DABUR

April 3 (Reuters) - Dabur India Ltd DABU.NS:

• INDIA FMCG BUSINESS WITNESSED SEQUENTIAL RECOVERY IN DEMAND AND IS LIKELY TO RECORD HIGH-SINGLE DIGIT GROWTH IN Q4

• HOME & PERSONAL CARE BUSINESS LIKELY TO GROW IN MID-TEENS IN Q4 FY2025-26

• DABUMIDDLE EAST BUSINESS WAS IMPACTED ON ACCOUNT OF US-ISRAEL- IRAN CONFLICT

• EXPECT OUR INTERNATIONAL BUSINESS TO RECORD LOW-SINGLE DIGIT GROWTH IN INR TERMS

• EXPECT Q4 CONSOLIDATED REVENUES TO GROW IN MID-SINGLE DIGITS WITH OPERATING PROFIT GROWING AHEAD OF TOPLINE

• GOING FORWARD, ANTICIPATE PROGRESSIVE RECOVERY IN DOMESTIC DEMAND, DRIVEN BY IMPROVING CONSUMPTION TRENDS

Source text: ID:nBSEYm7RR

Further company coverage: DABU.NS

((Reuters.Briefs@thomsonreuters.com;))

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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 ira.dugal@thomsonreuters.com

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.

(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)

((Ira.Dugal@thomsonreuters.com; +91-9833024892;))

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

((Reuters.Briefs@thomsonreuters.com;;))

Feb 17 (Reuters) - Dabur India Ltd DABU.NS:

• DABUR - MOHIT MALHOTRA REDESIGNATED AS GLOBAL CEO

• DABUR - HERJIT S. BHALLA APPOINTED AS CEO - INDIA BUSINESS

Source text: ID:nNSE8TzRTk

Further company coverage: DABU.NS

((Reuters.Briefs@thomsonreuters.com;;))

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)

((komal@thomsonreuters.com; 6354975591))

Jan 29 (Reuters) - Dabur India Ltd DABU.NS:

• DABUR INDIA Q3 CONSOL NET PROFIT 5.6 BILLION RUPEES; IBES EST. 5.56 BILLION RUPEES

• DABUR INDIA Q3 CONSOL REVENUE FROM OPERATIONS 35.59 BILLION RUPEES; IBES EST. 35.75 BILLION RUPEES

Source text: [ID:]

Further company coverage: DABU.NS

((Reuters.Briefs@thomsonreuters.com;))

- Source link: (https://bitl.to/5bQr)

- Note: Reuters has not verified this story and does not vouch for its accuracy

(Bengaluru newsroom)

((ReutersIndia.snapping@thomsonreuters.com;))

** 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)

((Mridula.Kumar@thomsonreuters.com;))

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)

((komal@thomsonreuters.com; 6354975591))

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

((Reuters.Briefs@thomsonreuters.com;;))

Adds details throughout

Oct 7 (Reuters) - Consumer goods maker Dabur India DABU.NS said on Tuesday that it saw a short-term moderation in sales during the second quarter ended September, as consumers deferred purchases and retailers rushed to liquidate higher priced inventory ahead of the government's sweeping goods and services tax cuts.

The tax cuts went into effect on September 22.

The company said in a statement that it expects second quarter revenue to grow in mid-single digits, with operating profit to grow at a similar pace.

However, Dabur expects revenue growth to "regain momentum in the coming quarters," benefitting from tax cuts and improving urban demand.

The tepid second quarter revenue and profit growth compares to a 5% decline in Dabur's revenue and 18% drop in net profit in the same quarter last year, as it took a one-time hit from inventory reduction in mom-and-pop stores to account for consumers who were increasingly shopping at supermarkets and online platforms.

Following the goods and services tax cuts, key categories for Dabur such as oral care products, juices, hair oils and shampoos, which make up about 60% of its portfolio and previously saw tax rates of 12% or 18%, now face a 5% levy.

About 85% of Dabur's portfolio will have a goods and services tax rate of 5%, the company said.

Dabur's shares were up 1.5% after the quarterly update.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Ronojoy Mazumdar)

((Ananta.agarwal@thomsonreuters.com;))

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

((Reuters.Briefs@thomsonreuters.com;;))

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)

((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))

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)

((Chandini.M@thomsonreuters.com; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))

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.

(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

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)

((Ananta.agarwal@thomsonreuters.com;))

** 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)

((Hritam.Mukherjee@thomsonreuters.com;))

July 4 (Reuters) - Indian consumer goods maker Dabur DABU.NS expects its operating profit growth to marginally lag revenue growth in the April-June quarter, it said on Friday.

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))

** 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)

((Hritam.Mukherjee@thomsonreuters.com;))

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)

((Ananta.Agarwal@thomsonreuters.com))

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

((Reuters.Briefs@thomsonreuters.com;))

** 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)

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BENGALURU, May 7 (Reuters) - Diary of India economic, corporate events on May 7

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

((Diaries@thomsonreuters.com))

** 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)

((VijayDattaram.Malkar@thomsonreuters.com;))

April 1 (Reuters) - Dabur India Ltd DABU.NS:

• INCOME TAX AUTHORITY RAISED DEMAND OF 1.10 BILLION RUPEES

Further company coverage: DABU.NS

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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)

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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)

((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))

Jan 30 (Reuters) - Dabur India Ltd DABU.NS:

• Q3 CONSOL NET PROFIT 5.22 BILLION RUPEES; IBES EST. 5.15 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 33.55 BILLION RUPEES; IBES EST. 33.61 BILLION RUPEES

Further company coverage: DABU.NS

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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: aditya.kalra@tr.com; X: @adityakalra;))

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

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