DABUR

May 19 (Reuters) - Dabur India Ltd DABU.NS:

• DABUR - UNIT INCORPORATES PRAVAAH CONSUMER GROUP INC IN DELAWARE, USA

Source text: ID:nBSE2D1x9p

Further company coverage: DABU.NS

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

** Dabur DABU.NS beats Q4 profit view; plans 4% price hikes across portfolio as ongoing Iran war raises manufacturing, transportation costs

** DABU gains 1.6% to 477.40 rupees

INDIA GROWTH LIFTS OUTLOOK

** BofA ("buy"; PT: 520 rupees) sees favourable risk-reward as India growth accelerates; expects pricing, product mix to lift earnings, scope for estimate upgrades

** Morgan Stanley ("underweight"; PT: 412 rupees) says management commentary constructive; expects pricing hikes, cost control to help protect margins despite input inflation

** JP Morgan ("neutral"; PT: 525 rupees) says India momentum building on strong home, personal care demand; forecasts double-digit FY27 growth driven by pricing, volume recovery

** Goldman Sachs ("neutral"; PT: 515 rupees) says growth improving off low base, with India business driving revenue and margins seen stable despite inflationary pressures

(Reporting by Kashish Tandon in Bengaluru)

((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))

Rewrites with comments from earnings call

May 7 (Reuters) - India's Dabur DABU.NS signaled a second round of price hikes after implementing a 4% increase across parts of its portfolio, as war in the Middle East drives up manufacturing and transportation costs.

A surge in energy prices caused by the war is rippling through global supply chains for common consumer goods, making materials like chemicals and plastics more expensive.

"We want to increase the margins from last year to the current year and mitigate all the inflation through price increases," Dabur said in a call with analysts after reporting results on Thursday.

Peers including Dove soapmaker Hindustan Unilever HLL.NS and cooking oil manufacturer AWL Agri Business AWLA.NS are also the tightening costs and raising prices to account for rising raw material costs.

Dabur is also shrinking the size of products priced at 10-20 rupees — a key price band for budget-conscious consumers — to manage inflation, after increasing pack sizes when India cut consumption taxes last year.

Along with the raw material inflation due to the regional conflict, the honey-to-toothpaste maker also faces sales pressure as the Middle East contributes 30%-35% of its international business.

Middle East and North Africa revenue climbed 1%, while most other regions posted double-digit growth. Dabur attributed the disparity partly to an exodus of expatriates from the Gulf, which in recent years has become a focus area for Indian consumer goods makers.

Separately, Dabur beat quarterly profit estimates, helped by steady demand after consumption tax cuts in India.

Consolidated profit jumped 15% to 3.69 billion rupees ($39.15 million), while revenue rose 7% to 30.38 billion rupees.

($1 = 94.2500 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru and Praveen Paramasivam in Chennai; Editing by Nivedita Bhattacharjee and Ronojoy Mazumdar)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

May 6 (Reuters) - Dabur India Ltd DABU.NS:

• DABUR - DABUR INTERNATIONAL TO INCORPORATE WHOLLY OWNED SUBSIDIARY IN USA

Source text: ID:nnAZN4SUJHK

Further company coverage: DABU.NS

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

** Shares of Dabur India DABU.NS rise as much as 1.8% to 441.40 rupees

** UBS upgrades stock to "neutral" from "sell", but cut its PT to 490 rupees from 540 rupees

** Brokerage notes Dabur has lagged peers, with the stock down about 20% over the past five years amid weak execution in international businesses

** Says Q4 data showing an uptick in domestic demand, though high-single-digit growth is unlikely without further acceleration

** It adds that international operations remain a drag, with recovery expected to be gradual and earnings growth driven mainly by domestic performance

** For FY27, UBS sees consolidated revenue and EBITDA to grow by 8.3% and 11.1%, respectively

** Thirty-seven analysts have a "hold" rating on avg; median PT is 527 rupees - LSEG data

** YTD, DABU down 13%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

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;;))

Adds details and background

Feb 17 (Reuters) - Indian consumer goods maker Dabur DABU.NS on Tuesday elevated its group chief executive Mohit Malhotra to the role of global CEO and appointed Herjit Bhalla as CEO for its India business.

Bhalla, who will take over the role on April 15, is currently vice president, Canada & Global Customers at U.S.-based confectionery giant Hershey Co HSY.N.

In January, Malhotra told an Indian news outlet that Dabur may introduce an additional India-focused role to strengthen its structure.

Last month, Dabur reported a third-quarter profit largely in line with estimates, as demand received a lift from the country's consumption tax cuts, offsetting a one-time charge from new labor codes.

(Reporting by Urvi Dugar in Bengaluru; Editing by Vijay Kishore and Mrigank Dhaniwala)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

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) - 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)

((Komal@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) - Dabur India Ltd DABU.NS:

• RURAL DEMAND OUTPERFORMS URBAN DEMAND IN Q3

• DURING QUARTER, EARLY SIGNS OF DEMAND RECOVERY WERE WITNESSED

• CONSOLIDATED REVENUE EXPECTED TO GROW IN MID-SINGLE DIGITS IN Q3

• WE EXPECT CONSOLIDATED REVENUE TO GROW IN MID-SINGLE DIGITS WITH OPERATING PROFIT AND PROFIT AFTER TAX TO GROW AHEAD OF REVENUE FOR QUARTER

• FAVOURABLE MACRO CONDITIONS,TAX REFORMS TO SUPPORT SUSTAINED RECOVERY IN DEMAND

• INTERNATIONAL BUSINESS TO POST NEAR DOUBLE DIGIT GROWTH IN Q3

• DEMAND RECOVERY IN Q3 AIDED BY GST RATE REVISIONS

Source text: ID:nBSE31s8nZ

Further company coverage: DABU.NS

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

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;;))

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)

((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;))

** Consumer staples producers Colgate-Palmolive India COLG.NS and Dabur DABU.NS rise 1.67% and 0.6%, respectively

** 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

** Government believes lower prices could boost sales, and ultimately increase long-term GST collections, adds report

** YTD, COLG shares down 8.6% while Dabur down 4.2%

(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;))

May 8 (Reuters) - India's consumer goods sector reported an 11% growth in value in the March quarter, as rural growth outpaced that in urban areas for the fifth straight quarter, market research firm NielsenIQ said on Thursday.

Rural areas - which account for just over a third of overall consumer goods sales - have become a bright spot for an industry that is struggling with higher living costs and slow wage growth in large cities.

"Rural markets continue to drive growth, whereas urban metros continue to see a shift toward E-commerce," Roosevelt Dsouza, head of customer success for consumer goods at NielsenIQ, said.

Although rural consumption growth slowed in the March quarter, with volumes rising 8.4% compared to 9.2% in the previous three months, it still outpaced urban demand, where growth decelerated to 2.6% from 4.2%.

Price increases also contributed to the overall value growth, with the cost of staples such as edible oil rising 5.6% during the quarter, compared with just 0.3% in the same period a year ago.

Low base, rural growth, and easing inflation are helping smaller players, which saw 17.8% growth in value, outpacing the broader FMCG market, the report said.

Indian consumer goods maker Marico MRCO.NS reported fourth-quarter profit above analysts' expectations, boosted by improving rural demand and price increases for its key packaged oil brands—underscoring the strength of non-urban markets.

The company also said it plans to expand its presence in villages across India.

Smaller manufacturers are driving consumption compared to larger players, whose volume growth has halved compared to the December quarter, NielsenIQ said.

Hindustan Unilever HLL.NS and Nestle India NEST.NS reported weaker fourth-quarter profits, with Hindustan Unilever cutting its margin forecast amid high commodity costs and sluggish urban demand.

Going ahead, NielsenIQ said revised tax slabs and a favorable monsoon forecast could further lift consumption in the coming quarters.

(Reporting by Ashish Chandra in Bengaluru; Editing by Sonia Cheema)

((ashish.chandra@thomsonreuters.com; +91 7982114624;))

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

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