Dabur India (DABUR) Q4 24/25 earnings summary

Executive summary

• Consolidated revenue for FY2025 was INR 12,563 crore, with PAT of INR 1,768 crore, reflecting modest growth impacted by inventory adjustments and challenging consumption trends.

• International business delivered strong constant currency growth of 17.2% year-over-year, contributing 26% to overall sales, while India business declined 3.4% in Q4.

• Q4 FY2025 consolidated revenue grew 0.6% year-over-year, with operating profit declining 8.5%.

• Board approved audited financial and segment-wise results for FY2025, with an unmodified audit opinion.

• Market share gains were achieved across 90% of the portfolio, with emerging channels growing in double digits.

Financial highlights

• FY2025 profit after tax declined 4.1% year-over-year to INR 1,768 crore; EBITDA margin for FY2025 was 22.8%, down from 23.2% in FY24.

• Standalone revenue for FY2025 decreased 0.7% year-over-year; standalone net profit down 7.0%.

• Home and Personal Care skin care grew 8%, home care grew low single digits, and hair oils gained 196 bps market share.

• Foods & Beverages segment grew 18.4% YoY; premium beverage segment grew 11% and gained 261 bps market share.

• Health supplements were muted due to seasonality, but Chyawanprash and honey gained market share.

Outlook and guidance

• Targeting sustainable double-digit CAGR in both top and bottom line by FY2028, anchored on strategic pillars including core brand investment, premiumization, portfolio rationalization, and M&A.

• Guidance for FY2026 is high single-digit to near double-digit value growth, with sequential improvement expected as macro conditions improve.

• Continued focus on core business segments and international expansion, with a new UK subsidiary added post-March 2025.