Dabur India
Dabur India
Consumer Goods F&OKey Fundamentals
MidcapPersonal CareConsumer GoodsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 70.1%
Weaknesses
1- The company has delivered a poor sales growth of 6.65% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
Dabur India Ltd, with a market cap of ₹66,310 Cr, trades at a PE of 34.4x and PB of 5.86x. The company has delivered modest sales CAGR of 5% over 10 years and profit CAGR of 4% over the same period, while maintaining a dividend payout of 70.1% and a dividend yield of 2.19%. The stock has declined 31% over the past year, significantly underperforming broader markets.
- Consistent dividend payout of 70.1% with a current dividend yield of 2.19%, providing steady income to shareholders in a sector where payouts are often lower
- TTM profit growth of 11% shows improving profitability trend compared to the 5-year compounded profit growth of just 2%, suggesting margin expansion or cost efficiencies are taking hold
- 10-year ROE averaging 21% demonstrates the company's ability to generate solid returns on equity over long economic cycles
- TTM sales growth of 7% exceeds the 10-year compounded sales CAGR of 5%, indicating a recent pickup in revenue momentum
- 5-year ROE of 19% remains healthy for a consumer goods company, reflecting an asset-light business model and strong brand portfolio
- Stock decline of 31% over the past year has compressed the valuation from prior premium levels, potentially offering a more reasonable entry point relative to its own historical range
- 3-year ROE of 18% remains stable and close to long-term averages, showing resilience in profitability despite a challenging demand environment
- Poor sales CAGR of just 5% over 10 years and 6.65% over five years points to structural challenges in driving top-line growth in a competitive FMCG market
- Stock has delivered a negative CAGR of -31% over 1 year, -13% over 3 years, and -10% over 5 years, reflecting sustained value destruction for shareholders
- 10-year stock CAGR of just 3% significantly trails broad market indices and peers, suggesting the market has persistently de-rated the company
- PE of 34.4x remains elevated relative to the modest 4% 10-year profit CAGR, implying the stock may still be priced for growth it has not consistently delivered
- 5-year compounded profit growth of only 2% indicates near-stagnant earnings over a meaningful period, lagging inflation and peer performance
- Last year ROE of 17% has declined from the 10-year average of 21%, a 4 percentage point drop that suggests deteriorating capital efficiency or rising competitive pressures
- PB ratio of 5.86x is elevated for a company with decelerating growth metrics, limiting valuation support if earnings disappoint further
- 3-year sales CAGR of just 5% shows that even the post-COVID recovery period did not meaningfully accelerate revenue growth beyond the long-term trend
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ESG Leader rating by NSE Sep 3
Dabur India scored an ESG rating of 73 from NSE Sustainability, placing it in the Leader category across environmental, social, and governance parameters.
- NCLT clears Sesa Care merger Aug 24
NCLT New Delhi reserved its order on the Dabur-Sesa Care Private Limited amalgamation scheme, with statutory authorities recording no objections to the sanction.
TL;DR: Dabur is seeing positive momentum on governance and corporate structuring fronts. The ESG Leader rating (73/100) strengthens its positioning with sustainability-focused investors, while the unopposed Sesa Care amalgamation signals smooth inorganic consolidation. No material headwinds emerged in this period. The trend is stable-to-positive, though meaningful catalysts will depend on upcoming quarterly earnings and demand recovery in the broader FMCG sector.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,130 | 3,204 | 3,255 | 2,815 | 3,349 | 3,029 | 3,355 | 2,830 | 3,405 | 3,191 | 3,559 | 3,038 | 3,764 |
| Expenses | 2,526 | 2,543 | 2,588 | 2,348 | 2,694 | 2,476 | 2,673 | 2,403 | 2,737 | 2,603 | 2,825 | 2,577 | 3,024 |
| Operating Profit | 605 | 661 | 667 | 466 | 655 | 553 | 682 | 427 | 667 | 588 | 734 | 461 | 741 |
| OPM % | 19% | 21% | 20% | 17% | 20% | 18% | 20% | 15% | 20% | 18% | 21% | 15% | 20% |
| Other Income | 110 | 117 | 127 | 129 | 129 | 152 | 129 | 141 | 144 | 140 | 126 | 175 | 173 |
| Interest | 24 | 28 | 36 | 35 | 33 | 47 | 44 | 39 | 35 | 40 | 31 | 40 | 37 |
| Depreciation | 97 | 98 | 97 | 107 | 109 | 111 | 109 | 117 | 114 | 115 | 117 | 122 | 121 |
| PBT | 593 | 651 | 661 | 453 | 642 | 546 | 658 | 412 | 663 | 573 | 711 | 474 | 756 |
| Tax % | 23% | 22% | 23% | 25% | 23% | 24% | 22% | 24% | 23% | 22% | 22% | 24% | 22% |
| Net Profit | 457 | 507 | 506 | 341 | 494 | 418 | 516 | 313 | 508 | 445 | 554 | 362 | 586 |
| EPS in Rs | 2.62 | 2.91 | 2.9 | 1.97 | 2.82 | 2.4 | 2.95 | 1.81 | 2.9 | 2.55 | 3.16 | 2.08 | 3.33 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7,795 | 7,780 | 7,614 | 7,722 | 8,515 | 8,685 | 9,562 | 10,889 | 11,530 | 12,404 | 12,563 | 13,193 | 13,552 |
| Expenses | 6,475 | 6,261 | 6,102 | 6,104 | 6,775 | 6,892 | 7,560 | 8,637 | 9,367 | 10,004 | 10,247 | 10,743 | 11,029 |
| Operating Profit | 1,320 | 1,518 | 1,512 | 1,617 | 1,740 | 1,792 | 2,002 | 2,252 | 2,162 | 2,400 | 2,316 | 2,450 | 2,524 |
| OPM % | 17% | 20% | 20% | 21% | 20% | 21% | 21% | 21% | 19% | 19% | 18% | 19% | 19% |
| Other Income | 154 | 217 | 296 | 291 | 222 | 205 | 325 | 308 | 445 | 482 | 551 | 585 | 613 |
| Interest | 40 | 48 | 54 | 53 | 60 | 50 | 31 | 39 | 78 | 124 | 164 | 145 | 147 |
| Depreciation | 115 | 133 | 143 | 162 | 177 | 220 | 240 | 253 | 311 | 399 | 446 | 469 | 476 |
| PBT | 1,319 | 1,554 | 1,611 | 1,693 | 1,725 | 1,728 | 2,056 | 2,269 | 2,219 | 2,359 | 2,258 | 2,420 | 2,513 |
| Tax % | 19% | 19% | 21% | 20% | 16% | 16% | 18% | 23% | 23% | 23% | 23% | 23% | — |
| Net Profit | 1,068 | 1,254 | 1,280 | 1,358 | 1,446 | 1,448 | 1,695 | 1,742 | 1,701 | 1,811 | 1,740 | 1,869 | 1,947 |
| EPS in Rs | 6.07 | 7.11 | 7.25 | 7.69 | 8.17 | 8.18 | 9.58 | 9.84 | 9.64 | 10.4 | 9.97 | 10.68 | 11.12 |
| Div. Payout % | 33% | 32% | 31% | 81% | 34% | 37% | 50% | 53% | 54% | 53% | 80% | 77% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 176 | 176 | 176 | 176 | 177 | 177 | 177 | 177 | 177 | 177 | 177 | 177 |
| Reserves | 3,178 | 3,995 | 4,671 | 5,530 | 5,455 | 6,429 | 7,487 | 8,205 | 8,796 | 9,689 | 10,623 | 11,242 |
| Borrowings | 734 | 805 | 975 | 938 | 699 | 522 | 509 | 1,030 | 1,174 | 1,365 | 950 | 1,287 |
| Other Liabilities | 2,019 | 1,956 | 1,910 | 2,058 | 2,106 | 2,209 | 2,661 | 2,872 | 3,505 | 3,885 | 4,479 | 4,773 |
| Total Liabilities | 6,106 | 6,932 | 7,732 | 8,702 | 8,437 | 9,337 | 10,833 | 12,284 | 13,652 | 15,116 | 16,230 | 17,480 |
| Fixed Assets | 1,877 | 1,667 | 1,958 | 2,028 | 1,969 | 2,253 | 2,243 | 2,308 | 3,579 | 3,815 | 3,990 | 3,938 |
| CWIP | 50 | 45 | 42 | 42 | 64 | 147 | 147 | 168 | 175 | 232 | 169 | 139 |
| Investments | 1,813 | 2,691 | 3,240 | 3,805 | 3,359 | 2,800 | 4,160 | 6,220 | 6,265 | 6,933 | 7,468 | 8,947 |
| Other Assets | 2,365 | 2,529 | 2,492 | 2,827 | 3,045 | 4,137 | 4,283 | 3,589 | 3,633 | 4,136 | 4,603 | 4,456 |
| Total Assets | 6,106 | 6,932 | 7,732 | 8,702 | 8,437 | 9,337 | 10,833 | 12,284 | 13,652 | 15,116 | 16,230 | 17,480 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 1,047 | 1,187 | 1,227 | 1,092 | 1,499 | 1,614 | 2,115 | 1,802 | 1,488 | 2,013 | 1,987 | 2,579 |
| Investing | -876 | -730 | -807 | -541 | 338 | -517 | -1,404 | -1,273 | -583 | -971 | -448 | -1,279 |
| Financing | -417 | -374 | -339 | -577 | -1,888 | -1,043 | -613 | -490 | -1,035 | -1,161 | -1,405 | -1,236 |
| Net Cash Flow | -245 | 82 | 81 | -27 | -51 | 54 | 97 | 38 | -130 | -119 | 133 | 64 |
| Free Cash Flow | 796 | 998 | 741 | 891 | 1,274 | 1,213 | 1,808 | 1,433 | 1,003 | 1,453 | 1,448 | 2,180 |
| CFO/OP | 97 | 97 | 102 | 88 | 106 | 107 | 122 | 97 | 92 | 104 | 103 | 122 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 33 | 38 | 31 | 33 | 36 | 34 | 21 | 22 | 27 | 26 | 26 | 20 |
| Inventory Days | 136 | 150 | 153 | 169 | 154 | 164 | 178 | 169 | 158 | 149 | 175 | 166 |
| Days Payable | 153 | 182 | 181 | 190 | 172 | 176 | 197 | 178 | 171 | 186 | 215 | 212 |
| Cash Conversion Cycle | 16 | 6 | 3 | 13 | 17 | 22 | 3 | 12 | 14 | -10 | -14 | -26 |
| Working Capital Days | -17 | 0 | -7 | -1 | -5 | 9 | -9 | -14 | -13 | -17 | -13 | -42 |
| ROCE % | 36% | 35% | 31% | 28% | 28% | 28% | 27% | 27% | 23% | 22% | 20% | 20% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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74 extracted metrics + investor summaries across FY07–FY27.
Documents
Frequently Asked Questions about Dabur India
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Company Information
Dabur is India’s leading FMCG, Ayurvedic and natural health care company with wide network distribution across world. [1]
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