DABUR / Q1-FY26 / claim-ledger

Audit the questions that mattered.

Dabur · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ1-FY26 · 2025-08-01Back to quarter ↗

Questions audited

12

Answered directly

92%

Numeric claims

6

Consistency

contradicted

Question ledger

What was answered, and how?

Mihir Shah · Nomura

partial

Request to revert to earlier disclosure standards and guidance on Q2 growth.

Last year, we did some sort of inventory correction... We will definitely expect the average growth... Beverage business will be low single-digit growth only in the coming quarter. The rest of the businesses should fire at double-digits.

Mihir Shah · Nomura

direct

Volume growth for the quarter and gross margin outlook.

Volume growth is low single digit, around -1%... Gross margins have not got diluted... Overall, operating margin has been maintained at the same level. For the full year, we want our operating margin to only inch up significantly.

Mihir Shah · Nomura

direct

Ad spend decline and whether base had one-offs.

Overall, advertising and promotion expenditure has actually moved up ahead of the top line... We have redirected the money from ATL into BTL... There is no one-off sitting in the base.

Prakash Kapadia · Kapadia Financial Services

partial

Long-term growth challenges in healthcare segment post-COVID.

I don't think there's any issue of the category here... Glucose... declined by some 40%. The rest of the entire portfolio has done very well... Chyawanprash has grown by around 30%... Honey has grown by around 11%.

Aditya Vikram · Digital Securities Private Limited

direct

Growth guidance for the full year and next quarter.

Full year, we are looking at a guidance of high single-digit kind of a growth for the full year. For the coming quarter... we should be looking at a double-digit growth.

Aditya Vikram · Digital Securities Private Limited

direct

Volume versus price growth breakup for the quarter.

Volume is low single digit, around -1%. Price increase is 3%, but most of it got negated... net realization was -1.8% in India.

Aditya Vikram · Digital Securities Private Limited

direct

Whether further price hikes are expected given inflation.

We are seeing more inflationary pressure... we have either taken price increases... or heightened our saving initiatives... we would be able to protect our margins despite 7-8% inflation.

Tejas Shah · Evindus Park

direct

Strategic framework for next 2-3 years and category growth expectations.

We conducted a vision exercise... seven big moves... double down on core brands... oral care, home skin care, hair care innovations... M&A in wellness.

Tejas Shah · Evindus Park

direct

M&A focus: new categories or premiumization of existing portfolio.

We are basically looking at wellness... wellness foods, wellness health... premium, which is margin equitative to our base business.

Gaurang Kakkar · Centrum Broking

direct

Volume growth ex-seasonal and inventory correction status.

Volume growth is 3% - 3.5% if you look at the 7% ex-seasonal portfolio... We don't intend to do any more inventory correction... sitting at around 21-22 days inventory.

Gaurang Kakkar · Centrum Broking

direct

EBITDA margin outlook for the full year.

We are working towards significant improvement of operating margin as compared to last year... At this year's end, we expect operating margins to move up significantly.

Alokitha Ash · Goldman Sachs

direct

Oral care outperformance and sustainability.

Oral care category growth is around 4%. We are much substantially higher... Red franchise has grown at around 9% secondary... We expect oral care to keep firing at the same momentum.