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India File: Iran conflict threatens sweet-spot economy
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 3 - By Ira Dugal, Editor Financial News, with global Reuters staff
Just when things seemed to be finally going right for the $3.8 trillion Indian economy, war has broken out between Iran and U.S.-Israel and engulfed other parts of the Middle East, bringing to the fore risks to the South Asian nation's external sector that have not been fully priced in.
Can a protracted conflict prematurely end the economy's Goldilocks phase? That's our focus this week. Write to me with your views at [email protected]
To stay updated on developments, sign up for Reuters Gulf Currents newsletter and follow live coverage here.
And, technical incidents at Air India have risen. Scroll down for more on that Reuters exclusive.
THIS WEEK IN ASIA
** Khamenei killing shatters Iran's order, triggers high-stakes succession race
** How Dubai's safe-haven status is being put to the test
** Bank of Japan deputy governor says rate hikes likely to continue
**China's annual parliament meet to unveil roadmap for tech race with the West
** 'Will it give me a job?': Nepal's election promises don't stop youth exodus
PRESSURE ON OIL COSTS
With the overhang of U.S. tariffs lifted recently, the Indian economy has been chugging along at a strong pace of growth with low inflation. But the Iran versus U.S.-Israel military conflict threatens to upend it.
The risks of an extended conflict in the Middle East, analysts say, could range from higher commodity prices to lower worker remittances and disruptions to businesses that have diversified to the flourishing economies in the region.
"A prolonged conflict, alongside a large jump in energy prices, would be a major macro negative (for India)," brokerage Jefferies said in a note on Monday.
The region accounts for 17% of India's exports, provides 55% of crude oil and 38% of worker remittances, it said.
Oil prices surged 8% on Monday following the military strikes over the weekend, with Brent crude LCOc1 for a while trading above $82 a barrel.
Prices could spike to $100 per barrel, Barclays said.
Global energy markets could face one of their gravest crises in decades with the scale of disruption likely to be determined by the duration of the conflict, Reuters Open Interest columnist Ron Bousso wrote. Read that piece here.
India could be among the most vulnerable if higher oil prices are sustained, analysts said. Read here to understand why. Government officials said on Monday steps will be taken to ensure local fuel supplies.
Every $10 per barrel increase in oil prices widens India's current account deficit to GDP ratio by 0.5%, Mumbai-based brokerage Emkay Global Financial Services said. It can add up to 35 basis points to retail inflation and hit GDP growth by 15-20 basis points, the brokerage added.
Nomura economists said that an extended increase in fuel costs could prompt governments in the region to use higher subsidies and lower taxes to protect consumers from the impact.
"Higher oil prices solidify the case for central banks to stay on hold," Nomura said.
Disruption of crucial sea routes could also hurt. Roughly a third of global seaborne crude oil exports pass through the Strait of Hormuz, with most volumes destined for economies such as China, India, Japan and South Korea, Moody's Analytics said.
An added risk for India is another spurt in already-high gold prices. Together oil and gold accounted for nearly a third of India's import bill in value terms in the current financial year till January.
Indian asset markets reflected these risks in Monday's trading, with equities and the rupee sliding and bond yields rising.
WORKER REMITTANCES MAY DWINDLE
India is walking a tightrope in the conflict, boasting historical cultural ties with Iran and strong strategic relations with Israel. Prime Minister Narendra Modi held talks with Israeli Prime Minister Benjamin Netanyahu in Jerusalem last week.
Weakness in the economies of Middle East nations could also hit large remittances that India gets from workers in the region, while putting businesses at risk.
Larsen and Toubro LART.NS, India's largest engineering and construction company, has nearly 40% of its engineering, procurement and construction order book coming from the region, Jefferies said. A few consumer goods companies, such as Dabur DABU.NS and Titan TITN.NS, along with pharma firms, also have material revenues linked to the Middle East, it said.
Additionally, airlines and tourism companies could be at risk of hits to profits if oil prices remain high and travel remains disrupted.
Extended uncertainty could also weigh on the near 10 million Indian workers in the Middle East, according to government data, many of whom send earnings home, boosting household finances and acting as a major source of foreign currency inflows into India.
The widening of the conflict across the region could slow down remittances, said Emkay Global, adding, though, that this was not their base case.
MARKET MATTERS
India's economy grew at 7.8% in the October-December period and is seen expanding at 7.6% in the current financial year, according to data released by the government under a revamped GDP series.
Read here for the key takeaways and catch up on views from economists here.
The new series is expected to provide a clearer read on the economy as it widens the sources of information, shifts to a more technically sound way of computing real GDP growth and updates the base year.
THIS WEEK'S MUST-READ
Technical incidents such as engine oil and fuel leaks affecting Air India flights reached their highest rate in at least 14 months in January, Reuters' Abhijith Ganapavaram and Aditya Kalra reported.
The airline in December admitted there was a "need for urgent improvements in process discipline, communication, and compliance culture".
In January, Air India recorded 1.09 technical incidents per 1,000 flights, quadrupling from levels of just 0.26 in December 2024.
Read that exclusive report here.
Indian stocks, rupee fall as Iran war roils sentiment https://reut.rs/46UHnWL
India GDP growth projected at 7.6% under new series https://reut.rs/3MTmh3V
OPEC's share in India's July crude mix rises as Russia declines https://reut.rs/4kLel1l
Iran conflict embeddable graphics: Attacks and counterattacks https://reut.rs/4bfzoG2
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
(([email protected]; +91-9833024892;))
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 3 - By Ira Dugal, Editor Financial News, with global Reuters staff
Just when things seemed to be finally going right for the $3.8 trillion Indian economy, war has broken out between Iran and U.S.-Israel and engulfed other parts of the Middle East, bringing to the fore risks to the South Asian nation's external sector that have not been fully priced in.
Can a protracted conflict prematurely end the economy's Goldilocks phase? That's our focus this week. Write to me with your views at [email protected]
To stay updated on developments, sign up for Reuters Gulf Currents newsletter and follow live coverage here.
And, technical incidents at Air India have risen. Scroll down for more on that Reuters exclusive.
THIS WEEK IN ASIA
** Khamenei killing shatters Iran's order, triggers high-stakes succession race
** How Dubai's safe-haven status is being put to the test
** Bank of Japan deputy governor says rate hikes likely to continue
**China's annual parliament meet to unveil roadmap for tech race with the West
** 'Will it give me a job?': Nepal's election promises don't stop youth exodus
PRESSURE ON OIL COSTS
With the overhang of U.S. tariffs lifted recently, the Indian economy has been chugging along at a strong pace of growth with low inflation. But the Iran versus U.S.-Israel military conflict threatens to upend it.
The risks of an extended conflict in the Middle East, analysts say, could range from higher commodity prices to lower worker remittances and disruptions to businesses that have diversified to the flourishing economies in the region.
"A prolonged conflict, alongside a large jump in energy prices, would be a major macro negative (for India)," brokerage Jefferies said in a note on Monday.
The region accounts for 17% of India's exports, provides 55% of crude oil and 38% of worker remittances, it said.
Oil prices surged 8% on Monday following the military strikes over the weekend, with Brent crude LCOc1 for a while trading above $82 a barrel.
Prices could spike to $100 per barrel, Barclays said.
Global energy markets could face one of their gravest crises in decades with the scale of disruption likely to be determined by the duration of the conflict, Reuters Open Interest columnist Ron Bousso wrote. Read that piece here.
India could be among the most vulnerable if higher oil prices are sustained, analysts said. Read here to understand why. Government officials said on Monday steps will be taken to ensure local fuel supplies.
Every $10 per barrel increase in oil prices widens India's current account deficit to GDP ratio by 0.5%, Mumbai-based brokerage Emkay Global Financial Services said. It can add up to 35 basis points to retail inflation and hit GDP growth by 15-20 basis points, the brokerage added.
Nomura economists said that an extended increase in fuel costs could prompt governments in the region to use higher subsidies and lower taxes to protect consumers from the impact.
"Higher oil prices solidify the case for central banks to stay on hold," Nomura said.
Disruption of crucial sea routes could also hurt. Roughly a third of global seaborne crude oil exports pass through the Strait of Hormuz, with most volumes destined for economies such as China, India, Japan and South Korea, Moody's Analytics said.
An added risk for India is another spurt in already-high gold prices. Together oil and gold accounted for nearly a third of India's import bill in value terms in the current financial year till January.
Indian asset markets reflected these risks in Monday's trading, with equities and the rupee sliding and bond yields rising.
WORKER REMITTANCES MAY DWINDLE
India is walking a tightrope in the conflict, boasting historical cultural ties with Iran and strong strategic relations with Israel. Prime Minister Narendra Modi held talks with Israeli Prime Minister Benjamin Netanyahu in Jerusalem last week.
Weakness in the economies of Middle East nations could also hit large remittances that India gets from workers in the region, while putting businesses at risk.
Larsen and Toubro LART.NS, India's largest engineering and construction company, has nearly 40% of its engineering, procurement and construction order book coming from the region, Jefferies said. A few consumer goods companies, such as Dabur DABU.NS and Titan TITN.NS, along with pharma firms, also have material revenues linked to the Middle East, it said.
Additionally, airlines and tourism companies could be at risk of hits to profits if oil prices remain high and travel remains disrupted.
Extended uncertainty could also weigh on the near 10 million Indian workers in the Middle East, according to government data, many of whom send earnings home, boosting household finances and acting as a major source of foreign currency inflows into India.
The widening of the conflict across the region could slow down remittances, said Emkay Global, adding, though, that this was not their base case.
MARKET MATTERS
India's economy grew at 7.8% in the October-December period and is seen expanding at 7.6% in the current financial year, according to data released by the government under a revamped GDP series.
Read here for the key takeaways and catch up on views from economists here.
The new series is expected to provide a clearer read on the economy as it widens the sources of information, shifts to a more technically sound way of computing real GDP growth and updates the base year.
THIS WEEK'S MUST-READ
Technical incidents such as engine oil and fuel leaks affecting Air India flights reached their highest rate in at least 14 months in January, Reuters' Abhijith Ganapavaram and Aditya Kalra reported.
The airline in December admitted there was a "need for urgent improvements in process discipline, communication, and compliance culture".
In January, Air India recorded 1.09 technical incidents per 1,000 flights, quadrupling from levels of just 0.26 in December 2024.
Read that exclusive report here.
Indian stocks, rupee fall as Iran war roils sentiment https://reut.rs/46UHnWL
India GDP growth projected at 7.6% under new series https://reut.rs/3MTmh3V
OPEC's share in India's July crude mix rises as Russia declines https://reut.rs/4kLel1l
Iran conflict embeddable graphics: Attacks and counterattacks https://reut.rs/4bfzoG2
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
(([email protected]; +91-9833024892;))
Dabur Invests In Ras Beauty
March 2 (Reuters) - Dabur India Ltd DABU.NS:
INVESTS IN RAS BEAUTY
TO ACQUIRE MINORITY STAKE FOR 600 MILLION RUPEES
Further company coverage: DABU.NS
(([email protected];;))
March 2 (Reuters) - Dabur India Ltd DABU.NS:
INVESTS IN RAS BEAUTY
TO ACQUIRE MINORITY STAKE FOR 600 MILLION RUPEES
Further company coverage: DABU.NS
(([email protected];;))
Dabur names Mohit Malhotra global CEO, appoints Bhalla as India chief
Feb 17 (Reuters) - Consumer goods maker Dabur India DABU.NS said on Tuesday that its board has redesignated Mohit Malhotra as global CEO with immediate effect and appointed Herjit Bhalla as CEO for its India business effective April 15, 2026.
(Reporting by Urvi Dugar in Bengaluru; Editing by Vijay Kishore)
(([email protected]; +91 9558725583;))
Feb 17 (Reuters) - Consumer goods maker Dabur India DABU.NS said on Tuesday that its board has redesignated Mohit Malhotra as global CEO with immediate effect and appointed Herjit Bhalla as CEO for its India business effective April 15, 2026.
(Reporting by Urvi Dugar in Bengaluru; Editing by Vijay Kishore)
(([email protected]; +91 9558725583;))
India's Patanjali Foods posts profit rise as tax cuts boost demand
Feb 11 (Reuters) - Indian consumer goods maker Patanjali Foods PAFO.NS reported an almost 60% rise in third-quarter profit on Wednesday, aided by steady edible oils sales and tax cuts that increased consumer demand.
The Sunrich brand oil maker's profit rose to 5.93 billion rupees ($65.33 million) for the three months ended December 31, up from 3.71 billion rupees a year earlier.
Demand for edible oil has remained strong over the past few quarters even as other consumer goods have faced a slowdown, as it is a staple for cooking in the world's most populous country.
Revenue from Patanjali's edible oils segment, which makes up about 70% of the company's total revenue, rose about 9% to 73.36 billion rupees.
That led to nearly 17% growth in overall revenue to 104.84 billion rupees.
“Driven by disciplined execution of our business strategies over recent quarters, the Company achieved its strongest financial performance to date across multiple metrics, even amid a dynamic operating environment," CEO Sanjeev Asthana said.
Revenue from the food and fast-moving consumer goods segment rose nearly 40%, helped by tax cuts.
Indian consumer goods makers such as Britannia BRIT.NS, ITC ITC.NS and Dabur DABU.NS have been seeing a gradual recovery in demand, after several quarters of pressure, aided by the tax cuts and slowing inflation.
Earlier in the month, larger peer Adani Wilmar ADAW.NS reported a slump in quarterly profit as it took a large one-off gain in the year-ago period due to sharp commodity price increases.
($1 = 90.7680 Indian rupees)
(Reporting by Komal Salecha in Bengaluru; Editing by Ronojoy Mazumdar and Tasim Zahid)
(([email protected]; 6354975591))
Feb 11 (Reuters) - Indian consumer goods maker Patanjali Foods PAFO.NS reported an almost 60% rise in third-quarter profit on Wednesday, aided by steady edible oils sales and tax cuts that increased consumer demand.
The Sunrich brand oil maker's profit rose to 5.93 billion rupees ($65.33 million) for the three months ended December 31, up from 3.71 billion rupees a year earlier.
Demand for edible oil has remained strong over the past few quarters even as other consumer goods have faced a slowdown, as it is a staple for cooking in the world's most populous country.
Revenue from Patanjali's edible oils segment, which makes up about 70% of the company's total revenue, rose about 9% to 73.36 billion rupees.
That led to nearly 17% growth in overall revenue to 104.84 billion rupees.
“Driven by disciplined execution of our business strategies over recent quarters, the Company achieved its strongest financial performance to date across multiple metrics, even amid a dynamic operating environment," CEO Sanjeev Asthana said.
Revenue from the food and fast-moving consumer goods segment rose nearly 40%, helped by tax cuts.
Indian consumer goods makers such as Britannia BRIT.NS, ITC ITC.NS and Dabur DABU.NS have been seeing a gradual recovery in demand, after several quarters of pressure, aided by the tax cuts and slowing inflation.
Earlier in the month, larger peer Adani Wilmar ADAW.NS reported a slump in quarterly profit as it took a large one-off gain in the year-ago period due to sharp commodity price increases.
($1 = 90.7680 Indian rupees)
(Reporting by Komal Salecha in Bengaluru; Editing by Ronojoy Mazumdar and Tasim Zahid)
(([email protected]; 6354975591))
India tax cut tailwind offsets one-off labour hit to Dabur's quarterly profit
Jan 29 (Reuters) - India's Dabur DABU.NS reported third-quarter profit largely in line with analysts' estimates on Thursday, as the demand boost from the country's consumption tax cuts offset the one-time charge from a labour code revision.
Sales of Dabur's honey and other products such as toothpaste, hair oils, and coconut water grew in the double digit percentage in the quarter, the company said in a business update earlier in the month.
The consumption tax cut implemented last year boosted demand for Dabur and the company expects the effect to continue into the coming quarters, as 60% of its portfolio that was taxed at rates of 12% and 18% are now taxed at 5%.
As demand improves and recent good and services tax cuts offer additional support, Dabur is well‑positioned for the coming quarters, CEO Mohit Malhotra said in a statement.
Consumer demand has been gradually improving in India, multiple consumer firms have said, as a sustained moderation in inflation and the government's income tax cuts increase appetite for spending.
Dabur's consolidated net profit rose 7% to 5.6 billion rupees ($60.87 million) for the quarter ended December 31. Analysts had expected, on average, 5.56 billion rupees, as per LSEG data.
Total revenue grew 6% to 35.59 billion rupees.
The company took a one-time hit of 150.5 million rupees due to the implementation of India's new labour codes, the biggest overhaul of workers' laws in decades.
($1 = 91.9960 Indian rupees)
(Reporting by Komal Salecha in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
Jan 29 (Reuters) - India's Dabur DABU.NS reported third-quarter profit largely in line with analysts' estimates on Thursday, as the demand boost from the country's consumption tax cuts offset the one-time charge from a labour code revision.
Sales of Dabur's honey and other products such as toothpaste, hair oils, and coconut water grew in the double digit percentage in the quarter, the company said in a business update earlier in the month.
The consumption tax cut implemented last year boosted demand for Dabur and the company expects the effect to continue into the coming quarters, as 60% of its portfolio that was taxed at rates of 12% and 18% are now taxed at 5%.
As demand improves and recent good and services tax cuts offer additional support, Dabur is well‑positioned for the coming quarters, CEO Mohit Malhotra said in a statement.
Consumer demand has been gradually improving in India, multiple consumer firms have said, as a sustained moderation in inflation and the government's income tax cuts increase appetite for spending.
Dabur's consolidated net profit rose 7% to 5.6 billion rupees ($60.87 million) for the quarter ended December 31. Analysts had expected, on average, 5.56 billion rupees, as per LSEG data.
Total revenue grew 6% to 35.59 billion rupees.
The company took a one-time hit of 150.5 million rupees due to the implementation of India's new labour codes, the biggest overhaul of workers' laws in decades.
($1 = 91.9960 Indian rupees)
(Reporting by Komal Salecha in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
MEDIA-India's Dabur May Rope in Hershey's Herjit Bhalla as its India Chief - Economic Times
- Source link: (https://bitl.to/5bQr)
- Note: Reuters has not verified this story and does not vouch for its accuracy
(Bengaluru newsroom)
(([email protected];))
- Source link: (https://bitl.to/5bQr)
- Note: Reuters has not verified this story and does not vouch for its accuracy
(Bengaluru newsroom)
(([email protected];))
India's Dabur falls on flagging mixed quarterly performance
** Dabur India DABU.NS falls 2.7% to 507 rupees
** Co expects mid-single-digit growth in Q3 consolidated revenue, with operating profit seen growing faster than revenue
** Says consumer sentiment improved in urban and rural areas after trade stabilisation; rural demand continued to outperform urban demand in Q3
** Centrum ("Buy"; PT: 625 rupees) says co flagged mixed performance despite uptick in demand due to muted performances in beverage, Chyawanprash portfolio
** Nomura ("Buy"; PT: 580 rupees) says good growth in Health and Personal Care Segment not enough to lift overall growth; sees consolidated sales rising 6% year-on-year
** Stock rated "Hold" on average; median PT is 535 rupees, per data compiled by LSEG
** DABU fell 0.67% in 2025
(Reporting by Mridula Kumar in Bengaluru)
(([email protected];))
** Dabur India DABU.NS falls 2.7% to 507 rupees
** Co expects mid-single-digit growth in Q3 consolidated revenue, with operating profit seen growing faster than revenue
** Says consumer sentiment improved in urban and rural areas after trade stabilisation; rural demand continued to outperform urban demand in Q3
** Centrum ("Buy"; PT: 625 rupees) says co flagged mixed performance despite uptick in demand due to muted performances in beverage, Chyawanprash portfolio
** Nomura ("Buy"; PT: 580 rupees) says good growth in Health and Personal Care Segment not enough to lift overall growth; sees consolidated sales rising 6% year-on-year
** Stock rated "Hold" on average; median PT is 535 rupees, per data compiled by LSEG
** DABU fell 0.67% in 2025
(Reporting by Mridula Kumar in Bengaluru)
(([email protected];))
India's Dabur expects third-quarter consolidated revenue to grow mid-single digits
Jan 5 (Reuters) - India's honey-to-packaged juice maker Dabur DABU.NS on Monday said it expects third-quarter consolidated revenue to rise in mid-single digits percent, with its operating profit expected to grow ahead of revenue.
(Reporting by Komal Salecha in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; 6354975591))
Jan 5 (Reuters) - India's honey-to-packaged juice maker Dabur DABU.NS on Monday said it expects third-quarter consolidated revenue to rise in mid-single digits percent, with its operating profit expected to grow ahead of revenue.
(Reporting by Komal Salecha in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; 6354975591))
Dabur Says LIC Increases Stake To 6.985% From 4.918%
Oct 24 (Reuters) - Dabur India Ltd DABU.NS:
LIC INCREASES STAKE TO 6.985% FROM 4.918%
Source text: ID:nBSE2ZyfF8
Further company coverage: DABU.NS
(([email protected];;))
Oct 24 (Reuters) - Dabur India Ltd DABU.NS:
LIC INCREASES STAKE TO 6.985% FROM 4.918%
Source text: ID:nBSE2ZyfF8
Further company coverage: DABU.NS
(([email protected];;))
Dabur India flags short term sales disruption in second quarter
Oct 7 (Reuters) - Indian honey-to-packaged juice maker Dabur DABU.NS said in a business update on Tuesday that it expects a short term moderation in sales during the second quarter of fiscal 2026, on account of a temporary sales disruption after the government's sweeping goods and services (GST) tax cuts.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Ronojoy Mazumdar)
(([email protected];))
Oct 7 (Reuters) - Indian honey-to-packaged juice maker Dabur DABU.NS said in a business update on Tuesday that it expects a short term moderation in sales during the second quarter of fiscal 2026, on account of a temporary sales disruption after the government's sweeping goods and services (GST) tax cuts.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Ronojoy Mazumdar)
(([email protected];))
Dabur India Gets Tax Demand Of 2.72 Billion Rupees With Penalty
Sept 24 (Reuters) - Dabur India Ltd DABU.NS:
DABUR INDIA - TAX DEMAND CONFIRMED AT 2.72 BILLION RUPEES WITH PENALTY
DABUR INDIA LTD - NO IMPACT ON COMPANY OPERATIONS DUE TO TAX ORDER
Source text: ID:nBSE9FChk8
Further company coverage: DABU.NS
(([email protected];;))
Sept 24 (Reuters) - Dabur India Ltd DABU.NS:
DABUR INDIA - TAX DEMAND CONFIRMED AT 2.72 BILLION RUPEES WITH PENALTY
DABUR INDIA LTD - NO IMPACT ON COMPANY OPERATIONS DUE TO TAX ORDER
Source text: ID:nBSE9FChk8
Further company coverage: DABU.NS
(([email protected];;))
Toothpaste becomes battleground as US-India tensions spill into company ads
Trump tariffs stoke anger in India over American brands
Dabur pushes nationalism to counter rivals in toothpaste market
Modi urges the use of 'Swadeshi' or Indian goods
Amul cartoons, Rediff ad emphasise 'Made in India' products
By Praveen Paramasivam
CHENNAI, Sept 5 (Reuters) - Dabur DABU.NS, Indian rival of Colgate-Palmolive, is making its toothpaste a test of nationalism by asking consumers to shun American brands, as companies intensify promotion of local goods amid worsening trade ties with the United States.
Prime Minister Narendra Modi on Thursday reiterated his call to use "Swadeshi", or made-in-India goods. Children should "make a list" of foreign-branded goods, Modi said, while teachers should push them to not use them.
U.S. President Donald Trump last week imposed tariffs of up to 50% on imported Indian goods, prompting Modi's supporters to start a WhatsApp campaign to boycott American brands including McDonald's MCD.N, Pepsi PEP.O and Apple AAPL.O.
Consumer goods company Dabur, valued at $11 billion, took out a front-page newspaper advertisement this week carrying photos of unbranded toothpaste packs that resemble Colgate packaging. Without naming its rival, the ad said India's favourite toothpaste brand was American, and Dabur was the "Swadeshi" choice.
"Born there, not here", it said, referring to the unnamed toothpaste, in a font styled with the red, white and blue of the American flag.
Dabur declined to comment on the advertisement, and Colgate did not respond to queries from Reuters.
Colgate CL.N has a 43% share of India's toothpaste market, followed by the Indian unit of Unilever ULVR.L, home to Pepsodent brand in the country. Dabur is in third place with a 17% share, according to Euromonitor data for 2024.
India's population of 1.4 billion is a major market for American consumer goods, often purchased from U.S. online retailer Amazon.com AMZN.O, and over the years the reach of U.S. brands has expanded deep into smaller towns.
The Dabur ad in the Times of India newspaper even carried a QR code that took consumers to a shopping link on the Amazon India website, which captures about a third of domestic online sales.
Karthik Srinivasan, a communications consultant, called the advertising strategies of Dabur and others "moment marketing".
"How can we gain from that sentiment at least for this week and next? That's literally what all these brands are doing," he said.
Others using a similar tactic included Amul, India's largest dairy, which has published cartoons featuring "Made in India" products on its social media accounts, with one animated ad showing its mascot holding an Indian flag and a slab of butter.
Indian e-mail provider Rediff, popular years ago before the rise of Yahoo and Google Mail, also took out a newspaper ad calling its service the "mail of India" that helps to keep customers' business intelligence local.
(Reporting by Praveen Paramasivam in Chennai; Editing by Aditya Kalra and Tom Hogue)
(([email protected]; +91 867-525-3569;))
Trump tariffs stoke anger in India over American brands
Dabur pushes nationalism to counter rivals in toothpaste market
Modi urges the use of 'Swadeshi' or Indian goods
Amul cartoons, Rediff ad emphasise 'Made in India' products
By Praveen Paramasivam
CHENNAI, Sept 5 (Reuters) - Dabur DABU.NS, Indian rival of Colgate-Palmolive, is making its toothpaste a test of nationalism by asking consumers to shun American brands, as companies intensify promotion of local goods amid worsening trade ties with the United States.
Prime Minister Narendra Modi on Thursday reiterated his call to use "Swadeshi", or made-in-India goods. Children should "make a list" of foreign-branded goods, Modi said, while teachers should push them to not use them.
U.S. President Donald Trump last week imposed tariffs of up to 50% on imported Indian goods, prompting Modi's supporters to start a WhatsApp campaign to boycott American brands including McDonald's MCD.N, Pepsi PEP.O and Apple AAPL.O.
Consumer goods company Dabur, valued at $11 billion, took out a front-page newspaper advertisement this week carrying photos of unbranded toothpaste packs that resemble Colgate packaging. Without naming its rival, the ad said India's favourite toothpaste brand was American, and Dabur was the "Swadeshi" choice.
"Born there, not here", it said, referring to the unnamed toothpaste, in a font styled with the red, white and blue of the American flag.
Dabur declined to comment on the advertisement, and Colgate did not respond to queries from Reuters.
Colgate CL.N has a 43% share of India's toothpaste market, followed by the Indian unit of Unilever ULVR.L, home to Pepsodent brand in the country. Dabur is in third place with a 17% share, according to Euromonitor data for 2024.
India's population of 1.4 billion is a major market for American consumer goods, often purchased from U.S. online retailer Amazon.com AMZN.O, and over the years the reach of U.S. brands has expanded deep into smaller towns.
The Dabur ad in the Times of India newspaper even carried a QR code that took consumers to a shopping link on the Amazon India website, which captures about a third of domestic online sales.
Karthik Srinivasan, a communications consultant, called the advertising strategies of Dabur and others "moment marketing".
"How can we gain from that sentiment at least for this week and next? That's literally what all these brands are doing," he said.
Others using a similar tactic included Amul, India's largest dairy, which has published cartoons featuring "Made in India" products on its social media accounts, with one animated ad showing its mascot holding an Indian flag and a slab of butter.
Indian e-mail provider Rediff, popular years ago before the rise of Yahoo and Google Mail, also took out a newspaper ad calling its service the "mail of India" that helps to keep customers' business intelligence local.
(Reporting by Praveen Paramasivam in Chennai; Editing by Aditya Kalra and Tom Hogue)
(([email protected]; +91 867-525-3569;))
QUOTES-Reactions after India cuts consumption tax on hundreds of items
Updates shares in paragraph 2, adds new quotes
Sept 4 (Reuters) - India late on Wednesday announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated goods and services tax structure to two rate slabs from four, with some exceptions for luxury and "sin" goods.
The benchmark BSE Sensex .BSESN and Nifty 50 .NSEI rose as much 1.1% on Thursday. By 11:55 IST, they pared some gains and were up about 0.5% each.
Here is how the industry has reacted so far:
ANISH SHAH, GROUP CEO & MD, MAHINDRA GROUP
"The next-generation GST reforms... mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system.
"At Mahindra, we view these reforms as transformative. They simplify compliance, expand affordability, and energise consumption, while enabling industry to invest with greater confidence."
SAURABH AGARWAL, PARTNER & AUTOMOTIVE TAX LEADER, EY INDIA
"The rationalization of GST rates on automotive vehicles and parts is a truly welcome and significant development. By making vehicles more affordable across all segments, this move will not only boost consumer spending but also simplify complex classification disputes that have long burdened the industry."
SAMIR SHAH, EXECUTIVE DIRECTOR & CFO, HDFC ERGO GENERAL INSURANCE COMPANY
"The GST Council decision to exempt individual health insurance from GST is a welcome development. This move aligns perfectly with the broader ambition of the regulator of 'Insurance for All by 2047,' providing a tangible step forward in that direction.
"While it is anticipated that there will be lowering of the premiums due to lowering of the taxes, we are yet to understand the extent of this reduction as this will also depend upon availability of the input tax credit, which will become clearer over the coming days."
NILESH SHAH, MANAGING DIRECTOR, KOTAK MAHINDRA ASSET MANAGEMENT CO
"The GST announcement lowers inflation, increases growth, boosts consumer sentiment, doesn't disturb the path of fiscal consolidation, improves ease of doing business and partially offers adverse effects of tariffs."
SHAILESH CHANDRA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURES
"This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian automotive sector. Making vehicles more affordable, particularly in the entry-level segment, these announcements will significantly benefit first-time buyers and middle-income families, enabling broader access to personal mobility."
C S VIGNESHWAR, PRESIDENT, FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS
"The 56th GST Council meeting marks a watershed moment for India's automobile retail industry. This is a decisive step that will boost affordability, spur demand, and make India's mobility ecosystem stronger and more inclusive.
"One area that may need earliest clarification is about levy and treatment of cess balances currently lying in dealers' books, so that there is no ambiguity during transition."
SANJEEV ASTHANA, CEO, PATANJALI FOODS LIMITED
"At Patanjali Foods, we are fully committed to passing on these benefits to our consumers. This initiative will not only enhance FMCG penetration across urban and rural India but also act as a catalyst for broader economic revival by lifting consumption and supporting allied sectors.
"Our categories such as ghee, soaps, biscuits, noodles, honey, and chyawanprash will benefit from this reduction."
RADHIKA RAO, SENIOR ECONOMIST AT DBS BANK
"Lower GST rates will be positive for growth in the second half of the year and FY27, besides improving operational efficiency and expanding the size of the formal economy."
SHRIPAL SHAH, MD & CEO, KOTAK SECURITIES
"The GST rate cuts come at the right time which is just ahead of the festive season and against the backdrop of U.S. tariff tiffs. Lower taxes on essentials, FMCG products, autos and cement will leave consumers with more money in hand.
"This should directly boost demand, help traders and businesses see higher volumes, and may even favourably impact next quarter's earnings. It also carries the potential to ease inflation. The key will be how quickly companies pass on the benefits to customers."
DEVARSH VAKIL, HEAD OF PRIME RESEARCH, HDFC SECURITIES
"The GST reforms represent a paradigm shift toward economic rationality, with rate reductions on essentials like dairy, medicines, and food directly benefiting consumers due to their inelastic nature.
"Combined with RBI rate cuts, FY26 income tax rebates, and moderating inflation, these reforms create multiple stimuli for consumption and economic growth."
SUDARSHAN VENU, CHAIRMAN, TVS MOTOR COMPANY
"The GST tax cuts are a major move by the government to further turbocharge growth. For our industry especially, it’s a welcome move as it will help two wheelers become more accessible and also help those looking to upgrade."
NEERAJ AKHOURY, PRESIDENT, CEMENT MANUFACTURERS' ASSOCIATION AND MANAGING DIRECTOR, SHREE CEMENT
"Bringing GST down to 18% corrects a long-standing anomaly, aligns cement with other core building materials, and enhances global competitiveness. As a key input for infrastructure and housing, fairer taxation is expected to boost consumption and support projects from affordable housing to large-scale infrastructure."
NITIN RAO, CEO, INCRED WEALTH
"History has shown that such measures add significantly to GDP growth and a repeat is expected.
"Positive this will play out, though a small concern remains wherein recent measures like the rate cuts + budgetary measures taken on reduced taxes have not created necessary consumption boosters. We will have to wait and see if this welcome third step reverses the consumption trend or there is a deeper problem around availability of money with consumers."
RAHUL SINGH, CIO-EQUITIES, TATA ASSET MANAGEMENT
"The GST rate rationalisation, following the income tax cuts and lower interest rates, is a serious effort to boost consumption and hence the overall economic growth outlook.
"This coupled with certain process reforms is also positive for SMEs (small and medium enterprises). While the direct beneficiaries include consumer, autos, cement, healthcare and insurance sectors, the second order beneficiaries in terms of growth will be retail banks & NBFCs (non-bank financial companies)."
RAJNEESH KUMAR, CHIEF CORPORATE AFFAIRS OFFICER, FLIPKART GROUP
"By lowering input costs for farmers, simplifying compliance for MSMEs (micro, small and medium enterprises), and enabling small sellers, artisans/weavers and smallholder farmers to seamlessly join e-commerce across states, these reforms will further strengthen India's growth engine.
"Timely implementation of these reforms ahead of the upcoming festival season will surely give a huge boost to consumption across categories, widen market access, and accelerate our collective journey towards a Viksit Bharat."
SHEETAL ARORA, CEO, MANKIND PHARMA
"The GST revisions go beyond tax rationalization, they represent a structural shift in how India is enabling healthcare access. By removing GST on lifesaving rare-disease and oncology therapies and reducing it on essential medicines and diagnostics, the government has signaled that affordability and innovation can go hand in hand."
AMIT PAITHANKAR, CEO OF WAAREE ENERGIES
"The recent GST rationalization reflects the government’s commitment to India’s clean energy transition. The reduction will lower project costs and accelerate the capacity addition needed to meet India’s clean energy targets. It also sends a strong signal to investors, improving the financial viability and attractiveness of the renewable energy sector."
(Reporting by Chandini Monnappa, Bharath Rajeswaran, Manvi Pant, Kashish Tandon, Meenakshi Maidas, Nandan Mandayam, Yagnoseni Das, Vivek Kumar M and Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)
(([email protected]; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))
Updates shares in paragraph 2, adds new quotes
Sept 4 (Reuters) - India late on Wednesday announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated goods and services tax structure to two rate slabs from four, with some exceptions for luxury and "sin" goods.
The benchmark BSE Sensex .BSESN and Nifty 50 .NSEI rose as much 1.1% on Thursday. By 11:55 IST, they pared some gains and were up about 0.5% each.
Here is how the industry has reacted so far:
ANISH SHAH, GROUP CEO & MD, MAHINDRA GROUP
"The next-generation GST reforms... mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system.
"At Mahindra, we view these reforms as transformative. They simplify compliance, expand affordability, and energise consumption, while enabling industry to invest with greater confidence."
SAURABH AGARWAL, PARTNER & AUTOMOTIVE TAX LEADER, EY INDIA
"The rationalization of GST rates on automotive vehicles and parts is a truly welcome and significant development. By making vehicles more affordable across all segments, this move will not only boost consumer spending but also simplify complex classification disputes that have long burdened the industry."
SAMIR SHAH, EXECUTIVE DIRECTOR & CFO, HDFC ERGO GENERAL INSURANCE COMPANY
"The GST Council decision to exempt individual health insurance from GST is a welcome development. This move aligns perfectly with the broader ambition of the regulator of 'Insurance for All by 2047,' providing a tangible step forward in that direction.
"While it is anticipated that there will be lowering of the premiums due to lowering of the taxes, we are yet to understand the extent of this reduction as this will also depend upon availability of the input tax credit, which will become clearer over the coming days."
NILESH SHAH, MANAGING DIRECTOR, KOTAK MAHINDRA ASSET MANAGEMENT CO
"The GST announcement lowers inflation, increases growth, boosts consumer sentiment, doesn't disturb the path of fiscal consolidation, improves ease of doing business and partially offers adverse effects of tariffs."
SHAILESH CHANDRA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURES
"This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian automotive sector. Making vehicles more affordable, particularly in the entry-level segment, these announcements will significantly benefit first-time buyers and middle-income families, enabling broader access to personal mobility."
C S VIGNESHWAR, PRESIDENT, FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS
"The 56th GST Council meeting marks a watershed moment for India's automobile retail industry. This is a decisive step that will boost affordability, spur demand, and make India's mobility ecosystem stronger and more inclusive.
"One area that may need earliest clarification is about levy and treatment of cess balances currently lying in dealers' books, so that there is no ambiguity during transition."
SANJEEV ASTHANA, CEO, PATANJALI FOODS LIMITED
"At Patanjali Foods, we are fully committed to passing on these benefits to our consumers. This initiative will not only enhance FMCG penetration across urban and rural India but also act as a catalyst for broader economic revival by lifting consumption and supporting allied sectors.
"Our categories such as ghee, soaps, biscuits, noodles, honey, and chyawanprash will benefit from this reduction."
RADHIKA RAO, SENIOR ECONOMIST AT DBS BANK
"Lower GST rates will be positive for growth in the second half of the year and FY27, besides improving operational efficiency and expanding the size of the formal economy."
SHRIPAL SHAH, MD & CEO, KOTAK SECURITIES
"The GST rate cuts come at the right time which is just ahead of the festive season and against the backdrop of U.S. tariff tiffs. Lower taxes on essentials, FMCG products, autos and cement will leave consumers with more money in hand.
"This should directly boost demand, help traders and businesses see higher volumes, and may even favourably impact next quarter's earnings. It also carries the potential to ease inflation. The key will be how quickly companies pass on the benefits to customers."
DEVARSH VAKIL, HEAD OF PRIME RESEARCH, HDFC SECURITIES
"The GST reforms represent a paradigm shift toward economic rationality, with rate reductions on essentials like dairy, medicines, and food directly benefiting consumers due to their inelastic nature.
"Combined with RBI rate cuts, FY26 income tax rebates, and moderating inflation, these reforms create multiple stimuli for consumption and economic growth."
SUDARSHAN VENU, CHAIRMAN, TVS MOTOR COMPANY
"The GST tax cuts are a major move by the government to further turbocharge growth. For our industry especially, it’s a welcome move as it will help two wheelers become more accessible and also help those looking to upgrade."
NEERAJ AKHOURY, PRESIDENT, CEMENT MANUFACTURERS' ASSOCIATION AND MANAGING DIRECTOR, SHREE CEMENT
"Bringing GST down to 18% corrects a long-standing anomaly, aligns cement with other core building materials, and enhances global competitiveness. As a key input for infrastructure and housing, fairer taxation is expected to boost consumption and support projects from affordable housing to large-scale infrastructure."
NITIN RAO, CEO, INCRED WEALTH
"History has shown that such measures add significantly to GDP growth and a repeat is expected.
"Positive this will play out, though a small concern remains wherein recent measures like the rate cuts + budgetary measures taken on reduced taxes have not created necessary consumption boosters. We will have to wait and see if this welcome third step reverses the consumption trend or there is a deeper problem around availability of money with consumers."
RAHUL SINGH, CIO-EQUITIES, TATA ASSET MANAGEMENT
"The GST rate rationalisation, following the income tax cuts and lower interest rates, is a serious effort to boost consumption and hence the overall economic growth outlook.
"This coupled with certain process reforms is also positive for SMEs (small and medium enterprises). While the direct beneficiaries include consumer, autos, cement, healthcare and insurance sectors, the second order beneficiaries in terms of growth will be retail banks & NBFCs (non-bank financial companies)."
RAJNEESH KUMAR, CHIEF CORPORATE AFFAIRS OFFICER, FLIPKART GROUP
"By lowering input costs for farmers, simplifying compliance for MSMEs (micro, small and medium enterprises), and enabling small sellers, artisans/weavers and smallholder farmers to seamlessly join e-commerce across states, these reforms will further strengthen India's growth engine.
"Timely implementation of these reforms ahead of the upcoming festival season will surely give a huge boost to consumption across categories, widen market access, and accelerate our collective journey towards a Viksit Bharat."
SHEETAL ARORA, CEO, MANKIND PHARMA
"The GST revisions go beyond tax rationalization, they represent a structural shift in how India is enabling healthcare access. By removing GST on lifesaving rare-disease and oncology therapies and reducing it on essential medicines and diagnostics, the government has signaled that affordability and innovation can go hand in hand."
AMIT PAITHANKAR, CEO OF WAAREE ENERGIES
"The recent GST rationalization reflects the government’s commitment to India’s clean energy transition. The reduction will lower project costs and accelerate the capacity addition needed to meet India’s clean energy targets. It also sends a strong signal to investors, improving the financial viability and attractiveness of the renewable energy sector."
(Reporting by Chandini Monnappa, Bharath Rajeswaran, Manvi Pant, Kashish Tandon, Meenakshi Maidas, Nandan Mandayam, Yagnoseni Das, Vivek Kumar M and Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)
(([email protected]; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))
Autos, consumer stocks lead surge in Indian markets on prospects of sweeping tax cuts
Rewrites throughout, updates stock moves
By Kashish Tandon and Chandini Monnappa
Aug 18 (Reuters) - Indian auto and consumer stocks rallied on Monday, with the auto index .NIFTYAUTO jumping nearly 5% to a 10-month high after the government's plans of sweeping tax cuts, including lower goods and services tax (GST) on small cars.
The government's plan to lower GST on small cars to 18% from 28%, among other changes, as part of tax reforms unveiled by Prime Minister Narendra Modi on Friday, is expected to spur demand and boost consumer spending.
The plans are likely to be announced by Diwali, a major, five-day Hindu festival in October and India's biggest shopping season as households traditionally splurge, leading to the country's consumption cycle peaking around the festival.
"These are strong tailwinds for the market with potential to take it higher," said VK Vijayakumar, chief investment strategist at Geojit Investments, calling the timing of the next major GST reforms a "big positive".
"Sectors like autos and cement, which are presently in the 28% tax slabs, are expected to benefit," he said.
Urban consumers have been tightening their belts in recent quarters, squeezed by high living costs and sluggish income growth. A cut in GST on small cars, the auto-market's most price-sensitive segment, could fire up festive season demand, giving middle-class buyers a break.
Auto stocks .NIFTYAUTO led sectoral gains on the Nifty 50 .NSEI index, and were set for their best day since June 5, 2024.
Maruti Suzuki MRTI.NS and Hyundai Motor India HYUN.NS jumped 8% and 9%, respectively, to a record high.
Additionally, the simpler two-rate structure - slabs of 5% and 18%, with the 12% and 28% slabs scrapped - would make a host of products cheaper, from butter and fruit juices to dry fruits, offering a lift to consumer goods firms and shoppers.
Consumption stocks such as Hindustan Unilever HLL.NS, Nestle India NEST.NS and Dabur DABU.NS gained between 4% and 7%, powering the FMCG index .NIFTYFMCG 1.8% higher.
Brokerages see potential GST cuts driving consumption boom across sectors https://reut.rs/4fCLOs2
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)
(([email protected]; 8800437922;))
Rewrites throughout, updates stock moves
By Kashish Tandon and Chandini Monnappa
Aug 18 (Reuters) - Indian auto and consumer stocks rallied on Monday, with the auto index .NIFTYAUTO jumping nearly 5% to a 10-month high after the government's plans of sweeping tax cuts, including lower goods and services tax (GST) on small cars.
The government's plan to lower GST on small cars to 18% from 28%, among other changes, as part of tax reforms unveiled by Prime Minister Narendra Modi on Friday, is expected to spur demand and boost consumer spending.
The plans are likely to be announced by Diwali, a major, five-day Hindu festival in October and India's biggest shopping season as households traditionally splurge, leading to the country's consumption cycle peaking around the festival.
"These are strong tailwinds for the market with potential to take it higher," said VK Vijayakumar, chief investment strategist at Geojit Investments, calling the timing of the next major GST reforms a "big positive".
"Sectors like autos and cement, which are presently in the 28% tax slabs, are expected to benefit," he said.
Urban consumers have been tightening their belts in recent quarters, squeezed by high living costs and sluggish income growth. A cut in GST on small cars, the auto-market's most price-sensitive segment, could fire up festive season demand, giving middle-class buyers a break.
Auto stocks .NIFTYAUTO led sectoral gains on the Nifty 50 .NSEI index, and were set for their best day since June 5, 2024.
Maruti Suzuki MRTI.NS and Hyundai Motor India HYUN.NS jumped 8% and 9%, respectively, to a record high.
Additionally, the simpler two-rate structure - slabs of 5% and 18%, with the 12% and 28% slabs scrapped - would make a host of products cheaper, from butter and fruit juices to dry fruits, offering a lift to consumer goods firms and shoppers.
Consumption stocks such as Hindustan Unilever HLL.NS, Nestle India NEST.NS and Dabur DABU.NS gained between 4% and 7%, powering the FMCG index .NIFTYFMCG 1.8% higher.
Brokerages see potential GST cuts driving consumption boom across sectors https://reut.rs/4fCLOs2
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)
(([email protected]; 8800437922;))
Dabur India beats profit estimates, forecasts higher full-year sales growth
Recasts paragraph 1, adds comments from earnings call in paragraphs 2, 8 & 9
By Ananta Agarwal
July 31 (Reuters) - Dabur India DABU.NS beat quarterly profit estimates on Thursday and forecast a faster sales growth for the rest of the year, as it expects a recovery from monsoon-induced weakness in its beverage business.
The honey-to-fruit juices seller expects a high single-digit sales growth for the full year, it said in a post-earnings call with analysts.
Dabur's fiscal 2025 revenue rose 3.6% in constant currency, partly due to a one-time inventory correction.
Indian consumer companies, including Dabur, have faced challenges from higher commodity costs and muted urban demand for several quarters.
A relatively cooler summer in parts of India, due to the early onset of monsoons, further weighed on the firm's revenue growth in the first quarter.
Consolidated revenue, which grew almost 2%, would have been 7% higher, if not for a decline in beverage sales, Dabur said.
However, it still posted a profit that was better than analysts' expectations, driven by healthy rural demand, price hikes and a wider distribution in rural areas.
Dabur also said that it has noticed some "green shoots" in urban demand, echoing early observations from companies across industries, from consumer conglomerate Hindustan Unilever HLL.NS to Asian Paints, a market leader in the segment.
Dabur could also initiate further price hikes or ramp up its cost-saving initiatives to offset cost inflation in the fiscal year, it said.
The company reported growth in categories such as its namesake honey, housed in the healthcare segment, and toothpastes, air fresheners, and hair care oils, which are part of the home and personal care segment.
Its consolidated net profit rose 3% to 5.14 billion rupees ($58.69 million), coming above analysts' expectations of 4.95 billion rupees.
Rival Hindustan Unilever HLL.NS also reported a profit growth, in part due to the ongoing recovery in rural sales.
($1 = 87.5850 Indian rupees)
(Reporting by Ananta Agarwal and Chandini Monnappa in Bengaluru; Editing by Harikrishnan Nair, Janane Venkatraman and Shailesh Kuber)
(([email protected];))
Recasts paragraph 1, adds comments from earnings call in paragraphs 2, 8 & 9
By Ananta Agarwal
July 31 (Reuters) - Dabur India DABU.NS beat quarterly profit estimates on Thursday and forecast a faster sales growth for the rest of the year, as it expects a recovery from monsoon-induced weakness in its beverage business.
The honey-to-fruit juices seller expects a high single-digit sales growth for the full year, it said in a post-earnings call with analysts.
Dabur's fiscal 2025 revenue rose 3.6% in constant currency, partly due to a one-time inventory correction.
Indian consumer companies, including Dabur, have faced challenges from higher commodity costs and muted urban demand for several quarters.
A relatively cooler summer in parts of India, due to the early onset of monsoons, further weighed on the firm's revenue growth in the first quarter.
Consolidated revenue, which grew almost 2%, would have been 7% higher, if not for a decline in beverage sales, Dabur said.
However, it still posted a profit that was better than analysts' expectations, driven by healthy rural demand, price hikes and a wider distribution in rural areas.
Dabur also said that it has noticed some "green shoots" in urban demand, echoing early observations from companies across industries, from consumer conglomerate Hindustan Unilever HLL.NS to Asian Paints, a market leader in the segment.
Dabur could also initiate further price hikes or ramp up its cost-saving initiatives to offset cost inflation in the fiscal year, it said.
The company reported growth in categories such as its namesake honey, housed in the healthcare segment, and toothpastes, air fresheners, and hair care oils, which are part of the home and personal care segment.
Its consolidated net profit rose 3% to 5.14 billion rupees ($58.69 million), coming above analysts' expectations of 4.95 billion rupees.
Rival Hindustan Unilever HLL.NS also reported a profit growth, in part due to the ongoing recovery in rural sales.
($1 = 87.5850 Indian rupees)
(Reporting by Ananta Agarwal and Chandini Monnappa in Bengaluru; Editing by Harikrishnan Nair, Janane Venkatraman and Shailesh Kuber)
(([email protected];))
Street View: Weak earnings growth for Dabur India to persist
** Dabur India DABU.NS expects Q1 operating profit growth to lag consol rev growth, which is expected in low single-digit pct range
** Post-close on Friday, consumer goods maker noted improving urban demand spurring volume uptick
** Shares up 3% to 513 rupees on Monday
UNDERPERFORMANCE CONTINUES
** Nomura ("buy", TP 550 rupees) says underperformance vs peers continues; believes both sales, vols down marginally
** "Despite having significant exposure to rural, and rural continuing to perform well for the industry, we note Dabur is not benefiting from the trend" - Nomura
** Morgan Stanley ("underweight", TP 396 rupees) says weak earnings growth seen continuing
** Adds, co's top-line growth largely in line, had estimated 1% growth
** Macquarie ("neutral", TP 480 rupees) says continued weakness in beverages "make us concerned about near-term growth rates"
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Dabur India DABU.NS expects Q1 operating profit growth to lag consol rev growth, which is expected in low single-digit pct range
** Post-close on Friday, consumer goods maker noted improving urban demand spurring volume uptick
** Shares up 3% to 513 rupees on Monday
UNDERPERFORMANCE CONTINUES
** Nomura ("buy", TP 550 rupees) says underperformance vs peers continues; believes both sales, vols down marginally
** "Despite having significant exposure to rural, and rural continuing to perform well for the industry, we note Dabur is not benefiting from the trend" - Nomura
** Morgan Stanley ("underweight", TP 396 rupees) says weak earnings growth seen continuing
** Adds, co's top-line growth largely in line, had estimated 1% growth
** Macquarie ("neutral", TP 480 rupees) says continued weakness in beverages "make us concerned about near-term growth rates"
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Dabur India Q1 Consolidated Revenue Expected To Grow In Low Single Digits
July 4 (Reuters) - Dabur India Ltd DABU.NS:
Q1 CONSOLIDATED REVENUE EXPECTED TO GROW IN LOW SINGLE DIGITS
Q1 OPERATING PROFIT GROWTH TO LAG REVENUE GROWTH
INTERNATIONAL BUSINESS EXPECTED TO POST DOUBLE-DIGIT GROWTH IN Q1
EXPECT REVENUE GROWTH TO REGAIN MOMENTUM AND TREND HIGHERINTHE COMING QUARTERS
INDIAN FMCG SECTOR SEES RECOVERY WITH URBAN VOLUME GROWTH
BEVERAGE PORTFOLIO WAS IMPACTED DURING QUARTER DUE TO UNSEASONAL RAINS AND SHORT SUMMER
Source text: ID:nBSE4S8tTY
Further company coverage: DABU.NS
(([email protected];;))
July 4 (Reuters) - Dabur India Ltd DABU.NS:
Q1 CONSOLIDATED REVENUE EXPECTED TO GROW IN LOW SINGLE DIGITS
Q1 OPERATING PROFIT GROWTH TO LAG REVENUE GROWTH
INTERNATIONAL BUSINESS EXPECTED TO POST DOUBLE-DIGIT GROWTH IN Q1
EXPECT REVENUE GROWTH TO REGAIN MOMENTUM AND TREND HIGHERINTHE COMING QUARTERS
INDIAN FMCG SECTOR SEES RECOVERY WITH URBAN VOLUME GROWTH
BEVERAGE PORTFOLIO WAS IMPACTED DURING QUARTER DUE TO UNSEASONAL RAINS AND SHORT SUMMER
Source text: ID:nBSE4S8tTY
Further company coverage: DABU.NS
(([email protected];;))
GS lists Trent, Titan, Dabur among beneficiaries of reported India tax cut plan
** India's Trent TREN.NS, Titan TITN.NS, Dabur DABU.NS are among companies that will benefit from reported indirect tax cut plan, says Goldman Sachs
** Broadcaster India Today reported, citing sources, that the government plans to cut 12% GST on certain items to 5% or eliminate the 12% tax slab altogether
** GST council did not immediately respond to Reuters' request for comment
** GST is the abbreviation for Goods and Services Tax, an indirect tax implemented in 2017
** 12% GST applies on apparel priced above 1,000 Indian rupees ($11.7), footwear priced below $11.7, confectionery, fruit drinks, jam, toothpowder and eyewear, among others - GS
** Brokerage also adds Bata India BATA.NS, Nestle India NEST.NS in beneficiary list
** Says reported tax cut plan could help improve consumer demand for branded products, potentially accelerating volume-led growth
** NEST up 0.5%, DABU rises 0.4%; TREN, TITN and BATA down 0.8%, 0.2% and 0.15% respectively
($1 = 85.6820 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** India's Trent TREN.NS, Titan TITN.NS, Dabur DABU.NS are among companies that will benefit from reported indirect tax cut plan, says Goldman Sachs
** Broadcaster India Today reported, citing sources, that the government plans to cut 12% GST on certain items to 5% or eliminate the 12% tax slab altogether
** GST council did not immediately respond to Reuters' request for comment
** GST is the abbreviation for Goods and Services Tax, an indirect tax implemented in 2017
** 12% GST applies on apparel priced above 1,000 Indian rupees ($11.7), footwear priced below $11.7, confectionery, fruit drinks, jam, toothpowder and eyewear, among others - GS
** Brokerage also adds Bata India BATA.NS, Nestle India NEST.NS in beneficiary list
** Says reported tax cut plan could help improve consumer demand for branded products, potentially accelerating volume-led growth
** NEST up 0.5%, DABU rises 0.4%; TREN, TITN and BATA down 0.8%, 0.2% and 0.15% respectively
($1 = 85.6820 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Colgate India, Dabur rise while ITC, Godfrey fall on media reports of GST changes
Updates
** Consumer staple producers Colgate-Palmolive India COLG.NS and Dabur DABU.NS close 1% higher
** Indian government considering eliminating the 12% goods and services tax slab and reclassifying many items taxed at that bracket into the lower 5% bracket, NDTV reports
** Restructuring would target items such as toothpastes, umbrellas, sewing machines, kitchen utensils, report says
** Meanwhile, cigarette makers ITC ITC.NS and Godfrey Phillips GDFR.NS close 0.5% and 0.3% down, respectively
** NDTV reports separately that GST on cigarettes, carbonated drinks and high end cars may go up
** A proposal to replace compensation cess with health and green cess is under consideration, report adds
** YTD, COLG shares down ~9% while Dabur down 3.8%
(Reporting by Ananta Agarwal in Bengaluru)
Updates
** Consumer staple producers Colgate-Palmolive India COLG.NS and Dabur DABU.NS close 1% higher
** Indian government considering eliminating the 12% goods and services tax slab and reclassifying many items taxed at that bracket into the lower 5% bracket, NDTV reports
** Restructuring would target items such as toothpastes, umbrellas, sewing machines, kitchen utensils, report says
** Meanwhile, cigarette makers ITC ITC.NS and Godfrey Phillips GDFR.NS close 0.5% and 0.3% down, respectively
** NDTV reports separately that GST on cigarettes, carbonated drinks and high end cars may go up
** A proposal to replace compensation cess with health and green cess is under consideration, report adds
** YTD, COLG shares down ~9% while Dabur down 3.8%
(Reporting by Ananta Agarwal in Bengaluru)
Dabur Approved Scheme Of Amalgamation Of Sesa Care With Co
May 26 (Reuters) - Dabur India Ltd DABU.NS:
DABUR - APPROVED SCHEME OF AMALGAMATION OF SESA CARE WITH CO
Source text: [ID:]
Further company coverage: DABU.NS
(([email protected];))
May 26 (Reuters) - Dabur India Ltd DABU.NS:
DABUR - APPROVED SCHEME OF AMALGAMATION OF SESA CARE WITH CO
Source text: [ID:]
Further company coverage: DABU.NS
(([email protected];))
Dabur India falls after quarterly profit drop
** Shares of Dabur India DABU.NS fall as much as 4.4% to 461.10 rupees
** Consumer goods maker's Q4 consol profit fell 8.4% Y/Y to 3.2 bln rupees ($37.8 mln); revenue rose 0.6%
** "We expect consumer demand in India to recover progressively in the coming quarters, both in urban and rural markets," DABU's CEO Mohit Malhotra said
** Co sees high-single-digit FY26 sales growth aided by gradual recovery and flow-through of a 3.5%-4% price hike taken in Q4, Macquarie says
** Jefferies cuts PT to 590 rupees from 660 rupees; Nomura cuts PT to 550 rupees from 625 rupees
** DABU down ~6% YTD
($1 = 84.5940 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of Dabur India DABU.NS fall as much as 4.4% to 461.10 rupees
** Consumer goods maker's Q4 consol profit fell 8.4% Y/Y to 3.2 bln rupees ($37.8 mln); revenue rose 0.6%
** "We expect consumer demand in India to recover progressively in the coming quarters, both in urban and rural markets," DABU's CEO Mohit Malhotra said
** Co sees high-single-digit FY26 sales growth aided by gradual recovery and flow-through of a 3.5%-4% price hike taken in Q4, Macquarie says
** Jefferies cuts PT to 590 rupees from 660 rupees; Nomura cuts PT to 550 rupees from 625 rupees
** DABU down ~6% YTD
($1 = 84.5940 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
DIARY-India economic, corporate events on May 7
BENGALURU, May 7 (Reuters) - Diary of India economic, corporate events on May 7
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
07-May-2025 | NTS | APLA.NS | APL Apollo Tubes Ltd | Q4 2025 APL Apollo Tubes Ltd Earnings Release |
07-May-2025 | NTS | BLUS.NS | Blue Star Ltd | Q4 2025 Blue Star Ltd Earnings Release |
07-May-2025 | NTS | COAL.NS | Coal India Ltd | Q4 2025 Coal India Ltd Earnings Release |
07-May-2025 | NTS | DABU.NS | Dabur India Ltd | Full Year 2025 Dabur India Ltd Earnings Release |
07-May-2025 | NTS | MRF.NS | MRF Ltd | Q4 2025 MRF Ltd Earnings Release |
07-May-2025 | NTS | PNBK.NS | Punjab National Bank | Q4 2025 Punjab National Bank Earnings Release |
07-May-2025 | NTS | ROUT.NS | Route Mobile Ltd | Q4 2025 Route Mobile Ltd Earnings Release |
07-May-2025 | NTS | SAPI.NS | Sapphire Foods India Ltd | Q4 2025 Sapphire Foods India Ltd Earnings Release |
07-May-2025 | NTS | SOFT.NS | Sonata Software Ltd | Q4 2025 Sonata Software Ltd Earnings Release |
07-May-2025 | NTS | TTCH.NS | Tata Chemicals Ltd | Q4 2025 Tata Chemicals Ltd Earnings Release |
07-May-2025 | NTS | UBBW.NS | United Breweries Ltd | Q4 2025 United Breweries Ltd Earnings Release |
07-May-2025 | NTS | VOLT.NS | Voltas Ltd | Q4 2025 Voltas Ltd Earnings Release |
NTS - 'No time scheduled'
(Compiled by Bengaluru Newsroom)
BENGALURU, May 7 (Reuters) - Diary of India economic, corporate events on May 7
ECONOMIC, CORPORATE .BSE500 EVENTS:
Start Date | Start Time | RIC | Company Name | Event Name |
07-May-2025 | NTS | APLA.NS | APL Apollo Tubes Ltd | Q4 2025 APL Apollo Tubes Ltd Earnings Release |
07-May-2025 | NTS | BLUS.NS | Blue Star Ltd | Q4 2025 Blue Star Ltd Earnings Release |
07-May-2025 | NTS | COAL.NS | Coal India Ltd | Q4 2025 Coal India Ltd Earnings Release |
07-May-2025 | NTS | DABU.NS | Dabur India Ltd | Full Year 2025 Dabur India Ltd Earnings Release |
07-May-2025 | NTS | MRF.NS | MRF Ltd | Q4 2025 MRF Ltd Earnings Release |
07-May-2025 | NTS | PNBK.NS | Punjab National Bank | Q4 2025 Punjab National Bank Earnings Release |
07-May-2025 | NTS | ROUT.NS | Route Mobile Ltd | Q4 2025 Route Mobile Ltd Earnings Release |
07-May-2025 | NTS | SAPI.NS | Sapphire Foods India Ltd | Q4 2025 Sapphire Foods India Ltd Earnings Release |
07-May-2025 | NTS | SOFT.NS | Sonata Software Ltd | Q4 2025 Sonata Software Ltd Earnings Release |
07-May-2025 | NTS | TTCH.NS | Tata Chemicals Ltd | Q4 2025 Tata Chemicals Ltd Earnings Release |
07-May-2025 | NTS | UBBW.NS | United Breweries Ltd | Q4 2025 United Breweries Ltd Earnings Release |
07-May-2025 | NTS | VOLT.NS | Voltas Ltd | Q4 2025 Voltas Ltd Earnings Release |
NTS - 'No time scheduled'
(Compiled by Bengaluru Newsroom)
Dabur falls after flagging weak fourth-quarter India business growth
** Shares of Dabur India DABU.NS fall 7.2% to 460.15 rupees, heads for fourth straight session of losses
** Consumer goods major flagged a drop in India FMCG business growth due to "delayed and truncated winters and a slowdown in urban markets"
** Consolidated revenue expected to be flattish during the quarter
** Expects Q4 operating profit margin to contract by around 150-175 basis points y/y
** Emkay Global cuts PT for DABU to 450 rupees - 9.3% below previous close - from 500 rupees; keeps "reduce" rating
** Emkay sees need for aligning with evolving consumption trend for topline recovery
** DABU down ~9% so far in 2025
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of Dabur India DABU.NS fall 7.2% to 460.15 rupees, heads for fourth straight session of losses
** Consumer goods major flagged a drop in India FMCG business growth due to "delayed and truncated winters and a slowdown in urban markets"
** Consolidated revenue expected to be flattish during the quarter
** Expects Q4 operating profit margin to contract by around 150-175 basis points y/y
** Emkay Global cuts PT for DABU to 450 rupees - 9.3% below previous close - from 500 rupees; keeps "reduce" rating
** Emkay sees need for aligning with evolving consumption trend for topline recovery
** DABU down ~9% so far in 2025
(Reporting by Vijay Malkar)
(([email protected];))
Dabur India Says Income Tax Authority Raised Demand Of 1.1 Bln Rupees
April 1 (Reuters) - Dabur India Ltd DABU.NS:
INCOME TAX AUTHORITY RAISED DEMAND OF 1.10 BILLION RUPEES
Further company coverage: DABU.NS
(([email protected];;))
April 1 (Reuters) - Dabur India Ltd DABU.NS:
INCOME TAX AUTHORITY RAISED DEMAND OF 1.10 BILLION RUPEES
Further company coverage: DABU.NS
(([email protected];;))
India's Religare Enterprises seeks governance review, funding from Burman family
March 17 (Reuters) - India's Religare Enterprises RELG.NS on Monday said its board is seeking a governance review of the company and its units, and has also approached the billionaire Burman family for funding support after they took control of the company last month.
The Burman family, who founded and control consumer goods conglomerate Dabur India DABU.NS, acquired control of the financial services provider in February after a 17-month takeover battle.
The objective is to review past operating practices, suggest improvements and to identify any potential instances of misconduct by certain current and/or former employees of Religare and its units, the company said in an exchange filing.
Religare also said it observed a "cash-flow gap" over the next few months and has decided to approach the Burmans for immediate funding support to sustain the operations of the company.
The company did not specify details regarding the extent of the funding.
Previously, Religare, under former executive chairperson Rashmi Saluja, had sought to prevent the Burmans from raising their stake in the company. Saluja was ousted from the board in February as her reappointment did not go through.
(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)
(([email protected]; +91 7982114624;))
March 17 (Reuters) - India's Religare Enterprises RELG.NS on Monday said its board is seeking a governance review of the company and its units, and has also approached the billionaire Burman family for funding support after they took control of the company last month.
The Burman family, who founded and control consumer goods conglomerate Dabur India DABU.NS, acquired control of the financial services provider in February after a 17-month takeover battle.
The objective is to review past operating practices, suggest improvements and to identify any potential instances of misconduct by certain current and/or former employees of Religare and its units, the company said in an exchange filing.
Religare also said it observed a "cash-flow gap" over the next few months and has decided to approach the Burmans for immediate funding support to sustain the operations of the company.
The company did not specify details regarding the extent of the funding.
Previously, Religare, under former executive chairperson Rashmi Saluja, had sought to prevent the Burmans from raising their stake in the company. Saluja was ousted from the board in February as her reappointment did not go through.
(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)
(([email protected]; +91 7982114624;))
Rural demand, price hikes power India consumer goods sector growth, NielsenIQ says
Feb 6 (Reuters) - Solid demand in rural areas, as well as higher prices of staples including edible oil and wheat flour, helped the consumer goods sector report a 10.6% sales growth in the December quarter, market researcher NielsenIQ said on Thursday.
India's rural areas - which account for just over a third of consumer goods sales - have proven a bright spot for an industry struggling with an inflation-led spending slowdown in large cities.
"Rural markets (continued) to lead the charge, outpacing urban consumption (during the December quarter)," Roosevelt Dsouza, head of customer success for consumer goods at NielsenIQ, said in a statement.
Sales volume jumped 9.9% in rural areas in the December quarter, up from 5.7% in the previous quarter - double the 5% increase in urban centers, NielsenIQ said. But it added urban pockets also improved from the September quarter's 2.6% growth.
Rural areas have outperformed urban locations for the last four quarters, benefiting from income support schemes rolled out by several Indian states, while slowing salary increases in cities have squeezed consumer spending.
In the October-December quarter, overall volume rose by 7.1% - the highest in over a year - driven by demand for laundry products and edible oil, even as prices rose by 3.3%, according to NielsenIQ.
Dabur India DABU.NS and Hindustan Unilever HLL.NS reported a higher December-quarter profit on recovering rural demand.
However, large consumer goods makers, with topline exceeding 50 billion rupees ($571.2 million) are also facing stiff competition from smaller rivals, whose sales increased roughly twice as fast during the festive quarter, NielsenIQ said.
Consumer goods makers have also raised product prices to counter price increases in commodities such as copra and cocoa, with cooking oil maker Adani Wilmar ADAW.NS and Hindustan Unilever warning of further hikes.
Indians also preferred smaller product packs during the quarter, NielsenIQ said, echoing comments from Hindustan Unilever.
($1 = 87.5400 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai; Editing by Eileen Soreng)
(([email protected]; +91 867-525-3569;))
Feb 6 (Reuters) - Solid demand in rural areas, as well as higher prices of staples including edible oil and wheat flour, helped the consumer goods sector report a 10.6% sales growth in the December quarter, market researcher NielsenIQ said on Thursday.
India's rural areas - which account for just over a third of consumer goods sales - have proven a bright spot for an industry struggling with an inflation-led spending slowdown in large cities.
"Rural markets (continued) to lead the charge, outpacing urban consumption (during the December quarter)," Roosevelt Dsouza, head of customer success for consumer goods at NielsenIQ, said in a statement.
Sales volume jumped 9.9% in rural areas in the December quarter, up from 5.7% in the previous quarter - double the 5% increase in urban centers, NielsenIQ said. But it added urban pockets also improved from the September quarter's 2.6% growth.
Rural areas have outperformed urban locations for the last four quarters, benefiting from income support schemes rolled out by several Indian states, while slowing salary increases in cities have squeezed consumer spending.
In the October-December quarter, overall volume rose by 7.1% - the highest in over a year - driven by demand for laundry products and edible oil, even as prices rose by 3.3%, according to NielsenIQ.
Dabur India DABU.NS and Hindustan Unilever HLL.NS reported a higher December-quarter profit on recovering rural demand.
However, large consumer goods makers, with topline exceeding 50 billion rupees ($571.2 million) are also facing stiff competition from smaller rivals, whose sales increased roughly twice as fast during the festive quarter, NielsenIQ said.
Consumer goods makers have also raised product prices to counter price increases in commodities such as copra and cocoa, with cooking oil maker Adani Wilmar ADAW.NS and Hindustan Unilever warning of further hikes.
Indians also preferred smaller product packs during the quarter, NielsenIQ said, echoing comments from Hindustan Unilever.
($1 = 87.5400 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai; Editing by Eileen Soreng)
(([email protected]; +91 867-525-3569;))
Dabur India beats Q3 profit estimates on sustained rural demand
Jan 30 (Reuters) - Consumer goods maker Dabur India DABU.NS reported third-quarter profit above estimates on Thursday, driven by continued demand in its core rural market.
Shares of the company closed 3% higher after the results.
Dabur's consolidated profit rose 1.6% year-on-year to 5.22 billion rupees ($60.29 million) for the three months ended Dec. 31.
Analysts, on average, expected a profit of 5.15 billion rupees, according to data compiled by LSEG.
A slew of festivals celebrated by Indians during the reporting quarter contributed to higher rural consumption, although a slowdown in urban consumption remained an overhang on growth.
Dabur's rural growth outpaced urban markets by nearly 140 basis points, CEO Mohit Malhotra said in a press release.
The company noted that rural demand consistently outperformed urban markets for the fourth consecutive quarter, supported by favourable monsoons and government welfare initiatives.
Rural markets contribute nearly half of Dabur’s total revenue.
Dabur, known for its "Real" brand of fruit juices, reported revenue from operations grew 3% to 33.55 billion rupees, just short of analysts' estimate of 33.61 billion rupees.
Revenue from its consumer care division, which contributes 85% to the total revenue, increased 4%.
Consumer goods manufacturers have been grappling with rising raw material costs and weaker consumer demand amid persistently high inflation.
Dabur partially mitigated inflationary pressures by hiking prices in some segments, the company had said in its quarterly update.
Dabur's larger peer Hindustan Unilever HLL.NS, which gets 60% of its revenue from urban markets, reported a 20 bps drop in third-quarter core profit margin earlier this week, citing subdued urban demand.
($1 = 86.5770 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Varun H K)
(([email protected];))
Jan 30 (Reuters) - Consumer goods maker Dabur India DABU.NS reported third-quarter profit above estimates on Thursday, driven by continued demand in its core rural market.
Shares of the company closed 3% higher after the results.
Dabur's consolidated profit rose 1.6% year-on-year to 5.22 billion rupees ($60.29 million) for the three months ended Dec. 31.
Analysts, on average, expected a profit of 5.15 billion rupees, according to data compiled by LSEG.
A slew of festivals celebrated by Indians during the reporting quarter contributed to higher rural consumption, although a slowdown in urban consumption remained an overhang on growth.
Dabur's rural growth outpaced urban markets by nearly 140 basis points, CEO Mohit Malhotra said in a press release.
The company noted that rural demand consistently outperformed urban markets for the fourth consecutive quarter, supported by favourable monsoons and government welfare initiatives.
Rural markets contribute nearly half of Dabur’s total revenue.
Dabur, known for its "Real" brand of fruit juices, reported revenue from operations grew 3% to 33.55 billion rupees, just short of analysts' estimate of 33.61 billion rupees.
Revenue from its consumer care division, which contributes 85% to the total revenue, increased 4%.
Consumer goods manufacturers have been grappling with rising raw material costs and weaker consumer demand amid persistently high inflation.
Dabur partially mitigated inflationary pressures by hiking prices in some segments, the company had said in its quarterly update.
Dabur's larger peer Hindustan Unilever HLL.NS, which gets 60% of its revenue from urban markets, reported a 20 bps drop in third-quarter core profit margin earlier this week, citing subdued urban demand.
($1 = 86.5770 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Varun H K)
(([email protected];))
India's Religare says US businessman makes competing offer for stake
By Aditya Kalra
NEW DELHI, Jan 25 (Reuters) - India's Religare Enterprises RELG.NS said a U.S. businessman has made a proposal to acquire a 26% stake in it, the latest twist in the battle for control of the financial services company which has rejected another bid as being priced too low.
The Indian billionaire Burman family, which has founded and controls consumer goods conglomerate Dabur India DABU.NS, raised its stake in Religare to nearly 25% in September 2023, triggering a so-called open offer to buy more shares.
Through the open offer process, which starts on Jan. 27, the Burmans plan to buy around 26% more of Religare to bolster their presence in India's rapidly growing financial services sector, but Religare's independent directors flagged this week the offer price of 235 rupees per share was too low.
In a stock exchange disclosure late on Friday, Religare shared a letter from U.S. entrepreneur Digvijay "Danny" Gaekwad's firm requesting permission from Indian market regulator SEBI to make an open offer of 275 rupees per share for the Indian company, a 17% premium to the current offer.
A representative of the Burman family, Mohit Burman, and the market regulator SEBI did not immediately respond to requests for comment on Saturday. Florida-based Gaekwad did not immediately respond to a Reuters' email seeking comment outside of normal U.S. business hours.
Religare shares closed at 249.40 rupees on Friday, giving it a market value of 81.83 billion rupees ($949.30 million).
The Burmans, if they win control of Religare, will find themselves pitted against other Indian billionaire families in the financial services business, including Mukesh Ambani's Jio Financial Services JIOF.NS and family-controlled Bajaj Finance BJFN.NS.
But the Burmans' Religare bid has faced regulatory and legal challenges.
Earlier this week, Religare disclosed that a minority shareholder had approached the Delhi High Court, and was seeking to stop Burmans' open offer bid.
Legal papers show that the shareholder holds 500 shares in Religare, and the court on Tuesday issued a notice to Burmans and SEBI and said any subsequent action - such as an open offer - "shall be subject to the outcome" of the lawsuit.
($1 = 86.2000 Indian rupees)
(Reporting by Aditya Kalra and Siddhi Nayak; Editing by Muralikumar Anantharaman)
((Email: [email protected]; X: @adityakalra;))
By Aditya Kalra
NEW DELHI, Jan 25 (Reuters) - India's Religare Enterprises RELG.NS said a U.S. businessman has made a proposal to acquire a 26% stake in it, the latest twist in the battle for control of the financial services company which has rejected another bid as being priced too low.
The Indian billionaire Burman family, which has founded and controls consumer goods conglomerate Dabur India DABU.NS, raised its stake in Religare to nearly 25% in September 2023, triggering a so-called open offer to buy more shares.
Through the open offer process, which starts on Jan. 27, the Burmans plan to buy around 26% more of Religare to bolster their presence in India's rapidly growing financial services sector, but Religare's independent directors flagged this week the offer price of 235 rupees per share was too low.
In a stock exchange disclosure late on Friday, Religare shared a letter from U.S. entrepreneur Digvijay "Danny" Gaekwad's firm requesting permission from Indian market regulator SEBI to make an open offer of 275 rupees per share for the Indian company, a 17% premium to the current offer.
A representative of the Burman family, Mohit Burman, and the market regulator SEBI did not immediately respond to requests for comment on Saturday. Florida-based Gaekwad did not immediately respond to a Reuters' email seeking comment outside of normal U.S. business hours.
Religare shares closed at 249.40 rupees on Friday, giving it a market value of 81.83 billion rupees ($949.30 million).
The Burmans, if they win control of Religare, will find themselves pitted against other Indian billionaire families in the financial services business, including Mukesh Ambani's Jio Financial Services JIOF.NS and family-controlled Bajaj Finance BJFN.NS.
But the Burmans' Religare bid has faced regulatory and legal challenges.
Earlier this week, Religare disclosed that a minority shareholder had approached the Delhi High Court, and was seeking to stop Burmans' open offer bid.
Legal papers show that the shareholder holds 500 shares in Religare, and the court on Tuesday issued a notice to Burmans and SEBI and said any subsequent action - such as an open offer - "shall be subject to the outcome" of the lawsuit.
($1 = 86.2000 Indian rupees)
(Reporting by Aditya Kalra and Siddhi Nayak; Editing by Muralikumar Anantharaman)
((Email: [email protected]; X: @adityakalra;))
Dabur India Receives Demand Order From Additional Commissioner, CGST & CX, Kolkata
Jan 13 (Reuters) - Dabur India Ltd DABU.NS:
RECEIVES DEMAND ORDER FROM ADDITIONAL COMMISSIONER, CGST & CX, KOLKATA
ORDER DEMANDS TOTAL OF 34.8 MILLION RUPEES
Source text: ID:nBSE91Zb95
Further company coverage: DABU.NS
(([email protected];;))
Jan 13 (Reuters) - Dabur India Ltd DABU.NS:
RECEIVES DEMAND ORDER FROM ADDITIONAL COMMISSIONER, CGST & CX, KOLKATA
ORDER DEMANDS TOTAL OF 34.8 MILLION RUPEES
Source text: ID:nBSE91Zb95
Further company coverage: DABU.NS
(([email protected];;))
Dabur India falls on estimated Q3 revenue miss vs estimates
** Shares of Dabur India DABU.NS down 3%, set to fall for the first session in five
** Co estimates Q3 rev growth in low single-digit pct range vs analysts avg est of 4.8%, per LSEG data
** Estimates operating profit was flat
** BOBCAPS expects that to translate to a 1% rev shortfall and 2% operating income miss vs consensus estimates
** Stock among top pct losers on the Nifty FMCG index .NIFTYFMCG, which is down 0.3% on the day
** At least 3 of 38 covering analysts cut their rating, per LSEG data; avg rating is equivalent of "buy"
** CLSA flags slower-than-expected recovery, sharp rise in input costs, increasing competition as key risks; keeps "hold"
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of Dabur India DABU.NS down 3%, set to fall for the first session in five
** Co estimates Q3 rev growth in low single-digit pct range vs analysts avg est of 4.8%, per LSEG data
** Estimates operating profit was flat
** BOBCAPS expects that to translate to a 1% rev shortfall and 2% operating income miss vs consensus estimates
** Stock among top pct losers on the Nifty FMCG index .NIFTYFMCG, which is down 0.3% on the day
** At least 3 of 38 covering analysts cut their rating, per LSEG data; avg rating is equivalent of "buy"
** CLSA flags slower-than-expected recovery, sharp rise in input costs, increasing competition as key risks; keeps "hold"
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
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What does Dabur India do?
Dabur India is the largest Ayurvedic company in India and worldwide, and it has a repertoire of products based on the principles of Ayurveda for health and wellness, everyday personal care and value-added foods. It is a trusted name across the globe with the brand being synonymous with health, wellness, and natural care. As one of the world’s largest Ayurvedic and Natural Health Care companies, Dabur continues to resonate with consumers across generations and geographies.
Who are the competitors of Dabur India?
Dabur India major competitors are Godrej Consumer Prod, P&G Hygiene, Varun Beverages, Britannia Inds, Jyothy Labs, Hindustan Foods, Mrs.Bectors Food. Market Cap of Dabur India is ₹72,792 Crs. While the median market cap of its peers are ₹30,270 Crs.
Is Dabur India financially stable compared to its competitors?
Dabur India seems to be less financially stable compared to its competitors. Altman Z score of Dabur India is 10.25 and is ranked 6 out of its 8 competitors.
Does Dabur India pay decent dividends?
The company seems to pay a good stable dividend. Dabur India latest dividend payout ratio is 80.21% and 3yr average dividend payout ratio is 62.36%
How has Dabur India allocated its funds?
Companies resources are allocated to majorly unproductive assets like Inventory
How strong is Dabur India balance sheet?
Balance sheet of Dabur India is strong. But short term working capital might become an issue for this company.
Is the profitablity of Dabur India improving?
The profit is oscillating. The profit of Dabur India is ₹1,820 Crs for TTM, ₹1,768 Crs for Mar 2025 and ₹1,843 Crs for Mar 2024.
Is the debt of Dabur India increasing or decreasing?
Yes, The net debt of Dabur India is increasing. Latest net debt of Dabur India is ₹430 Crs as of Sep-25. This is greater than Mar-25 when it was -₹405.85 Crs.
Is Dabur India stock expensive?
Dabur India is not expensive. Latest PE of Dabur India is 39.88, while 3 year average PE is 54.1. Also latest EV/EBITDA of Dabur India is 30.64 while 3yr average is 42.29.
Has the share price of Dabur India grown faster than its competition?
Dabur India has given lower returns compared to its competitors. Dabur India has grown at ~-1.45% over the last 5yrs while peers have grown at a median rate of 10.9%
Is the promoter bullish about Dabur India?
Promoters seem to be bullish about the company. Latest quarter promoter holding is 66.23% and last quarter promoter holding is 66.22%.
Are mutual funds buying/selling Dabur India?
The mutual fund holding of Dabur India is decreasing. The current mutual fund holding in Dabur India is 7.28% while previous quarter holding is 8.04%.