Dabur India Ltd. — Earnings Release 2026

Oct 7, 2025

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Digitally signed by Ashok Kumar Jain DN: c=IN, o=Personal, title=2634, pseudonym=fzxn5h6lv9a4tm20edjrgc pks8q3o7w1, 2.5.4.20=08443b3bbbcf5f80cd46cc26a dd8b8bdd652ffd20caa6b7340b03564 e4b39dfa, postalCode=110092, st=Delhi, serialNumber=ecb3e1fdc2a028c70333 c2d10a7e968110c5d0645b352ed6dfd 1bc6aad8147b3, cn=Ashok Kumar Jain Date: 2025.10.07 13:04:05 +05'30'

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Update for Quarter ended September 30, 2025 (Q2 FY26)

This update provides an overall summary of the performance and demand trends witnessed during the quarter ended September 30, 2025 (Q2 FY26). This will be followed by detailed financial results and earnings presentation once the Board of Directors of the Company approves the consolidated and standalone financial results for the quarter ended September 30, 2025.

The Government’s recent GST reform represents a landmark step towards driving affordability & enhancing purchasing power which will boost consumption across categories and strengthen demand in both urban and rural markets. Dabur’s key categories like Oral care, Juices, Hair oils, Shampoo, Digestives, OTC, Branded Ethicals and Culinary which represents approximately 60% of our India business will benefit from 12%/18% GST rate cut to 5%. Now ~85% of our portfolio is at a GST rate of 5% which is a key positive.

We at Dabur, are committed to pass on the benefit of reduced GST rates to our consumers.

Following the GST Council’s September 2025 announcement on GST rate reduction, trade witnessed temporary disruption as consumers deferred purchase to benefit from lower MRPs. Distributors and retailers also focused on liquidating the existing higher-priced inventory. This resulted in a short-term moderation in sales during the month of September and, consequently, in Q2FY26. Despite these headwinds, our non-GST impacted brands like Dabur Honey, Anmol Coconut Oil, Gulabari and Hajmola Zeera have performed well. Retail offtakes continued to be resilient, enabling us to sustain market share gains in 90%+ of our portfolio.

In Home & Personal care, Oral care portfolio continued its strong growth trajectory and is likely to deliver doubledigit growth in both Red Toothpaste and Meswak. This was on the back of strong on ground execution and focused marketing initiatives. Skin care portfolio is expected to grow in high-single digits led by Gulabari and Oxy franchise. In our Hair care portfolio, we expect Shampoos to register high-single digit growth led by Vatika while Hair Oils is expected to report mid-single digit growth. Within Home care, Odonil franchise performed well.

In Healthcare, key brands such as Dabur Honey, Honitus, Hajmola franchise and Health Juices are likely to register double-digit growth underpinned by strong volumes.

Within F&B, Culinary business is expected to record double-digit growth with strong performance in Oils & Fats. In Beverages, our strategy of focusing on the premium ‘Activ’ range is yielding positive results. This quarter the Activ portfolio is expected to report robust growth of 30%+ led by both Activ juices and Coconut water. However, given the higher-than-expected rainfall and floods in July and August, our overall Beverage portfolio was impacted.

In terms of channels, E-commerce (including Quick commerce) is expected to grow in double digits and Modern Trade maintained its growth momentum

In International business, key geographies like MENA, Turkey, Namaste and Bangladesh are expected to perform well. However, our Nepal business was adversely impacted due to political unrest. Consequently, we expect our overall international business to post mid-single digit growth in INR and CC terms.

This quarter we expect consolidated revenue to grow in the mid-single digits and operating profit to grow almost in line with revenue.

With supportive macroeconomic conditions and the recently announced GST rate cuts, consumption is expected to strengthen, and we anticipate revenue growth to regain momentum in the coming quarters.

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About Dabur India Ltd

Dabur India Limited is one of India's leading FMCG Companies. Building on a legacy of quality and experience for 141 years, today 8 out of every 10 Indian households use at least one Dabur product which is a testament to the trust we have built over generations. Our portfolio today includes three INR 1000 crore brands – Dabur Amla, Dabur Red Toothpaste and Real – alongside three INR 500 crore brands and 16 brands in the INR 100-500 crore range. Today, Dabur is the 3[rd] most distributed FMCG company with 8.5 million retail outlets reach. During FY 2024-25, Dabur recorded consolidated revenue from operations of INR 12,563 crore and consolidated profit after tax of INR 1,768 crore.

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For further information please contact:

Isha Lamba Ayush Goyal Email: isha.lamba@dabur.com Email: ayush.goyal@dabur.com

Disclaimer:

The statements and financials disclosed above may differ from the reported financials to reflect the real business financial performance. Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied.