loss Account brought 428.94 323.23forward from the previous yearProfit available for appropriation Appropriation to: 862.08 696.07General Reserve 130.00 90.00Capital Reserve 2.07 0.01Interim Dividend - Paid 64.98 64.88Final Dividend - Proposed 108.62 86.51Corporate tax on Dividend 29.50 25.73Balance carried over to Balance Sheet 526.91 428.94Total 862.08 696.07

The Company has paid an interim dividend of 75% (Re.0.75 per share of Rupee one each) on November 10, 2009. We are pleased to recommend a final dividend of 125% (Rs.1.25 per share of Rupee one each) for the financial year 2009-10. The final dividend, if approved by the members, will be paid to members within the period stipulated by the Companies Act, 1956. The aggregate dividend for the year will amount to 200% (Rs.2.00 per share of

Page | 32

Rupee one each) as against 175% (Rs.1.75 per share of Rupee one each) declared last year. The dividend payout ratio for the current year, inclusive of corporate tax on dividend distribution, is at 46.89%.

Pursuant to the provisions of Section 205A (5) of the Companies Act, 1956, interim dividend for the year 2002-03 which remained unpaid or unclaimed for a period of 7 years, amounting to Rs.669718/-, has been transferred by the Company to the Investors Education and Protection Fund. The due dates for transfer of unpaid dividend for subsequent years is given in Table 11 under Corporate Governance Report.

Operations and Business Performance

Kindly refer to Management Discussion & Analysis and Corporate Governance, which form part of this Report.

Amalgamation of Fem Care Pharma Ltd with the Company

During the year the Company had acquired from the public shareholders of Fem Care Pharma Limited (FEM) 20% of the equity share capital of FEM, in addition to the controlling stake of 72.15% acquired from its existing promoters thereby increasing the total controlling stake to 92.15%. FEM had become a subsidiary of the company w.e.f. 25th June, 2009.

Further, on 26th October, 2009, amalgamation of Fem Care Pharma Ltd with the company, with effect from 1st April, 2009, was approved by the board of directors of both the Companies.

Amalgamation of FEM with the Company has been completed and has become effective on 18th June, 2010 upon filing of the Order of Honble Delhi and Mumbai High Courts with the respective offices of Registrar of Companies.

Corporate GovernanceDabur is committed to good corporate Governance and has benchmarked itself against global practices. Dabur understands and respects its fiduciary role in the corporate world. It has always endeavoured to pursue growth by adhering to highest national and international standards of corporate governance. This attitude of Dabur has earned recognition and has strengthened the bond of trust with its stakeholders and the society at large.

The compliance Report on Corporate Governance and a certificate from Auditors of the Company regarding compliance of the conditions of Corporate Governance, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges, is attached as `Annexure 1` and forms part of this annual report.

Certificate of the CEO/CFO, inter alia, confirming the correctness of the financial statements, compliance with Company`s Code of Conduct, adequacy of the Internal Control measures and reporting of matters to the Audit Committee in terms of Clause 49 of the Listing Agreement with the Stock Exchanges, is also enclosed as a part of the Annual Report.

Credit Rating

During the year under review the Company`s long term credit rating has improved from AA+ to the highest credit rating of AAA. The highest credit rating of AAA awarded by

Page | 33

CRISIL reflects the Company`s financial discipline and prudence.

Directors

During the year, Dr Ajay Dua was appointed as Additional Non-Executive Independent Director on September 3, 2009. He shall hold office upto the date of the ensuing Annual General Meeting of the Company and, being eligible, offer himself for appointment.

In terms of Article 103 and 104 of the Articles of Association of the Company, Dr Anand Burman, Mr Pradip Burman, Mr Amit Burman and Mr P D Narang will retire by rotation at the ensuing Annual General Meeting, and being eligible, offer themselves for re-appointment in terms of the provisions of Article 106 of the Articles of Association of the Company.

The brief resumes of the Directors who are to be appointed/re-appointed, the nature of their expertise in specific functional areas, names of companies in which they have held directorships, committee memberships/ chairmanships, their shareholding etc., are furnished in the explanatory statement to the notice of the ensuing Annual General Meeting.

Your Directors recommend their appointment/ re-appointment at the ensuing Annual General Meeting.

Directors Responsibility Statement

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, the Directors confirm:

i) That in the preparation of the annual accounts, the applicable accounting standards have been followed and no material departures have been made from the same;

ii) That they had selected such accounting policies and applied them consistently, and made judgements and estimates that are reasonable and prudent, so as to give true and fair view of the state of affairs of the Company at the end of the financial year, and of the profit of the Company for that period;

iii) That they had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv) That they had prepared the annual accounts on a going concern basis.

Change in Capital Structure and

Listing of Shares

The Companys shares are listed on the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) and are actively traded.

In the year under review, the following shares were allotted and admitted for trading in NSE and BSE:-

- Equity shares allotted against the options exercised by employees pursuant to Employees Stock Option Scheme of the Company;

- 423452 equity shares allotted on May 22, 2009.

- 263927 equity shares allotted on August 10, 2009.

- 16538 equity shares allotted on November 18, 2009.

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- 1805664 equity shares allotted on February 10, 2010.

Auditors and their Report

M/s G. Basu & Company, Chartered Accountants, Statutory Auditors of the Company, will retire at the conclusion of the ensuing Annual General Meeting and, being eligible, offer themselves for re-appointment as statutory auditors for the financial year 2010-11. The Company has received a letter dated April 1, 2010 from them to the effect that their re-appointment, if made, would be within the limit prescribed under section 224(1B) of the Companies Act, 1956, and that they are not disqualified for such re-appointment within the meaning of Section 226 of the Companies Act, 1956.

The Auditors have vide their letter dated 19.05.2010 also confirmed that they have subjected themselves to the peer review process of Institute of Chartered Accountants of India (ICAI) and holds a valid certificate issued by the peer Review Board of the ICAI.

The observations of the Auditors, together with the notes to Accounts referred to in the Auditors` Report, are self-explanatory and do not call for any further explanation from the Directors.

Cost Auditors

M/s Ramanath Iyer & Company, Cost Accountants, were re-appointed as Cost Auditors to conduct cost audit of the accounts maintained by the Company, in respect of the Formulations and Cosmetics & Toiletries products for the financial year 2010-11.

Consolidated Financial

Statements

In compliance with the Accounting Standard 21 on Consolidated Financial Statements, this Annual Report also includes Consolidated Financial Statements for the financial year 2009-10. Consolidated Turnover grew by 20.28% to Rs.3430.80 crore as compared to Rs. 2852.27 crore in the previous year. Similarly, net profit after tax and after minority interest for the year at Rs.501.27 crore is higher by Rs.110.06 crore as compared to Rs. 391.21 crore in the previous year.

Internal Control System

The Company has a well placed, proper and adequate internal control system, which ensures that all assets are safeguarded and protected and that the transactions are authorised, recorded and reported correctly. The Companys internal control system comprises audit and compliance by in-house Internal Audit Division, supplemented by internal audit checks from Price Waterhouse Coopers Private Limited, the Internal Auditors. The Internal Auditors independently evaluate the adequacy of internal controls and concurrently audit the majority of the transactions in value terms. Independence of the audit and compliance is ensured by direct reporting of Internal Audit Division and Internal Auditors to the Audit Committee of the Board.

To further strengthen the internal control process, the Company has developed a very comprehensive legal compliance manual called `e-nforce`, which drills down from the CEO to the executive level person who is responsible for compliance. This process is fully automated and generate alerts for proper and timely compliance.

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Fixed Deposits

During the year under review, the Company has not accepted any fixed deposits from the public, and as on March 31, 2010 the Company had no unclaimed deposits or interest thereon due to any depositor

.

Nature of Business

There has been no change in the nature of business of the Company and any of its subsidiary companies during the year.

Subsidiaries

As required under the provisions of Section 212 of the Companies Act, 1956, a statement of the holding companys interest in the subsidiary companies is attached as Annexure 2 and form part of this report.

In terms of approval granted by the Central Government under Section 212(8) of the Companies Act, 1956, copies of Balance Sheet, Profit and Loss Account, Report of the Board of Directors and the Report of the Auditors of the subsidiary companies have not been attached with the Balance Sheet of the Company. The Company will make available these documents/details upon request by any shareholder of the Company or subsidiary interested in obtaining the same.

The annual accounts of the subsidiary companies are also available for inspection by the shareholders at the Registered Office of the Company and also that of its respective subsidiaries. However, pursuant to Accounting Standard AS-21 issued by the Institute of Chartered Accountants of India, Consolidated Financial Statements presented by the Company include the financial statements of its Subsidiaries. The Financial Statements of each subsidiary shall also be available on Companys website www.dabur.com.

The following information in aggregate for each subsidiary is also being disclosed (a) capital (b) reserves (c) total assets (d) total liabilities (e) details of investment (except in case of investment in subsidiaries) (f) turnover (g) profit before taxation (h) provision for taxation (i) profit after taxation (j) proposed dividend. The said information is given in Annexure 3 and form part of this report.

Employees Stock Option Plan

During the year, 413842 options in 4 tranches were granted to eligible employees of the Company in terms of Employees Stock Option Plan (Dabur ESOP 2000). During the year, 2509581 options were exercised by the employees after vesting. Accordingly, the Company made the allotment of 423452 equity shares on May 22, 2009, 263927 equity shares on August 10, 2009, 16538 equity shares on November 18, 2009 and 1805664 equity shares on February 10, 2010, against the options exercised by the employees.

The particulars of options issued under the said Plan as required by SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 are appended as Annexure 4 and forms part of this report

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Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo A. Conservation of energy:

a) Energy conservation measures taken:- Various energy conservation projects and techniques were initiated at large scale and successfully implemented. Consequently, the energy bill got reduced by 8% on absolute basis (Rs 33 cr to Rs 31 cr) between 2008-09 and 2009-10. This was despite a 10% volume increase in manufacturing.

Some of the key initiatives were as follows- In the existing manufacturing units various initiatives were undertaken to conserve/ reduce environmental impact, by adapting to green manufacturing and concept of "Reduce, Reuse and Recycle", viz.

- Replacement of boiling pans with the herbal extractors to reduce steam consumption.

- Bio-gas generated from ETP used in Boiler and Canteen

- Replacing energy inefficient equipments with new energy efficient technologies.

- Eg: Old shrink tunnels of 12 KW with new 5 KW. Higher tonnage boiler with lower tonnage boiler to save fuel.

- Automation in IAEC Boiler has resulted in saving of 10% of Furnace Oil.

- Installation of High-pressure jet pump to reduce the water consumption.

- Installation of Lobe pump has resulted in saving of energy and product loss.

- Usage of Additive Ultra F in Furnace Oil for boiler firing.

- Reduction in Air compressor pressure from 6.5 Kg/cm2 to 5.8 Kg/cm2 by installation of pressure boosters on machines which require High Air pressure.

- Implementation of system to recover the condensate water. In this system warm water gets collected and is sent back to boiler which feeds water reservoir.

- Efficient Maintenance of Capacitor Bank for improvement of Power Factor.

- All compressors have been connected with loop line to maintain the air pressure.

- Installation of Air Actuator in air line to stop the air loss. Actuator works in case of power failure and closes the air receiver to stop the air loss.

- Effective utilization of ETP treated water in toilets flushing & irrigation/ gardening.

- Replacement of conventional bulb with CFL to save energy.

- Reuse of vacuum pump cooling water for make up in cooling tower.

- AC plant Electric panels with obsolete switchgears modified in-house to save energy.

Some new initiatives taken where the projects are under implementation:

- Usage of Herbal waste as a fuel in boiler e.g. conversion of herbal waste into dry bio briquettes, crushing of herbal waste and using the same in the USAB reactor in ETP to generate more methane (Bio gas) which in turn is used as boiler fuel, and using directly herbal waste as a fuel in the boiler.

b) Additional investments and proposals, if any, being implemented for reduction of consumption of energy:- - Additional investment of

Rs.348.00 lacs has been made during the year for implementing further energy conservation

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measures at manufacturing plants.

c) Impact of measures at (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods:- The energy conservation measures taken during the year have resulted into yearly saving of approximately Rs.205 Lacs and has thereby lowered the cost of production. These measures have also lead to better pollution control, reduced maintenance time and cost, improved hygienic condition and consistency in quality and improved productivity.

d) Total energy consumption and energy consumption per unit of production as per Form A

B. Technology Absorption:

Efforts made in technology absorption as per Form B is attached herewith as Annexure 7.

C. Foreign Exchange earnings and outgo:

i) Activities and initiatives relating to exports:

The Companys key markets for international business are the Middle East, Africa, UK and South Asian geographies, with manufacturing plants located across regions. The Company also has a private label business in USA and UK, along with Guar gum exports, which takes place from its Indian plants.

International business:

The Companys International Business Division recorded an impressive sales growth of 26.3% from Rs.477.0 crore in 2008-09 to Rs.602.5 crore in 2009-10, contributing to 18% of overall consolidated sales. The operating margins of the business improved significantly during the year reflecting the strength of the brands even though the external conditions were tough and the environment was plagued by recessionary trends, currency depreciations and demand contraction.

Robust sales growth in international markets was possible due to:

- Strong Brand portfolio positioned on herbal and natural platform

- Aggressive new product launches and brand extensions

- Geographical expansion into new markets

- Strong Sales and Distribution network

- Strong manufacturing backbone and expansion of own manufacturing in key geographies

- Localised and efficient supply chain.

The company has built strong and robust brand architecture with two mega brands for international business across all geographies - Dabur and Vatika and most of its offerings are under either of these two brands.

Dabur Amla

- Dabur Amla franchise achieved a growth of 38% along with all the extensions.

- Basis Nielsen Retail Audit in KSA, Dabur Amla Hair Oil with a market share of 34.2% is the biggest brand in the hair oil segment. Dabur Amla Gold has market share of 6.8% while

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Dabur Amla Jasmine is at 5.1%.

- The Amla franchise has now been extended to the Hair Cream Category with the launch of Dabur Amla Hair Cream. It has become the fastest growing brand in the Hair Cream segment notching up sales of more than INR 13 Crore in first year of launch.

Vatika

- There has been a robust growth of 36% in the Vatika franchise which includes Vatika Enriched Hair Oil, Coconut Hair Oil, Hair Creams and Hamam Zaith. Vatika brand is now worth Rs.185 Cr built from a negligible base over the last four years in the Arab belt.

- There was a successful re- launch of Shampoos and Conditioners, launch of one more variant in Hamam Zaith and re-launch of Vatika Coconut Hair Oil.

- Light hair oil range of Vatika Hair oils registered 51% growth in MENA.

- Vatika Hair Cream is now an INR 64 Cr brand in MENA. Vatika Hair Cream gained 370 bps in market share and becoming 12.7% of the market in volume terms. It grew by 44% in volume terms over LY in a category that has remained flat. Vatika Hair Cream is now the no. 2 player in Modern Trade with a 15.6% volume mkt share despite aggressive competition from established brands.

Vatika DermoViva - a new sub- brand launched for the Personal Wash and Skin Care segment had its first launch in the Bar Soap category and has managed to create consumer equity in a category dominated by strong MNC players.

FEM

- The FEM brand was strengthened in the overseas markets through ATL and BTL inputs which saw the brand grow by 100% in just nine months of operation since the takeover.

The key contributing markets/ regions to the International Business growth have been GCC, Egypt, Nigeria, Algeria, Morocco, Libya, Yemen, Syria and South Africa.

GCC, the largest market in the International Business Division and despite being a mature market, has registered a strong growth of 42% over last year fuelled by innovations and new product launches in the Hair Care, Personal Wash and Oral Care segments.

Dabur Egypt Limited has witnessed another spectacular performance with 30% growth in sales.

African Consumer Care, Nigeria has grown by 17% over last year in local currency terms, aided by strong growth of Dabur Herbal Toothpaste and Dabur Herbal Gel in the Oral Care category.

Asian Consumer Care, Pakistan has grown by 26% in revenue with Hajmola and Dabur Amla emerging as the two strong brands for the region.

Dabur International`s UK Branch has seen a 23% growth over previous year which has been the highest growth rate for this region in the last 8 years.

Markets of North Africa, Levant and Yemen have seen an impressive performance with 49% growth over previous year.

Asian Consumer Care, Bangladesh, has performed well with a growth of 47% during the fiscal 2009-10. The growth has been led by increased distribution penetration and focussed brand approach.

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Dabur Nepal Pvt Limited which manufactures fruit juices and also caters to local consumer market in Nepal recorded impressive growth of 26% in its sales to the domestic market of Nepal.

Efficient operations of the manufacturing plant in Ras Al Khaimah ensured 21 new SKU launches in 2009-10 and saw an augmentation in capacity with new manufacturing lines being installed for Shampoo and Hair Cream. In Egypt, a second Hair Oil plant was commissioned along with capacity enhancement in Hair Cream & Toothpaste.

Additional manufacturing lines installed in Nigeria led to significant improvement in capacity.

Exports from India

The company also exports guargum and private label oral care products from India. During 2009-10 the company recorded Guargum exports to the tune of Rs.43.3 crore as compared to Rs.48.3 crore in the previous year. The sales were lower due to weak global demand and recessionary environment.

Exports to USA recorded impressive growth with sales increasing to Rs.38.4 Cr in 2009- 10 versus Rs.27.6 in 2008-09 reflecting a growth of 39% despite the recessionary environment in developed markets. The US sales comprise Private Label and Ethnic business. Key markets in USA and Europe contributed to the growth. Innovative product developments in Oral care private label- such as Pro-age, Sensitive and Herbal toothpastes were launched. Ethnic Sales in USA and Canada also performed well recording 80% growth albeit on a low base. Various new products were successfully launched in the market and penetration of mainstay Dabur products like Hair Oils and Chyawanprash into Canadian mainstream retail chains such as Walmart was achieved.

ii) Development of new markets for Products & Services:

New avenues for growth were opened up with expansion into the new markets of Cambodia, Philippines, Belarus, Gambia and Bolivia. The Sales & Distribution infrastructure has been augmented by appointing new distributors in CIS, Mozambique, Guinea and Rwanda. Local resources have been deployed in key markets of Yemen, Syria, Kuwait, Malaysia and Tanzania to strengthen the S&D structure.

iii) Export Plans:

The focus, going forward, is to continue expanding the Companys presence across geographies and to exploit the opportunities that exist in existing and potential segments. The Company will continue to invest in brand building, manufacturing and human capital in order to maintain and improve the existing robust growth path.

Total Foreign Exchange used during 2009-10: Rs. 3646 lac.

Total Foreign Exchange earned during 2009-10: Rs. 12373 lac.

Group for inter se transfer of shares Pursuant to an intimation received from the Promoters, under Clause 3 (1) (e) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 persons constituting Group (within the

Page | 40

meaning as defined in the Monopolies and Restrictive Trade Practices Act, 1969) for the purpose of availing exemption from applicability of the provisions of Regulation 10 to 12 of aforesaid SEBI Regulations, are given in the Annexure 8 attached herewith and forms part of this report.

Oprations Reviewe

For detailed operational review kindly refer to Management Discussion and Analysis and the Report on Corporate Governance, which forms part of this Annual Report.

Health Safety and Environmental Review

Dabur India Ltd. has renewed its commitment to ensure a healthy and safe workplace for all by maintaining the highest levels of Occupational health, Safety and environmental standards across all its units. The Health, Safety and Environment Management Systems in all manufacturing units conform to the requirements of the International Standards based on OHSAS and ISO. A Dedicated "Safety Management Team" is working toward the prevention of Man, Machine and material loss at the Corporate & Unit level by educating and motivating the employees on various aspects on Health, Safety and Environment through training programmes and seminars.

The environmental agenda was marked by a shift towards reducing environmental impact of Companys operations. This was achieved by environment management program through a combination of energy & water conservation, rainwater harvesting and solid waste recycling. Some sites modified their boilers to use bio-fuels, resulting in significant environmental benefits by reducing the Sox emission in environment.

Dabur India Ltd. has always been aware of its responsibilities as a good citizen. Action in health, safety and environment management is in the process of further strengthening its current resources.

Key Initiatives taken during the year are as under:

- Manufacturing locations were prepared for the certification of OHSAS 18001 and ISO 14001 integrated management system.

- Reaffirmation of Occupational Health and Safety policy done and rolled out.

- Risk assessment of all manufacturing location done with a system of planned inspection product wise, which resulted in the reduction of All Injury Rate (AIR) and Total Recordable Frequency Rate (TRFR).

- Electrical Safety audit was carried out for all manufacturing location by competent person.

- Safety and Environment Act and Rules were complied at unit level.

- Environmental Management Program (EMPs) has been undertaken by units on the concept of Reduce, Reuse and Recycle. 20 EMPs were completed and 23 are in progress. This has resulted in the reduction of water consumption from 9.15 to 7.11 M3/T.

- Carbon Foot Print Study was carried out for 3 manufacturing locations, which showed the

Page | 41

reduction of effect on environment.

- Environmental Monitoring was carried out at unit level to check the impact on the environment.

- Different Guidelines and Standards were rolled out for implementation at unit level and focus on the training (on job and off job) to minimize the TRFR (Total Recordable Frequency Rate) was increased.

- Fire Hydrant System as per the latest technologies available was installed at unit level.

- Emergency Preparedness plan is in place which was executed through mock drill.

- Different tests have been carried out at unit level to check the efficiency of personal protection equipments (PPEs) used at work place.

- Health Check up for all employees was carried out at unit level.

- Plantation of medicated trees was carried out at manufacturing locations.

Awards & Recognitions:

Dabur has received many Awards and Accolades in recognition of its achievements at various levels. During the year Dabur bagged various Awards and Recognitions in different categories and for different Brands. These include:

For The Company

- Listed among India`s 50 best Blue chip Companies offering best Investor returns.

- Listed among Top 5 Indian brands to look out for in 2010.

- Ranked 19th among India`s Best Wealth creators.

- Ranked as 60th Most Valuable Indian Company in 2009.

- Ranked 25th in Indias 100 Most Valuable Brands.

- Placed 158th in BS-1000 list. In the Super Rank it has been placed at number 9.

- Dabur is Category Winner in FMCG- Personal care as biggest wealth creator.

- Moved up 6 places in ET-500 List for 2009.

- Moved up 12 places to take 79th position in Super 100 list for 2009.

- Bagged Top Marketer Award For 2009 in Consumer Goods Market.

- Listed in Forbes Indias list of 20 Stocks You Must Own.

Its Brands

- Uveda,Vatika conditioner ranked True Champions of Style by Elle magazine.

- Dabur Indias fruit Juice brand `Real` has won Trusted Brand Gold Award 2009.

- Dabur, Amla, Hajmola listed in Most trusted Brands 2009 list.

- Dabur Chyawanprash Immune India Campaign bagged the Gold award for Best School contact programme.

- Dabur voted by consumers as fourth Most Liked Health Brand in India.

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Its Chief Executive Officer

- Mr. Sunil Duggal ranked amongst Indias most valuable CEOs.

Industrial Relations

The Company maintained healthy, cordial and harmonious industrial relations at all levels. The enthusiasm and unstinting efforts of employees have enabled the Company to remain at the leadership position in the industry. It has taken various steps to improve productivity across organization.

Acknowledgements

Your Directors place on record their gratitude to the Central Government, State Governments and Companys Bankers for the assistance, co-operation and encouragement they extended to the Company. Your Directors also wish to place on record their sincere thanks and appreciation for the continuing support and unstinting efforts of Investors, Vendors, Dealers, Business Associates and Employees in ensuring an excellent all around operational performance. For and on behalf of the BoardNew Delhi (DR ANAND BURMAN)18th June, 2010 CHAIRMAN

Chapter-8

SHARE PRICE ANALYSIS

Listing Details - Dabur India

Page | 43

Key Dates

Year Ending Month Mar

AGM Date (Month) Aug

Book Closure Date (Month) Aug

Listing Information

Face Value Of Equity Shares 1

Market Lot Of Equity Shares 1

BSE Code 500096

NSE Code DABUR

BSE Group A

Whether The Company Forms A Part Of The Following Indices -

Sensex No

Nifty No

BSE-100 No

BSE-200 Yes

S&P CNX 500 Yes

CNX Midcap No

CNX FMCG Yes

Listing On

Listed OnThe Stock Exchange, Mumbai, National Stock Exchange of India Ltd.

Dabur India Share Holding Pattern

Particular No.Of Shares Percent Shares(%)Promoter Holding    

Indian Promoters 1196110850 68.71

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Foreign Promoters 522000 0.03

Non-Promoter holdings (Other than Public)    

Financial Institutions/Banks 122567848  

FII/Foreign Fin Inst/Foreign Banks 281731081 16.18

Corporate Bodies 12783932 0.73

Government Holdings 0  

OCB 6000 0.00

NRI 0 0.00

Mutual Funds 18653971 1.07

Other Foreign Holdings 8196884 0.47

General Public    

Individual Holding Upto Rs. 1 lakh 79624858 4.57

Individual Holding Excess of Rs. 1 lakh 18686215 1.07

Others 1840159 0.11

Total 1740723798 100.00

Chapter-9

ACHIVEMENTS OF BUSINESS

Page | 45

Dabur Chyawanprash Immune India

Campaign bags Gold Award for Best School Contact

program

Dabur among India's 50 Best Blue Chip

Companies offering best investor returns

Dabur India listed among Top 5 Indian

brands to look out for in 2010, according to

MSN

Dabur India Ltd ranked 19th amongst India's Best Wealth Creators by Dalal

Street Journal

Dabur placed 158 in BS-1000 list. In the Super Rank, Dabur

placed No 9

Dabur is category winner in FMCG-Personal Care as biggest wealth creator

Dabur moves up 12 places to take 79th

position in Super 100 list for 2009

Dabur India CEO Sunil Duggal among

India's Most 'Value'able CEOs

Dabur India Ltd moves up 6 places In ET- 500 List for 2009

Dabur is India's 25th Most Valuable Brand

Dabur bags Top Marketer Award for

2009 in Consumer Goods market

Dabur ranked as 60th Most Valuable Indian

Company in 2009

Uveda, Vatika Dabur ranked 25th in Dabur voted by Dabur India Ltd in

Page | 46

conditioner ranked True Champions of

Style by Elle magazine

India's 100 Most Valuable Brands

consumers as fourth Most Liked Health

Brand in India'

Forbes India's list of '20 Stocks You Must

Own

   

Dabur, Amla, Hajmola in Most

Trusted Brands 2009 list

Réal wins Trusted Brand Gold Award 2009

Chapter-11

BIBLIOGRAPHY

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This project is almost not possible to complete without the below mentioned newspaper, web page . All the data, which we have used, purpose is true to the knowledge.

WEBSITES:

www.Economicetimes.com.

www.yahoosearch.co.in

www.googlesearch.com

www.Daburindia.com

www.businessstandrd .net.

NEWSPAPERS:

The Economic Times

Business Standard

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