Dabur Sees Q4 Revenue In Mid-Single Digit, Shares Fall
'Demand trends remained sluggish during the quarter,' Dabur said in a release on Thursday.
Shares of Dabur India Ltd. fell on Thursday after it said its fourth-quarter revenue may come in mid-single digits on sluggish demand.
"Demand trends remained sluggish during the quarter," said Dabur in a release on Thursday.
The FMCG-company expects high single digit growth in the home and personal care space during the March quarter. Further, Dabur sees its operating profit rising slightly ahead of revenue after posting an annual improvement.
Its international business is expected to grow in double digits in Q4, the company said in an exchange filing.
Shares of the company fell as much as 3.47% to Rs 512.60 apiece, the lowest level since March 26. It was trading 3.11% lower at Rs 514.50 apiece, as of 1:16 p.m. This compares to a 0.21% advance in the NSE Nifty 50 Index.
The stock has declined 7.66% in past 12 months. Total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 37.41.
Out of 45 analysts tracking the company, 33 maintain a 'buy' rating, 11 recommend a 'hold,' and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 18.7%.
