Dabur India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Consumer Care Business: 81.5% • Food: 16.5% • Others: 1.8%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
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.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 26.1%
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.0%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.17x)
- Company comfortably covers its interest (24.1x coverage)
- Stock looks reasonably valued - P/E of 43.0 is below its historical median
CONS
- A large part of profit comes from other income (25.1% of PBT)
- Working capital days have increased from 31 to 77 days
- Total debt has risen sharply - up 81.1% year on year
- Company has delivered a poor profit growth of 1.5% over past five years
- Stock is trading at 9.7x its book value
- Company has delivered a poor sales growth of 5.5% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDUNILVR | 1945.00 | 30.55 | 456995.50 | 2.11 | 2680.00 | -3.18 | 17341.00 | 6.24 | 28.98 | 22.76 |
| GODREJCP | 865.00 | 46.26 | 88515.88 | 2.31 | 504.52 | 11.51 | 4225.47 | 16.02 | 17.96 | 18.96 |
| DABUR | 372.00 | 33.46 | 65991.20 | 2.22 | 586.16 | 15.32 | 3764.39 | 10.57 | 21.37 | 19.68 |
| COLPAL | 1804.85 | 113.08 | 49089.33 | 2.66 | 3430.80 | 970.05 | 16033.00 | 1018.01 | 110.06 | 30.12 |
| CUPID | 279.60 | 273.68 | 37596.71 | 0.00 | 441.49 | 2841.89 | 1569.80 | 2524.64 | 33.93 | 39.70 |
| PGHH | 7620.50 | 31.28 | 24736.70 | 3.35 | 126.27 | -34.25 | 891.46 | -4.67 | 157.81 | 19.08 |
| GILLETTE | 7484.20 | 36.50 | 24387.43 | 3.21 | 159.45 | 9.44 | 783.02 | 10.80 | 90.62 | 29.09 |
| EMAMILTD | 369.10 | 21.53 | 16111.22 | 2.71 | 138.94 | -15.41 | 1039.21 | 14.95 | 29.54 | 21.61 |
| GALAXYSURF | 2289.25 | 22.94 | 8116.48 | 0.96 | 165.92 | 108.73 | 1781.90 | 39.44 | 13.39 | 13.99 |
| SFL | 688.55 | 35.05 | 7519.19 | 0.15 | 62.34 | 770.67 | 1031.94 | 25.63 | 6.76 | 10.85 |
| SAFARI | 1529.95 | 45.42 | 7496.34 | 0.26 | 47.75 | -5.43 | 588.58 | 11.51 | 21.55 | 12.81 |
| JYOTHYLAB | 195.40 | 19.37 | 7175.37 | 1.79 | 76.27 | -2.41 | 666.96 | 1.06 | 30.71 | 15.49 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,347 | 2,334 | 2,414 | 2,039 | 2,514 | 2,144 | 2,448 | 1,965 | 2,470 | 2,235 | 2,547 | 2,132 | 2,687 | |
| 1,885 | 1,826 | 1,883 | 1,703 | 2,017 | 1,740 | 1,926 | 1,680 | 1,984 | 1,811 | 1,992 | 1,815 | 2,240 | |
| Operating Profit | 462 | 509 | 532 | 337 | 497 | 403 | 523 | 284 | 485 | 424 | 555 | 317 | 447 |
| OPM % | 19.70% | 21.79% | 22.01% | 16.50% | 19.77% | 18.81% | 21.34% | 14.47% | 19.65% | 18.97% | 21.80% | 14.85% | 16.63% |
| 99 | 102 | 102 | 114 | 110 | 118 | 105 | 119 | 116 | 106 | 93 | 147 | 131 | |
| Interest | 15 | 18 | 24 | 23 | 19 | 29 | 28 | 23 | 17 | 20 | 22 | 23 | 22 |
| Depreciation | 51 | 51 | 52 | 54 | 60 | 64 | 64 | 63 | 63 | 64 | 66 | 67 | 67 |
| Profit before Tax | 495 | 542 | 557 | 373 | 527 | 429 | 536 | 317 | 521 | 447 | 560 | 374 | 578 |
| Tax % | 23.66% | 22.39% | 23.18% | 24.11% | 23.07% | 23.25% | 21.96% | 20.89% | 21.75% | 21.95% | 21.49% | 20.85% | 21.68% |
| Net Profit | 378 | 420 | 428 | 283 | 405 | 329 | 418 | 251 | 407 | 349 | 439 | 296 | 452 |
| 2.13 | 2.37 | 2.42 | 1.60 | 2.29 | 1.86 | 2.36 | 1.41 | 2.30 | 1.97 | 2.48 | 1.67 | 2.55 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,291 | 5,592 | 6,273 | 6,310 | 7,185 | 8,180 | 8,684 | 9,136 | 9,071 | 9,383 | 9,601 | |
| 4,181 | 4,366 | 4,909 | 4,932 | 5,629 | 6,449 | 6,988 | 7,301 | 7,368 | 7,607 | 7,858 | |
| Operating Profit | 1,110 | 1,226 | 1,364 | 1,378 | 1,556 | 1,730 | 1,697 | 1,835 | 1,703 | 1,777 | 1,743 |
| OPM % | 20.97% | 21.93% | 21.75% | 21.83% | 21.66% | 21.16% | 19.54% | 20.08% | 18.77% | 18.93% | 18.15% |
| 280 | 269 | 275 | 177 | 277 | 342 | 363 | 418 | 452 | 463 | 477 | |
| Interest | 21 | 22 | 30 | 19 | 9 | 19 | 46 | 81 | 100 | 82 | 87 |
| Depreciation | 74 | 100 | 106 | 127 | 140 | 157 | 184 | 205 | 247 | 256 | 265 |
| Profit before Tax | 1,294 | 1,373 | 1,503 | 1,408 | 1,683 | 1,896 | 1,829 | 1,967 | 1,808 | 1,901 | 1,958 |
| Tax % | 22.87% | 21.93% | 15.90% | 16.91% | 17.91% | 24.44% | 24.90% | 23.26% | 22.40% | 21.54% | 21.53% |
| Net Profit | 998 | 1,072 | 1,264 | 1,170 | 1,382 | 1,433 | 1,373 | 1,509 | 1,403 | 1,491 | 1,536 |
| EPS | 5.64 | 6.06 | 7.13 | 6.60 | 7.80 | 8.08 | 7.75 | 8.52 | 7.92 | 8.41 | — |
| Dividend Payout % | 39.70% | 123.23% | 38.42% | 45.30% | 60.75% | 64.16% | 67.09% | 64.58% | 101.04% | 98.13% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 5%
- 3 Years:
- 3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 5%
- 5 Years:
- 2%
- 3 Years:
- 3%
STOCK PRICE CAGR
- 10 Years:
- 3%
- 5 Years:
- -10%
- 3 Years:
- -13%
- 1 Year:
- -31%
RETURN ON EQUITY
- 10 Years:
- 26%
- 5 Years:
- 22%
- 3 Years:
- 21%
- Last Year:
- 20%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 3,393 | 3,958 | 3,717 | 4,304 | 5,091 | 5,539 | 6,051 | 6,642 | 7,150 | 7,292 | |
| 287 | 291 | 139 | 119 | 173 | 556 | 607 | 765 | 359 | 594 | |
| Trade Payables | 915 | 961 | 998 | 1,032 | 1,481 | 1,581 | 1,819 | 2,059 | 2,342 | 2,625 |
| 446 | 427 | 547 | 446 | 566 | 739 | 699 | 890 | 977 | 1,083 | |
| Total Liabilities | 5,217 | 5,813 | 5,579 | 6,078 | 7,487 | 8,592 | 9,352 | 10,533 | 11,005 | 11,773 |
| 942 | 980 | 987 | 1,086 | 1,157 | 1,353 | 1,617 | 1,834 | 1,992 | 2,009 | |
| Capital Work in Progress | 28 | 27 | 22 | 106 | 107 | 128 | 106 | 162 | 135 | 108 |
| 3,054 | 3,433 | 2,962 | 2,467 | 3,574 | 5,007 | 5,475 | 6,148 | 6,359 | 7,248 | |
| 599 | 705 | 733 | 809 | 1,114 | 1,238 | 1,224 | 1,150 | 1,288 | 1,365 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 561 | 719 | 601 | 473 | |
| Cash & Bank | 26 | 87 | 125 | 526 | 835 | 136 | 33 | 71 | 133 | 22 |
| 567 | 581 | 750 | 1,085 | 699 | 730 | 337 | 449 | 498 | 548 | |
| Total Assets | 5,217 | 5,813 | 5,579 | 6,078 | 7,487 | 8,592 | 9,352 | 10,533 | 11,005 | 11,773 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,201 | 1,117 | 1,443 | 1,424 | 1,979 | 1,648 | 1,562 | 1,653 | 1,623 | 1,885 | |
| Cash from Investing | -682 | -262 | 417 | -332 | -1,121 | -683 | -619 | -738 | -99 | -603 |
| Cash from Financing | -274 | -496 | -1,619 | -826 | -555 | -635 | -940 | -922 | -1,511 | -1,293 |
| -29 | 58 | -79 | -3 | 28 | 2 | 4 | -6 | 13 | -11 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
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 - Dabur India Limited has informed the Exchange about Copy of Newspaper Publication for loss of share certificates
2026-09-03 - Dabur India Limited has informed the Exchange about ESG Rating received from NSE Sustainability Ratings & Analytics Limited
2026-08-27 - Dabur India Limited has informed the Exchange about General Updates- Company's statement related to Floods in Nepal
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 - 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 - Dabur India Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Dabur India Limited has informed the Exchange about Allotment of Equity Shares under Dabur Employees Stock Option Scheme 2000
2026-08-12 - Dabur India Limited has informed the Exchange about ESG Rating received from ESG Risk Assessments and Insights Limited
News
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