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Dabur India (DABUR) investor relations material
Dabur India Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated revenue grew 5.4% year-over-year, with India FMCG up 5.7% and international business up 7.7% in INR terms; 95% of the portfolio gained market share in Q2 FY26, with rural and premium products outpacing core offerings.
GST reform led to 86% of the portfolio at 5% GST, with 56%-66% benefiting from rate reduction, causing short-term trade disruption but expected to boost long-term demand and consumption.
Operational agility enabled timely price reductions and effective benefit transmission to consumers, with benefits passed on to consumers.
Heavy rainfall and floods impacted beverage consumption, but operating margins expanded despite inflation and input cost escalation.
Board approved unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2025, and declared an interim dividend of ₹2.75 per share for FY 2025-26.
Financial highlights
Consolidated revenue for Q2 FY26 was ₹3,191.32 crore, up from ₹3,028.59 crore in Q2 FY25; H1 FY26 revenue was ₹6,595.90 crore, up from ₹6,377.70 crore in H1 FY25.
Operating profit increased 6.4% and PAT rose 6.5% year-over-year, with a 20 bps margin expansion; net profit for Q2 FY26 was ₹444.79 crore, up from ₹417.52 crore in Q2 FY25.
Gross margin improved by 20 basis points year-over-year; operating margin for H1 at approximately 19%.
Dividend per share declared at INR 2.75 (275%), totaling INR 487.8 crore as interim dividend.
Final dividend of ₹5.25 per share for FY25 (₹931.19 crore) paid during the quarter.
Outlook and guidance
Guidance for mid- to high-single-digit revenue growth in H2, backed by low- to mid-single-digit volume growth.
Optimism for sequential demand recovery, supported by favorable macros, GST rate cuts, and a strong winter season.
GST reforms and rate reductions are expected to drive future consumption, especially in juices and other key categories.
Interim dividend of ₹2.75 per share (₹487.76 crore) declared for FY26, reflecting confidence in ongoing performance.
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