DABUR
Mid CapDabur India Limited
Consumer
Dabur India Limited is an Indian consumer goods company with a diversified portfolio across Home & Personal Care, Healthcare, and Foods & Beverages. It focuses on driving market share gains in key categories and expanding its presence both domestically and internationally.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend argues for patience, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 37/100margin compression · Rev +7% YoY · PAT +16% YoY · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,038 Cr | +7.3% | -14.6% |
| EBITDA | ₹461 Cr | +8.0% | -37.2% |
| Operating margin | 15.0% | +0 bps | -600 bps |
| PAT | ₹362 Cr | +15.7% | -34.7% |
| PAT margin | 11.9% | +86 bps | -365 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Consolidated Revenue grew 7.3% YoY, driven by 6% India volume growth. Operating Profit increased 8.2% YoY with 12 bps margin expansion, while PAT rose 15.1% YoY (10.1% ex-one-time gain) with 82 bps margin expansion.
Dabur delivered a robust Q4 FY26, marked by strong India volume growth and consistent market share gains across its core categories. Profitability outpaced revenue growth, indicating effective cost management. However, geopolitical issues in the Middle East and adverse weather conditions impacted some segments.
Domestic Revenue by Vertical
Latest issuer-disclosed distribution across 3 reported categories.
Amla franchise
Hair oils sustained its growth momentum and grew in twenties; driven by Amla franchise
Shampoo category
Shampoo category registered growth in early twenties and market share gains
Dabur Honey
Dabur Honey reported double-digit growth in twenties
Hajmola franchise
Hajmola franchise grew in double digits and gained market share
Market Share Gains
Continued gain in market shares across key categories
Strong HPC Performance
HPC registered strong double-digit growth
International Growth (ex-MENA)
Double-Digit Growth Across Major Markets (SSA, Bangladesh, Nigeria, Turkey, UK)
Middle East Business Impact
Middle east business impacted amidst geo political disturbances
Unseasonal Rains
Unseasonal rains in March-2026 impacted summer portfolio business
Geopolitical Volatility
Middle east business impacted amidst geo political disturbances
Weather Dependency
Unseasonal rains in March-2026 impacted summer portfolio business
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
All financial and business performance metrics in the presentation are explicitly stated as Year-on-Year (YoY) growth, indicating this is the primary comparison basis.
India Volume Growth
6% India Volume Growth
Market Share Gains
Continued gain in market shares across key categories
Operating Profit Margin
Operating Profit % of Revenue 15.2% (Q4 FY26), +12 bps YoY
Material Cost Trend
Material Cost 1,570.1 Cr (Q4 FY26), +4.0% YoY
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| India Volume Growth | 6% | Sustained or accelerating volume growth in India FMCG |
| Operating Profit Margin | 15.2% | Continued margin expansion or stability despite input cost fluctuations |
| International Business Performance | 7.3% YoY (Consolidated) | Recovery in MENA region and continued strong growth in other international markets |
| Market Share Trends | Gains across key categories | Continued market share gains across core categories |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
42NeutralSMA20 -10.3% / mo · near 52W low
Technical chart
DABURweekly · 3Y-19.8%Technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 40. Wait for confirmation.
- SMA20 falling (~11.5% over last month) — short-term momentum negative.
- RSI(14) at 40 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 23% off 52W high · 6% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 12/15 to the score.
- Cash flow contributes 8/10 to the score.
Main drags
- Fair-value margin of safety is negative at -314.8%.
- Valuation is weaker at 5/30; verify the latest quarterly trend.
- Growth is weaker at 5/25; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 95th percentile of the scored universe and 96th percentile within Consumer. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 66.3%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Consumer: 96th pctile, median 67 · Mid: 81st pctile, median 76
215 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 66.3%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.2%.
- ▸10 years of positive FCF.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 39.00
- P/B
- 6.52
- EV/EBITDA
- 25.95
- Market Cap
- 74462.00Cr
Profitability
- ROE
- 17.20%
- ROCE
- 20.40%
- ROA
- 10.69%
- Dividend Y
- 1.97%
Growth (CAGR)
- Revenue 5Y
- 7.00%
- EPS 5Y
- 2.00%
- Revenue 3Y
- 5.00%
- EPS 3Y
- 4.00%
Balance Sheet
- Debt/Equity
- 0.11
- Interest Coverage
- 16.90×
- Altman Z
- 8.35
- Book Value
- 64.40
Cash Flow
- FCF Yield
- 2.16%
- FCF Positive Y
- 10/5
- OCF
- 2579.00 Cr
- EPS TTM
- 10.68
Shareholding
- Promoter Hold
- 66.25%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 11%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.