Dabur India Q3 FY26: Revenue grows 6.1%, PAT up 10.1% on strong demand
Dabur India reported Q3 FY26 consolidated revenue growth of 6.1% and PAT growth of 10.1%. Domestic FMCG grew 6% on 3% volume growth. HPC portfolio rose 10.6%, with hair oil up 19.1% and toothpaste up 10%. International business grew 11% in INR. Management anticipates sequential demand recovery and margin improvement.
The results show steady growth and positive category performance, indicating a stable financial health and operational efficiency. While positive, it does not represent a significant deviation or game-changing event for the company's long-term trajectory.
The company reported positive growth in revenue and PAT, with strong performance across key categories like HPC, hair oil, and toothpaste. The outlook for demand recovery and margin improvement is also optimistic.
Dabur India Limited announced its financial results for the third quarter and nine months ended December 31, 2025, during an investors' conference call held on January 29, 2026. The company reported a consolidated revenue growth of 6.1% year-on-year, driven by a 6% growth in its domestic FMCG business on a volume growth of 3% year-on-year.
The HPC portfolio showed robust performance with a 10.6% year-on-year growth. Within this, the Hair Oil portfolio registered a significant 19.1% growth, and the Toothpaste portfolio delivered 10% growth, with flagship brands Dabur Red, Meswak, and Herbal showing strong momentum. The Skincare and Home Care portfolios also contributed positively.
In the Healthcare category, health supplements saw low single-digit growth, while Honey grew by 10% and Chyawanprash remained flat due to trade inventory, though offtakes increased. The Digestive portfolio grew by 7%, and the Ayurvedic health juices continued their strong momentum with 17.9% growth. The international business grew by 11% in INR terms.
Profitability saw operating profit grow by 7.7% and PAT grow by 10.1%. Adjusting for a one-time provision related to labor law changes, PAT grew by 7.2%. The company expressed optimism for sequential demand recovery, supported by an improving macroeconomic environment and strategic investments.
During the Q&A session, management discussed the drivers of growth in hair oil and toothpaste categories, highlighting the shift towards natural and herbal products. They also addressed the performance of Chyawanprash, the beverage and juice business outlook, and strategies for margin improvement. The company anticipates a high single-digit growth for Q4 FY26 and aims for operating margin expansion.
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