Dabur Q2 profit rises 12% as FMCG sales improve

Dabur India Limited (NSE: DABUR) reported a healthy Q2 FY27 performance, with consolidated revenue increasing 11.6% YoY to ₹3,563 crore. Net profit rose 11.7% to ₹505 crore, marking the company's fourth consecutive quarter of double-digit profit growth. Key Highlights • Consolidated revenue increased 11.6% to ₹3,563 crore. • Net profit grew 11.7% to ₹505 crore. • India FMCG business recorded 10.7% growth, supported by 5.5% underlying volume growth. • International business grew 20% in rupee terms. • Food & Beverages grew 17.4%, while Home & Personal Care increased 10.9%. • Premium brands grew at four times the pace of regular brands. • The board declared an interim dividend of ₹3.50 per share. Record date: November 10, 2026. My View Dabur delivered broad-based growth across domestic and international markets. The 5.5% underlying volume growth in India is particularly encouraging, suggesting that growth is not solely driven by pricing. The international business and Food & Beverages segment also provided meaningful support. However, operating profitability deserves attention. Operating profit grew 7.5%, slower than revenue growth, while operating margin contracted by 60 basis points to 17.8%. What I'm Watching Next I will monitor domestic volume growth, input-cost trends, operating margins and the sustainability of international business growth. The key question is whether Dabur can maintain double-digit growth while improving operating leverage. Stance: Moderately positive. Strong volume growth and broad-based performance are encouraging, but margin improvement remains important. Disclosure: I do not have any holding or position in the stock mentioned above.