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On Wednesday, FMCG giant Dabur India announced that Krishan Kumar Chutani will continue to serve as CEO of the firm until 13 January, 2023 rather than the previously announced 28 February, 2023.
The announcement was made by the corporation that Raghav Agrawal will now serve as CEO in place of Krishan Kumar Chutani.
“Krishan Kumar Chutani – CEO of Dabur International Limited shall continue in the Company till the close of business hours on 13th January, 2023 instead of 28th February, 2023 as informed earlier. Mr. Raghav Agrawal has taken over from Mr. Krishan Kumar Chutani as CEO of Dabur International Limited,” said Dabur India in its regulatory filing.
Krishan Kumar Chutani stepped down from his position as chief executive officer of Dabur International Ltd. in December, and the business notified and announced his departure. It has been decided that Raghav Agrawal would succeed Chutani as CEO of the company.
Dabur India Ltd stated on its December consolidated quarterly revenue that the company anticipates reporting low to mid-single digit revenue growth. This is due to the fact that rural demand has continued to stay under pressure. Despite this, the business noticed a rise in customer demand around the end of the third quarter.
“Demand trends for the industry remained weak during Q3 FY23 with rural markets continuing to remain under pressure. This was further accentuated by late onset of winter in north India. However, early signs of moderate recovery were visible towards latter part of the quarter coupled with some abatement in inflation,” said Dabur in its regulatory filing.
The consolidated net profit for the second quarter that ended on September 30 for Dabur India Ltd. decreased by 2.85% year-over-year to reach ₹490.86 crore, down from the ₹505.31 Cr that was recorded for the same period in Q2FY22.
At the BSE on Friday, the company’s stock was trading at ₹548.15, which was a decrease of 1.14 percent.