Dabur India Ltd.

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dabur.comBSE: 500096NSE: DABUR

Market Cap₹ 66,789 Cr.

Current Price

High / Low₹ 544 / 368

Stock P/E33.9

Book Value₹ 67

Price to Book6.44

Dividend Yield2.19 %

ROCE21.4 %

ROE17.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Consumer Care Business: 82.3% • Food: 15.3% • Others: 1.3%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

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PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 22.2%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.21x)
Company comfortably covers its interest (17.6x coverage)
Stock looks reasonably valued - P/E of 33.9 is below its historical median

CONS

Working capital days have increased from 56 to 87 days
Total debt has risen sharply - up 45.5% year on year
Company has delivered a poor profit growth of 2.0% over past five years
Stock is trading at 6.4x its book value
Company has delivered a poor sales growth of 6.6% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGHousehold & Personal Products

Part ofNIFTY FMCG NIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100 NIFTY MIDCAP 150

S.No.	Name
1.	HINDUNILVR	1934.00	30.38	454410.95	2.12	2680.00	-3.18	17341.00	6.24	28.98	22.76
2.	GODREJCP	864.60	46.24	88474.95	2.31	504.52	11.51	4225.47	16.02	17.96	18.96
3.	DABUR	376.50	33.87	66789.48	2.19	586.16	15.32	3764.39	10.57	21.37	19.68
4.	COLPAL	1797.60	112.63	48892.14	2.67	3430.80	970.05	16033.00	1018.01	110.06	30.12
5.	CUPID	280.00	274.07	37650.50	0.00	441.49	2841.89	1569.80	2524.64	33.93	39.70
6.	PGHH	7519.40	30.87	24408.53	3.39	126.27	-34.25	891.46	-4.67	157.81	19.08
7.	GILLETTE	7307.85	35.64	23812.79	3.28	159.45	9.44	783.02	10.80	90.62	29.09
8.	EMAMILTD	363.90	21.23	15884.24	2.75	138.94	-15.41	1039.21	14.95	29.54	21.61
9.	GALAXYSURF	2188.10	21.93	7757.85	1.01	165.92	108.73	1781.90	39.44	13.39	13.99
10.	SAFARI	1543.70	45.83	7563.71	0.26	47.75	-5.43	588.58	11.51	21.55	12.81
11.	SFL	691.25	35.19	7548.68	0.14	62.34	770.67	1031.94	25.63	6.76	10.85
12.	JYOTHYLAB	195.00	19.33	7160.68	1.79	76.27	-2.41	666.96	1.06	30.71	15.49

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3,130	3,204	3,255	2,815	3,349	3,029	3,355	2,830	3,405	3,191	3,559	3,038	3,764
	2,526	2,543	2,587	2,348	2,694	2,476	2,673	2,403	2,737	2,603	2,825	2,576	3,181
Operating Profit	605	661	668	467	655	553	682	427	668	588	734	462	584
OPM %	19.32%	20.63%	20.52%	16.59%	19.56%	18.24%	20.32%	15.08%	19.62%	18.43%	20.63%	15.20%	15.50%
	110	116	127	129	129	152	128	141	144	140	126	175	173
Interest	24	28	36	35	33	47	44	39	35	40	31	40	37
Depreciation	97	98	97	107	109	111	109	117	114	115	117	122	121
Profit before Tax	594	651	662	453	643	546	657	412	663	573	711	475	756
Tax %	23.04%	22.17%	23.42%	24.60%	23.05%	23.53%	21.57%	24.08%	23.28%	22.37%	22.14%	23.53%	22.43%
Net Profit	0	0	0	0	494	418	516	313	508	445	554	362	586
	2.62	2.91	2.90	1.97	2.82	2.40	2.95	1.81	2.90	2.55	3.16	2.08	3.33

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	7,614	7,722	8,515	8,685	9,562	10,889	11,530	12,404	12,563	13,193	13,552
	6,106	6,107	6,778	6,895	7,562	8,638	9,370	10,008	10,251	10,745	11,185
Operating Profit	1,507	1,615	1,737	1,789	1,999	2,250	2,160	2,396	2,312	2,447	2,368
OPM %	19.79%	20.91%	20.40%	20.60%	20.91%	20.67%	18.73%	19.32%	18.40%	18.55%	17.47%
	303	291	221	205	325	308	445	482	550	585	613
Interest	59	53	60	50	31	39	78	124	164	145	147
Depreciation	141	160	174	217	237	250	307	395	441	464	476
Profit before Tax	1,611	1,693	1,725	1,728	2,056	2,269	2,219	2,359	2,258	2,420	2,515
Tax %	20.51%	19.81%	16.15%	16.19%	17.56%	23.20%	23.32%	23.21%	22.92%	22.80%	22.54%
Net Profit	1,280	1,358	1,446	1,448	1,695	1,742	1,701	1,811	1,740	1,869	1,948
EPS	7.21	7.66	8.14	8.15	9.55	9.81	9.64	10.40	9.97	10.68	—
Dividend Payout %	31.04%	97.54%	33.68%	36.69%	49.58%	52.86%	53.97%	52.89%	80.21%	77.22%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 7%
3 Years:: 5%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: 2%
3 Years:: 4%

STOCK PRICE CAGR

10 Years:: 3%
5 Years:: -10%
3 Years:: -13%
1 Year:: -31%

RETURN ON EQUITY

10 Years:: 22%
5 Years:: 19%
3 Years:: 18%
Last Year:: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	176	176	177	177	177	177	177	177	177	177
Minority Interest	25	27	31	36	37	41	468	437	410	383
	4,582	5,438	5,380	6,336	7,363	8,056	8,737	9,593	10,528	11,118
	914	833	529	472	485	1,011	1,148	1,334	914	1,250
Trade Payables	1,310	1,410	1,455	1,482	1,915	2,018	2,187	2,422	2,825	2,954
	725	818	864	829	853	981	935	1,154	1,376	1,598
Total Liabilities	7,732	8,702	8,437	9,332	10,829	12,284	13,652	15,116	16,230	17,480
	1,903	1,974	1,917	2,201	2,192	2,259	3,532	3,770	3,946	3,895
Capital Work in Progress	42	42	64	147	147	168	171	209	166	137
	3,240	3,805	3,359	2,800	4,160	6,220	6,265	6,933	7,468	8,947
	1,107	1,256	1,301	1,380	1,734	1,911	2,024	1,947	2,300	2,322
	0	0	0	0	0	0	849	899	888	715
Cash & Bank	305	306	328	811	1,329	570	326	666	578	562
	1,135	1,319	1,468	1,993	1,267	1,156	485	693	883	901
Total Assets	7,732	8,702	8,437	9,332	10,829	12,284	13,652	15,116	16,230	17,480

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,549	1,416	1,850	1,923	2,436	2,190	1,488	2,013	1,987	2,579
Cash from Investing	-807	-540	337	-517	-1,406	-1,275	-587	-972	-449	-1,285
Cash from Financing	-339	-577	-1,888	-1,043	-613	-490	-1,035	-1,161	-1,405	-1,236
	81	-26	-52	54	95	36	-133	-119	132	58

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.24	66.25	66.26	66.27	66.22	66.22	66.23	66.25	66.24
	14.99	15.05	13.28	12.68	11.85	10.88	10.05	9.98	9.66
	13.45	13.57	14.81	15.61	16.15	17.28	18.28	18.45	18.59
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	5.26	5.08	5.58	5.37	5.71	5.51	5.35	5.22	5.38

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

General Updates

2026-09-11 - Dabur India Limited has informed the Exchange about updated contact details of Key Managerial Personnel(s) of the Company under Regulation 30(5) of the SEBI (LODR) Regulations 2015

2026-09-10

Copy of Newspaper Publication

2026-09-10 - Dabur India Limited has informed the Exchange about Publication of notice pertaining to proposed transfer of equity shares to Investor Education and Protection Fund (IEPF) Account

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Dabur India Limited has informed the Exchange about Copy of Newspaper Publication for loss of share certificates

2026-09-03

General Updates

2026-09-03 - Dabur India Limited has informed the Exchange about ESG Rating received from NSE Sustainability Ratings & Analytics Limited

2026-08-27

General Updates

2026-08-27 - Dabur India Limited has informed the Exchange about General Updates- Company's statement related to Floods in Nepal

2026-08-25

Action(s) initiated or orders passed

2026-08-25 - Dabur India Limited has informed the Exchange about update on letters dated August 04, 2026, and August 07, 2026

2026-08-24

Scheme of Arrangement

2026-08-24 - Dabur India Limited has informed the Exchange about update related to Scheme of Amalgamation between Sesa Care Private Limited and Dabur India Limited- Order Reserved for the Second Motion Petition by the Hon'ble National Company Law Tribunal, New Delhi Bench

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Dabur India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

General Updates

2026-08-12 - Dabur India Limited has informed the Exchange about Allotment of Equity Shares under Dabur Employees Stock Option Scheme 2000

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