Dabur India (DABUR) Q3 25/26 earnings summary

Executive summary

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

• Operating profit and PAT rose 7.7% and 10.1% year-over-year, with adjusted PAT (excluding a one-time labor law provision) up 7.2%.

• Market share gains achieved across key categories, with strong double-digit growth in Amla franchise, Real Activ, Dabur Honey, Dabur Honitus, Dabur Health Juices, and Dabur 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), EBITDA rose to ₹874.8 crore (24.6% margin), and net profit before exceptional items was ₹575.0 crore, up 10.1% year-over-year.

• 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.

• Consumer care business contributed ₹3,064.46 crores in Q3 FY26 segment revenue, food business ₹418.20 crores, and retail business ₹28.53 crores.

Outlook and guidance

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

• FY27 growth to be volume-led, targeting high single-digit to low double-digit revenue growth and operating margin improvement.

• Continued focus on market share gains, innovation, premiumization, and brand building.