Synopsis: Dabur India Limited reports 6.06% YoY revenue growth and a 7.33% YoY net profit surge in Q3 FY26 results. Similarly, Colgate-Palmolive (India) Limited achieved a 1.43% YoY revenue growth and a 0.33% YoY net profit surge in Q3 FY26 results.
Two leading FMCG stocks, Dabur India and Colgate-Palmolive (India), have announced their December quarter results, drawing mixed reactions from brokerages. While Dabur showed early signs of demand recovery, Colgate continued to face margin pressures amid a competitive environment. Here’s a quick look at how the companies performed and what brokerages expect going forward. Here are two FMCG stocks that announced their December Quarterly Results
With a market capitalization of Rs. 91,415.99 crores, the share of Dabur India Limited has reached an intraday high of Rs. 519.75 per equity share, rising nearly 2.19 percent from its previous day’s close price of Rs. 508.60. Since then, the stock has retreated and is currently trading at Rs. 514.80 per equity share.
Q3 FY26 Result Walkthrough
Coming into the quarterly results of Dabur India Limited, the company’s consolidated revenue from operations increased by 6.06 percent YOY, from Rs. 3,355.25 crore in Q3 FY25 to Rs. 3,558.65 crore in Q3 FY26, and grew by 11.51 percent QoQ from Rs. 3,191.32 crore in Q2 FY26.
Dabur India Limited generated 86.11 percent of its revenue from Consumer Care Business, 11.75 percent from Food Business, 0.80 percent from Retail Business, 1.05 percent from Other Segments and 0.29 percent from Other Operating Revenue in Q3 FY26.
In Q3 FY26, Dabur India Limited’s consolidated net profit increased by 7.33 percent YOY, reaching Rs. 553.61 crore compared to Rs. 515.82 crore during the same period last year. As compared to Q2 FY26, the net profit has increased by 24.47 percent, from Rs. 444.79 crore. The basic earnings per share increased by 7.12 percent and stood at Rs. 3.16 as against Rs. 2.95 recorded in the same quarter in the previous year, FY2025.
Brokerage Viewpoint
Jefferies, a prominent brokerage firm, has recommended a “Buy” call on Dabur India Limited with a target price of Rs. 610 per share, indicating an upside potential of 19.94 percent from its previous day’s close price of Rs. 508.60.
Jefferies has maintained its Buy rating on Dabur as the company’s Q3 results were broadly in line with expectations. While Dabur faced some disruption due to GST transition issues in October and November, business conditions improved in December, showing signs of normalisation.
Management indicated early signs of demand recovery during the third quarter and expects this recovery to continue gradually over the next few years. The company has guided for high single-digit to low double-digit revenue growth by FY27, supported by improving demand trends.
Company Overview
Dabur India Limited began in 1884 as a small pharmacy in Kolkata, founded by Dr. S.K. Burman to create healthcare products from Ayurvedic traditions. It grew into a major company offering natural remedies, herbal medicines, hair oils, Chyawanprash, and personal care items like shampoos and soaps.
With a market capitalization of Rs. 56,751.16 crore, the shares of Colgate-Palmolive (India) Limited were currently trading at Rs. 2,086.55 per equity share, down nearly1.20 percent from its previous day’s close price of Rs. 2,111.85.
Q3 FY26 Result Walkthrough
Coming into the quarterly results of Colgate-Palmolive (India) Limited, the company’s consolidated revenue from operations increased by 1.43 percent YOY, from Rs. 1,452.21 crore in Q3 FY25 to Rs. 1,472.92 crore in Q3 FY26, and decreased by 2.28 percent QoQ from Rs. 1,507.24 crore in Q2 FY26.
In Q3 FY26, Colgate-Palmolive (India) Limited’s consolidated net profit increased by 0.33 percent YOY, reaching Rs. 323.86 crore compared to Rs. 322.78 crore during the same period last year. As compared to Q2 FY26, the net profit has decreased by 1.11 percent, from Rs. 327.51 crore. The basic earnings per share increased by 0.34 percent and stood at Rs. 11.91 as against Rs. 11.87 recorded in the same quarter in the previous year, FY2025.
Brokerage Viewpoint
Citi, a prominent brokerage firm, has recommended a “Sell” call on Colgate-Palmolive (India) Limited with a cut target price to Rs. 2,000 from Rs 2,100 per share, indicating a downside potential of 5.30 percent from its previous day’s close price of Rs. 2,111.85.
Citi has maintained its Sell rating on Colgate, noting that while there is potential for a gradual recovery in volumes, the operating environment remains highly competitive. The company continues to face pressure from aggressive trade promotions across the industry, which has limited any meaningful improvement in pricing or profitability.
Looking ahead, Citi expects volumes to improve slowly; however, margins are likely to stay under pressure. The key concern remains the impact of the inverted duty structure, which continues to weigh on costs and profitability, making margin recovery challenging despite better volume trends.
Company Overview
Colgate-Palmolive (India) Limited started in 1937 as a simple seller of dental cream using hand carts. Today, it leads India’s oral care market with a vast network that reaches homes across cities and villages. The company makes and sells toothpastes, toothbrushes, mouthwashes, and personal care items like soaps under trusted brands Colgate and Palmolive.
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