• Q4 operational performance: Dabur reported 7.3% overall growth and 9.5% India FMCG growth in Q4, driven by an 18-quarter high volume growth of 6%. Growth was led by a 17.5% rise in HPC and a 12% rebound in healthcare (ex-glucose), with market share gains in hair oil and toothpaste.
• FY27 growth outlook: Management is targeting high single-digit to low double-digit aggregate topline growth for FY27. This expansion is expected to be balanced roughly equally between 5% to 6% volume growth and 5% to 6% value growth.
• Price hike guidance: To counter higher-than-expected inflation and protect gross margins, Dabur plans to follow its initial 4% price hikes with an additional 2% to 4% increase. In aggregate, full-year price increases are expected to range between 5% and 6%.