Dabur expects FMCG business to grow in double digits in Q2 2027

Dabur India is expecting a double-digit rise in consolidated revenue for the quarter ended September 30, 2026, with its India FMCG business also projected to deliver double-digit growth.

The company expects the India FMCG business to put in its strongest performance in recent quarters, despite a volatile operating environment marked by renewed geopolitical tensions in the Middle East, inflationary pressure across commodities and deficient rainfall.

Home and Personal Care (HPC) is expected to be among the key contributors to the performance, with the portfolio projected to register double-digit growth. Hair Oils and Shampoos are expected to grow in the high teens, supported by both perfumed and coconut hair oils. The segment is set to mark its fourth consecutive quarter of double-digit growth.

Skin Care is also projected to grow in double digits, while Home Care is expected to record high-single-digit growth. Oral Care is likely to register mid-single-digit growth, despite being measured against a high base.

The Healthcare business is projected to grow in the mid-single digits. OTC & Ethicals is expected to recover sequentially with early-teens growth, while Digestives are likely to sustain their momentum with high-teens growth.

Health supplements, however, faced a temporary setback during the quarter as Dabur continued the transition to refreshed packaging and labels across the portfolio.

Food and Beverages is expected to post mid-teens growth. Foods is likely to maintain strong double-digit growth, while Beverages is projected to grow in the early teens. The company said the sequential recovery in Beverages was supported by an expanded portfolio across formats and price points, along with a favourable season.

Dabur is also continuing to lean into e-commerce and quick commerce, with both channels expected to maintain strong growth as the company invests in its omnichannel distribution strategy. Modern Trade is expected to continue its double-digit growth trajectory.

General Trade also remained on a growth path across urban and rural markets, with rural markets growing faster than urban markets. Dabur attributed this trend to its continued efforts under Project Saksham.

The company’s International Business is expected to deliver high-teens growth in INR terms despite severe headwinds in the Middle East. Egypt, Turkey, the US, Bangladesh and the UK each recorded strong double-digit growth in INR terms during the quarter.

The growth outlook comes against continued pressure on operating margins from elevated input costs, particularly in HPC and OTC & Ethicals. Dabur said calibrated price increases and ongoing cost-saving initiatives partly offset the impact.

Profit after tax is also expected to continue growing at a double-digit rate.

Dabur currently has three brands with annual revenues above Rs 1,000 crore: Dabur Amla, Dabur Red Toothpaste and Real. It also has three brands in the Rs 500-crore-plus range and 16 brands generating between Rs 100 crore and Rs 500 crore annually. In FY26, the company reported consolidated revenue from operations of Rs 13,192 crore and consolidated profit after tax of Rs 1,895 crore.