| Revenue growth | Consolidated revenue +11.6% YoY; second straight double-digit quarter. |
|---|---|
| Margins | India standalone margin dilution only 10bps despite HPC inflation. |
| Demand visibility | FMCG demand firm; management calls consumption challenging amid elevated inflation. |
| Management confidence | Balanced; candid on red M&A rating, but reiterated double-digit guidance. |
Growth
Consolidated revenue +11.6%; India FMCG +10.7% (volume 5.5%, price 5.2%). International +20%, healthcare +6.9%. Operating profit hit by inflation.
Outlook
Reiterates double-digit full-year growth. Targets 23% premium portfolio share within 18 months. Plans 150-200bps extra media spend.
Risks
Freight, supply-chain and HPC inflation pressure operating profit. M&A is red with no timeline. Healthcare growth is only +6.9%.
Last quarter's promises, checked
Delivered
- Guided sequential acceleration in revenue growth → consol 10.6% to 11.6% (= BEAT)
Partly delivered
- Guided double-digit FY27 consol revenue growth → latest qtr +11.6%, full year unproven (= PARTIAL)
Missed
- Guided margins better than last year and accretive to top line → India standalone margin diluted 10bps, operating profit hit by inflation (= MISS)
- Guided 1-2 sizable M&A deals in 3 yrs with INR500cr earmarked for Dabur Ventures → M&A rated red, no timeline (= MISS)
Earnings Call Transcript filed with BSE, NSE: DABUR. Summary written with AI assistance from the document.
Dabur India Ltd: key numbers
- Share price
- ₹380.35
- Market cap
- ₹67,472 Cr
- Revenue (annual)
- ₹13,193 Cr
- Net profit (annual)
- ₹1,895 Cr
- P/E (TTM)
- 33.3×Sector 40.9×
- Promoter holding
- 66.25%+0.01% QoQ
- FII holding
- 9.60%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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