Dabur India has reported early signs of demand recovery in the quarter ended December 31, 2025 (Q3 FY26), driven by GST rate revisions and improving consumer sentiment.
The company noted that October 2025 saw distributors and retailers focus on liquidating higher-priced inventory, setting the stage for stabilized trade.
“Post trade stabilisation, consumer sentiment improved in urban and rural areas. Rural demand continued to outperform urban demand this quarter as well,” the company said.
Within India, Dabur expects its Home & Personal Care business to deliver double-digit growth, fueled by strong performance in Hair Oils and Oral Care categories. Key brands likely to lead volume growth include Dabur Amla franchise, Dabur Almond, Dabur Anmol, Dabur Red Toothpaste, and Meswak. The company added that the majority of its portfolio continues to outpace category growth and is expected to register market share gains.
The Healthcare segment is set for sequential improvement, with Dabur Honey projected to grow near 10%, and Honitus and Health Juices both posting 15%+ YoY growth.
Hajmola and the Ethicals portfolio are likely to see mid-single-digit growth. While primary sales of Dabur Chyawanprash are expected to be muted, secondary sales remain positive, supporting potential market share gains.
“Aided by an extended winter, we expect Chyawanprash to gain momentum in the month of January 2026. Overall, Healthcare business is expected to report low-single digit growth,” the company said.
In the Food & Beverages segment, the Culinary business is expected to record double-digit growth. The Beverages, Nectars & Drinks portfolio may see muted performance due to seasonality, but the premium ‘Real Activ’ range is performing strongly, with 100% Activ juices and Coconut Water each expected to grow 30% plus.
The company highlighted that the beverage portfolio registered market share gains, indicating sustained consumer confidence in the 'Real' brand.
On distribution channels, organised trade continues to show strong growth momentum, with e-commerce—including quick commerce—expected to grow in strong double digits.
Internationally, Dabur reported strong performance in key markets such as MENA, Turkey, Namaste, and Bangladesh, with overall international business expected to post near double-digit growth in INR terms.
“Overall, we expect consolidated revenue to grow in the mid-single digits with operating profit and Profit after Tax to grow ahead of revenue. Favourable macroeconomic conditions and recent tax reforms are expected to support a sustained recovery in demand and improvement in revenue trajectory in the coming quarters,” the company said.
