Dabur India Q2FY26 Revenue Growth Moderates Amid GST Transition; Oral Care, Honey, and Activ Range Lead Gains

New Delhi, October 7, 2025: Dabur India Limited (NSE: DABUR, BSE: 500096) witnessed a moderation in top-line growth in the September quarter (Q2FY26), reflecting short-term volatility following recent GST rate cuts. Despite these challenges, the company’s core segments-oral care, healthcare, and beverages-remained resilient, supporting consolidated revenue growth in the mid-single-digit range. Operating profit is projected to expand in line with revenue, underscoring continued operational stability across key business verticals.

Segmental Performance Highlights

The oral care division recorded the highest growth in the quarter, driven by high demand for Dabur Red Toothpaste and Meswak, resulting from intensive promotional efforts. Dabur Honey, Honitus, and Hajmola, which are a part of the healthcare portfolio, also grew by a double-digit figure. Vatika shampoos did well in the hair care segment, whereas Gulabari and Oxy expanded the skincare line. The beverages segment showed mixed performance: Activ juices and Coconut Water grew over 30%, yet overall beverage sales were impacted by heavy rainfall, moderating the segment’s contribution to revenue.

GST Reform And Consumption Outlook

Dabur believes that the recent GST reduction on major FMCG products, from 12% to 18% to 5%, will enhance affordability and stimulate consumption in both urban and rural markets. Approximately 85% of Dabur’s product range is already within the 5% GST range, which should boost demand recovery, despite an initial slowdown in demand during September, as trade channels adjust prices.

Channel And Market Performance

E-commerce and quick commerce channels delivered double-digit growth, while modern trade maintained steady traction. International business experienced mid-single-digit growth, driven by strong momentum in the MENA region and Bangladesh, although Nepal remained subdued.

As of 2:15 pm IST, Dabur India’s share price was trading at ₹54.72, down ₹17.28 or 24.00% from its previous close of ₹72.00. The share opened at ₹ 57.60 and traded between ₹54.72 and ₹57.60, representing the high and low so far for the day. With a volume of 11,200, the company has an industry average of 46.12.

Dabur anticipates that revenue momentum will strengthen in the second half of FY26, as GST-led price cuts and stable macroeconomic conditions are expected to boost consumption. The company expects improved rural demand and category expansion to drive sustained growth in the future.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/cbf9bb7e-00ee-4021-b6ea-1e300972186f.pdf

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