Dabur India Limited has filed its quarterly compliance certificate with stock exchanges, fulfilling mandatory regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018. The certificate covers the quarter ended March 31, 2026, and was submitted to both BSE and NSE on April 08, 2026.

Regulatory Compliance Certificate Details

The certificate was issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 by KFin Technologies Limited, which serves as the company's registrar and share transfer agent. The filing demonstrates Dabur India's commitment to maintaining regulatory compliance and transparency in its operations.

Certificate Confirmation and Compliance

KFin Technologies Limited confirmed that during the reporting period from January 1, 2026 to March 31, 2026, all dematerialization processes were handled in accordance with regulatory requirements. The registrar confirmed completion of several key compliance activities:

• Confirmation of demat requests within 15 days of receipt from depository participants
• Verification that securities in certificates were listed on appropriate stock exchanges
• Proper mutilation and cancellation of security certificates after verification
• Substitution of depository names in the register of members for approved demat requests

Corporate Governance and Documentation

The certificate was signed by Ashok Kumar Jain, Group Company Secretary and Chief Compliance Officer of Dabur India Limited. The document includes digital signatures and proper authentication, reflecting the company's adherence to modern corporate governance practices.

This quarterly compliance certificate filing represents part of Dabur India's regular regulatory obligations, ensuring transparency and adherence to SEBI guidelines for listed companies. The timely submission demonstrates the company's commitment to maintaining proper corporate governance standards and regulatory compliance.

Dabur India has received a Neutral rating from Goldman Sachs, with the global investment bank setting a target price of ₹490 for the consumer goods company. The brokerage's assessment reflects a balanced view of the company's current performance and future prospects.

Revenue Growth and Margin Performance

Goldman Sachs expects mid-single digit revenue growth for Dabur India, accompanied by margin expansion. This combination suggests the company is managing to improve operational efficiency while maintaining steady top-line growth.

Segment-wise Performance Analysis

The brokerage highlights mixed performance across different business segments. The Home and Personal Care (HPC) division stands out with strong mid-teens growth, indicating robust consumer demand in this category. However, the healthcare and Food & Beverages segments are experiencing weakness, creating headwinds for overall performance.

Key Segment Highlights:

• HPC Segment: Demonstrating strong mid-teens growth
• Healthcare Division: Facing current weakness
• Food & Beverages: Experiencing challenging conditions
• India Operations: Recovery showing high-single digit growth

International Operations and Market Challenges

Goldman Sachs notes the impact from Middle East international operations on the company's overall performance. This international exposure adds complexity to the company's growth trajectory and contributes to the mixed outlook.

Recovery Outlook

The brokerage characterizes the expected recovery as "uneven but gradual," suggesting that while improvement is anticipated, it may not be consistent across all segments and geographies. This measured outlook supports the Neutral rating assigned to the stock.

The ₹490 target price reflects Goldman Sachs' assessment of the company's current valuation relative to its growth prospects and operational challenges. The rating suggests that while the stock may not significantly outperform, it maintains fundamental stability in the consumer goods sector.