Dabur India reports early signs of demand recovery during Q3 FY26, aided by GST revisions. Rural demand outperforms urban areas. Home & Personal Care expects double-digit growth driven by Hair Oils and Oral Care. Healthcare anticipates sequential growth, supported by Honey and Health Juices. F&B’s Culinary business also expects double-digit growth. Overall, international business is expected to post near double digit growth. The company expects mid-single-digit revenue growth, with profit growing faster.
Demand Recovery and Performance Trends
Dabur India has released an update on its performance and demand trends for the quarter ended December 31, 2025 (Q3 FY26). The company witnessed early signs of demand recovery during the quarter, which was aided by GST rate revisions. Distributors and retailers focused on clearing existing higher-priced inventory in October 2025, after which consumer sentiment improved. Rural demand continued to outperform urban demand during this period.
Segment-Wise Expectations
The company anticipates the following segment-wise growth:
- Home & Personal Care: Expects double-digit growth, driven by strong performance in Hair Oils and Oral Care categories. Key brands like Dabur Amla and Dabur Red Toothpaste are expected to record healthy volume-led growth.
- Healthcare: Projects a sequential improvement in growth, supported by nearly 10% growth in Dabur Honey and over 15% YoY growth in Honitus and Health Juices.
- F&B: Culinary business is expected to record double-digit growth. Nectars & Drinks portfolio is expected to have muted performance due to adverse seasonality. The ‘Real Activ’ range is expected to report 30%+ growth in both 100% Activ juices and Coconut water.
Channel Performance
Organized trade is expected to maintain strong growth momentum, with E-commerce, including Quick commerce, growing at strong double-digit rates.
International Business
Key international geographies such as MENA, Turkey, Namaste, and Bangladesh performed well. Overall international business is expected to post near double-digit growth in INR terms.
Overall Expectations
Dabur anticipates consolidated revenue to grow in the mid-single digits, with operating profit and Profit after Tax growing ahead of revenue. Favorable macroeconomic conditions and recent tax reforms are expected to support sustained demand recovery and improve the revenue trajectory in coming quarters.
Source: BSE
