Motilal Oswal's research report on Dabur
Dabur’s 1QFY26 performance was largely in line with our estimates. Cons. revenue increased ~2% YoY. Excluding the impact of seasonal portfolio, consol. sales grew by 7%. India business revenue grew by 4.3% YoY, excluding the seasonal portfolio. Domestic volume declined 1%; excluding the seasonal portfolio impact, volume grew ~3.5%. Home & Personal Care revenue was up 5%, backed by strong performance in oral care, home care and skin care. The healthcare portfolio declined by 4.4%; excluding glucose, it was up by 2.7%. In this portfolio, Dabur has increased prices by ~6%. F&B revenue declined 14.3% YoY given milder summers and unseasonal rains. The international business grew 13.7% YoY in cc terms and 12.7% in INR terms.
Outlook
We reiterate our BUY rating on the stock with a TP of INR600 (premised on 45x P/E on Jun’27E).
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
