Dabur India (DABUR) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 consolidated revenue grew 6.1% year-over-year, with India FMCG up 6% and international revenue up 11.1% in INR terms.

• Operating profit rose 7.7% and PAT increased 10.1% year-over-year; adjusted PAT growth was 7.2% excluding a one-time labor law provision.

• Market share gains across key categories, with strong double-digit growth in Amla, Real Activ, Dabur Honey, Dabur Honitus, health juices, and Meswak.

• Interim dividend of ₹2.75 per share (₹487.76 crores) was paid during the quarter.

• Faced headwinds from input cost escalation, inventory liquidation due to revised GST, and international market disruptions.

Financial highlights

• Consolidated revenue from operations for Q3 FY26 was ₹3,558.65 crores, up from ₹3,355.25 crores in Q3 FY25.

• Operating profit increased to ₹734.1 crore (20.6% margin), and EBITDA rose to ₹874.8 crore (24.6% margin).

• Net profit before exceptional items was ₹575.0 crore, up 10.1% year-over-year; consolidated net profit after exceptional items was ₹553.61 crores.

• Standalone revenue for Q3 FY26 was ₹2,547.39 crores, with net profit at ₹439.40 crores.

• Basic EPS (consolidated) for Q3 FY26 was ₹3.16, up from ₹2.95 in Q3 FY25.

Outlook and guidance

• Management expects sequential demand recovery, high single-digit top-line growth in Q4, and year-over-year EBITDA margin expansion.

• FY27 growth is expected to be high single-digit, primarily volume-led, with some price increases and operating margin improvement.

• Focus remains on market share gains, innovation, premiumization, and brand building.

• Board and management highlighted continued growth in both revenue and profit, with positive operating and net profit margins.