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Dabur India has released a preliminary update on its performance and demand trends for the quarter ended September 30, 2025 (Q2 FY26), highlighting that the recent GST reforms implemented by the Government represent a significant step towards improving affordability and enhancing purchasing power.Following this, the shares of Dabur India were trading 1% higher at Rs 498 on the BSE.Dabur stated that categories such as oral care, juices, hair oils, shampoos, digestives, OTC, branded ethicals, and culinary—which together comprise approximately 60% of Dabur’s India business—are set to benefit from a reduction in GST rates from 12%/18% to 5%.As of the reporting quarter, ~85% of Dabur’s portfolio is now taxed at 5%, which the company views as a key positive. Dabur reiterated its commitment to passing on the benefits of the reduced GST rates to consumers.However, the GST Council’s announcement in September 2025 led to short-term disruption, as consumers deferred purchases to benefit from lower MRPs and distributors worked to clear higher-priced inventory.This impacted sales during the month of September and, by extension, Q2 FY26. Despite this, Dabur’s non-GST impacted brands such as Dabur Honey, Anmol Coconut Oil, Gulabari, and Hajmola Jeera performed well. The company stated that retail offtakes remained resilient, allowing it to sustain market share gains in 90% of its portfolio.In the Home & Personal Care segment, the Oral Care portfolio continued its strong growth trajectory and is expected to deliver double-digit growth, driven by products like Red Toothpaste and Meswak, supported by on-ground execution and marketing efforts.The Skin Care portfolio is anticipated to grow in high single digits, led by brands such as Gulabari and Oxy. In Hair Care, Shampoos are expected to post high-single digit growth, led by Vatika, while Hair Oils are expected to see mid-single digit growth. The Odonil franchise within Home Care also performed well.In the Healthcare segment, brands such as Dabur Honey, Honitus, the Hajmola franchise, and Health Juices are expected to report double-digit growth, supported by strong product portfolios.The Foods & Beverages segment, particularly Culinary, is also expected to record double-digit growth, with strong performance in Oils & Fats. The Beverages business reported robust growth of 30%+, driven by Activ juices and Coconut water.However, the overall beverage portfolio was impacted by higher-than-expected rainfall and floods in July and August.Across channels, E-commerce (including Quick Commerce) is projected to grow in double digits, while Modern Trade maintained its growth trajectory.In the international business, key regions such as MENA, Turkey, Namaste, and Bangladesh performed well, while Nepal was adversely affected by political unrest. The overall international business is expected to post mid-single digit growth in both INR and constant currency terms.For the quarter, Dabur expects consolidated revenue to grow in mid-single digits, with operating profit growth broadly in line with revenue.The company concluded by noting that with supportive macroeconomic conditions and the recent GST rate cuts, consumption is expected to strengthen, and revenue growth is anticipated to regain momentum in the upcoming quarters.Also read: FII bears have never been this harsh on Nifty, but that may be the buy signal! Here's why(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Star India cricketer Smriti Mandhana continues to top the ODI batting charts though the charismatic batter's lead has reduced following two underwhelming performances in the ongoing ICC Women's World Cup in India and Sri Lanka. Mandhana, with 791 rating points, is 60 points ahead of England's Nat Sciver-Brunt. The Indian, who smashed consecutive centuries in the three-match WODI series against Australia just before the World Cup, has contributed 8 against Sri Lanka and 23 versus Pakistan in the showpiece event. Australia's beth Mooney occupies the third spot with 713 rating points. South Africa's Tazmin Brits (706) and Australia's Ashleigh Gardner (697) have made substantial gains following World Cup centuries against New Zealand to move up to fourth and fifth spots respectively and close the gap on Mandhana. While Tazmin rose two places, Gardner gained seven spots to reach a new career high. New Zealand skipper Sophie Devine too has jumped seven spots to eighth, while Pakistan left-hander Sidra Amin has also equalled her career-best ranking of 10th following her 81 against India in Colombo on Saturday. England's Sophie Ecclestone is leading the latest bowling charts with 792 rating points, while spinner Deepti Sharma (640) is the only Indian in the top-10 at No.6, having dropped a spot.

The Reserve Bank of India (RBI) could lower its benchmark repo rate by another 25 basis points to 5.25% in December 2025, despite recent signals from Governor Sanjay Malhotra suggesting limited monetary policy space, according to a report by BMI, a Fitch Solutions company.In its latest report titled “Reserve Bank of India Not Done Easing in 2025”, BMI said it expects inflation and growth to fall short of the RBI’s projections, creating room for another rate cut this year. The RBI had already surprised markets in June with a larger-than-expected 50-basis-point reduction, bringing the repo rate down to 5.5%.“Despite Governor Sanjay Malhotra seemingly closing the door on further rate cuts in the coming months, we expect another 25bps in December 2025,” the report stated.Also Read: World Bank raises India’s FY26 growth forecast to 6.5%, cites tariff risks aheadFurthermore, BMI said that India’s real policy rate will remain high, even with an additional cut, at around 2.5%, underscoring that “the current stance is overly restrictive relative to economic conditions.”Inflation and growth outlookBMI forecasts consumer inflation to average 3.0% in FY26, below both the RBI’s 3.7% estimate and its 4.0% medium-term target. "Multiple factors, including declining global commodity prices, beneficial weather conditions supporting agricultural output, weakening domestic demand pressures and limited wage growth despite tighter labour markets, will ensure that inflation remains well within the RBI's target 2.0-6.0% range." <iframe src="https://economictimes.indiatimes.com/dynamicchart?tab=RETINF&year=10" width="100%" height="520" frameborder="0" scrolling="yes" border="0"></iframe>On the growth front, BMI projects India’s GDP to expand by 6.0% in FY2025–26, lower than the RBI’s 6.5% estimate, suggesting that economic activity remains weaker than policymakers acknowledge. “We expect Q3 2025 data to reveal economic weakness more pronounced than currently recognised by policymakers, justifying the additional cut we anticipate in December following a likely pause inAugust,” the report added.<iframe src="https://economictimes.indiatimes.com/dynamicchart?tab=GDP&year=10" width="100%" height="520" frameborder="0" scrolling="yes" border="0"></iframe>Global yield differentials and rupee outlookThe report notes that by the end of 2025, the RBI would have eased policy by 125 basis points, compared with a 50-basis-point reduction by the US Federal Reserve. As a result, BMI expects bond yield differentials to move in favour of the US dollar in the coming months.BMI highlighted that the rupee has already fallen 2.3% against the dollar since July 1, trading around ₹87.5 per USD as of August 28. The depreciation was partly attributed to the impact of Donald Trump’s tariff measures on India.However, the report added that investor confidence in the US has also been shaken by “Trump’s erratic policymaking” and concerns over the independence of the Federal Reserve, tempering the dollar’s strength. BMI now expects the rupee to weaken slightly to ₹89.5 per USD by end-2025.