FMCG
NEW DELHI: FMCG major Dabur India today said it will invest about Rs 100 crore over the next two years to set up plants in Africa where it has been on an expansion mode.
The investments will mainly go into the setting up of plants in countries, including Morocco and Southern and Eastern Africa, according to a company official.
These plants will augment Dabur’s existing factories in Nigeria and Egypt, the official said.
“The idea to set up new plants in Africa is to locally manufacture the products of ‘Namaste’, which are very relevant to the African market,” the official said.
Dabur had acquired 100 per cent stake in Namaste Laboratories LLC for USD 100 million, in an all-cash deal on January 1, 2011.
During the quarter ended December 31, 2011, Dabur’s International Business grew by 37.8 per cent over the same period previous fiscal led by strong performance in Gulf Cooperation Council (GCC) countries, Egypt and Nigeria.
“The Nigeria business reported a 33 per cent growth, while sales in GCC markets grew by 27 per cent during the quarter. Egypt too reported a 25 per cent growth. Shampoos, Hair Creams and Toothpastes were the key growth drivers in the international markets. We will continue to pursue an aggressive growth strategy,” Dabur India Ltd Group Director P D Narang said.
During the third quarter, the company posted net sales of Rs 1,452.68 crore and net profit of Rs 172.82 crore.
