Emami vs Dabur Q2 Results: Profit, Revenue, Dividends and Target Prices
Shares of fast-moving consumer goods majors Emami and Dabur India surged nearly 7% over the past week following the release of their second-quarter financial results for FY27. The quarterly corporate disclosures presented a distinct divergence in profitability between the two homegrown personal care titans. While Emami recorded a marginal 1.92% annual contraction in consolidated net profit, Dabur India's net profit rose 12.09%. Both consumer goods enterprises coupled their financial reporting with interim dividend payouts for eligible equity shareholders. Market analysts closely examined which FMCG brand established superior operational strength across quarterly sales volume, operating margin resilience, and cash payouts.
Financial Metrics: Revenue Growth and Bottom-Line Divergence
In the quarter ending September 2026, Emami posted a consolidated net profit of Rs 145.50 crore as input costs rose. Elevated raw material expenses and normalized effective tax rates dampened net earnings during the period, according to LiveMint. However, Emami demonstrated robust top-line momentum as net operational revenue climbed 36.2% year-on-year to reach Rs 1,087.65 crore. Conversely, Dabur India expanded its consolidated net profit to Rs 498.57 crore, climbing from Rs 444.79 crore reported in the corresponding prior-year quarter. Dabur's net operational revenue grew 11.74% annually to Rs 3,563.07 crore, advancing from Rs 3,191.32 crore recorded twelve months earlier. Emami experienced raw material cost pressures on operating margins during Q2 FY27, though consolidated EBITDA increased 25% to INR 222 crores and profit before tax grew 29% to INR 194 crores, according to GuruFocus.
Shareholder Dividend Distributions and Record Dates
Alongside operational earnings, both consumer product boards declared interim dividend distributions to reward equity investors. Emami's board of directors declared an interim dividend payout of Rs 5 per equity share for the current financial year. The company established November 13 as the definitive record date to determine shareholder eligibility for the dividend distribution. Dabur India's board of directors recommended an interim dividend of Rs 3.50 per equity share. Dabur scheduled an earlier record date of November 9 to identify eligible investors entitled to the payout.
Brokerage Valuations and Share Price Trajectory
Domestic institutional brokerage Motilal Oswal issued differentiated stock ratings and target valuations for the two consumer staples companies. For Dabur India, the brokerage reiterated a Neutral stance with a target price of Rs 425 per share based on 30 times its estimated earnings per share for the 12 months to September 2028. Dabur's planned operational strategy refresh over the coming six months will provide clearer visibility regarding medium-term growth, according to TradingView. For Emami, Motilal Oswal maintained a Buy rating with a target price of Rs 475 per share, citing attractive valuations of 19x and 16x future earnings. On the stock exchanges, Emami shares concluded Friday at Rs 387.05 after delivering 3.75% in two weeks, while Dabur India settled at Rs 385.50 following a 4.37% weekly rise. Emami's domestic sales surged 49% powered by 43% volume growth in Q2 FY27, while its strategic investments portfolio expanded 73% to generate approximately 26% of domestic business, according to GuruFocus. Dabur India recorded 10.7% growth in its domestic FMCG business during Q2 FY27, driven by 5.5% volume growth and 5.2% price growth, according to GuruFocus.