Shares of Dabur India opened significantly higher on Friday, reaching an intraday high of ₹487.35 on the NSE before settling at ₹474.05, up 0.86 percent from the previous close of ₹470. This movement in stock price comes in response to the company’s Q4 FY26 results, released after market hours on Thursday.
The initial surge in the stock reflects positive market sentiment due to earnings surpassing profitability expectations, although opinions among analysts remain mixed. By 10:08 am, sell orders constituted 56.86 percent of trades, compared to 43.14 percent for buy orders. The trading volume had already surpassed 41 lakh shares, amounting to ₹196 crore, indicating active market engagement.
Jefferies, one of the more optimistic brokerages, maintained a “Buy” rating with a price target of ₹610, describing Dabur as a “dark horse.” The firm noted a significant 17 percent year-on-year growth in the domestic HPC segment, addressing investor concerns about the company’s portfolio relevance. Jefferies anticipates earnings growth acceleration driven by both revenue and margin expansion.
Investec held a “Hold” rating but reduced its target from ₹525 to ₹514, recognizing pricing as a driver of near-term momentum while cautioning about limited capacity for significant medium-term margin expansion. Conversely, Morgan Stanley retained an “Underweight” rating with a target of ₹412, citing a weaker portfolio structure even as it acknowledged potential positive market reactions to the earnings report following a history of underperformance. Citi adopted a cautious stance with a “Sell” recommendation and a ₹490 target, questioning the sustainability of recovery in light of ongoing challenges within certain product categories.
Regarding financial metrics, Dabur reported a consolidated revenue of ₹3,038 crore for Q4 FY26, reflecting a year-on-year increase of 7.3 percent. Operating profit increased by 8.2 percent to ₹462 crore, while margins expanded by 12 basis points to 15.2 percent. Net profit rose 15.1 percent to ₹368.6 crore, partly driven by a one-time gain from an asset sale. The India FMCG sector grew 9.5 percent, while international sales rose by 2.5 percent in rupee terms, hindered by geopolitical pressures in the Middle East.
The stock is currently trading at a price-to-earnings ratio of 44.57 and is down 5.18 percent year-to-date, along with an 11.33 percent decline over the past five years, which has resulted in significant underperformance compared to the Nifty Midcap 50 index.
Published on May 8, 2026.
