Dabur India to focus on business expansion, sets aside Rs.250 crore as capex
India's FMCG major, Dabur India said it has set aside Rs.250 crore as capex for the next one year for building a greenfield facility that would manufacture a range of consumer products as well as upgrading its existing facilities.
"The company is planning to set up a new manufacturing facility in India entailing a capital expenditure of about Rs.150 crore in the next financial year. Besides, the company will be undertaking another Rs. 100 crore capital expenditure this year at the company's existing facilities," said Sunil Duggal, CEO, Dabur India.
Though Duggal refused to divulge details of the new facility, company sources said it would be set up in one of the hill states to avail of tax incentives.
Due to inflationary pressures, Dabur is expected to raise prices of its consumer and healthcare products by 7-9 percent. However, there would be no rise in the company's food products, Duggal said.
However, Duggal could not confirm whether the company would increase the prices of its newly launched skincare products.
In a separate development, Dabur India also said it would be making a major push in the home care division and also expand H&B Stores, which operates a chain of beauty, health and wellness retail outlets under the name "Newu." H&B Stores is a wholly-owned subsidiary of Dabur India.
During the June quarter, Dabur India reported a 25 percent rise in net profit on the back of strong sales in consumer care and healthcare divisions.
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