Transcript of Investor''s conference call for Dabur India Limited - Q4 FY 2025-26 Financial Results

Dabur India reported Q4 FY26 consolidated revenue growth of 7.3% YoY with domestic FMCG business growing 9.5% backed by 6% volume growth. Operating profit grew 8.2% and PAT grew 15%. HPC portfolio was the star performer with 17% growth, driven by Hair Oils (28%), Shampoos (20%), and Home Care (24%). Healthcare portfolio grew mid-teens ex-glucose, which declined 24-25% due to unseasonal rains. Management revised FY27 revenue guidance upward from high single-digit to high single to low double-digit growth, expecting 50% from volume and balance from pricing. The company faces ~10% inflation due to Middle East geopolitical tensions and has already announced 4% price increases across HPC portfolios. International business remains muted at 2.5% growth due to Middle East supply chain disruptions, inflation impact, and expat exodus. Management committed to margin improvement through price increases, premiumization, and cost savings initiatives.