Shares of Dabur India fell nearly 2 per cent on Thursday, trading around ₹425 on the NSE in afternoon trade, as investors weighed a broadly in-line quarterly result against a backdrop of elevated input costs and lingering concerns about revenue momentum.The stock, which hit a 52-week low of ₹403.35 in April, has lost over 18 per cent in the past year and underperformed the Nifty Midcap 50 index significantly. Buy-side interest is marginally ahead of selling pressure, 56 per cent buy versus 44 per cent sell on the NSE order book, but has not been enough to arrest the day’s decline.Dabur reported consolidated revenue of ₹3,764 crore for Q1 FY27, up 10.6 per cent year-on-year, with operating profit growing 11 per cent and net profit rising 15 per cent to ₹591 crore. India FMCG volume growth came in at 5 per cent, while international revenues grew 15.5 per cent in rupee terms. Home and Personal Care led domestic performance with 12.3 per cent growth, while Healthcare and Foods & Beverages posted more modest gains. Unseasonal rainfall in April and early May weighed on beverages and glucose sales, though both recovered through May and June.Brokerage reactions have been largely measured. Anand Rathi maintained a Buy rating but trimmed its target price to ₹550 from ₹590, citing inflation-led pricing pressure likely to moderate near-term volume growth. The firm values Dabur at 42x FY28 estimated earnings and expects revenue to grow at an 8.5 per cent CAGR through FY28.HDFC Securities held its ADD rating with a target of ₹465, applying a 20 per cent discount to the stock’s five-year average forward multiple, flagging weak execution over a four-year revenue CAGR of just 4 per cent. Equirus Securities also maintained ADD with a target of ₹474, noting that elevated input cost inflation of around 8 per cent is expected to keep margins under pressure despite the recent stock correction. JM Financial kept its ADD rating with a revised target of ₹490, pointing to inexpensive valuations at 37x FY27 earnings but cautioning that a re-rating would depend on more consistent revenue delivery relative to peers.Management guided for low double-digit consolidated revenue growth in FY27, supported by pricing, premiumisation, product innovation and its ongoing go-to-market overhaul under Project Saksham. The company’s net cash position stands at approximately ₹90 billion, with capital allocation priorities including acquisitions, a greenfield unit in Tamil Nadu and maintaining near full dividend payout on India profits.The stock’s current price-to-earnings ratio stands at around 39x trailing earnings on the NSE.Published on July 30, 2026