Dabur Vs ITC Q2FY26 Earnings Results: Which Company Has A Better Report Card?

Written by: Aayushi ChaubeyUpdated on: 31 Oct 2025, 4:46 pm IST

ITC and Dabur have posted steady Q2FY26 earnings results. Here’s a simple five-point comparison to see which FMCG major performed better.

India’s leading FMCG companies, ITC Ltd and Dabur India, reported steady performances for the July–September quarter of FY26 (Q2FY26). Despite sectoral headwinds such as GST rate changes and sluggish demand recovery, both companies managed to maintain stable growth in their core businesses.

Comparison of Dabur Vs ITC Q2FY26 Earnings Results

ITC’s net profit rose 2% year-on-year (YoY) to ₹5,179.8 crore, while revenue fell 3.4% to ₹18,021.25 crore. Its operating profit (EBITDA) increased 2% YoY to ₹6,252 crore, with margins at 34.7%.

Dabur, on the other hand, saw a 6% rise in profit to ₹452.5 crore and a 5.4% increase in revenue to ₹3,191.32 crore. EBITDA grew 6% to ₹588.07 crore, and margins improved slightly to 18.4%.

Dabur Share Price Vs ITC Share Price

In 2025 so far, ITC share price has been under pressure, falling over 14% year-to-date (YTD), making it one of the top losers in the Nifty FMCG index. Dabur India share price performed relatively performed better, down only 1.7% YTD. However, both stocks showed signs of recovery in October, with ITC rising 4.28% and Dabur gaining 2.09% during the month.

Dabur Vs ITC: Comparison of Segment-Wise Growth

ITC’s cigarette business grew 6.8% YoY, and its FMCG segment rose 7%, supported by stable demand in packaged food categories. The paperboard business also increased by 5%.

Dabur’s performance was led by its consumer care division, which grew 6%, and a 14.3% jump in its oral care (toothpaste) segment. Its Real Activ juice range saw a sharp 45% rise, though the food division remained flat.

Sector and Market Outlook

The FMCG sector faced near-term pressure due to GST rate rationalisation and premium valuations, limiting index-level gains. Analysts expect the sector to recover in the second half of FY26, driven by festive demand, rural consumption rebound, and easing input costs.

Both ITC and Dabur are positioned to benefit from these trends, with ITC expected to gain from its diverse product portfolio, while Dabur may see stronger volume recovery through wider distribution and rural demand.

Conclusion

Both ITC and Dabur delivered resilient Q2FY26 results despite a challenging environment. ITC continues to show strength in profitability and scale, while Dabur demonstrates faster revenue growth and product innovation. For investors with a demat account, ITC offers stability, whereas Dabur provides growth potential. The better choice depends on whether one prefers steady returns or higher growth momentum in the coming quarters.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

Published on: Oct 31, 2025, 11:14 AM IST

Aayushi Chaubey

Aayushi Chaubey is a finance enthusiast with a year of experience in the market research industry. She loves to decipher the impact of real-world developments on stock markets and how investors can make smart investment decisions to meet their long-term goals.

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