Shares of FMCG major Dabur India rose as much as 2% to their day’s high of Rs 519 on BSE on Friday after it reported a 7% YoY increase in consolidated net profit for the December quarter at Rs 560 crore, compared with Rs 522 crore in the same period last year.

The profit after tax (PAT) is attributable to the owners of the holding company. Revenue from operations for Q3FY26 grew 6% YoY to Rs 3,559 crore, up from Rs 3,355 crore in the corresponding quarter of the previous financial year.

On a sequential basis, PAT rose 24% from Rs 453 crore in Q2FY26, while revenue increased 11% from Rs 3,191 crore reported in the July–September quarter.

The company said its FMCG business registered a 6% growth during the quarter, with broad-based performance across markets and categories.

Net profit before exceptional items climbed 10% YoY to Rs 575 crore from Rs 522 crore a year earlier, while operating profit rose 7.7% during the quarter to Rs 734 crore.

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India business performanceIn India, Dabur said its key brands delivered category-leading growth along with market share gains across major segments. This was led by a 193 bps improvement in the hair oils category, taking Dabur’s total market share in hair oils to its highest-ever level of around 20%.

The company also reported a 131 bps increase in market share in air fresheners, with its overall share reaching 44%. In the Juices & Nectars segment, Dabur gained 195 bps in market share, while its share in the 100% juices category expanded by around 646 bps.

The Skin & Salon business grew 6.6% during the quarter, while Hajmola, the company’s flagship digestives brand, recorded a 7% growth. The foods business posted a 14% increase in Q3.

International business

Dabur’s international business delivered an 11.1% growth in the third quarter, driven by strong performance across key markets including Turkey, MENA, the US and Bangladesh.

Buy, sell or hold Dabur India share?

Morgan Stanley has maintained its Underweight rating on Dabur India with an unchanged target price of Rs 400. This implies a 21% downside from current market levels. The international brokerage noted that the company’s Q3 performance remained weak but was largely anticipated. The brokerage highlighted continued pressure in the healthcare and beverages segments, although demand showed sequential improvement in December. Dabur is planning a price hike of around 2% in Q4, while growth in FY27 is expected to be driven primarily by volumes. Morgan Stanley also identified seasonality and weather conditions as key risks to the company’s outlook.

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