Dabur India Limited (NSE: DABUR) Q3 2026 Earnings Call dated Jan. 29, 2026
Corporate Participants:
Mohit Malhotra — Chief Executive Officer
Ankush Jain — Chief Financial Officer
Isha Lamba — Head-Investor Relations and M&A
Analysts:
Abneesh Roy — Analyst
Prakash Kapadia — Analyst
Mihir Shah — Analyst
Percy Panthaki — Analyst
Nihal Mahesh Jham — Analyst
Harit Kapoor — Analyst
Ajay Thakur — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Q3 results investors conference call of Dabur India Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference, please signal an operator by pressing STAR and then zero on your touchstone code. Please note that this conference is being recorded. I now hand the conference over to Ms. Isha Alamba, head Investor Relations and M and D. Thank you. And over to you, Ms. Lumba.
Isha Lamba — Head-Investor Relations and M&A
Good evening ladies and gentlemen. On behalf of the management of Dabil India Limited, I welcome you to the earnings conference call pertaining to the results for the quarter ended 31st December 2025. Present here with me are Mr. Mohit Malhotra, Chief Executive Office, Mr. Ankush Jain, Chief Financial Officer and Ms. Gagan Haluvalya, VP, Corporate Affairs. We will start with an overview of the company’s performance by Mr. Mohit Malhotra and this will be followed by a Q and A session. I’ll now hand over to Mr. Mohit Malhotra. Thank you.
Mohit Malhotra — Chief Executive Officer
Thank you Isha. Good evening ladies and gentlemen. We welcome you to Dabur India Limited’s conference call pertaining to the results for the quarter ended 31 December 2025. Demand trends in India witnessed a gradual recovery following the GST rate cuts while the month of October experienced transient headwinds due to GST transition. Demand improved over rest of the quarter. Rural markets continue to outperform urban markets consistent with recent quarters. In quarter three, consolidated revenue of Dabur grew by 6.1% year on year with domestic FMCG business growing at 6% year on year on back of volume growth of 3% year on year.
In the India business, HPC portfolio continued its strong performance and recorded of 10.6% growth year on year. Within hair care, Hair oil portfolio registered a robust growth of 19.1% year on year with both perfumed and coconut oils growing in double digits. We outpaced the category growth and gained market shares of 193bps with overall volume market share touching all time high of 20%. Shampoo posted 6.2% growth this quarter. We remain focused on premiumization and expansion into new age offerings in both hair oils and shampoo. The toothpaste portfolio delivered a robust growth of 10% with a flagship brand Dabur Red Toothpaste sustaining its growth momentum.
Mitsuaq and Herbal registered strong growth of 25% each. The herbal segment grew 530 basis points ahead of non herbal segment highlighting a strong and sustained consumer shift towards the natural and herbal oral care products. Capitalizing on this trend, our portfolio outperformed overall category growth driving gains in market shares. Skin care portfolio registered a mild single digit growth. Mid single digit growth, Bleached portfolio and facial kits performed well during the quarter. Within home care Sanifresh recorded a high single digit growth. Odonel gel pockets and aerosols posted a high double digit growth resulting in market share gains of 131bps in air freshener category.
In the healthcare category, Health supplements grew in low single digit Honey recorded a strong volume led growth of 10%. Chavan prash remained flattish primarily due to excess inventory in the trade. However optics grew by 11% during the quarter resulting in a higher secondary sales and gain of 52bps in market shares. The premium portfolio of Gur Chavan Prash and Ratan Prash recorded a strong double digit growth. In the Digestive portfolio, Hajmola franchise posted a 7% growth driven by double digit growth in candies. New variants such as Chat Kola, Imri Chu’s Mr. Aam contributed to 20% overall.
Franchise registered a strong 23% growth. Puddin Ara grew by 6.6% year on year. OTC and ethical portfolio recorded a growth of mid single digits. Honeydews delivered a strong growth of 16.6% supported by a favorable season. Ayurvedic Health juices continued their strong momentum registering a growth of 17.9% in juices and nectar. The Premium portfolio comprising real active 100% juices and coconut water continue to scale up delivering a robust growth of 38% and 52% respectively. The Nectar portfolio remained muted on account of unfavorable season. We continue to outperform the juices in the nectar category gaining market shares of 195bps in Nectar and 650bps in juices.
The culinary portfolio grew by 14% led by oils and fats and Homemade portfolio. The International business registered a growth of 11% in INR terms and 7.5% in CC terms. In INR terms Mena grew by 12.5%, Sub Saharan Africa grew by 30%, UK and European Union by 30% and Namaste US grew by 19.3%. The export and emerging market businesses were impacted by tariffs and geopolitical disturbances. In terms of profitability, operating Profit grew by 7.7% while PAT grew in double digits by 10.1% during the quarter. There is a one time provision arising from changes in the labor laws.
Adjusting for this exceptional item, PAT grew by 7.2% in spite of GST conditions, high inflation and one time provision due to labor laws. Operating profit and PAT growth was ahead of the top line on back of calibrated price increases and prudent cost saving measures. Looking ahead, we remain optimistic on a sequential recovery in demand supported by an improving macroeconomic environment and targeted investments in brand and distribution. This strategic focus strengthens our ability to deliver sustainable value and reinforce our leadership in the FMCG sector. With this, I conclude my address and open the floor for the Q and A.
Thank you.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and 2. Participants are requested to please use handsets while asking a question. Ladies and gentlemen, we will now wait for a moment while the question queue assembles. Our first question comes from the line of Avnish Roy from Nuvama. Please go ahead.
Abneesh Roy
Thanks. My first question is on hair oil. So Q3 we have seen all the three listed companies see strong double digit growth in hair oil including you. So wanted to check is there any one off for the industry and for you given such a strong double digit growth and is there something you can take away from here that some of your other FMC categories could see some kind of a revival in in the near term and is this kind of hair oil growth possible that it can continue in the near term? Thanks.
Mohit Malhotra
Hi Avnish hair oils I think overall the growth of the category has been driven by value growth which is price increases. If you look at major contributor of hair oil there’s been coconut oils and coconut oils there’s been a huge inflation of roughly around 100% odd. The coconut oil rates used to be around 120, 130 went up to a spike of around 400 and then down to around 250 odd. So all companies have taken price increases in coconut. So if you look at the growth, growth is essentially price driven growth which I think is one off till the time we lap over to the base of the cost increases in coconut.
As we see the coconut prices are actually softening going forward but the volume growths are pretty muted in the category. Around 3 to 4% is the kind of volume growth for the category but overall value growths are in high double digits as far as other categories are concerned.
Abneesh Roy
Yeah please one follow up there we have Seen for Marico’s Bajo and even for Bajaj consumer volume growth also has been quite impressive. So is there any difference we are seeing in terms of volume growth in like to like categories? I understood on the coconut but non coconut how has been the volume performance?
Mohit Malhotra
Yeah non coconut also because LLP prices have actually come down the margin upside is there and that is being invested in the consumer communication on back of that even the perfume hair oil category or the value added category that Varico nomenclatures it also has been doing well for us. Also there’s been high double digit growth in the perfume hair oil category and due to GST rate cuts also there’s a positive upside onto that.
Abneesh Roy
Understood. Second question on in terms of toothpaste your performance has been quite impressive past few quarters including this quarter. But when I see your growth it seems that Mace Walk and Hubble seem to be growing much faster than red. Is there any base effect which is leading to that? Is there any specific consumer promotion which has led to those two segments growing faster than your main brand of red. To.
Mohit Malhotra
I think overall oral care is doing exceedingly well for us. I think there’s a tailwind like I mentioned there’s a 500bps gap between the growth of the non herbal category and the herbal category. Herbal category is growing by 500bps higher as compared to the non herbal category and there’s a tailwind and natural segment is actually doing far better than the non natural segment and Miswak and herbal don’t have any base effect. The base itself is pretty low and both the brands are showing great traction in the marketplace. On back of a lot of advertising work that we guys are doing on digital marketing.
I think brands are resilient and continuing to do well both on the distribution front, distribution expansion as also on the consumer franchise front. As far as Dabur ed is concerned, flagship brand is doing very well. That’s also growing by double digits for us. So there is no issue. We’ve done a pack change and complete revamp of Daba Red that is also yielding dividends in the marketplace and it’s doing well now. Where we’ve not done well in oral care is Babool. Babool has not done very well for us and we are in the process of revamping our entire portfolio of Babool for that also to get into the growth trajectory.
Abneesh Roy
Mohit 1 follow up on toothpaste Last 3 4/4 Competitive intensity in this category across the 34 players has been on the higher side. So if you could tell us are you seeing some level of abatement there? Given that how are the margins in toothpaste business given the higher intensity?
Mohit Malhotra
Yeah. So I think competitive intensity in oral care has been inching up especially in the modern trade side with the main market leader being very aggressive on the modern trade and off late a bit of abatement we’ve seen in the previous quarter but not so much so that I can say that it’s going to be sustained. So that’s. But competitive intensity always been high in oral care for us. I think modern trade is where the shoe pinches more as compared to the general trade for us. But overall oral care will continue on a growth trajectory.
I don’t see a reason why this should go down and the tailwind on natural herbal is actually helping us.
Abneesh Roy
Understood.
Ankush Jain
Yes. Avnish on the margin front we have protected the margins, you know because we have saved some bit of taste on consumer promotions and advertised more and hence overall margins are actually protected despite the intense competitive intensity.
Mohit Malhotra
Yeah, because margins. There was a high degree of inflation in oral care with SLEAS and SLS prices also moving up and. But we’ve taken calibrated price increases before the GST cut happened and that follow through impact is also there in our old can margins are as robust or higher than what they used to be before.
Abneesh Roy
Understood. Last quick question. So on Chavan Prash, one or two questions. One is if you could update us on contemporization of the category because that has been a key challenge. Second, there is a big divergence between the primary and secondary. Does that mean that in Q4 the growth in Chavan Prash could be better because season is favorable. I do understand Q4 in the second half the season ends so Q3 is more important. Q4 is not. But given primary and secondary there is a big gap. Do you think there is some kind of recovery in Q4?
Mohit Malhotra
Absolutely right. I think you got the analysis perfectly right. Our tertiary sales have increased by 11%. Our market share, Matt is also up. So tertiary in terms of offtake I think the season has favored us and the brand has been doing exceedingly well. But why the primary has been low is because last year there were some carry forward stocks which we had to liquidate in the marketplace. Therefore we did not do too much of pre season loading in Chavan Pras that’s why you impact in terms of primary sales as far as the. And quarter four is going to be definitely better because whatever.
Loading. That we did not do and last year we did and the Season did not favor us. So there was some stock which actually came back to us. This time that anomaly is not going to happen and therefore quarter four will give you a very high double digit growth and beat on a very lower base of Chavan Prash. So that way ch but the business has been okay on as far as premiumization is concerned. Premiumization percentage of Javan Prash is roughly around 13 to 14% of premiumization. We are continuously adding variants for premiumization in Javan Prash.
Gourd has done exceedingly well for us. Ratan Prash has done well for us. So all the newer variants that we’ve added in Chavan Prash have done. Sugar Free is doing exceedingly well. We’ve almost doubled our distribution in Sugar Free also. So that’s doing well and we got a little late. We’ll be introducing gummies and bars in Chavan Prash also going forward and that’s the modernization of the formats that we are doing on Chavan Prash. Sure.
Abneesh Roy
Thanks. That’s all from my side.
Mohit Malhotra
Thank you.
Abneesh Roy
Thank you.
operator
Our next question comes from the line of Prakash Kapadia from Kapadia Financial Services. Please go ahead.
Prakash Kapadia
Yeah, thanks for the opportunity. Two questions from Mayan with any thoughts on the upcoming summer season. How does the, you know, beverage and juice business look like? Because it’s been volatile for, you know, some external factors over the last, you know, many, many quarters, one quarter we see growth, then you know, there is some season change. So what is the outlook for that and you know, as we progress, how does the midterm, you know, growth look from year on and if you could dissect that for, you know, rural and urban demand, is it, you know, now, you know, set for higher teams growth? How does, you know, next few quarters look like? So those were my two questions. Thank you.
Mohit Malhotra
Right. On the beverage and juices business, we are also keeping our fingers crossed. There was inventory of, you know, because the season did not favor us in the last summers so there were some stocks. So we are in the process of liquidating all that stock in the marketplace so that we start the new season afresh without stocks and we are able to do billing, keeping our fingers crossed. I just hope the season favors us in the coming summers and the weather gods favor us. I think that’s what we sit and pray and the whole category should surge on back of the category tailwind.
We should also idly do well because the bases are low. Last year we had in the first quarter on -14 business growth. Sequentially the business has improved going forward and we are almost flushing out the inventories in the trade. So hopefully the next year for beverages we will target a double digit growth for ourselves next. The pre season loading should be good. So hopefully I think the season should be good. As far as the overall FMCG growth is concerned. This quarter has actually seen a little depression in the FMCG numbers Last year. Sequentially the business FMCG numbers are down from 13% to around 7.8%.
That depression is I think only optical because of GST rate cuts. The pricing and the value is down and that’s why you see, but even the volumes are down. Volumes are down because people were waiting for the old, the new price stocks to hit the market and then do the purchases. So therefore they will postpone the purchases till the time inventory actually liquidate in the marketplace. But if you look at the MAT numbers, Matt numbers are pretty stable from 11.5%, 11.8% to around 11% now. And gradually, slowly there will be only improvement on account of the sentiment improving.
Consumer confidence levels are improving. Even the CPI inflation is actually reigned in. So I think the subsequent quarters are going to be better because first quarter was hit by season, second quarter was hit by gst, third quarter has been significantly better and the fourth quarter would even be better. And I think we’ll start on a firm footing as far as the next year is concerned.
Prakash Kapadia
Okay, any, any specific categories you would want to call out or any urban or, you know, rural insight you would want to share? How is, you know, that demand looking? Because urban and rural both were doing pretty okay for us as compared to industry where, you know, rural was doing better. So any thoughts on that?
Mohit Malhotra
Yes, as far as urban and rural is concerned, the difference between urban and rural is narrowed a little bit. That means urban is also doing well while rural continues its consistent performance. And urban and rural is outsmarting urban by around 300 basis point. But the 300 basis point is down to half what it used to be. Last year was 600 basis points. So I think the urban performance is kind of inching up. The rural performance is kind of steering up also. So I think both urban and rural are doing well. And GST rate cuts are only helping this consumer sentiment.
So I think overall is doing well and this will be across categories. So whether it’s food or it is OTC or it is personal care, beauty care, it should be across categories. Beverage, which is very season dependent is something that we have to wait and watch and glucose, which is also very season dependent. Summer Season dependent is what we will have to see. So that is a little caveat which is very weather God dependent. The rest I think overall things are seemingly alright as far as inflation is concerned. We saw huge inflation in quarter three.
The inflation is ebbing a little bit as we see. As I told you, coconut oil prices are softening, sles prices are softening, vegetable oil prices are also softening. So the next year growth is going to be more volume driven growth and not so much price driven or value driven growth. So that’s a little remark. And volume driven growth is little harder to get as compared to a combination of a value and a volume.
Prakash Kapadia
Understood. I’ll join back the queue if I have more questions.
Mohit Malhotra
Thank you.
operator
Thank you. Ladies and gentlemen, we request you to please restrict yourselves to two questions only. If you have any further questions you may rejoin with you. Our next question comes from the line of Mihir Shah from Romira. Please go ahead.
Mihir Shah
Hi sir, thank you for taking my question. So firstly, just some clarification you highlighted post November demand saw some improvement. How much of this improvement can be attributed to restocking? Also given the quarter was partially impacted earlier, can one expect growth to improve on a quarter on quarter basis in 4Q or probably remain at a similar range because we had the both up and down levers in 3Q playing out. So that’s my first question.
Mohit Malhotra
Yeah, so I think overall if you look at the quarter, October had a cascade impact of the GST old stock liquidation in the trade and therefore October was not so good and a little bit November also got impacted because of that. But December has been far better as compared to October and November. Also I think going forward demand should only improve in quarter four as compared to quarter three and that’s what the MAT numbers also tell us on account of restocking to your point. So I think that going forward the business should only inch up.
Mihir Shah
Okay, understood. So secondly, while Juices is one of the lowest margins portfolio, it seems the mix within Juices is changing towards Nectar Active which are relatively higher margin than the rest of the portfolio. So wanted to understand has the change been so significant? Can it improve the overall margins of the Juices portfolio and thus the overall company margins? Also if you recollect 4Q usually 4Q is one of the lowest margin quarters because of this since past few years. But last year was the margins were really low. Is there any, you know, way that the margins can see material improvement in 4Q and also you know, the impact on the US litigation? Any update on that? That probably can See some reversal on margins because of that.
So essentially on the margin bit, basically.
Mohit Malhotra
All right, so in juices, what’s happening is while you write nectar is a lower margin portfolio for us, whereas active and coconut water, the higher margin portfolio for us and the higher margin portfolio has done significantly better. If you look at the active business, active business has grown by 38% for us, which is the juice 100% to juice business grown by 38%, although it’s a smaller base. And coconut waters have again grown by around 50% for us. So high margin portfolio is inching up far higher as compared to the low margin portfolio. And we expect this to continue that trajectory going forward also.
So on quarter four being a low margin quarter. Yes. As compared to quarter three, it’s a relatively lower margin because of glucose being quite salient in the, in the quarter four and also being a juice quarter. So both ways I think it’s a little low margin. But as the premium portfolio should inch up, I think a little bit margin should be much better as compared to last year. If last year, quarter four to this year, quarter four, I will expect the margins to be higher on back of lower inflation and on back of premium portfolio also inching up going forward.
As far as the third part of your question is US litigation is concerned. Last year the US litigation cost over a period of I think past two to three years has been coming down drastically in quarter three, we had a lower base last year. So this time in quarter three, you see a spike in terms of the litigation cost because of some insurance reimbursement happening on to us. But next quarter the US litigation cost again will be on lower, but significant reduction in the litigation cost is happening year on year for us overall.
Mihir Shah
Got it. So sorry if I take this question.
Ankush Jain
Litigation cost has reduced by almost. Some disturbance, but litigation cost has reduced almost 25% over last three years since we started. So. And we expect it to stabilize from next year at these lower levels.
Mihir Shah
Understood. Given that there is a tailwind of this and the margin. So just on the margin bid for FY27, what would be a fair range of margin that one should think about, you know, for 4Q specifically and for FY27 specifically.
Mohit Malhotra
Yeah. So while we expect sequential improvement in margins as we go along, but we are still in the budgeting process and working on the exact margins because the commodity prices, all the numbers are just flowing in and we don’t expect too much of inflation coming in. So margin sequentially should be better. But exact range of margin I can’t tell you right now how would that be. Unknown.
Ankush Jain
Margin should be better than this year but exact range I think we’ll have more.
Mihir Shah
Got it sir. Thank you very much. Wishing you all the way.
Ankush Jain
Thank you.
Mohit Malhotra
Thank you.
operator
Our next question comes from the line of Percy from iifl. Please go ahead.
Percy Panthaki
Hi Mohit and team. Congrats on good set of numbers. My first question is on Q4. So the last three years we are seeing in Q4 there is some or the other sort of negative surprise either on the top line or the margin or both. So just wanted to understand Q4 this year. One is can we expect the sales growth to be at least in line with what we have delivered currently? Secondly, can we expect on a y o y basis the ebitda growth for Q4 to be higher than Q4? Sorry, the yoy ebitda growth for Q4 would it be higher than the sales growth for Q4? So what I am trying to say is would there be a EBITDA margin expansion in Q4 after accounting for whatever one offs etc that you might have? Because Q4 is typically a quarter in which maybe the full year doing up etc happens and there are some one offs.
So including that is there some level of confidence that we can show a yoy EBITDA margin expansion combined with a normative level of sales growth that we are clocking currently.
Mohit Malhotra
Right. So I think in terms of the top line first, I think top line Q4 we expect because of some one offs which happened last year and the season not favoring us. We expect the season to favor us and the top line should be better than what the Q4 was last year. Definitely. And we expect the growth to be in high single digits in quarter four. That’s what we are aspiring to deliver. A high single digit growth which will be either in line with quarter three growth or will be little higher than what we’ve delivered in quarter three.
That’s what we expect and we are all aspiring. I don’t know what happens. India is such an unpredictable environment on regulatory one didn’t know this labor code came as a surprise in quarter three. That is not going to happen in quarter four. So and last year there were some one offs which will not happen in the current year. So in EBITDA margins also we anticipate expansions on EBITDA margins yoy from last year to this year there should be expansion while the quarter three is the highest EBITDA margin for us that will be lower than quarter three but yoy there will be improvement keeping Ankles.
You want to add anything?
Percy Panthaki
Got it.
Ankush Jain
So our operating margin will definitely be higher than the revenue and Pat will also we expect to be higher even from operating margin level.
Percy Panthaki
Very helpful. Secondly, just wanted to understand for FY27 as you mentioned earlier that it’s going to be a volume LED growth and therefore at an overall value level there is no price contribution and therefore that. Would sort of puts a dampener on the sales growth. Just trying to understand on the EBITDA how it works out. Because while there is an input cost benefit and that is the reason for the pricing growth to be absent, does it mean that we should be looking at slightly higher margin expansion on a lower sales growth so as the absolute EBITDA growth that we would be looking at should remain unchanged? Or do you think that the absolute EBITDA growth will also suffer a little bit given that the absolute sales growth will sort of be on the lower side? I hope I am clear in my question.
If not, please let me know.
Ankush Jain
So firstly, what we are thinking is while this year it was a combination of price and volume, next year it should be more volume given the GST tailwinds. However, having said that price increase will not be absent because certain price increases which we took in earlier part pre September, they will also have a rollover impact. And further, wherever they are inflation categories, we will definitely take more price increases. So there will be a combination of but it will be more volume and slightly lesser value. Having said that, since we will be moving into lesser inflation and therefore we will have headroom to improve our operating margins and whatever upside in gross margins, we will get a significant portion of that.
We may want to reinvest in advertisement and balance around 2025% of that expansion in gross margin we will give back operating margin. So we see that tailwinds in volume with some price increases and some, you know, inflation at a lower level, things should be better than this year at least as what we think while we are still in the budgeting process and more clarity will emerge over next three to four months?
Mohit Malhotra
Yeah, but just to summarize, I think we are targeting a growth of high single digit on top line and EBITDA improvements over this year. Next year. That’s what in summary I think it is.
Percy Panthaki
Okay, so this high single digit top line growth would be like 80 to 90% of that would be volume led, right? Hello? Am I audible?
operator
You are audible. The management will respond shortly.
Mohit Malhotra
We don’t really know we have a process of making budgets because what happened is in the current in the Quarter three, we’ve not taken any price increases because of GST change and regime change happened because. Hello, can you hear us?
Percy Panthaki
Yeah, yeah.
operator
So you are audible.
Mohit Malhotra
Are we audible?
Percy Panthaki
Yeah, are you audible?
Mohit Malhotra
Hello.
operator
Sir, you are audible. You may proceed.
Mohit Malhotra
Are we audible?
operator
Sir, you are audible, you may proceed.
Percy Panthaki
I think you’ll have to connect the manager.
Mohit Malhotra
Okay, so Basi, what I was saying is that due to GST transition we had pushed a lot of products where we wanted to take a price increase. We did not. Basi, can you hear us?
Percy Panthaki
Yes.
Isha Lamba
I think there’s an audio issue at your end. Could you come back to.
Percy Panthaki
Thank you, I can hear you.
Isha Lamba
Okay.
Mohit Malhotra
Okay. So what we’re saying is that during the GST transition we postponed a lot of price increases wherever there was inflationary raw material because of the GST rate cuts they posted due to the anti profiteering issue. So which we will be taking in the current quarter which should follow through next year also. So there will be price increase to that extent plus there will be volume growth. So we are targeting a high single digit to a low double digit growth next year and with operating margin improvement over current year because we want to go back to our erstwhile 20% operating margin.
So there we attempt to have saving initiatives and price increases even if there is no inflation. So there are brands in which we are market leaders. So we will take inflation, we will take price increases proactively despite being, you know, not so inflationary environment.
Percy Panthaki
Okay. Okay sir, that’s all from me. Thanks and all the best.
operator
Thank you. Our next question comes from the line of Nihal Mahesh Jam from hsbc. Please go ahead.
Nihal Mahesh Jham
Yes sir. Mohit and team, good evening. I had two questions. The first is for the hair oil category. You have been mentioning that one of the reasons the growth has picked up is because of the GST cuts. Just wanted to check at least even in the data do we see that you’re not seeing something similar for toothpaste and some of your other categories? Hello? Am I audible?
operator
Sir, you’re audible. Please stay with us. The management will address your question.
Mohit Malhotra
Sorry, we couldn’t hear you. Could you please repeat?
Nihal Mahesh Jham
Yes, just checking. Am I audible to you? Mohit? Hello? Am I audible?
Mohit Malhotra
Hello? No, we are not. We could not hear. Could you please repeat the question? Sure.
Nihal Mahesh Jham
More. Just checking. Once I’m audible then I’ll repeat my question.
operator
Nihal, please repeat your question. The management would like to hear the question again.
Isha Lamba
Can you please be a little louder?
Nihal Mahesh Jham
So I was asking that. We have mentioned that for the hair Oil category. One of the reasons growth has improved is because of the GST cuts. Checking that for the toothpaste category with the cut in GST has been higher. Have we not seen incremental growth coming because of that? Operator, if there’s an issue for my line, I’ll come back.
operator
Nihal, give us a moment please. We can hear you. Please stay on the line of it.
Mohit Malhotra
We could not hear you actually, sorry for that, but we couldn’t hear you.
Nihal Mahesh Jham
I’m just checking. Am I audible to you? Then I’ll repeat my questions.
Isha Lamba
Please give us one or two minutes. There seems to be some technical glitch we are trying to resolve.
operator
Sorry. Today we might. Ladies and gentlemen, we request you to please stay with us while we sort out the issue with the management line at the moment. Thank you. Sam. Ladies and gentlemen, we thank you for your patience. We have reconnected with the management. Members of the management, are we audible to you? Members of the management, this is the operator. Are we audible to you? Ladies and gentlemen, please stay with us. Ladies and gentlemen, we thank you for your patience. We have reconnected with the management. Nihal, may I request you to please repeat your question?
Nihal Mahesh Jham
Sure. Just checking. Am I audible to the management?
Isha Lamba
Yes, you’re audible.
Nihal Mahesh Jham
I was asking that you mentioned about the growth improvement in hair oil. One of the key reasons was also GST cut for the category with a similar thought. Toothpaste has obviously seen a higher relative cut in gse. So have we not seen an acceleration in growth in that category because of the GST cut?
Mohit Malhotra
Yeah. So there has been acceleration in the growth in toothpaste also as you know, our toothpaste have also grown by double digits in the quarter and there has been a tailwind in oral care. And as I told you, oral care also herbal and natural segment is growing 500 basis points ahead of the non natural segment. So that’s a double. Wamia Miswaak has grown by 25, 26%. So has herbal toothpaste grown. So has Dabur red flaxstrup brand grown? So there has been an impact on the sentiment improvement on purchase of the consumers in oral care also and we’ve taken some price increases when we revamped our portfolio also because of the SLS price increases also.
So there has been impact in oral care as well Home and skin. There’s still no GST impact. So there sale is in the range of around 6 or 6.6% growth. Is there in skin care? Yeah, please.
Nihal Mahesh Jham
Sure. I was just coming from the fact that If I look at say the Q1 growth for oral care, Q2 obviously had the base impact. It is cumulatively last year, this year combined sort of similar even in Q3, whereas in hair oil that is accelerated. So hence I was asking that you’ve not seen a big step up in growth like the hair oil category I’ve seen for you. That’s where I was coming from.
Mohit Malhotra
Oral care step up is not as high because the price increase element in oral care is not as much as in hair oils. Like I told you, in hair oil there’s coconut oil and there’s inflation of around 100% plus. So there is a price increase element which is playing out in hair oils which is not the case in oral care.
Nihal Mahesh Jham
Got it.
Mohit Malhotra
Which is both value and volume mix.
Nihal Mahesh Jham
Shamhat. Got that part. The second question was on the beverage category. If you could just comment on how the competitive intensity is. And also the drinks portfolio we had an aspirational sort of reaching a 500 crore top line there. What is the current scale of that? If you could just give a sense of that.
Mohit Malhotra
Drinks portfolio approximately the revenue is around 200 crores ballpark. So we are in a good space in drinks and out of home portfolio is sequentially doing well. And out of home portfolio was the one which was actually impacted by the season not favoring us in the summer. The rains were unprecedented in the first quarter. So out of home got impacted. But if you look at the current quarter and sequential improvement in out of home has been better. Out of home portfolio has grown by around 5% in the current quarter despite being acute winters also. So we expect our drinks portfolio pet bottles also to do well.
To bolster the impact of season. We’ve also introduced a 10 rupee, 20, a 50 rupee and 100 rupee price point also in drinks. So that should also help us in the season going forward. And with the GST cuts which have actually happened for the beverage category as compared to the carbonated category, the price index premium of juices over the carbonated has also significantly reduced. That should also be a sort of helping factor.
Nihal Mahesh Jham
Understood. Mohit. That was it from my side. Thank you so much and wish you all the best.
Mohit Malhotra
Thank you.
operator
Thank you. Our next question comes from the line of Ajay Thakur from Anandrati Share and Stock Brokers limited. Please go ahead. Hello Ajay. You are audible. You may proceed. Ladies and gentlemen, the current participant seems to have disconnected from the queue. Our next question comes from the line of Hareet Kapoor from Investech. Please go ahead.
Harit Kapoor
Hi, Good Evening. I just had two questions. First is on this GST bit again. So would it be fair to say more that going into quarter four you should realize before you kind of volume growth benefits on lower unit packs etc in Q4 because October still had a transition and if yes, you know, how much could that kind of contribute to as far as volume growth is concerned? That’s the first question. And the second question was on gross margin. So you did mention that there was some pricing that you know you couldn’t take because obviously you know you don’t want to be looked as at profiteering going into next year. What is the quantum of pricing that you think you will need? Also it seems like the India gross margins are actually going to be. The base is quite comfortable. So going into say Q4, Q1, Q2, at least standalone numbers as you report. So you know. Investors are belief that you need to take kind of incremental pricing, you know, going forward. So that’s my, those are my questions. Thanks.
Mohit Malhotra
So on account of gst, we definitely see volume growth moving up I think in the category and also the inflation coming down. So we will see volume growths moving up in quarter four and sequentially going forward in quarter one and quarter two also. So and as far as pricing is concerned, some. Can you hear us?
Harit Kapoor
Yeah, Movita, you were just. It was slightly blurry but I can hear you now.
Mohit Malhotra
Yeah. Hello. So I think pricing growth will also be better as compared to last year and the gross margin improvement will also be better on account of pricing coming in which we have pushed out, which will be followed through into next year also.
Harit Kapoor
Okay, could you just give a sense. Of what the weighted weighted pricing would be that you’re either pushed out or looking to push out into Q4 which carry forwards into Q FI FY27 as well.
Ankush Jain
So what you’re asking is in Q1 and Q2 the price increases, correct?
Harit Kapoor
Yeah, I’m asking how much of pricing are you planning to.
Mohit Malhotra
A 2% price increases which is what will happen in the quarter four which will be carried forward in next year as well. Yeah, broadly.
Harit Kapoor
Okay. Okay, thank you very much.
Ankush Jain
Thank you.
Mohit Malhotra
Thank you.
operator
And our next question comes from the line of Ajay Thakur from Anandrati Share and Stock Brokers limited. Please go ahead.
Ajay Thakur
Hi sir, thanks for taking my question. I got dropped out earlier. Yeah. So I wanted to just check on the hair oils growth. If you were to get a bit more color in terms of how the coconut oil versus the non coconut hair oil volumes have trended during the quarter so that can give us maybe some sense of, you know, how the growth has been in the two different segments.
Mohit Malhotra
Yeah. So both the segments, whether it’s coconut oil or it is perfumed hair oil, both have grown well for us and we’ve registered a market share increase of around 193bps in overall hair oils. The perfumed hair oils also have grown in double digits for us, around 16, 17% growth and coconut oils have grown in the range of around 29% for us. And the Hindi speaking belt, we are almost one out of every two households in the Hindi speaking belt is now a Dabur hair oil user and we’ve got an exit market share of 20% in hair oils now.
So it’s ever highest market share that we registered in hair oils in both perfumed as also in coconut. So that’s where we are. Yeah, thanks.
Ajay Thakur
Thanks. That’s quite helpful. The second question was more on the the NPD said we had launched maybe around one and a half two years back, wanted to get a sense on how they are kind of performing. If there’s any update on them and what are the plans for scaling them up further. Some details would be helpful, thank you.
Mohit Malhotra
Right, so NPD percentage for the business is roughly in the range of around 2% to 3%. As you know, we had engaged McKinsey and we’ve done an exercise so we rationalized a lot of tail products which were there. That has been rationalized. That said, a couple of NPD’s are really doing very well for us. One is health juices that we had launched. Health juices are giving a growth of around 17 to 18% for US and all the variants in health juices are doing well. Drinks have performed exceedingly well for us. But for the season backlash, I think the drink portfolio is doing well.
Ghee which we had launched as a NPD a couple of years back is giving a growth of 33%. Edible oils that we had launched is giving a growth of roughly around 50% for us. So I think across the board our NPD are doing well. Our red gel which we had launched also showing a good traction in the marketplace. That said, Cool King is what we launched in the hair oil piece is doing well in healthcare. We launched variants of Chavan Prash couple of years back. Sugar free is doing exceedingly well. Now the variance contribution to the business is around 13 to 14% and they are growing at 2x3x of what Chavanprash is doing.
Good. Chavanprash is doing very well in Honey two variants of Sundarban and Organic Honey are again trending exceedingly well for us. In glucose the variants are doing well but again the season did not favor us so therefore I can’t comment upon how they will do on account of the season basically. And we have more plans in the OTC range. Like in Shilajit we had launched raisins and drops. Both of them are growing in very high double digits for us and E commerce is actually a platform where they are doing exceedingly well.
Ajay Thakur
Understood sir. Thanks.
Mohit Malhotra
These are some of the examples of NPD’s that I talked about.
Ajay Thakur
Thanks for.
operator
Thank you. As there are no further questions, I would now like to hand the conference over to Ms. Isha Lamba for closing comments. Over to you ma’. Am.
Isha Lamba
I would like to thank all the participants for joining today’s call. The webcast recording and transcript will be available on our website. Thank you and have a great evening ahead.
operator
Thank you on behalf of Dabur India Limited. That concludes this conference. Thank you all for joining us. You may now disconnect your lines.