India · Delayed Price · Currency is INR Dabur India Earnings Call Transcripts
Fiscal Year 2026
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Q4 saw 7.3% revenue growth year-over-year, led by strong double-digit gains in haircare, home care, and premium beverages, while international growth was muted due to Middle East disruptions. Margin expansion is targeted for FY27 through pricing and cost initiatives.
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Q3 saw 6.1% revenue growth and double-digit PAT increase, driven by strong hair oil, oral care, and premium beverage performance. Margin expansion was supported by cost savings and premiumization, with volume-led growth expected to continue as inflation eases.
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Revenue grew 5.4% year-over-year, with operating profit and PAT up over 6%. GST reforms caused short-term disruption but are expected to drive long-term demand. Premiumization, rural expansion, and digital-first investments are key growth drivers.
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Sequential improvement was seen in both domestic and international markets, with rural areas outperforming urban and international business delivering double-digit growth. Excluding the seasonal portfolio, consolidated sales grew 7%, and operating margins are expected to improve for the year.
Fiscal Year 2025
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FY2025 saw modest revenue growth amid urban slowdown and inflation, but market share gains were achieved across most categories. International business grew strongly, while India business faced headwinds. Strategic exits, premiumization, and M&A are set to drive future growth.
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Q3 FY25 saw modest revenue and profit growth amid challenging weather and urban slowdown, with rural markets and international business outperforming. Market share gains were recorded across key categories, and margin maintenance remains a focus despite rising inflation.
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Q2 FY25 saw a 5.5% revenue decline due to a one-time inventory correction, but underlying business metrics like market share and secondary sales remained strong. Rural growth outpaced urban, and normal growth is expected to resume in H2, with margin recovery anticipated.
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Revenue grew 9.8% in consumer currency and 7% in INR, with strong rural recovery and market share gains in 95% of the portfolio. Gross margin expanded 120 bps, operating profit rose 8.3%, and digital A&P spend exceeded 30%.