DABUR

May 26 (Reuters) - Dabur India Ltd DABU.NS:

• DABUR - APPROVED SCHEME OF AMALGAMATION OF SESA CARE WITH CO

Source text: [ID:]

Further company coverage: DABU.NS

(([email protected];))

** Shares of Dabur India DABU.NS fall as much as 4.4% to 461.10 rupees

** Consumer goods maker's Q4 consol profit fell 8.4% Y/Y to 3.2 bln rupees ($37.8 mln); revenue rose 0.6%

** "We expect consumer demand in India to recover progressively in the coming quarters, both in urban and rural markets," DABU's CEO Mohit Malhotra said

** Co sees high-single-digit FY26 sales growth aided by gradual recovery and flow-through of a 3.5%-4% price hike taken in Q4, Macquarie says

** Jefferies cuts PT to 590 rupees from 660 rupees; Nomura cuts PT to 550 rupees from 625 rupees

** DABU down ~6% YTD

($1 = 84.5940 Indian rupees)

(Reporting by Vijay Malkar)

(([email protected];))

BENGALURU, May 7 (Reuters) - Diary of India economic, corporate events on May 7

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

(([email protected]))

** Shares of Dabur India DABU.NS fall 7.2% to 460.15 rupees, heads for fourth straight session of losses

** Consumer goods major flagged a drop in India FMCG business growth due to "delayed and truncated winters and a slowdown in urban markets"

** Consolidated revenue expected to be flattish during the quarter

** Expects Q4 operating profit margin to contract by around 150-175 basis points y/y

** Emkay Global cuts PT for DABU to 450 rupees - 9.3% below previous close - from 500 rupees; keeps "reduce" rating

** Emkay sees need for aligning with evolving consumption trend for topline recovery

** DABU down ~9% so far in 2025

(Reporting by Vijay Malkar)

(([email protected];))

April 1 (Reuters) - Dabur India Ltd DABU.NS:

• INCOME TAX AUTHORITY RAISED DEMAND OF 1.10 BILLION RUPEES

Further company coverage: DABU.NS

(([email protected];;))

March 17 (Reuters) - India's Religare Enterprises RELG.NS on Monday said its board is seeking a governance review of the company and its units, and has also approached the billionaire Burman family for funding support after they took control of the company last month.

The Burman family, who founded and control consumer goods conglomerate Dabur India DABU.NS, acquired control of the financial services provider in February after a 17-month takeover battle.

The objective is to review past operating practices, suggest improvements and to identify any potential instances of misconduct by certain current and/or former employees of Religare and its units, the company said in an exchange filing.

Religare also said it observed a "cash-flow gap" over the next few months and has decided to approach the Burmans for immediate funding support to sustain the operations of the company.

The company did not specify details regarding the extent of the funding.

Previously, Religare, under former executive chairperson Rashmi Saluja, had sought to prevent the Burmans from raising their stake in the company. Saluja was ousted from the board in February as her reappointment did not go through.

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; +91 7982114624;))

Feb 6 (Reuters) - Solid demand in rural areas, as well as higher prices of staples including edible oil and wheat flour, helped the consumer goods sector report a 10.6% sales growth in the December quarter, market researcher NielsenIQ said on Thursday.

India's rural areas - which account for just over a third of consumer goods sales - have proven a bright spot for an industry struggling with an inflation-led spending slowdown in large cities.

"Rural markets (continued) to lead the charge, outpacing urban consumption (during the December quarter)," Roosevelt Dsouza, head of customer success for consumer goods at NielsenIQ, said in a statement.

Sales volume jumped 9.9% in rural areas in the December quarter, up from 5.7% in the previous quarter - double the 5% increase in urban centers, NielsenIQ said. But it added urban pockets also improved from the September quarter's 2.6% growth.

Rural areas have outperformed urban locations for the last four quarters, benefiting from income support schemes rolled out by several Indian states, while slowing salary increases in cities have squeezed consumer spending.

In the October-December quarter, overall volume rose by 7.1% - the highest in over a year - driven by demand for laundry products and edible oil, even as prices rose by 3.3%, according to NielsenIQ.

Dabur India DABU.NS and Hindustan Unilever HLL.NS reported a higher December-quarter profit on recovering rural demand.

However, large consumer goods makers, with topline exceeding 50 billion rupees ($571.2 million) are also facing stiff competition from smaller rivals, whose sales increased roughly twice as fast during the festive quarter, NielsenIQ said.

Consumer goods makers have also raised product prices to counter price increases in commodities such as copra and cocoa, with cooking oil maker Adani Wilmar ADAW.NS and Hindustan Unilever warning of further hikes.

Indians also preferred smaller product packs during the quarter, NielsenIQ said, echoing comments from Hindustan Unilever.

($1 = 87.5400 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Eileen Soreng)

(([email protected]; +91 867-525-3569;))

Jan 30 (Reuters) - Dabur India Ltd DABU.NS:

• Q3 CONSOL NET PROFIT 5.22 BILLION RUPEES; IBES EST. 5.15 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 33.55 BILLION RUPEES; IBES EST. 33.61 BILLION RUPEES

Further company coverage: DABU.NS

(([email protected];))

By Aditya Kalra

NEW DELHI, Jan 25 (Reuters) - India's Religare Enterprises RELG.NS said a U.S. businessman has made a proposal to acquire a 26% stake in it, the latest twist in the battle for control of the financial services company which has rejected another bid as being priced too low.

The Indian billionaire Burman family, which has founded and controls consumer goods conglomerate Dabur India DABU.NS, raised its stake in Religare to nearly 25% in September 2023, triggering a so-called open offer to buy more shares.

Through the open offer process, which starts on Jan. 27, the Burmans plan to buy around 26% more of Religare to bolster their presence in India's rapidly growing financial services sector, but Religare's independent directors flagged this week the offer price of 235 rupees per share was too low.

In a stock exchange disclosure late on Friday, Religare shared a letter from U.S. entrepreneur Digvijay "Danny" Gaekwad's firm requesting permission from Indian market regulator SEBI to make an open offer of 275 rupees per share for the Indian company, a 17% premium to the current offer.

A representative of the Burman family, Mohit Burman, and the market regulator SEBI did not immediately respond to requests for comment on Saturday. Florida-based Gaekwad did not immediately respond to a Reuters' email seeking comment outside of normal U.S. business hours.

Religare shares closed at 249.40 rupees on Friday, giving it a market value of 81.83 billion rupees ($949.30 million).

The Burmans, if they win control of Religare, will find themselves pitted against other Indian billionaire families in the financial services business, including Mukesh Ambani's Jio Financial Services JIOF.NS and family-controlled Bajaj Finance BJFN.NS.

But the Burmans' Religare bid has faced regulatory and legal challenges.

Earlier this week, Religare disclosed that a minority shareholder had approached the Delhi High Court, and was seeking to stop Burmans' open offer bid.

Legal papers show that the shareholder holds 500 shares in Religare, and the court on Tuesday issued a notice to Burmans and SEBI and said any subsequent action - such as an open offer - "shall be subject to the outcome" of the lawsuit.

($1 = 86.2000 Indian rupees)

(Reporting by Aditya Kalra and Siddhi Nayak; Editing by Muralikumar Anantharaman)

((Email: [email protected]; X: @adityakalra;))

Jan 13 (Reuters) - Dabur India Ltd DABU.NS:

• RECEIVES DEMAND ORDER FROM ADDITIONAL COMMISSIONER, CGST & CX, KOLKATA

• ORDER DEMANDS TOTAL OF 34.8 MILLION RUPEES

Source text: ID:nBSE91Zb95

Further company coverage: DABU.NS

(([email protected];;))

** Shares of Dabur India DABU.NS down 3%, set to fall for the first session in five

** Co estimates Q3 rev growth in low single-digit pct range vs analysts avg est of 4.8%, per LSEG data

** Estimates operating profit was flat

** BOBCAPS expects that to translate to a 1% rev shortfall and 2% operating income miss vs consensus estimates

** Stock among top pct losers on the Nifty FMCG index .NIFTYFMCG, which is down 0.3% on the day

** At least 3 of 38 covering analysts cut their rating, per LSEG data; avg rating is equivalent of "buy"

** CLSA flags slower-than-expected recovery, sharp rise in input costs, increasing competition as key risks; keeps "hold"

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Jan 3 (Reuters) - Dabur India DABU.NS, which makes products ranging from honey to toothpaste, estimated its revenue rose in the low single-digit percentage range in the third quarter due to subdued demand for healthcare and beverage products, it said on Friday.

Analysts, on average, had expected revenue growth to pick up to 4.8% in the October-December quarter, according to LSEG data, from a 5.5% decline in the previous quarter, which was the first drop in quarterly revenue since 2020.

Dabur India, much like its peers in the sector, has struggled with the double whammy of increasing costs for raw materials and low consumer demand due to high inflation, especially in food prices.

The company said demand from rural consumers continued to rebound faster than in urban regions. It also said it partially mitigated high input costs through price hikes and by cutting other expenses.

It estimated operating profit would be flat for the third quarter.

The company said revenue from its healthcare business, which accounted for about 31% of overall revenue last fiscal year, would likely be "flattish" due to a delayed winter.

It sells ayurvedic products for minor illnesses, such as coughs and colds, as well as immunity boosters.

Dabur India, which also sells the "Real" brand of fruit juices, said beverage sales were "muted".

Revenue from home and personal care products, which include air fresheners and dishwashing liquids and is its biggest business, increased in the mid to high single-digit percentage range.

The company's shares ended 2% higher on Friday ahead of the quarterly update. They slid 9% in 2024, the steepest drop in any year since 2008.

($1 = 85.7560 Indian rupees)

(Reporting by Ashna Teresa Britto; Editing by Savio D'Souza)

(([email protected];))

Dec 10 (Reuters) - The Reserve Bank of India (RBI) approved billionaire Burman family's plan to buy more shares in financial services provider Religare Enterprises RELG.NS, the company said on Tuesday.

The Burmans, who founded and control consumer goods conglomerate Dabur India DABU.NS, raised their stake in Religare to nearly 25% in September last year, triggering a so-called open offer to buy more shares.

The Burmans planned to buy around 26% more of Religare to bolster their presence in the rapidly growing financial services sector, but Religare refused to apply for regulatory approvals for the open offer.

Religare sought to prevent the Burmans from raising their stake, saying the offer was "riddled with irregularities and statutory violations and cast serious doubts on the fit and proper status of the acquirers".

The Burmans then approached the Securities and Exchange Board of India (SEBI), which, in June, asked Religare to apply for regulatory approvals for the open offer to go ahead.

Religare's shares were up 4% on Tuesday and have gained about 35% so far this year.

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Dec 6 (Reuters) - Dabur India Ltd DABU.NS:

• DABUR INDIA LTD - RECEIVES TAX DEMAND OF 44.2 MILLION RUPEES

• DABUR INDIA LTD - TO CHALLENGE TAX DEMAND ORDER

Source text: ID:nBSE7W48fX

Further company coverage: DABU.NS

(([email protected];))

Nov 26 (Reuters) - Dabur India Ltd DABU.NS:

• DABUR INDIA LTD - RECEIVES TAX ORDER CONFIRMING DEMAND OF 3.21 BILLION RUPEES

• DABUR INDIA - ADDITIONAL COMMISSIONER DROPS PENALTY ON CO IMPOSED UNDER EARLIER INTIMATION

Further company coverage: DABU.NS

(([email protected];))

By Praveen Paramasivam, Shivangi Acharya

CHENNAI/NEW DELHI, Nov 13 - India's city dwellers are cutting spending on everything from cookies to fast food as persistently high inflation squeezes middle class budgets, threatening the country's brisk economic growth.

Slowing urban spending over the past three to four months has not only hurt the earnings of largest consumer goods firms, it has raised questions about the structural nature of India's long-term economic success.

Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing.

"There is a top end – the people with money are spending like that is going out of style," Nestle India Chairman Suresh Narayanan said.

"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods (FMCG) firms used to operate in, which is the middle class of the country, that seems to be shrinking."

Nestle India, which makes Kit Kats and other well-known goods, reported its first quarterly revenue drop since the COVID-hit June quarter in 2020.

While there is no officially defined income bracket for Indian middle class households, they are broadly estimated to account for a third of India's 1.4 billion people.

They are considered a key demographic both economically and politically, with middle class frustration seen as a significant factor behind Prime Minister Narendra Modi's weaker election performance this year.

Asia's third-largest economy is expected to expand 7.2% in the financial year ending March 2025, the fastest among its major peers.

Belying those rosy projections, however, are signs of a sharp slowdown in the household sector.

Indian urban consumption hit a two-year low this month, according to an index published by Citibank that captures indicators such as airline bookings, fuel sales and wages.

"While some of the fall could be temporary, the key macro drivers remain unfavourable," Citi's chief India economist Samiran Chakraborty said.

Growth in inflation-adjusted wage costs for listed Indian firms - a proxy for earnings of urban Indians - has remained below 2% for all the three quarters of 2024, well below the 10-year average of 4.4%, data from Citi showed.

Chakraborty cites this as a key factor impacting urban consumption, along with declining savings and tighter rules for personal loans.

Headline inflation has averaged 5% over the past 12 months, but food inflation has held above 8% as weather shocks elevated prices of vegetables, cereals and other essential foods. In October, retail inflation hit a 14-month high of 6.2% while food prices jumped to 10.9%.

Anecdotal data suggests retail sales rose close to 15% year-on-year during the 2024 festive season, which runs from August to November, Nomura said in a note last week, about half last year's pace.

"During this festival season, we have not spent at all," said Rajwanti Dahiya, 60, who survives on her husband's monthly pension of 30,000 Indian rupees ($356.76).

"Savings are low, barely there."

A 'SHRINKING' MIDDLE

India's central bank expects 7.2% GDP growth for the fiscal year ending March 2025 on the back of improved rural demand and a strong services sector.

Higher government investment could also support demand, said Rahul Bajoria, head of India and ASEAN economic research at Bank of America.

"If government spending kicks in, that probably does have some multiplier effects on private consumption spending as well," said Bajoria, who expects GDP growth at 6.8% in the current financial year.

Some are less optimistic with Citi and IDFC First Bank economists expecting GDP growth in the July-September quarter to miss the central bank's projected 7%, weighed by slower urban consumption.

That pessimism has hit consumer stocks with the Nifty FMCG index .NIFTYFMCG declining 13% since Oct. 1, compared with a 7.4% drop in the benchmark Nifty 50 .NSEI.

Of the FMCG index's 15 constituent firms, only one reported a pickup in sales volume growth in the September quarter.

Consumers in large cities are swapping branded items from hair oil to tea for cheaper unbranded alternatives, reflected in the first sales volume decline in 11 quarters for the foods and refreshment group at Hindustan Unilever.

"We see the growth in big city standing down, although in smaller cities and in rural the growth continues to be good," Hindustan Unilever chief executive Rohit Jawa said last month, after reporting lower than expected earnings.

Consumers are also cutting back on dining out.

Fast-food chains such as McDonald's, Burger King, Pizza Hut and KFC posted same-store sales declines, earnings showed.

While people are still coming, they are choosing cheaper meals, Rajeev Varman, CEO at Burger King operator Restaurant Brands Asia RESR.NS said after posting a 3% drop in quarterly same-store sales.

"We prefer budget-friendly stores that give good deals and discounts to manage our monthly expenditure," said 37-year old Avinash Crasto, a Mumbai marketing and sales executive who has a family of four and identifies as middle class.

($1 = 84.0640 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Shivangi Acharya in New Delhi; Editing by Sam Holmes)

(([email protected]; +91 867-525-3569;))

** Shares of Dabur DABU.NS fall 1% to 540 rupees

** Co reported lower-than-expected profit in Q2, hurt by weaker demand in urban areas and above-average rains

** Nineteen of 39 analysts covering the stock cut PT after results- LSEG data

** Avg rating on the stock is "buy", median PT is 616.5 rupees - LSEG data

** Median PTs on peers Marico MRCO.NS, Hindustan Unilever HLL.NS at 722.5 rupees and 2,900 rupees, respectively, with "buy" rating

** Rising competition in beverages segment, delay in rural recovery key concerns - Bob Capital Markets

** Acquisition of debt-laden hair care company Sesa Care to address portfolio gap is unlikely to improve organic growth - Emkay Research

** DABU down 13% so far this month, set for biggest monthly fall since June 2008

** DABU down 5% YTD vs ~4% rise in Nifty FMCG index .NIFTYFMCG

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Oct 30 (Reuters) - Dabur India Ltd DABU.NS:

• HAS ENTERED INTO IMPLEMENTATION AGREEMENT WITH SHAREHOLDERS OF SESA CARE

• SHALL ACQUIRE 51% OF PAID UP CUMULATIVE REDEEMABLE PREFERENCE SHARES OF SESA

• DEAL FOR 125.9 MILLION RUPEES FOR PURCHASE OF 51% OF TOTAL PAID UP CRPS OF SESA

• AS PART OF MERGER, SHARES OF CO WILL BE ISSUED IN EXCHANGE OF SHARES, REMAINING 49% CRPS OF SESA CARE

• COMPLETION OF SESA CARE MERGER IN 15 TO 18 MONTHS SUBJECT TO REGULATORY APPROVALS

Source text: ID:nBSE4zyZQ1

Further company coverage: DABU.NS

(([email protected];;))

Oct 3 (Reuters) - Shares of Dabur India DABU.NS fell as much as 7.7% in early trade on Thursday, after the consumer goods maker forecast its first quarterly revenue decline in four years, citing weak demand in its food and beverages segment.

The stock was set for its worst day since mid-March 2022, and was among the top losers on the Nifty FMCG index .NIFTYFMCG which was down 0.74%.

Dabur on Tuesday said it expects a revenue fall in the mid-single digit percentage range for the quarter ended Sept. 30 as heavy rain and floods across parts of the country impacted "out of home" consumption.

This would mark its first revenue drop since the quarter ended June 2020, according to LSEG data.

The company faced a buildup of inventory and had to reduce channel inventory to boost distributor interest, said analysts at Antique Stock Broking.

Further, Dabur maintained its investment in brands, leading to a decrease in its operating margin to the mid-to-high teen percentage, the analysts said.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Varun H K)

(([email protected];))

Adds details throughout from paragraph 2-8

Oct 2 (Reuters) - Parachute oil maker Marico MRCO.NS said on Wednesday it expects second-quarter consolidated revenue to grow in high single-digit percentage, as price hikes kept domestic demand steady while it saw currency headwinds in some overseas markets.

The consumer goods maker expects its consolidated revenue to grow in double digits during the second half of fiscal year 2025.

Marico said its core Parachute coconut oil business recorded near mid-single digit percentage volume growth in the second quarter, owing to price hikes it had implemented in the beginning of 2024.

The company said it further hiked prices of its Parachute oil products at the end of the quarter due to the sequential rise in prices of copra, a key raw material, which rose ahead of Marico's internal forecasts in the second quarter.

Its Saffola oils segment, which houses cooking oils such as sunflower and rice bran, posted a low single-digit percentage revenue growth as rise in import duty pushed the prices of vegetable oil higher.

The company's Bangladesh operations, which had been impacted due to the political unrest in the country in August, saw high single-digit percentage growth as the challenging operating environment "largely stabilized".

Marico said the consumer goods sector saw stable demand trends, with rural volume growth outperforming urban demand on a year-on-year basis for the third quarter in a row.

Rival consumer goods maker Dabur India DABU.NS said on Tuesday it expects a decline in its second-quarter revenue, which would be its first drop in more than four years, due to weak demand in its food and beverages segment.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Shreya Biswas)

(([email protected];))

Oct 1 (Reuters) - Dabur India Ltd DABU.NS:

• EXPECTED TO POST A MID-SINGLE DIGIT DECLINE IN CONSOLIDATED REVENUE FOR SEPT-QUARTER

• HEAVY RAIN, FLOODS ACROSS INDIA IMPACTED OUT OF HOME CONSUMPTION, CONSUMER OFFTAKE DURING Q2

• OPERATING MARGIN EXPECTED TO DECLINE IN RANGE OF MID TO HIGH TEENS IN Q2

• LOWER PRIMARY SALES TO IMPACT PROFITABILITY IN Q2

• INTL BUSINESS EXPECTED TO REGISTER DOUBLE DIGIT CONSTANT CURRENCY GROWTH IN Q2 TOPLINE

Source text for Eikon: ID:nBSEbXGvcV

Further company coverage: DABU.NS

(([email protected];;))

** Shares of consumer goods maker Dabur India DABU.NS fall 4.5% to 626 rupees

** DABU's large shareholders, the Burmans, withdraw from race to buy 40% stake in Coca-Cola KO.N India's bottling arm, daily Financial Express reports

** Hindustan Coca-Cola Beverages (HCCB) only in talks with the Bhartias, large shareholders of Jubilant Foodworks JUBI.NS - report says citing sources

** If Burmans had stayed in race, DABU could have used HCCB's facilities to produce its 'Real' brand of juices - report

** DABU, JUBI and HCCB did not immediately respond to Reuters' requests for comment

** JUBI, which is a franchisee of Domino's Pizza DPZ.N in India, dips 0.4% on the day

** YTD DABU has gained 12.1%; JUBI has climbed 25%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected]))

Sept 16 (Reuters) - Jhandewalas Foods Ltd JHAD.BO:

• PROCURED ORDER WORTH 100 MILLION RUPEES FROM MOTHER DAIRY

• GOT ORDER WORTH 10 MILLION RUPEES FROM DABUR

Source text for Eikon: ID:nBSEY1jsh

Further company coverage: JHAD.BO

(Reporting by VijayDattaram Malkar)

(([email protected];))

- Source link: (https://bityl.co/RpRh)

- Note: Reuters has not verified this story and does not vouch for its accuracy

(Bengaluru newsroom)

(([email protected]; +91 80 6749 1310;))

Aug 8 (Reuters) - Indian consumer products' sales slowed sharply to a more-than-one-year low from April to June due to softening demand for personal care products and packaged wheat flour, especially in urban areas, market researcher NielsenIQ said on Thursday.

The overall sales volume growth slowed to 3.8% in the second quarter, compared with growth rates of 6.4% to 8.6% in the past four quarters, "largely due to macroeconomic headwinds," NielsenIQ said, without detailing the factors.

India's retail inflation hovered around 5% in the quarter, mostly due to high food prices, forcing consumers in the world's most populous country to cut back wherever possible to make ends meet.

The sales volume growth in rural areas slowed to 5.2%, from 7.6% in the previous quarter, but fared better than urban markets, where growth slowed even more sharply to 2.8% from 5.7%.

The growth in rural pockets outpaced urban areas for the first time in five quarters in the January-March period as consumer majors including Dove-soapmaker Hindustan Unilever HLL.NS trimmed prices to win back consumers.

In the coming quarters, packaged goods makers including rural-centric Dabur India DABU.NS and Emami EMAM.NS expect a further boost, helped by better monsoon and higher government spending, which usually translate to higher consumer spending.

"The timely arrival of monsoon, coupled with a rural-centric budget with a focus on rural infrastructure, agriculture and employment is a key positive for the sector," Dabur CEO Mohit Malhotra said on an earnings call earlier this month.

The likes of Maggi instant noodles-maker Nestle India NEST.NS and biscuits-manufacturer Britannia Industries BRIT.NS are also betting on rural recovery by making their products available at more stores.

For the June quarter, though, consumer goods makers have posted mixed results.

Urban-centric Nestle India reported its slowest growth in eight years as price increases drove consumers away, while more rural-focussed Hindustan Unilever reported higher earnings as price cuts boosted demand.

(Reporting by Praveen Paramasivam; Editing by Savio D'Souza)

(([email protected]; +91 867-525-3569;))

BENGALURU, Aug 2 (Reuters) - India's Dalmia Bharat Sugar and Industries DLMI.NS reported a 10.8% fall in first-quarter profit on Friday, hurt by higher inventory and expenses.

The company, which supplies sugar to companies like Coca-Cola KO.N, Britannia BRIT.NS, Dabur DABU.NS, and Carlsberg CARLb.CO, reported consolidated net profit of 547.3 million rupees ($6.5 million), compared to 613.4 million rupees year ago.

Revenue from operations rose 15.2% to 9.6 billion rupees. However, total expenses rose 19.2% to 9.01 billion rupees.

For further results highlights, click nFWN3JP2T9

KEY CONTEXT

Indian sugar companies have been battling increased inventory costs. While Dalmia Bharat's inventory cost rose more than two-fold in the first quarter, rival Dwarikesh Sugar Industries DWAR.NS and Dhampur Sugar Mills DAMS.NS saw those expenses grow more than five-fold and nearly 10% respectively.

India, the world's largest sugar consumer and second-biggest producer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices, leading to a larger inventory for the companies.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL-JUNE STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.7250 Indian rupees

(Reporting by Ashish Chandra in Bengaluru)

(([email protected]; +91 7982114624;))

BENGALURU, Aug 1 (Reuters) - Consumer goods maker Dabur India DABU.NS reported first-quarter profit in line with expectations on Thursday, as rural demand picked up, particularly for its personal care products.

The toothpaste-to-honey maker's consolidated net profit rose 8% to 5 billion rupees ($59.73 million) in three months ended June 30 meeting analysts' average estimate, as per LSEG data.

The sales of fast-moving consumer goods started showing signs of recovery in the January-March period, with rural growth outpacing urban areas for the first time in five quarters.

The rural segment accounts for 45%-50% of Dabur's total revenue.

The consumer care segment, which contributes 77% to the company's revenue mix, climbed 7% during the quarter, aiding a 7% rise in total revenue.

The company's earnings were also aided by stable commodity prices during the quarter. It posted a 1% rise in the cost of raw materials.

Early onset of monsoon has boosted the prospects of bumper harvests that could further drive farm incomes and rural consumption, analysts said.

Dabur's shares rose 1.5% after the results. They gained 15% in the June quarter compared to a 5.2% rise in the Nifty fast-moving consumer goods index .NIFTYFMCG.

Dove soapmaker Hindustan Unilever HLL.NS reported higher earnings due to increased demand following price cuts. In contrast, KitKat producer Nestle India NEST.NS experienced its slowest growth in eight years, as price hikes led to reduced consumer spending.

($1 = 83.7090 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng)

(([email protected];))

** Shares of India's Dabur DABU.NS rose as much as 4.5% in the day; last up 3.5%

** DABU issued upbeat Q1 update on Friday, said India business volume growth in mid-single digit

** Expect demand improvement to accelerate in coming months, DABU added

** Favorable monsoon and easing inflation expected to improve consumer sentiment, Dabur "well positioned" to benefit - brokerage Centrum

** Centrum maintains "buy" rating on DABU; co, on an average, also rated "buy" - LSEG data

** Broader consumer stocks gauge .NIFTYFMCG up 0.8%, lifted by Marico MRCO.NS and Adani Wilmar ADAW.NS after upbeat qtrly updates

** YTD stock has risen 13.2% vs 2.5% gains in NIFTYFMCG

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

BENGALURU, July 5 (Reuters) - Parachute oil maker Marico MRCO.NS on Friday said sales volume growth at home saw a modest increase in the first quarter ended June 30 as demand improved gradually with consumers spending more on personal care and cooking products.

Rivals Dabur DABU.NS, Godrej Consumer Products GOCP.NS and Adani Wilmar ADAW.NS are yet to post quarterly updates.

WHY IT'S IMPORTANT

Volume trends from key consumer goods companies, which sell everything from hair oil, cooking oils to oats, are seen as an important indicator of consumption patterns in the country.

KEY CONTEXT

Marico makes more than a quarter of its sales from rural India, while rival Dabur brings in almost half of its overall sales from villages and small towns. Both are expected to be key beneficiaries of the recovery in rural demand.

Rural demand, which was dampened in financial year 2024 due to persistently high inflation and consumers tightening their wallets, has been gradually recovering as companies cut prices of their products, as per analysts.

However, that demand has not yet fully recouped.

BY THE NUMBERS

Marico's consolidated revenue in the three-month period grew by a high single-digit percentage, despite the residual impact of pricing cuts in its cooking oils business and currency headwinds in overseas markets, the company said. Its March-quarter revenue had grown 2%.

Its domestic business posted a "modest uptick" in underlying volume growth sequentially, while the international business saw double-digit growth, Marico added.

Marico had posted low single-digit percentage growth or a fall in revenue for eight straight quarters.

(Reporting by Varun Hebbalalu and Ashna Teresa Britto in Bengaluru; Editing by Nivedita Bhattacharjee and Sohini Goswami)

(([email protected];))

Updates with Burman family statement, closing levels in paragraphs 8 and 9

BENGALURU, June 20 (Reuters) - India's markets regulator has asked Religare Enterprises RELG.NS to apply for approvals to let the billionaire Burman family buy more shares in the financial services company, dealing a blow to the company's attempt to block the move.

The Burmans, who founded and control consumer goods conglomerate Dabur India DABU.NS, raised their stake in Religare to nearly 25% in September last year, triggering the so-called open offer requirement that allows them to buy more shares from public shareholders.

However, Religare had sought to block the deal saying the open offer was "riddled with irregularities and statutory violations and cast serious doubts on the fit and proper status of the acquirers".

The Burmans -- who want to buy around 26% more of Religare to bolster their presence in the rapidly growing financial services sector -- approached the Securities and Exchange Board of India (SEBI) due to the company's lack of cooperation.

The SEBI, in an interim order dated June 19, asked Religare to furnish an undertaking that it will apply by July 12 to regulatory authorities, including the central bank, for approvals for the open offer.

It also asked Religare to form a committee of independent directors, if not already done, but did not give a reason for the directive.

"As per SEBI's advisory the company will apply for the fit and proper status of the acquirers for the open offer to the concerned regulators including the RBI (Reserve Bank of India)," a spokesperson for Religare said in a statement.

"We remain committed to completing the open offer in the interest of public shareholders of Religare Enterprises," a spokesperson for the Burman family said in a statement.

Shares of Religare, which have fallen about 13% since Burmans announcing open offer last September, closed 3.9% higher on Thursday.

(Reporting by Sethuraman NR and Hritam Mukherjee in Bengaluru; Editing by Savio D'Souza and Mrigank Dhaniwala)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))