Dabur India Ltd - Update for Quarter ended September 30, 2025 - Q2 FY26

This update provides an overall summary of the performance and demand trends witnessed during the quarter ended September 30, 2025 (Q2 FY26). This will be followed by detailed financial results and earnings presentation once the Board of Directors of the Company approves the consolidated and standalone financial results for the quarter ended September 30, 2025.

The Government's recent GST reform represents a landmark step towards driving affordability & enhancing purchasing power which will boost consumption across categories and strengthen demand in both urban and rural markets. Dabur's key categories like Oral care, Juices, Hair oils, Shampoo, Digestives, OTC, Branded Ethicals and Culinary which represents approximately 60% of our India business will benefit from 12%/18% GST rate cut to 5%. Now ~85% of our portfolio is at a GST rate of 5% which is a key positive.

We at Dabur, are committed to pass on the benefit of reduced GST rates to our consumers.

Following the GST Council's September 2025 announcement on GST rate reduction, trade witnessed temporary disruption as consumers deferred purchase to benefit from lower MRPs. Distributors and retailers also focused on liquidating the existing higher-priced inventory. This resulted in a short-term moderation in sales during the month of September and, consequently, in Q2FY26. Despite these headwinds, our non-GST impacted brands like Dabur Honey, Anmol Coconut Oil, Gulabari and Hajmola Zeera have performed well. Retail offtakes continued to be resilient, enabling us to sustain market share gains in 90%+ of our portfolio.

In Home & Personal care, Oral care portfolio continued its strong growth trajectory and is likely to deliver doubledigit growth in both Red Toothpaste and Meswak. This was on the back of strong on ground execution and focused marketing initiatives. Skin care portfolio is expected to grow in high-single digits led by Gulabari and Oxy franchise. In our Hair care portfolio, we expect Shampoos to register high-single digit growth led by Vatika while Hair Oils is expected to report mid-single digit growth. Within Home care, Odonil franchise performed well.

In Healthcare, key brands such as Dabur Honey, Honitus, Hajmola franchise and Health Juices are likely to register double-digit growth underpinned by strong volumes.

Within F&B, Culinary business is expected to record double-digit growth with strong performance in Oils & Fats. In Beverages, our strategy of focusing on the premium 'Activ' range is yielding positive results. This quarter the Activ portfolio is expected to report robust growth of 30%+ led by both Activ juices and Coconut water. However, given the higher-than-expected rainfall and floods in July and August, our overall Beverage portfolio was impacted.

In terms of channels, E-commerce (including Quick commerce) is expected to grow in double digits and Modern Trade maintained its growth momentum.

In International business, key geographies like MENA, Turkey, Namaste and Bangladesh are expected to perform well. However, our Nepal business was adversely impacted due to political unrest. Consequently, we expect our overall international business to post mid-single digit growth in INR and CC terms.

This quarter we expect consolidated revenue to grow in the mid-single digits and operating profit to grow almost in line with revenue.

With supportive macroeconomic conditions and the recently announced GST rate cuts, consumption is expected to strengthen, and we anticipate revenue growth to regain momentum in the coming quarters.

Shares of Dabur India Limited was last trading in BSE at Rs. 480.30 as compared to the previous close of Rs. 492.30. The total number of shares traded during the day was 129299 in over 4215 trades.

The stock hit an intraday high of Rs. 492.45 and intraday low of 479.00. The net turnover during the day was Rs. 62530712.00.

Source : Equity Bulls

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DaburIndia INE016A01026 BusinessUpdate Q2FY26 Q2FY2026