Dabur India shares tank 4% on low revenue growth in Q4

Dabur India | CMP Rs 507.25 | Dabur India stock fell over 4 percent after the company announced a mid-single digit revenue growth in the January-to-March quarter. The company's India business and home and personal care segment is expected to grow in high-single digits, said the company in its Q4FY24 result update.

Dabur India's shares fell over 4 percent after the company announced a mid-single digit revenue growth in the January-to-March quarter.

The stock was trading 4.5 percent lower at Rs 507 at 1:38pm on the National Stock Exchange (NSE).

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The company's India business and home and personal care segment is expected to grow in high-single digits, said the company in its Q4FY24 result update.

Healthcare and food and beverage segments are expected to register low single-digit growth. While the international business is expected to clock double-digit growth in constant currency terms, led by good momentum in the Middle East and the North African region, Egypt and Turkey. Gross margins are likely to continue to witness expansion on account of deflation in input cost and cost-saving initiatives, said the company.

"Demand trends remained sluggish during the quarter and rural growth has picked up on price rollbacks in staples which led to the gap between rural and urban narrowing. With a positive outlook for the rabi crop harvest and monsoon forecast to be normal, we expect consumption to pick up in the coming months," said the company.

Dabur India shares have lost 7 percent in the last six months and 6.14 percent in the last one year.