Dabur India gains after incorporating step-down subsidiary in Iran

Dabur India rose 1.48% to Rs 302.65 at 10:55 IST on BSE after the company said that it incorporated a new step-down subsidiary, DABUR PARS, in Iran.

The announcement was made after market hours yesterday, 2 June 2016.

Meanwhile, the S&P BSE Sensex was up 66.39 points or 0.25% at 26,909.53.

On BSE, so far 39,084 shares were traded in the counter as against average daily volume of 81,322 shares in the past one quarter. The stock hit high of Rs 303.40 and low of Rs 298.25 so far during the day. The stock had hit a record high of Rs 316.50 on 6 August 2015. The stock had hit a 52-week low of Rs 231.30 on 27 January 2016. The stock had underperformed the market over the past one month till 2 June 2016, gaining 0.81% compared with Sensex's 5.53% gains. The scrip had, however, outperformed the market in past one quarter, rising 22.48% as against Sensex's 10.73% gains.

The large-cap company has equity capital of Rs 176.09 crore. Face value per share is Rs 1.

Dabur India said that its wholly owned subsidiaries-Dabur UK and Dabur International have incorporated a new subsidiary namely, DABUR PARS, a limited liability company in Iran. Dabur UK holds 99% while Dabur International holds 1% in the subsidiary. Thus, DABUR PARS has become a step down wholly owned subsidiary of Dabur India. DABUR PARS will manufacture cosmetic products including toothpaste, hair oils, hair shampoo and skin care products, purchase, sale, manufacture, packing, import and export of all authorised goods after obtaining necessary licences from competent authorities.

Dabur India's consolidated net profit rose 16.6% to Rs 331.93 crore on 10.9% rise in net sales to Rs 2157.31 crore in Q4 March 2016 over Q4 March 2015.

Dabur India is one of the largest FMCG companies in India. The company operates in key consumer products categories like hair care, oral care, health care, skin care, home care & foods.

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