Dabur profit rises 12% on broad-based growth

Research Analyst: UJVIN NEVATIA (PROPRIETOR: NEVAT INVESTMENTS) | SEBI Registration No.: INH100009628 Dabur India Limited (

) reported consolidated net profit of ₹505.5 crore in Q2 FY27, up 11.7% year-on-year from ₹452.6 crore. Revenue from operations increased 11.6% to ₹3,563.1 crore. What happened? EBITDA increased 7.7% to ₹633 crore, while operating margin contracted by approximately 60 basis points. The India FMCG business grew 10.7%, supported by underlying volume growth of 5.5%. Food and beverages emerged as the fastest-growing segment, recording 17.4% growth. Home and personal care grew 10.9%, while healthcare grew 6.9%. Premium brands continued to outperform regular products, growing at four times their pace and contributing 20% of domestic business. International business revenue increased 20% in rupee terms. The company also declared an interim dividend of ₹3.50 per share. Why does it matter? Revenue growth was supported by multiple categories and healthy underlying volumes. However, EBITDA growth lagged revenue growth, indicating pressure on operating profitability amid elevated input costs. My view The quarter reflects broad-based demand recovery, particularly in food and beverages and premium products. However, margin contraction suggests that cost pressures have not disappeared. Sustaining volume growth while improving operating margins will be important. The announced resignation of Global CEO Mohit Malhotra, effective November 13, is also a management transition worth monitoring. What I am watching next I would track domestic volume growth, premium-brand contribution, international performance, input costs, EBITDA margins and the leadership transition. No Recommendations Source: NDTV Profit Disclosure: I, my entity, associates or relatives do not have any holding, position or other material interest in Dabur India Limited.