A Project Report On PROFIT TREND ANALYSIS OF DABUR FOR YEAR 2005 TO 2010.

Submitted towards the partial fulfillment of 2nd Semester M.B.A. (Finance) Degree course, for the subject FINANCIAL MANAGEMENT

Submitted by: Hemant Dave M.B.A. (Finance) 2nd Semester Roll no. 321

Submitted to: Dr. Ritu Parana Das Associate Professor Faculty of Management

NAT IONAL L AW UNIVE RS IT Y, JODHP UR

Page

2011

INDEX

PAGE HEADINGS CHAPTERS EXECUTIVE SUMMARY OBJECTIVES RESEARCH METHODOLOGY CHAPTER-1 CHAPTER-2 CHAPTER-3 CHAPTER-4 A. B. INTRODUCTION: PROFIT TREND ANALYSIS INTRODUCTION: DABUR INDIA LIMITED DATA TABULATION ANALYSIS ANNEXURE BIBLIOGRAPHY. NUMBER 3 3 3 4 5 9 14 15 22

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Executive Summary

Profit is a outcome as a margin of total revenue generated and total expenditure occurred in any financial year. Company may incur loss along with the profit in successive financial years. Share price and market value of company depends upon the success rate of that company in the market or its positive profit trend. Profit trend predicts about the future possibilities of the asset rates or profit, accounting the sales of the company. It helps investor to invest at right time.

Statement of Objectives:
1. To identify and analyze the Profit trends of Dabur India Ltd.

Research Methodology:
My research methodology will be doctrinal as well as non-doctrinal in nature. The project report will consist of primary and secondary source of data. The primary data are gathered by the questionnaire amongst the management and employees of the organization. The secondary sources of data include articles, books, and both published and unpublished material including those which are collected via internet. Information would be collected and data would be tabulated, analysis and recommendation will be made.

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Chapter 1

PROFIT TREND ANALYSIS

Trend Analysis

An aspect of technical analysis that tries to predict the future movement of a stock based on past data. Trend analysis is based on the idea that what has happened in the past gives traders an idea of what will happen in the future. There are three main types of trends: short-, intermediate- and long-term. Trend Analysis1 Trend analysis tries to predict a trend like a bull market run and ride that trend until data suggests a trend reversal (e.g. bull to bear market). Trend analysis is helpful because moving with trends, and not against them, will lead to profit for an investor.

Financial Statement Trend Analysis

Financial statement trend analysis is a business practice that helps a company's senior leadership gauge fluctuations in corporate operating data. It also indicates changes in the firm's financial position as well as variations in operating, investing and financing cash flows. A corporate accountant can perform financial statement trend analysis on a random basis or at a given point in time.

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1 http://www.investopedia.com/ 2 http://www.ehow.com/about_6688016_financial-statement-trend-analysis.html

Chapter 2 DAB R DIA IMITED: A INTR DUCTION3

Dedi ted to Health and Well Being of every Household

Dabur India Li it d i t

fourt largest FMC

Company in India wit Revenues of

US$750 Million (Rs 3416 Crore) & Market Capitalisation of US$3.5 Billion (over Rs 16,000 Crore). Building on a legacy of quality and experience of over 125 years, Dabur operates in key consumer products categories like Hair Care, Oral Care, Healt Care, Skin Care, Home Care and Foods.

Dabur At-a-Glance
 

Leading consumer goods company in India 3 major strategic business units (SBU) - Consumer Care Di ision (CCD), Consumer Health Di ision (CHD) and International Business Di ision (IBD)

3 Subsidiary Group companies - Dabur International, Fem Care Pharma and newu and 8 step down subsidiaries: Dabur Nepal Pvt Ltd (Nepal), Dabur E pt Ltd (Egypt), Asian Consumer Care

(Bangladesh), Asian Consumer Care (Pakistan), African Consumer Care (Nigeria), Naturelle LLC (Ras Al Khaimah-UAE), Weikfield International (UAE) and aquline Inc. (USA).
 

17 ultra-modern manufacturing units spread around the globe Products marketed in over 60 countries

5
P

http://www.dabur.com/Default.aspx

Wide and deep market penetration with 50 C&F agents, more than 5000 distributors and over2.8 million retail outlets all over India

Master brands:
    

Dabur - Ayurvedic healthcare products Vatika - Premium hair care Hajmola - Tasty digestives Ral - Fruit juices & beverages Fem - Fairness bleaches & skin care products

Consumer Health Division (CHD) offers a range of classical Ayurvedic medicines and Ayurvedic OTC products that deliver the age-old benefits of Ayurveda in modern ready -touse formats International Business Division (IBD) caters to the health and personal care needs of customers across different international markets, spanning the Middle East, North & West Africa, EU and the US with its brands Dabur & Vatika

Milestones
Dabur India Ltd. made its beginnings with a small pharmacy, but has continued to learn and grow to a commanding status in the industry. The Company has come a long wayin popularising and making easily available a whole range of products based on the traditional science of Ayurveda. And Dabur has set very high standards in developing products and processes that meet stringent quality norms. As it grows even further, Dabur will continue to mark up on major milestones along the way, setting the road for others to follow... 1884 - Established by Dr. S K Burman at Kolkata 1896 - First production unit established at Garhia 1919 - First R&D unit established

Early 1900s - Production of Ayurvedic medicines Dabur identifies nature-based Ayurvedic medicines as its area of specialisation. It is the first Company to provide health care through scientifically tested and automated production of formulations based on our traditional science. 1930 - Automation and upgradation of Ayurvedic products manufacturing initiated

1936 - Dabur (Dr. S K Burman) Pvt. Ltd. Incorporated 1940 - Personal care through Ayurveda 1949 - Launched Dabur Chyawanprash in tin pack 1957 - Computerisation of operations initiated 1970 - Entered Oral Care & Digestives segment 1972 - Shifted base to Delhi from Calcutta 1978 Launched Hajmola tablet 1979 - Dabur Research Foundation set up 1979 - Commercial production starts at Sahibabad, the most modern herbal medicines plant at that time 1988 - Launched pharmaceutical medicines 1994 - Comes out with first public issue 1994 Entered oncology segment 1994 - Leadership in health care 1996 - Enterd foods business with the launch of Real Fruit Juice Maintaining global standards first Ayurvedic products company to get ISO 9002 certification.

List

pe ple in b ard

direct rs
Dr. Anand Burman

Chairman:

Vice Chairman: Whole Time Directors

Mr. Amit Burman Mr. P.D. Narang, Mr. Sunil Duggal and Mr. Pradip Burman

Independent Directors

Mr. Bert Paterson, Mr. P. N. Vijay, Mr. R C Bhargava, Dr. S. Narayan and Mr. Analjit Singh

Non Whole Time Promoters, directors

Mr. Mohit Burman

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Chapter 3

Data Tabulation
In order to fulfill the objectives of this research and to gather empirical evidences to derive the desired results, the study was carried on Dabur India Limited.

ANALYSIS OF PROFIT & LOSS ACCOUNT

3.1 TREND ANALYSIS OF PROFIT & LOSS ACCOUNT

Profit and Loss Account also called the 'Income Statement'. A financial statement summarizes the result of the operations of an enterprise for a given time by disclosing the revenues earned and the expenses incurred. By measuring the net profit earned by a business, it indicates the degree of operating success of a business in a period.

Trend analysis of profit & loss account involves the calculation of percentage change in profit & loss accounts items for a number of successive years. It measures any change in expenses as well as incomes for several years in compensation with the base year. So, it gives information in which items the company has blocked its money as compared to base year so that corrective steps can be taken. Here, we have taken 2006-07 as base year.

TREND ANALYSIS OF PROFIT & LOSS ACCOUNT 3.2 INTERPRETATION OF PROFIT & LOSS ACCOUNT WITH THE HELP OF CHART

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9
3.2.1. NET INCOME:

3.2.1. TABLE

3.2.1. CHART

NET YEAR 2006 2007 2008 2009 2010 INCOME

3,500.00

NET INCOME
3,000.00
2,500.00

1,346.55 1,748.28 2,103.39 2,419.05 2,882.27

2,000.00
1,500.00

NET SALES

1,000.00
500.00

0.00 2006 2007 2008 2009 2010

INTERPRATATION:
The chart of sales shows increasing trend throughout the five years. So, it shows that the business of the company is expanding.

3.2.2. NET SALES: 3.2.2. TABLE 3.2.2. CHART

NET YEAR 2006 2007 2008 2009 2010 SALES

3,500.00
3,000.00 2,500.00

NET SALES

1,345.50 1,745.14 2,093.63 2,408.33 2,867.42

2,000.00 1,500.00
1,000.00 500.00

NET SALES

0.00

2006

2007

2008

2009

2010

INTERPRATATION:
The chart of sales shows increasing trend throughout the five years. So, it shows that the demand of the companys products increase day by day.

3.2.3. TOTAL EXPENDITURE: 3.2.3. TABLE 3.2.3. CHART

TOTAL EXPENDITURE
TOTAL YEAR 2006 2007 2008 2009 2010 EARNINGS
2,500.00
2,000.00 1,500.00

1,104.55 1,440.48

1,000.00

NET SALES

1,704.03
500.00

1,966.81
0.00

2,317.49

2006

2007

2008

2009

2010

INTERPRETATION:
The chart of Other Income shows increasing trend throughout the five years. So, we can say that company is incurring profit and so is in good market position.

3.2.4. TOTAL PROFIT/EARNINGS:

3.2.4. TABLE

3.2.4. CHART

NET EARNINGS
TOTAL YEAR 2006 2007 2008 2009 2010 EARNINGS
450 400

187.19 242.76 308.61 354.97 420.23

350 300
250 200 150 NET SALES

100 50
0 2006 2007 2008 2009 2010

INTERPRETATION:
The chart of Other Income shows increasing trend throughout the five years. So, we can say that company is incurring profit and so is in good market position.

Performance of Dabur on the NSE and BSE with relation to SENSE

250

25000

200

20000

150

15000 DABUR BSE

100

10000

SENSEX

50

0
01/03/2005 01/03/2006 01/03/2007 01/03/2008 01/03/2009

250

25000

200

20000

150

15000 DABUR NSE

100

10000

50

5000

01/03/2005

01/03/2006

01/03/2007

01/03/2008

01/03/2009

000

SENSEX

C apter 4
Data Analysis
Data analysis from Consumers responses to questionnaire to fulfill the objectives: The Indian FMCG sector is the fourth largest sector in the economy with a total market size in excess of US$ 13.1 billion. It has a strong MNC presence and is characterized by a well established distribution network, intense competition between the organized and unorganized segments and low operational cost. Availability of key raw materials, cheaper labor costs and presence across the entire value chain gives India a competitive advantage. There is a huge growth opportunities for companies like Dabur, HUL. Indian rural markets present huge opportunities. The rising rural and semi-urban income levels coupled with massive advertisement of FMCG products in the electronic media will spread so much of awakening in the rural and semi-urban folks towards fast moving consumer goods products so much that these will enlarge their affordability for them. However, apart from all the opportunities there are various risk involved in the sector. Dabur must foresee all the risks and plan its operations accordingly. The rural and semi-urban demand of FMCG products will grow larger and higher, it will put a severe pressure on the margins of manufacturers of FMCG products because of cut-throat competition. One of the risks faced by companies in FMCG is continued economic slowdown and worsening of macroeconomic indicators which can impact the spending power of consumers and put pressure on their incomes and consumption. A poor monsoon if it happens can impact rural incomes and dampen rural consumption and spends. Increase of imitation/fake product can hamper Daburs growth. Any unexpected change in regulatory framework which may impact parts of the business of Dabur is also one of the risks faced by the company.

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14

y Annexure

Mar'10 12 Months INCOME: Sales Turnover Excise Duty NET SALES Other Income TOTAL INCOME EXPENDITURE: Manufacturing Expenses Material Consumed Personal Expenses Selling Expenses Administrative Expenses Expenses Capitalised Provisions Made TOTAL EXPENDITURE Operating Profit EBITDA Depreciation 58.17 1,384.29 212.34 474.79 187.90 0.00 0.00 2,317.49 549.93 564.78 31.91 2,891.00 23.58 2,867.42 0.00 2,882.27

Mar'09 12 Months

Mar'08 12 Months

Mar'07 12 Months

2,435.85 27.52 2,408.33 0.00 2,419.05

2,128.02 34.39 2,093.63 0.00 2,103.39

1,782.08 36.93 1,745.14 0.00 1,748.28

54.22 1,232.85 167.32 358.75 153.67 0.00 0.00 1,966.81 441.52 452.24 27.42

54.02 1,023.94 149.69 337.69 138.69 0.00 0.00 1,704.03 389.60 399.36 25.75

39.24 778.27 118.66 403.42 100.90 0.00 0.00 1,440.48 304.66 307.80 21.98

Page

4 Rediffmoney.com & economic times.com

Pr it & L ss - Dabur India Ltd.

(Rs. In Cr re) Mar'06 12 Months

1,372.39 26.89 1,345.50 0.00 1,346.55

27.10 582.43 98.31 316.46 80.24 0.00 0.00 1,104.55 240.95 242.01 19.05

Other Write-offs EBIT Interest EBT Taxes Profit and Loss for the Year Non Recurring Items Other Non Cash Adjustments Other Adjustments REPORTED PAT KEY ITEMS Preference Dividend Equity Dividend Equity Dividend (%) Shares in Issue (Lakhs) EPS - Annualised (Rs)

5.66 527.21 13.28 513.93 93.70 420.23 13.10 -0.1 0.19 433.33

3.94 420.88 14.47 406.41 51.44 354.97 18.58 -0.7 0.72 373.55

5.67 367.94 10.92 357.01 48.40 308.61 8.16 -0.8 0.86 316.77

6.49 279.33 4.43 274.90 32.15 242.76 9.32 -0.1 0.13 252.08

4.26 218.70 5.73 212.97 25.78 187.19 1.90 0.21 -0.2 189.08

0.00 173.60 200.09 8,675.86 4.99

0.00 151.39 175.00 8,650.76 4.32

0.00 129.60 149.99 8,640.23 3.67

0.00 122.13 141.53 8,628.84 2.92

0.00 100.32 174.99 5,733.03 3.30

Balance sheet 5

(Rs. In crore)

Mar ' 10 Sources of funds Owner's fund Equity share capital Share application money Preference share capital Reserves & surplus Loan funds
Page

Mar ' 09

Mar ' 08

Mar ' 07

Mar ' 06

86.76 0.14 662.48

86.51 651.69

86.40 441.92

86.29 316.90

57.33 390.54

1
5 ibid

Mar ' 10 Secured loans Unsecured loans Total Uses of funds Fixed assets Gross block Less : revaluation reserve Less : accumulated depreciation Net block Capital work-in-progress Investments Net current assets Current assets, loans & advances Less : current liabilities & provisions Total net current assets Miscellaneous expenses not written Total Notes: Book value of unquoted investments Market value of quoted investments Contingent liabilities Number of equity shares outstanding (Lacs) 98.60 250.52 173.48 8675.86 941.77 911.83 29.94 2.74 855.45 687.23 236.28 450.95 23.31 348.51 24.27 81.80 855.45

Mar ' 09 8.26 130.72 877.17

Mar ' 08 16.45 0.24 545.01

Mar ' 07 19.28 0.26 422.73

Mar ' 06 19.23 1.25 468.35

518.77 210.45 308.32 51.71 232.05

467.93 189.77 278.17 16.26 270.37

404.30 168.97 235.33 3.71 145.35

328.23 142.46 185.77 13.07 275.08

973.42 696.97 276.45 8.64 877.17

576.82 610.57 -33.75 13.95 545.01

397.78 379.27 18.52 19.82 422.73

285.68 324.12 -38.44 32.87 468.35

319.12 118.48 174.15 8650.76

67.99 205.19 171.24 8640.23

65.99 80.82 153.25 8628.84

234.43 43.43 190.02 5733.03

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Cash flow

(Rs. In crore)

Mar ' 10 Profit before tax Net cash flow-operating activity Net cash used in investing activity Net cash used in fin. activity Net inc/dec in cash and equivalent Cash and equivalent begin of year Cash and equivalent end of year 527.03 481.49 -267.54 -201.88 12.07 151.84 163.91

Mar ' 09 425.00 323.57 -238.38 -9.77 75.42 68.26 143.68

Mar ' 08 365.18 313.29 -179.77 -119.30 14.22 54.04 68.26

Mar ' 07 284.22 234.43 -60.57 -168.06 5.79 44.45 50.25

Mar ' 06 214.36 194.34 -27.51 -139.45 27.39 10.65 38.04

Capital structure

(Rs. In crore)

From Year 2009 2008 2007 2006 2005

To Year 2010 2009 2008 2007 2006

Class Of Authorized Share Capital Equity Share Equity Share Equity Share Equity Share Equity Share 145.00 145.00 145.00 125.00 125.00

Issued Paid Up Paid Up Capital Shares (Nos) Face Value 86.76 86.51 86.40 86.29 57.33 867585830 865076249 864022973 862883808 573302784 1 1 1 1 1

Paid Up Capital 86.76 86.51 86.40 86.29 57.33

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18

Share holding 7

6 ibid

Share holding pattern as on : Face value No. Of Shares

31/12/2010 1.00 % Holding No. Of Shares

30/09/2010 1.00 % Holding

30/06/2010 1.00 No. Of Shares % Holding

Promoter's holding Indian Promoters Foreign Promoters Sub total 1196110850 522000 1196632850 68.71 0.03 68.74 1196110850 522000 1196632850 68.71 0.03 68.74 598055425 261000 598316425 68.84 0.03 68.87

Non promoter's holding Institutional investors Banks Fin. Inst. and Insurance FII's Sub total 117556702 284579063 420618304 6.75 16.35 24.16 122567848 281731081 422952900 7.04 16.18 24.30 67834131 128616785 215399949 7.81 14.80 24.79

Other investors Private Corporate Bodies NRI's/OCB's/Foreign Others Others Sub total General public Grand total 12234127 8563243 944668 21742038 101730606 1740723798 0.70 0.49 0.05 1.25 5.84 100.00 12783932 8202884 1840159 22826975 98311073 1740723798 0.73 0.47 0.11 1.31 5.65 100.00 5386767 3980380 9367147 45661693 868745214 0.62 0.46 1.08 5.26 100.00

Prices

19
Page

7 ibid 8 Finance.yahoo.com

Dabur.NS Feb 11, 2010 Jan 4, 2010 Dec 1, 2009 Nov 3, 2009 Oct 30, 2009 Oct 1, 2009 Sep 1, 2009 Aug 3, 2009 Jul 1, 2009 Jun 29, 2009 Jun 1, 2009 May 4, 2009 Apr 1, 2009 Mar 2, 2009 Feb 2, 2009 Feb 2, 2009 Jan 1, 2009 Dec 1, 2008 Nov 3, 2008 Oct 1, 2008 Sep 1, 2008 Aug 1, 2008 Jul 1, 2008 Jun 19, 2008 Jun 2, 2008 May 2, 2008 Apr 1, 2008 Mar 3, 2008 Feb 1, 2008 Jan 1, 2008

Close 169.30 158.75 158.50 158.35 0.75 Dividend 152.40 141.00 125.00 138.00 1.00 Dividend 127.50 110.55 103.00 100.00 90.50 0.75 Dividend 75.00 84.00 82.00 78.30 90.60 91.20 90.60 0.75 Dividend 79.90 97.10 105.75 111.00 100.20 93.00 114.15 110.50

Dabur.BO
Feb 1, 2010 Jan 4, 2010 Dec 1, 2009 Nov 3, 2009 Oct 30, 2009 Oct 1, 2009 Sep 1, 2009 Aug 3, 2009 Jul 1, 2009 Jun 29, 2009 Jun 1, 2009 May 4, 2009 Apr 1, 2009 Mar 2, 2009 Feb 2, 2009 Feb 2, 2009 Jan 1, 2009 Dec 1, 2008 Nov 3, 2008 Oct 1, 2008 Sep 1, 2008 Aug 1, 2008 Jul 1, 2008 Jun 19, 2008 Jun 2, 2008 May 2, 2008 Apr 1, 2008 Mar 3, 2008 Feb 1, 2008 Jan 1, 2008 Dec 3, 2007 Nov 1, 2007

Close 168.70 159.85 158.95 158.20 0.75 Dividend 151.85 142.30 124.85 137.90 1.00 Dividend 126.05 110.35 103.55 98.70 90.95 0.75 Dividend 88.00 84.00 81.85 80.35 90.50 91.20 90.40 0.75 Dividend 78.65 96.50 106.30 109.90 99.65 94.95 114.20 110.50

SENSEX
Feb 1, 2010 Jan 4, 2010 Dec 1, 2009 Nov 3, 2009 Oct 1, 2009 Sep 1, 2009 Aug 3, 2009 Jul 1, 2009 Jun 1, 2009 May 4, 2009 Apr 1, 2009 Mar 2, 2009 Feb 2, 2009 Jan 2, 2009 Dec 1, 2008 Nov 3, 2008 Oct 1, 2008 Sep 1, 2008 Aug 1, 2008 Jul 1, 2008 Jun 2, 2008 May 2, 2008 Apr 1, 2008 Mar 3, 2008 Feb 1, 2008 Jan 2, 2008 Dec 3, 2007 Nov 1, 2007 Oct 1, 2007 Sep 3, 2007 Aug 1, 2007 Jul 2, 2007

Close 16,429.55 16,357.96 17,464.81 16,926.22 15,896.28 17,126.84 15,666.64 15,670.31 14,493.84 14,625.25 11,403.25 9,708.50 8,891.61 9,424.24 9,647.31 9,092.72 9,788.06 12,860.43 14,564.53 14,355.75 13,461.60 16,415.57 17,287.31 15,644.44 17,578.72 17,648.71 20,286.99 19,363.19 19,837.99 17,291.10 15,318.60 15,550.99

Page

Dec 3, 2007 Nov 1, 2007

Oct 29, 2007 Oct 1, 2007 Sep 3, 2007 Aug 1, 2007 Jul 2, 2007 Jun 4, 2007 May 3, 2007 Apr 2, 2007 Mar 16, 2007 Mar 1, 2007 Feb 1, 2007 Jan 2, 2007 Dec 1, 2006 Nov 3, 2006 Nov 1, 2006 Oct 3, 2006 Sep 1, 2006 Aug 1, 2006 Jul 3, 2006 Jun 21, 2006 Jun 1, 2006 May 1, 2006 Apr 3, 2006 Mar 1, 2006 Feb 1, 2006 Jan 2, 2006 Dec 1, 2005 Nov 1, 2005 Oct 28, 2005 Oct 3, 2005 Sep 1, 2005

0.75 Dividend 106.35 105.70 100.80 104.65 102.85 99.90 95.20 0.75 Dividend 95.00 97.70 98.90 146.90 1.00 Dividend 148.15 152.85 136.80 136.45 131.85 1.00 Dividend 142.30 143.15 139.25 124.00 110.40 118.25 210.90 173.70 1.50 Dividend 167.15 163.20 153.50 145.40

Oct 29, 2007 Oct 1, 2007 Sep 3, 2007 Aug 1, 2007 Jul 2, 2007 Jun 4, 2007 May 3, 2007 Apr 2, 2007 Mar 16, 2007 Mar 1, 2007 Feb 1, 2007 Jan 2, 2007 Dec 1, 2006 Nov 3, 2006 Nov 1, 2006 Oct 3, 2006 Sep 1, 2006 Aug 1, 2006 Jul 3, 2006 Jun 21, 2006 Jun 1, 2006 May 1, 2006 Apr 3, 2006 Mar 1, 2006 Feb 1, 2006 Jan 2, 2006 Dec 1, 2005 Nov 1, 2005 Oct 28, 2005 Oct 3, 2005 Sep 1, 2005 Aug 1, 2005 Jul 1, 2005

0.75 Dividend 106.90 105.80 100.85 104.70 102.85 99.45 95.30 0.75 Dividend 94.95 97.85 99.25 146.90 1.00 Dividend 147.90 152.95 136.75 136.30 131.80 1.00 Dividend 142.45 135.10 156.10 123.95 110.35 118.35 210.50 173.25 1.50 Dividend 166.70 163.35 152.95 145.95

Jun 1, 2007 May 3, 2007 Apr 2, 2007 Mar 1, 2007 Feb 1, 2007 Jan 2, 2007 Dec 1, 2006 Nov 1, 2006 Oct 3, 2006 Sep 1, 2006 Aug 1, 2006 Jul 3, 2006 Jun 1, 2006 May 2, 2006 Apr 3, 2006 Mar 1, 2006 Feb 1, 2006 Jan 2, 2006 Dec 1, 2005 Nov 1, 2005 Oct 3, 2005 Sep 1, 2005 Aug 1, 2005 Jul 1, 2005 Jun 1, 2005 May 2, 2005 Apr 1, 2005 Mar 1, 2005 Feb 1, 2010 Jan 4, 2010 Dec 1, 2009 Nov 3, 2009 Oct 1, 2009

14,650.51 14,544.46 13,872.37 13,072.10 12,938.09 14,090.92 13,786.91 13,696.31 12,961.90 12,454.42 11,699.05 10,743.88 10,609.25 10,398.61 11,851.93 11,279.96 10,370.24 9,919.89 9,397.93 8,788.81 7,892.32 8,634.48 7,805.43 7,635.42 7,193.85 6,715.11 6,154.44 6,492.82

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Aug 1, 2005 Jul 1, 2005

Jun 29, 2005 Jun 1, 2005 May 2, 2005 Apr 1, 2005 Mar 1, 2005

1.50 Dividend 131.35 128.65 116.25 111.05

Jun 29, 2005 Jun 1, 2005 May 2, 2005 Apr 1, 2005 Mar 1, 2005

1.50 Dividend 131.70 128.50 116.25 111.00

Sep 1, 2009 Aug 3, 2009 Jul 1, 2009 Jun 1, 2009 May 4, 2009

y Bibliography:
1. Pandey I. M., Financial management, Tata McGraw Hill, 2005 2. Khan M. Y. & Jain P.K, Financial Management text problem and cases, Tata McGraw Hill, 2004 3. Prasanna Chandra, Fundamental of Financial Management, Tata McGraw Hill, 2005

Websites visited:

1. 2. 3. 4. 5. 6.

http://www.google.co.in. www.moneycontrol.com www.finance.yahoo.com www.books.google.com http://www.dabur.com/Default.aspx http://www.dabur.com/Investors%20Relation-Reports

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