Dabur India flagged sluggish demand in the March quarter as it showed slowing revenue growth sending the company's shares to a near six-month low. The company said it expects mid-single digit percentage revenue growth in the quarter ended March 31, compared to a 7% rise in the December-quarter.

“Dabur's consolidated revenue is expected to register mid-single digit growth during Q4 FY24. The inorganic revenue growth which was to the extent of around 2.3% till YTD Dec 2023 on account of Badshah acquisition is now factored in the base,” the company said in a statement.

In India business, HPC segment is expected to grow in high-single digits. Healthcare and F&B segments are expected to register low single digit growth. F&B had a high base of last year and l-1ealthcare portfolio was impacted due to delayed winter. Badshah Masala continued to perform well and is expected to post strong volume led growth in high teens. We continued to gain market share across our categories driven by strong execution in market.

International Business is expected to register double-digit growth in constant currency terms, led by good momentum in MENA region, Egypt & Turkey. However due to impact of currency'depreciation in Turkey and Egypt the translated revenue in INR terms will show growth in mid single digits.

Gross margins are likely to continue to witness expansion on account of deflation in input cost and cost- saving initiatives. In line with the strategy to invest behind our brands we will see higher A&P spends. The operating profit is expected to grow slightly ahead of the revenue and post an improvement in Y-o-Y operating margins.

While the past year was challenging in terms of consumer demand, we expect improvement in consumption going forward as macro-economic indicators continue to be robust. Our focus on investing behind our brands, distribution expansion, manufacturing capabilities and organization will keep us in good stead to capture the opportunities in the market place.