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Consol. sales to grow in mid-single digits, operating profit to grow ahead of revenue

DABUR released its business update for 4QFY26. Here are the key highlights:

Demand trends

* During the quarter, Dabur witnessed steady momentum in the India business, underpinned by a stable macroeconomic environment. The strong domestic performance helped offset challenges in its key international markets, particularly the Middle East, where heightened geopolitical tensions led to demand disruptions and supply chain constraints.

* India FMCG business witnessed sequential recovery in demand and is likely to record high-single-digit growth.

* In terms of channels, organized trade, including Modern trade, e-commerce and quick commerce maintained their growth momentum, alongside a steady recovery in general trade.

Segmental Performance

* Home & Personal Care: The business maintained its double-digit growth trajectory and is likely to grow in mid-teens. This growth is expected to be led by Hair Oils, Shampoo and Home Care, which are likely to record growth in 20s. Key brands that are expected to record healthy volume-led growth are Dabur Amla franchise, Vatika Shampoo, Dabur Almond, Odonil, Odomos, Meswak and Gulabari. Majority of the portfolio continued to outpace category growth and is expected to register market share gains in 4QFY26.

* Healthcare: In the Healthcare vertical, Dabur Honey, Honitus, Health Juices and Hajmola franchise are expected to report robust double-digit growth. Dabur Glucose was impacted by unseasonal rains in key markets in Mar’26. Overall, Healthcare business is expected to report low-single-digit growth.

* Foods & Beverages (F&B): The segment saw a sequential improvement and is expected to register low-single-digit growth in 4Q.

* Foods, Real Activ Juices and Coconut Water continued to clock 20%+ growth rates.

* Out of Home portfolio was impacted by unseasonal rains in key markets.

* Real brand continued to outpace category growth and gained market shares across Nectars, Juices and Coconut Water.

International business

* While the Middle East business was impacted by the US/Israel-Iran conflict, other key markets like Turkey, Bangladesh and UK performed well and continue to grow in double digits in constant currency terms. Dabur expects its international business to record low-single-digit growth in INR terms.

Consolidated performance and outlook

* Consolidated revenue is expected to grow in mid-single digits, with operating profit growing ahead of revenue.

* Dabur expects a progressive recovery in domestic demand, driven by improving consumption trends.

* The company remains watchful of the evolving geopolitical landscape and will continue to take proactive measures to mitigate any potential impact on its operations and cost structure.

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