Dabur India Limited has restructured its senior management hierarchy by appointing Herjit S. Bhalla as Chief Executive Officer - India Business, effective April 23, 2026. The Board of Directors approved this change on July 29, 2026, resulting in three key executives ceasing to be classified as Senior Management Personnel. This move consolidates reporting for the domestic business under Bhalla, who reports directly to the Global Chief Executive Officer, streamlining decision-making processes.

The Board meeting, held on July 29, 2026, from 02:00 P.M. to 04:30 P.M., formalized these changes pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to BSE Ltd. and the National Stock Exchange of India Ltd. Ashok Kumar Jain, Group Company Secretary and Chief Compliance Officer, signed the filing dated July 30, 2026.

Senior Management Changes

The restructuring alters the reporting lines for three business heads who now report to Mr. Herjit S. Bhalla. Consequently, they are no longer designated as Senior Management Personnel under the company’s governance framework, although they continue in their respective functional roles.

Regulatory Compliance

The company cited SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, issued on July 11, 2023, and last updated on January 30, 2026, in its disclosure. The filing includes Annexure A detailing the particulars of the changes, including the reason for change and the effective date of July 29, 2026.

What the Numbers Show

The restructuring centralizes authority for the India business under a single Chief Executive Officer, Herjit S. Bhalla. By moving three key directors—covering Sales, Healthcare, and HPC & Foods—under his direct reporting line, the company streamlines decision-making for its domestic operations. While the three executives retain their operational roles, their removal from the "Senior Management Personnel" category indicates a shift in governance responsibility to the newly appointed CEO.

Dabur India has laid out a comprehensive strategic guidance following its latest concall, targeting double-digit revenue growth for the full year FY27 at the consolidated level. The company targets a double-digit increase in sales volume and expects PAT growth to outpace revenue growth by FY27. Management has also guided for better margins in FY27 compared to FY26, with premium products expected to support EBITDA margins despite rising input costs, signaling confidence in its operational efficiency and demand outlook.

Profitability and Margin Outlook

On the profitability front, Dabur India expects PAT growth to outpace revenue growth by FY27. Management has guided for improved margins in FY27 compared to FY26, with premiumization acting as a key support to EBITDA margins even as input cost pressures persist. However, management has noted that this target is contingent on the prevailing geopolitical situation and inflationary pressures, particularly those linked to crude-derived input prices. This measured guidance reflects a balanced approach to managing external macroeconomic risks while pursuing growth.

D2C Expansion and Dabur Ventures

A key highlight of the guidance is the company's commitment to expanding its direct-to-consumer (D2C) footprint through Dabur Ventures. The following table summarizes the key parameters of this initiative:

Dabur Ventures has been allocated INR500 crores, with the strategic intent to acquire one or two sizable D2C companies within a three-year vision period. Alongside this, the company's newly launched nutraceutical brand, Siens, is expected to reach an exit Annual Recurring Revenue (ARR) of approximately INR50 crores by year-end, reflecting early momentum in the premium health and wellness segment.

Hair Oil Business Momentum

The hair oil segment has emerged as a strong growth driver for Dabur India. The business recorded 18% value growth in Q1 FY27, supported by 8% volume growth, and management has projected that double-digit growth will be maintained in the upcoming quarters. This performance underscores the segment's resilience and the effectiveness of the company's brand investment strategy.

Go-to-Market and Revenue Growth Drivers

Management expects a sequential acceleration in revenue growth, supported by several strategic levers:

• Stable consumption trends providing a favorable demand environment
• "Saksham" go-to-market initiative aimed at strengthening distribution and market reach
• Focused investment in premiumization and innovation to drive higher-value product adoption
• Sustained brand building efforts to reinforce consumer loyalty and market positioning

These initiatives collectively form the backbone of Dabur India's strategy to deliver consistent and improving financial performance through FY27.