DABUR

Dabur India share price & financials

Price
₹423.5
Market cap
₹75.5k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 29 Jul 2026

Dabur India Q1 FY27

Consolidated Business Growth 10.6% India FMCG Revenue Growth 9.5% India FMCG Volume Growth 5% International Business Growth 15.5%

What went well

  • Consolidated business grew by 10.6% YoY, driven by broad-based growth.
  • India FMCG business revenue grew by 9.5%, backed by volume growth of 5%.
  • International business grew by 15.5% in INR terms despite geopolitical challenges.

What to watch

  • War-related disturbances in the Middle East impacted input cost trends and supply chain efficiency.
  • Elevated inflation across several input categories and continued cost pressures in international markets.
Read the full call →

What Dabur India does

Dabur India makes and sells branded consumer products across Home & Personal Care, Healthcare, and Food & Beverages, earning through wholesale/retail distribution of Ayurveda-based FMCG brands sold domestically and through an International Business spanning the Middle East, Africa, Europe, the US and other markets. Its portfolio spans hair care, oral care, home care and skin care, OTC/ethical health products, health supplements and digestives, and packaged foods and juices under the Real, Badshah and other labels. The company is also expanding its manufacturing footprint, including its first plant in South India (Tamil Nadu), and sources herbs through a network of contracted farmers for its Ayurvedic formulations.

Segments

  • Home & Personal Care (HPC)
  • Healthcare
  • Foods & Beverages (F&B)
  • International Business
Market position
One of the world's largest Ayurvedic and natural healthcare companies
Country reach
Products reach households in over 120 countries
Household penetration in India
8 out of every 10 Indian households use at least one Dabur product
Scaled brand portfolio
22 brands each generating over Rs.100 crore in annual revenue, including 3 brands over Rs.1,000 crore (Dabur Amla, Dabur Red Toothpaste, Real)
Operating heritage
Over 140 years of operating history
Manufacturing footprint expansion
First manufacturing facility in South India (Tamil Nadu) under development, to create 250 direct jobs
Headquarters New Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 12 tracked 2 delivered 1 missed 9 open
  • Strategic Review Timeline delivered said Q3 FY25 Promised: Plan to conclude the same by end of the fiscal year [FY25]. Q1 FY27: Historical achievement. No new updates.
  • Revenue Growth missed said Q1 FY26 Promised: We are gunning towards double-digit growth in the 2nd Quarter. Q1 FY27: Historical miss for Q2 FY26.
  • Revenue Growth revised up said Q4 FY26 Promised: We are seeing high single to a low double-digit growth because you've got some pricing coming in because of inflation. Q1 FY27: Guidance firmed up from 'high single to low double-digit' to a maintained 'double-digit growth' for the full year at the consolidated level. Q1 growth was 10.6%.

All 12 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 10.5%, net profit up 15.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue3,029 3,355 2,830 3,405 3,191 +5%3,559 +6%3,038 +7%3,764 +11%
EBITDA553 682 427 667 588 +6%734 +8%461 +8%741 +11%
Net profit418 516 313 508 445 +6%554 +7%362 +16%586 +15%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −31.3% 1Y

₹400₹450₹500₹550Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 30 Oct 2025Q3 FY26 — 29 Jan 2026Q4 FY26 — 7 May 2026Q1 FY27 — 29 Jul 2026

1Y: ₹547.5 on 10 Sept 2025 → ₹376. High ₹547.5 (10 Sept 2025), low ₹371.55 (9 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
+2.1%
29 Jul
Q4 FY26
+0.8%
7 May
Q3 FY26
−1.0%
29 Jan
Q2 FY26
−1.3%
30 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 4.6% a year over 3 years, FY23 to FY26. Operating margin held at 18.6%.

Year endingFY23FY24FY25FY26
Revenue₹11.5k Cr₹12.4k Cr₹12.6k Cr₹13.2k Cr
Operating profit₹2.2k Cr₹2.4k Cr₹2.3k Cr₹2.5k Cr
Operating margin18.8%19.3%18.4%18.6%
Interest₹78 Cr₹123 Cr₹163 Cr₹146 Cr
Depreciation₹311 Cr₹399 Cr₹446 Cr₹468 Cr
Net profit₹1.7k Cr₹1.8k Cr₹1.7k Cr₹1.9k Cr
Net margin14.8%14.6%13.9%14.2%
ROCE23.0%22.0%20.0%20.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹177 Cr₹177 Cr₹177 Cr₹177 Cr₹177 Cr₹177 Cr
Reserves₹7.5k Cr₹8.2k Cr₹8.8k Cr₹9.7k Cr₹10.8k Cr₹11.2k Cr
Borrowings₹509 Cr₹1.0k Cr₹1.2k Cr₹1.4k Cr₹1.3k Cr₹1.3k Cr
Other liabilities₹2.7k Cr₹2.9k Cr₹3.5k Cr₹3.9k Cr₹4.4k Cr₹4.8k Cr
Total liabilities₹10.8k Cr₹12.3k Cr₹13.7k Cr₹15.1k Cr₹16.7k Cr₹17.5k Cr
Fixed assets₹2.2k Cr₹2.3k Cr₹3.6k Cr₹3.8k Cr₹4.0k Cr₹3.9k Cr
Capital work in progress₹147 Cr₹168 Cr₹175 Cr₹232 Cr₹125 Cr₹139 Cr
Investments₹4.2k Cr₹6.2k Cr₹6.3k Cr₹6.9k Cr₹7.6k Cr₹8.9k Cr
Other assets₹4.3k Cr₹3.6k Cr₹3.6k Cr₹4.1k Cr₹5.0k Cr₹4.5k Cr
Total assets₹10.8k Cr₹12.3k Cr₹13.7k Cr₹15.1k Cr₹16.7k Cr₹17.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +2.44 pp while FIIs trimmed −2.19 pp. The shareholder count shrank 8% to 4,79,265.

Promoters
66.2%
FIIs
9.7%
DIIs
18.6%
Government
0.1%
Public
5.4%

Since Jun 2025

  • DIIs +2.44 pp
  • FIIs −2.19 pp
  • Public −0.32 pp

How it drifted, 12 quarters

Over this window DIIs went from 9.8% to 18.6% — +8.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 66.2%, FIIs 18.4%, DIIs 9.8%, Government 0.1%, Public 5.5%.Dec '23: Promoters 66.3%, FIIs 16.5%, DIIs 11.7%, Government 0.1%, Public 5.5%.Mar '24: Promoters 66.3%, FIIs 15.8%, DIIs 12.5%, Government 0.1%, Public 5.4%.Jun '24: Promoters 66.3%, FIIs 15.0%, DIIs 13.4%, Government 0.1%, Public 5.3%.Sep '24: Promoters 66.3%, FIIs 15.1%, DIIs 13.6%, Government 0.1%, Public 5.1%.Dec '24: Promoters 66.3%, FIIs 13.3%, DIIs 14.8%, Government 0.1%, Public 5.5%.Mar '25: Promoters 66.3%, FIIs 12.7%, DIIs 15.6%, Government 0.1%, Public 5.4%.Jun '25: Promoters 66.2%, FIIs 11.8%, DIIs 16.2%, Government 0.1%, Public 5.7%.Sep '25: Promoters 66.2%, FIIs 10.9%, DIIs 17.3%, Government 0.1%, Public 5.5%.Dec '25: Promoters 66.2%, FIIs 10.1%, DIIs 18.3%, Government 0.1%, Public 5.3%.Mar '26: Promoters 66.3%, FIIs 10.0%, DIIs 18.5%, Government 0.1%, Public 5.2%.Jun '26: Promoters 66.2%, FIIs 9.7%, DIIs 18.6%, Government 0.1%, Public 5.4%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Dabur India above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Vic Enterprises Private Limited 12.28%unchanged
Chowdry Associates 11.79%unchanged
Gyan Enterprises Pvt Ltd 10.90%unchanged
Puran Associates Private Limited 10.67%unchanged
Ratna Commercial Enterprises Private Limited 8.99%unchanged
Life Insurance Corporation Of India - Ulif00320091 Insurer8.57%unchanged
Milky Investment And Trading Company 5.98%unchanged
Burmans Finvest Private Limited 2.99%unchanged
HDFC Large And Mid Cap Fund Mutual fund2.98%newly disclosed
SBI Contra Fund Mutual fund1.70%newly disclosed
M B Finmart Private Limited 1.49%unchanged
NPS Trust- A/C LIC Pension Fund Scheme E - Tier I Pension / PF1.26%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in DABUR

Filings to Aug 2026

0 new, 9 added, 1 trimmed, 0 sold out — net +7.53 L shares (+1.7%).

Held by funds
₹1.8k Cr
18 schemes
Biggest holder
SBI Contra Fund
₹718 Cr · 1.5% of that fund
SchemeHoldingLast month
SBI Contra Fund SBI Mutual Fund₹718 Crheld
HDFC Large Cap Fund HDFC Mutual Fund₹290 Crheld
SBI Balanced Advantage Fund SBI Mutual Fund₹222 Crheld
HDFC Hybrid Equity Fund HDFC Mutual Fund₹126 Crheld
SBI Arbitrage Fund SBI Mutual Fund₹126 Cr+2.69 L
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹94 Crheld
SBI Multi Asset Allocation Fund SBI Mutual Fund₹91 Crheld
HDFC Arbitrage Fund HDFC Mutual Fund₹49 Cr+4.35 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

9 added, 1 trimmed — net +7.53 L shares (+1.7%)

Funds are sitting on
-20%
vs est. average cost
Held by funds
₹1.8k Cr
18 schemes · ≈ 2.6% of the company
Biggest holder
SBI Contra Fund
₹718 Cr · 1.5% of that fund
Longest holder
SBI Arbitrage Fund
4y · since Sep '22

Shares held by these funds +416%

Aug '23 4.54 cr shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹376, this stock must grow earnings at 26% every year for 7 years. Our analysis caps realistic growth at ~3%. At that growth it is worth ₹117 — downside of 69%.

Growth the price implies
25.7% a year
for 7 years, fading to 4%
It has actually compounded at
3.2% a year
net profit, FY23–FY26 · EPS 3.5%
The gap
0.2 pp
-69% downside if it only repeats history
Price today ₹376 Value at the reference growth ₹117.02

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Dabur India

Guides on how to read this kind of business and the numbers that matter.