We are facing an unprecedented economic crisis: Dabur Chairman Mohit Burman

COVID-19 pandemic, supply chain disruptions and changing geo—political landscapes have resulted into unprecedented crises that the Indian economy is now facing, said Mohit Burman, the newly appointed Chairman of Dabur India. Burman, in his maiden AGM speech today said crises, emerging one after another in the past two and half years, have aggravated the business environment. 

Mohit Burman, who has taken charge as the non-executive chairman of the fast moving consumer goods major yesterday from his cousin Amit, highlighted on the need for close monitoring of fast changing landscape for businesses.

“These are truly unprecedented times with economies facing one crisis after another. The beginning of the 2021-22 fiscal saw the emergence of the second and most devastating wave of COVID-19 pandemic. As we slowly recovered from the aftermath of COVID, the world was hit by a consequential crisis of high inflation, which was further aggravated by the recent geopolitical events, including the Ukraine war,” said Burman.

According to him, Dabur India successfully managed to overcome the menace of inflation last year and posted highest topline growth in eight years. Two of its brands - Meswak and Réal Drinks - turned Rs 100 crore brands during 2021-22. The company now owns 14 brands with an individual turnover of over Rs 100 Crore. Two of its brands clock over Rs 500 crore yearly sales, while four brands have a yearly turnover above Rs 1,000 crore each.

“The recent months and quarters have seen a dramatic surge in inflation, which also began hurting consumer sentiments. We combated these challenges through a mix of cost control measures and pricing actions,” he said, adding that the management is “closely monitoring the emerging situation and will continue to make sustained efforts to drive demands for our brands by enhancing our rural footprint and ploughing investments behind our power brands”.

Mohit Burman, who has been active in Burmans’ family office, is credited with its successful acquisition of Eveready Industries - the Kolkata-based battery maker - earlier this year.