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11

Edelweiss India Conference - 2010Mumbai, March 2010

Dabur India Limited

Investor Presentation

22

IndexIndex

Growth Strategy

Financials

Business Overview

Dabur India-Introduction

FMCG Industry Scenario

33

Dabur India: Key HighlightsDabur India: Key HighlightsLeading personal and healthcare company : Among top four FMCG Companies in India

Revenue of more than Rs. 28.3 billion and profits of more than Rs. 3.9 billion in FY2008-09

Strong brand equity

Dabur is a household brand

Vatika and Real are Superbrands

Hajmola , Real & Dabur ranked among India’s Most Admired Brands

Wide distribution network covering 2.8 million retailers across the country

Strong overseas presence with 20% contribution to consolidated sales

Eight Billion Rupee Brands

44

in %

EBITDA Margin (in %)

Strong FinancialsStrong Financials

13.3

15.3

17.118.1 18.5 18.3

FY04 FY05 FY06 FY07 FY08 FY09

Sales

in Rs. million

6 yr CAGR – 18%

^Sales show a decline in FY04 on account of de-merger of Pharma business*Balsara acquisition added 10% to topline in FY06

Net Profit

1,065

1,558

2,142

2,817

3,329

3,913


in Rs. million

CAGR - 30%

55

Strong Manufacturing BackboneStrong Manufacturing Backbone

NigeriaNigeriaEgyptEgypt

UAE

1.Sahibabad, U.P

2. Uttaranchal

3.Baddi, H.P

4.Jammu, J&K

5.Katni, M.P

6.Siliguri, W.B

7.Jaipur, Rajasthan

8.Silvassa

Manufacturing Locations - Global

1

2

3

4

5 6

7

8

Bangladesh

Nepal

Manufacturing Facilities

Manufacturing Locations in India

66

Supported by Robust Distribution NetworkSupported by Robust Distribution Network

C&FA

Stockist Super Stockist Institutions & Modern

trade

Wholesalers

RETAIL TRADE

Sub Stockist

CONSUMERS

Factory

Direct + Indirect Reach covering 2.8 Mn Retail Outlets

(Carry & Forward Agents)

77

And Research & Development StrengthsAnd Research & Development Strengths

New Product Development

Ayurvedic Medicines

Personal Care

Foods

Home Care

OTC Healthcare

Team of 50 scientists including Ayurvedic doctors, Pharmacists, Agro-nomists, Botanists, Tissue Culture specialists, etc

Collaboration with govt agencies

Agronomy Initiatives

Protecting endangered herbs

Technical assistance to farmers

Contract cultivation of herbs

Green House at Nepal

Environmental Initiatives

Effluent Management

Alternate sources of energy

Carbon footprint mapping

Dabur introduced more than 20 new products/variants during FY09

88

Leading to Strong Presence in FMCG CategoriesLeading to Strong Presence in FMCG Categories

Hair care includes Hair Oils & Shampoos; Oral care includes Toothpastes & Toothpowder; Skin care includes moisturizers, face cleaning, lightening, anti ageing & other skin care productsDigestives includes herbal digestives

Hair Care

Oral Care

Chyawanprash

Digestives

12%3 Dabur Amla hair Oil, Vatika hair oil & Vatika Shampoos

13%3 Red toothpaste, Babool, Meswak, Red toothpowder

7%3 Dabur Gulabari, Fem, Dabur Uveda

60%1 Dabur Chyawanprash

55%1 Hajmola

Market SharePosition Key BrandsCategory

Skin Care

Fruit Juices 45%1 Real Fruit Juices, Real Activ

99

Personal Care22%

Food Products43%

Fabric Care12%

Hair Care8%

OTC Products4%

Baby Care2%

Household4%

Others5%

FMCG Industry SnapshotFMCG Industry SnapshotKey Highlights

Category-wise share of the Sector FMCG Growth : Urban & Rural

FMCG Industry Size

Indian FMCG industry size estimated at around US$ 25 bn.

Personal care & Food products dominate the sector

Many categories are currently small and offer huge potential

Steady double digit growth in the sector

Rural India contributes c. 33% of the overall FMCG sector.

Source: AC Nielsen

Source: AC NielsenSource: AC Nielsen

in Rs. billion MAT Dec 2008

MAT Dec 2009

FMCG Industry Size 1,023.9 1,161.1

Growth rate (%) 13.4%

3%

9% 10%12%

12%

15%

11%

-8%

-1%1%

16%

10%12%

18%

-10%

-5%

0%

5%

10%

15%

20%

CY03 CY04 CY05 CY06 CY07 CY08 CY09

Urban Rural

1010

7.4%

18.2%

5.1%

14.8%12.8%

18.7%

9.0%

17.1%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

20.00%

Shampoo Hair Oil^ Toothpaste Chyawanprash

Urban Rural

Rural Growth DriversRural Growth Drivers

* Source: CERG report on Consumer India

Source: AC Neilsen Apr-Dec 2009. ^Apr-Aug 2009

5 710

1619

0.7% 0.8% 0.9%

1.5% 1.6%

0.0%0.2%0.4%0.6%0.8%1.0%1.2%1.4%1.6%1.8%

0

5

10

15

20

2006 2007 2008 2009RE 2010BE

US $ Bn As a % of GDP, Rs

Key Drivers

Multitude of structural factors driving rural demand - incomes, consumptions & govt led investments

No of rural households with annual income of more than US$2000 have touched 56 million*

Government has allocated Rs 400 bn towards National Rural Employment Generation Act (NREGA), which will help sustain and rev up rural demand

Rising farm incomes: Increasing productivity as a result of improved mechanisation and increasing power availability leading to higher farm incomes

Consumption growth: The US$200bn annual consumption expenditure of 152m rural households expected to accelerate, powered by rising farm and non-farm incomes

Category Growth: Urban Vs Rural

Source: Budget Estimates, Morgan Stanley Research

Increase in Rural spend by Government

1111

Penetration Levels: Sufficient HeadroomPenetration Levels: Sufficient Headroom

Hair Oil 22,631 94 96 93Health supplements* 1,681 8 14 5Packaged fruit Beverage 12,000 16 30 10Mosquito repellants 66,70 32 58 20Washing powders 47,027 90 93 89Washing cakes/ bars 28,269 88 91 86Utensil cleaners NA 29 59 16Shampoo 19,173 51 62 46Toilet Soap 62,170 91 96 89Tooth Paste 24,835 56 79 45Tooth Powder 4,551 31 26 33Fairness Creams NA 16 20 14Cold Creams NA 1 3 1Skin Cream 24,551 23 30 19Branded Baby Oil NA 2 2 1

Rural %Category Size (Rs Mn)Category Name All India % Urban %

Source: Industry Data, Indian Readership Survey 2008 Round 2

Low penetration levels: Room for sustained growth

Move rural penetrationto urban

levels

1212

0.5

1.0

0.4

2.9

2.0

0

0.5

1

1.5

2

2.5

3

3.5

China Indonesia India Malaysia Thailand

3.2

0.8 0.3

7.4 7.7

0

1

2

3

4

5

6

7

8

9


1.0 1.1

0.3

2.72.4

0

0.5

1

1.5

2

2.5

3


Per Capita Consumption: Room for GrowthPer Capita Consumption: Room for Growth

Toothpaste – Per Capita Consumption (in US$)

Skin Care – Per Capita Consumption (in US$) Shampoo – Per Capita Consumption (in US$)

in US$

in US$

in US$

Source: MOSL

India has low per capita consumption as compared to other emerging economies

1313

Key Players: FMCGKey Players: FMCGUSD Million

Source: Published results for year ending 31.03.09

*Year ending 31.12.08

**Year ending 30.06.09 annualized

***Year ending 31.12.04

Note: Market Cap. as of 29.1.10

Company Key Categories Sales Profit Market Cap

Hindustan Unilever Ltd Soaps, Detergents, Personal Care, Foods 4,383 536 11,091

Nestle India Ltd* Food, Beverages, Infant nutrition 915 119 5,140

Dabur India Ltd Personal, Health & Homecare, Foods 590 82 2,883

Britannia Industries Ltd Biscuits 706 38 780

Colgate Palmolive (I) Ltd Oral Care & Toiletries 374 61 1,936

Marico Ltd. Hair care, Food, Skincare 478 38 1,255

Glaxo Smithkline Consumer* Consumer Health Care 309 38 1,179

Cadbury India Ltd Chocolates, Confectionery, Nutrition 195 10 Unlisted

Reckitt Benckiser (India) Ltd*** Home Care 168 21 Unlisted

Godrej Consumer Products Ltd Hair Care, Soaps 290 36 1,554

Procter & Gamble** Feminine Hygiene, personal care 157 35 1,146

1414

Dabur: Business StructureDabur: Business Structure

Business Unit

Consumer Care Division

Consumer HealthDivision

International Business

Description

FMCG portfolio comprising four distinct businesses: •Personal Care•Health Care•Home Care•Foods

Range of ethical and OTC products that deliver the age-old benefits of Ayurveda in modern ready-to-use formats

Caters to the health & personal care needs of customers across different international markets spanning Middle East, North & West Africa, South Asia, EU and US through its brands Dabur and Vatika

Dabur operates through three focused Strategic Business Units

Note: Percentage share in revenue based on 9MFY10 Financials ; Femcare included in Consumer Care Division

Revenue Share

72%

8%

18%

1515

Consumer Care Division OverviewConsumer Care Division Overview

10,15812,250 14,013

16,39218,658 20,620

-

5,000

10,000

15,000

20,000

25,000


FPD: Family Products Division

HCPD: Health Care Products Division

Balsara and Fem were acquisitions

Foods division was a 100% subsidiary of DIL

in Rs. million

CCD Sales - HistoricalCategory-wise Share of CCD Sales

CAGR - 15.2%

HCPD

CCD

FPD Balsara Foods FEM

2003-2004 2006-2007 2007-2008 2008-2009

Hair Care , 31%

Oral Care , 18%

Health Supplem

ents , 20%

Digestives, 9%

Skin Care, 3%

Home Care, 5%

Foods, 14%

Note: Percentage share in revenue for 9MFY10

1616

Consumer Care Category PerformanceConsumer Care Category PerformanceGrowth Rate (Y-o-Y) for 9M FY2009-10

Consumer Care Division witnessed growth of 16% during 9MFY10

Hair care the largest category posted growth of 18%

Oral care posted 12% growth with toothpastes growing at 20%

Foods reported robust growth of 22%

Skin care grew by 30% led by Gulabari brand and its extensions

1717

Hair Oils category witnessing shift towards packaged oils from loose oils

Hair oils witnessed growth of 14% for YTD Dec ’09

Dabur Amla Hair Oil has grown strongly backed by consumer activation plans, LUP thrust (Re.1 per sachet) and wholesale activation across key geographies

Launched two new variants in light Hair oil category

Hair OilsHair Oils

7%

16%

3%

6%

31%

37%

Bajaj Dabur Dey's Medical

Emami Marico Others

Hair Oils – Market Share

Dabur Amla: Largest brand in the portfolio

Vatika: Value added coconut oil

Anmol Hair Oil: Value proposition

Value Share-ACN June, 09Vatika Enriched Almond Hair Oil

Key Brands

Key Initiatives

Amla: New Pack driving growths

1818

Dabur Total protect rolled out nationally

11%7%

46%2%

3%

24%8%

Cavinkare DaburHindustan Unilever ITCL'oreal P&GOthers

Shampoos – Market Share

Value Share-ACN June, 09

Vatika range of shampoos Dabur Total Protect Ayurvedic Shampoo

ShampoosShampoosDabur has positioned its Shampoo range

on the herbal platform

The Shampoos range comprises 7 variants

Shampoo category posted growth of 32% during the 9 months period .

Dabur Total Protect ayurvedic shampoo was launched in H1 FY2009-10

Key Brands

Key Initiatives

1919

Dabur offers Herbal oral care products based on natural ingredients

Dabur is a strong no.3 player in the Oral Care category

Oral Care recorded a growth of 12% during 9MFY10.

Babool Mint Fresh Gel launched in August’09 and received a good response

Dabur Red Tooth Paste was re-launched with new communication and packaging

RTP:Re-launched in New packLaunch of Babool Mint fresh-Gel based paste in August, 2009

3.3%48.7%

12.8%

23.6%11.5%

Anchor Health Colgate DaburUnilever Others

Oral Care – Market Share


Dabur Red: Toothpaste & Toothpowder

Babool: Targeted at economy segment

Meswak: Premium therapeutic toothpaste

Oral CareOral CareKey Brands

Key Initiatives

2020

Health Supplements comprises Chyawanprash, Honey and Glucose

Category grew at 15% during 9MFY10

Dabur Chyawan Prash gained 140 bps market share growing by 11.5%

Dabur Glucose performed well with 59% growth.

Dabur Honey reported 15% growth with a new ad campaign and introduction of Rs.10 pack

13.2%

60.3%

8.1%

0.1%1.1% 6.3% 10.9%

Baidyanath Dabur Emami Mayer India

Ranbaxy Zandu Others

Health Supplements (Chyawanprash)


Dabur Chyawanprash: Largest selling Ayurvedic health supplement in the country

Dabur Glucose: 2nd largest player in the country

Dabur Honey: Largest branded honey in the country; growing category through replace sugar strategy

Health SupplementsHealth SupplementsKey Brands

Key Initiatives

Dabur Chyawan

Junior relaunched

Strong performance by DCP led by Immune India Campaign & Trade activations

2121

Digestives category includes Hajmola tablets and candies

Digestives category reported growth of 13% in 9MFY10

Hajmola Tablets’ growth driven by the proposition of “post meal consumption” and activation programs (Street Foods, Organised food retail etc.)

Hajmola candies growth driven by new SKUs and school activation tie-ups with kids channels

New variants like Pudina and Kacha Aam along with aggressive activations driving growth

Kachha Aam Launched in Dec ’09

55%

7%

38%

Hajmola Satmola Others

Herbal Digestives – Market Share

Value Share-ACN March,09Candy new packaging

Hajmola: Flagship brand for branded Digestives

Hajmola tasty digestive candy

DigestivesDigestivesKey Brands

Key Initiatives

2222

Fem Skin care : Acquired recently

Dabur Uveda Fairness

58.9%

6.8%

6.6%

6.4%

3.2%

18.0%

Hindustan Lever Emami DaburLoreal Cavin Care Others

Skin Care* - Market Share

*Company estimates; Includes Fem skin care portfolio

Gulabari range of rose based skin care products: Moisturizer, Face freshener & Rose water

Skin CareSkin CareKey Brands

Key Initiatives

Three pronged strategy to build strong presence in this category

Gulabari skin care range positioned at the mass segment

Fem range of beauty and skin lightening products; and

Uveda Ayurvedic skin care positioned in the “masstige” segment

Skin care delivered strong growth of 30% in 9M FY10

Uveda, the newly launched skin care product range on Ayurvedic platform, met with encouraging consumer response. Pan India roll out expected in FY2010-11

2323

Home Care category comprises air freshners, mosquito repellants and surface cleaners

Category reported a growth of 8.4% during 9MFY10

Odonil air fresheners range has been re-launched and performed well in Q3FY10

Consumer promotions combined with new advertising leading to growth in Sani Fresh

Odonil Air Fresheners re-launched in Q3FY10

Surface Cleaners: Continued selective advertising & presented new-news through tag-ons

20%

20%

30%

5%

26%

Odonil Air wick Premium Ambipur Others

Air Fresheners– Market Share

Value Share-ACN March,09 for Air Freshener (Aerosols) category

Odonil: Air freshner range: Largest brand in the portfolio

Odomos: Mosquito repellant skin cream

Sanifresh: Toilet cleaner

Home CareHome CareKey Brands

Key Initiatives

2424

Foods comprises juices and culinary range

Real is the market leader in fruit juice category

Foods delivered growth of 22% during 9MFY10 led by both Juices & Culinary range

Hommade the culinary brand has been relaunched and posted 34% growth in 9MFY10

Hommade RelaunchMickey association leading to higher growths

45%

36.4%

15.5% 3.7%

Dabur Pepsi Priya Gold Others

Fruit Juices – Market Share

Value Share-ACN May, 09 ; Fruit Juice category

Real: Flagship beverages brand

Real Activ: Range of 100% pure juice

Real Burrst: New fruit Drink brand

FoodsFoodsKey Brands

Key Initiatives

2525

Fem CareFem CareFem care acquisition completed on June 25, 2009

Strong growth continued in Fem Care growing at 25.5% during Q3FY10

Improvement in profitability with PAT of Rs.6.22 crore during Q3FY10 vs. loss of Rs.3.9 crore last year

EBITDA Margin improved from 12.7% to 18.5% in 9MFY10

Key Initiatives driving growth:

Continuous media presence across key categories with national TV campaign for Fem Herbal Bleach, Oxy bleach & Hair Removal System (HRS).

Making brands more visible across trade channels.

Building the superiority of FEM bleaches through seminars & demonstrations

Parlor channel being leveraged and scaled up; parlour seminars held in key cities

Oxy Bleach International Fashion Week in MediaVisibility Drives

2626

Consumer Health DivisionConsumer Health DivisionDescription

Dabur is the largest OTC Healthcare company in India (Source: Nicholas Hall’s OTC Yearbook 2008)

CHD :Repository of Dabur’s Ayurvedic Healthcare knowledge

Plans underway to build a comprehensive strategy for a greater push in OTC Health space

CHD recorded a growth of 15.8% during 9MFY10 with OTC portfolio growing by 15.0% and Ethicals by strong 17.3% growth

CHD Structure

OTC (57%)

Generics

Branded Products

ETHICAL (43%)

Tonic

Classicals

Branded Ethicals

Focus on Dabur Ayurveda: Generating equity for Ethical portfolio Pudin Hara :Leading Digestives

OTC brand First ever Ad spend on Hingoli in Seven years

2727

International Business DivisionInternational Business Division

New products contributing significantly to overseas sales

1,2811,807

2,2582,917

3,760

5,250

0

1000

2000

3000

4000

5000

6000

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09

Highlights

IBD registered a topline growth of 31% for 9MFY10

Dabur’s overseas business now contributes 20% to consolidated sales led by CAGR of 33% in last 5 years

Focus markets:

GCC

Egypt

Nigeria

Bangladesh

Nepal

U.S.

High level of localization of manufacturing and sales and marketing

Leveraging the “Natural” preference among local consumers to increase share in personal care categories

Sustained investments in brand building and marketing

High Growth in IBD

in Rs. million

CAGR - 33%

2828

Growth StrategyGrowth Strategy

THREE PRONGED STRATEGY FOR SUSTAINING GROWTH

EXPAND

INNOVATEACQUIRE

DABUR INDIA

LIMITED

2929

Expansion StrategyExpansion Strategy

Targeting inorganic opportunities

Market Entry: Acquisitions critical for building scale in existing categories & markets

Synergies: Should be synergistic and make a good strategic fit

Geographies: Opportunities in focus markets

Expanding across geographiesOverseas markets: 20% of

overall company; target to sustain higher growth rates

South India: Increased contribution from 7% to 12%; Continued focus on the relevant portfolio to grow contribution

Strengthening new categoriesSkin Care: Ayurvedic skin care

range under a new brand launched; Acquisition of Fem

OTC Healthcare: Leveraging Ayurveda knowledge for a range of OTC herbal products

Fruit Drinks and Culinary: Entry into the fast growing fruit drinks category leveraging the Real franchise

Strong innovation programmeContribution: New products to

contribute 5-6% of revenuesFocus Categories: New product

activations planned up in all categories

Renovation: Periodic brand renovations to keep older products salient

3030

Inorganic StrategyInorganic StrategyAcquisition of Balsara

Balsara Group of Companies acquired in 2005 for Rs. 1.4 billion

Attractive oral care business on herbal platform; good strategic fit with Dabur

Well established brands in Home Care: Gave Dabur entry into Home Care category

Was fully integrated and turned around in the first year of acquisition

Generated significant revenue and cost synergies

Acquisition of FEM

Fem Care acquired in 2008 for Rs. 2.6 bn

Fem has entrenched equities in fairness bleach category; Market leader with over 60% market share.

The transaction gives Dabur entry into high growth skin care market with an established brand ‘FEM’ and strong product capabilities in skin care.

Acquisition expected to lead to significant revenue and cost synergies for Dabur and Fem Care

3131

18.1%

19.5%

17.00%

17.50%

18.00%

18.50%

19.00%

19.50%

20.00%

9MFY09 9MFY10

20,97125,356

05000

10000

1500020000

25000

30000

9MFY09 9MFY10

Sales: 9MFY10 v/s 9MFY09

in Rs. million

20.9%

Sales PerformanceSales Performance

Sales growth led primarily by continued double digit volume growth

Growth excluding unbranded business (commodity exports, retail etc.) at 22.4% for 9MFY10

Fem Care Pharma which was acquired in 2008-09 and consolidated with DIL w.e.f. 26th June 2009 added about 3% in 9MFY10 to topline.

EBITDA margin expanded by 148 bps during 9MFY10 led by lower input costs.

PAT increased by 28.4% during the 9MFY10 due to strong topline, improving gross margins and operating leverage despite higher ad spend & tax provisioning

148 bps

EBITDA Margin: 9MFY10 v/s 9MFY09

2,8693,683

0

1000

2000

3000

4000

9MFY09 9MFY10

PAT: 9MFY10 v/s 9MFY09

in Rs. million

28.4%

* PAT refers to Net Profit after Minority Interest

3232

Promoters, 69.5%

Mutual Funds, 2.5

%

Banks/FIs/ Insurance Cos., 8.1%

FIIs, 13.1%Indian

Public and Others, 6.9

%

Stock Performance & Shareholding PatternStock Performance & Shareholding Pattern

Dabur Outperformed the index by 36% during the period Dec 2008 to Dec 2009

*As on November 20, 2009

Shareholding Structure*Dabur’s Stock Price vis-à-vis NIFTY

3333

DIL Consolidated P&L 9MFY10 & Q3FY10DIL Consolidated P&L 9MFY10 & Q3FY10in Rs. million Q3FY10 Q3FY09 YoY (%) 9MFY10 9MFY09 YoY (%)

Gross Sales 9,325.6 7,862.1 18.6% 25,356.3 20,970.5 20.9%

Less:Excise Duty 63.8 75.6 187.6 232.7

Net Sales 9,261.8 7,786.5 18.9% 25,168.7 20,737.8 21.4%

Other Operating Income 39.9 55.8 -28.5% 146.0 209.0 -30.1%

Material Cost 4,204.2 3,967.7 6.0% 11,550.5 10,339.3 11.7%

% of Sales 45.1% 50.5% 45.6% 49.3%

Employee Costs 731.2 620.9 17.8% 2,050.0 1,755.2 16.8%

% of Sales 7.8% 7.9% 8.1% 8.4%

Ad Pro 1,349.3 875.6 54.1% 3,688.6 2,469.8 49.3%

% of Sales 14.5% 11.1% 14.5% 11.8%

Other Expenses 1,203.9 1,032.7 16.6% 3,169.2 2,764.5 14.6%

% of Sales 12.9% 13.1% 12.5% 13.2%

Other Non Operating Income 19.4 58.5 -66.8% 98.8 170.0 -41.9%

EBITDA 1,832.5 1,403.9 30.5% 4,955.2 3,788.0 30.8%

% of Sales 19.7% 17.9% 19.5% 18.1%

Interest Expenses 37.2 69.1 -46.2% 106.9 148.9 -28.2%

Depreciation/Amortization 145.6 108.8 33.8% 408.3 348.7 17.1%

Profit Before Tax (PBT) 1,649.7 1,226.0 34.6% 4,440.0 3,290.4 34.9%

Taxes 271.3 152.0 78.5% 746.4 434.9 71.6%

Profit After Tax (PAT)(Before exceptional item) 1,378.4 1,074.0 28.3% 3,693.6 2,855.5 29.4%

% of Sales 14.8% 13.7% 14.6% 13.6%

PAT (After exceptional Items) 1,378.4 1,074.0 28.3% 3,691.3 2,855.5 29.3%

PAT (After Extra ordinary item & Minority Int) 1,377.7 1,084.5 27.0% 3,683.2 2,869.3 28.4%

Basic EPS (Rs) 1.59 1.24 4.26 3.3

3434

in Rs. million As on 31st Dec 09 As on 31st Dec 08Sources Of FundsShareholders' Fund:Share Capital 866.0 865.0Reserves & Surplus 10,246.0 7,447.0

11,112.0 8,313.0Minority Interest 83.0 36.0Loan Funds:Secured Loans 1,032.0 1,410.0Unsecured Loans 1,075.0 2,107.0 1,259.0 2,668.0

Deferred Tax Liability 384.0 296.0TOTAL 13,686.0 11,313.0

Application of funds:Fixed Assets:Gross Block 12,154.0 8,420.0

Less: Depreciation 3,378.0 2,922.0Net block 8,776.0 5,498.0Investments 2,588.0 2,008.0Current Assets,Loans & AdvancesInventories 4,373.0 4,225.0Sundry Debtors 2,136.0 2,020.0Cash & Bank balances 1,514.0 2,600.0Loans & Advances 3,760.0 11,783.0 2,853.0 11,698.0

Less: Current Liabilities and ProvisionsCurrent Liabilities 6,736.0 5,074.0Provisions 3,040.0 3,162.0

9,776.0 8,237.0Net Current Assets 2,007.0 3,461.0Miscellaneous Expenditure 56.0 105.0Deferred Tax Assets 261.0 240.0TOTAL 13,686.0 11,313.0

DIL Consolidated Balance Sheet as on 31st Dec’09DIL Consolidated Balance Sheet as on 31st Dec’09

3535

AccoladesAccolades

Dabur India Ltd was ranked the Business Leader in the FMCG -Personal Care Category at the NDTV Profit Business Leadership Award 2008

Ranked 28th in ET-Brand Equity Most Trusted Brands 2009 list.

Listed in Forbes’ 200 Best Under-A-Billion Companies List

Ranked 79th in 'Super 100' list announced by Business India

Ranked 182 in ET-500, the annual listing of India's Blue Chip companies by The Economic Times. Also ranked as the fourth largest pure-play FMCG company in the list.

Ranked 25th most valuable brand in the list of India's 100 Most Valuable Brands, by 4Ps.

Voted as the fourth Most Liked Health Brand in the country in consumer survey conducted by 'Complete Wellbeing' magazine

Dabur India Ltd has been awarded the Top Marketer Award for 2009 in the Consumer Goods category by Pitch magazine

3636

Investor RelationsDabur India Ltd

Contact:+91-11-42786000

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