DABUR: Ventures Platform And Modest Margin Outlook Will Shape Future Returns

Analysts have nudged their price target for Dabur India marginally lower to about ₹543 from roughly ₹543 previously, reflecting slightly higher discount rate assumptions and marginal trims to long term growth and margin expectations.

What's in the News

• Dabur India has launched Dabur Ventures, an investment platform with capital allocation of up to INR 5,000 million to back high growth, digital first brands in personal care, health care, wellness foods, beverages, and Ayurveda (company announcement)
• The Dabur Ventures programme will be fully funded from Dabur India's balance sheet, underscoring the company's appetite for inorganic growth in emerging consumer categories (company announcement)
• Dabur's board has formally approved the Dabur Ventures platform as a key business expansion initiative aligned with the group's long term strategic vision (board resolution)
• The board meeting scheduled for October 30, 2025 will also review unaudited financial results for the quarter and half year ended September 30, 2025 and consider an interim dividend for FY 2025 to 26 (board filing)

Valuation Changes

• The fair value estimate has edged down slightly to about ₹543 from roughly ₹543 earlier, reflecting minor tweaks to assumptions.
• The discount rate has risen slightly to around 13.58 percent from about 13.56 percent, indicating a marginally higher required return.
• The revenue growth forecast has been trimmed slightly to roughly 9.36 percent from about 9.37 percent, implying a modestly softer top line trajectory.
• The net profit margin expectation has fallen slightly to around 15.43 percent from about 15.44 percent, pointing to a marginally lower profitability outlook.
• The future P/E multiple has increased very slightly to about 55.08 times from roughly 55.03 times, suggesting a nearly unchanged valuation multiple.