Double Materiality Assessment
In FY 2024–25, Dabur transitioned to a Double Materiality approach, recognising that sustainability issues not only affect our business performance (financial materiality) but are also shaped by the impact our operations have on the environment and society (impact materiality). This shift enables us to better align with evolving global standards and stakeholder expectations, while ensuring that our strategies are resilient, responsible, and future-ready.
Our updated Materiality Assessment process involved a comprehensive evaluation of internal and external stakeholder inputs, industry trends, and emerging ESG risks and opportunities. By integrating both financial and impact perspectives, we prioritised issues that were critical to our long-term value creation and sustainability commitments. This enhanced understanding empowers Dabur to make more informed decisions, strengthen transparency in reporting, and drive shared value for all stakeholders.
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Value Creation Model
Values & Principles
- People Development
- Ownership
- Integrity
- Consumer Focus
- Innovation
- Passion for Winning
- Team Work
Enabling Behaviours
- Faster & Agile: Digitised warehousing (SAP WMS), agile value chain realignment with new partners in Indore and Guwahati
- Future Focus Achieved ~85% water positivity and 61% renewable energy use well ahead of public targets
- Tech & Data Driven Implemented IIOT, SCADA, RPA, and a company-wide data lake to enhance decision-making and efficiency
- Entrepreneurial: Backward integration for herbs and honey, vendor diversification, Real Zero beverage innovation
- Execution Excellence 905+ safety/ environment Kaizens; multi-site automation and infrastructure upgrades completed
- Respect Maintained high local hiring ratios (up to 93%); enhanced DEl initiatives and 360° feedback system
- Fearless Approach Rapid piloting of new formats (e.g., EV/CNG logistics, Real Zero), de-risking seasonal and regulatory challenges
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Risk Management
Dabur operates in a dynamic environment, and to stay competitive and achieve sustainable growth, we actively identify, evaluate, and address potential risks. Our long-term value creation and our ability to remain competitive and resilient hinge on how well we identify, assess, and respond to both risks and emerging opportunities.
We have institutionalised a structured risk governance framework that integrates risk thinking into strategic and operational decision-making. Responsibility for managing risks lies with line management, while the risk function supports by facilitating discussions and monitoring action plans. Significant risks are escalated through well-defined reporting channels to ensure timely oversight and response. This proactive and layered approach helps us safeguard stakeholder interests, enhance organisational agility, and future-proof our business against volatility.
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Strategy
Dabur's legacy is deeply rooted in the trust of generations, built over nearly one and a half centuries through our unwavering commitment to quality, authenticity, and innovation. As we look ahead to the next phase of our growth journey, we are entering a transformative phase guided by a refreshed strategic vision - one that positions us to achieve sustainable double-digit CAGR in both top-line and bottom-line by FY 2027-28.
Our renewed strategy is designed to harness the strength of our core while unlocking future-ready engines of value creation. It represents a fine balance between stability and disruption, scale and agility, and heritage and modernity. The strategic blueprint is anchored on seven pivotal pillars that will steer Dabur into its next growth orbit.
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Financial Capital
Financial capital forms the bedrock of our business model. At Dabur, we emphasise maintaining a strong financial foundation to support our growth ambitions and create value for our stakeholders. To achieve this, we continue to prioritise stable and resilient operating cash flows.
We are driven by our commitment to creating stakeholder value and enriching consumer experiences. Recognising that a strong balance sheet is crucial for the organisation’s long-term stability and success, we have consistently implemented measures to reinforce the same year after year, leading to a continual improvement in our financial health. Our rigorous financial management approach enables us to assess funding requirements effectively, ensuring support for ongoing operations and sustainable growth opportunities.
Our financial capital is mainly sourced from the surplus generated through our ongoing operations and investments. We strategically allocate these funds to expand manufacturing capabilities, drive innovation through new products and technologies, and strengthen our market presence. This approach equips us to adapt to changing business environments while maintaining and advancing our competitive advantage.
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Manufactured Capital
Dabur is today one of the most diversified players in the FMCG sector, with a product portfolio that encompasses traditional Ayurvedic products to mainstream FMCG categories such as hair oils, toothpastes, shampoos, and beverages in multiple pack sizes and formats. This breadth has required us to build a highly agile and resilient manufacturing network across nine countries — India, the UAE, Nepal, Bangladesh, Sri Lanka, South Africa, Nigeria, Egypt, and Turkey — ensuring that Dabur’s popular brands and products reach consumers in over 120 countries.
In FY 2024-25, Dabur took a significant step in expanding its domestic manufacturing footprint by signing a facilitation Memorandum of Understanding (MoU) with the Government of Tamil Nadu to establish its first manufacturing facility in South India. Located in SIPCOT Tindivanam providing quick connectivity to key marketplaces in South, this state-of-the-art, multi-category unit is designed to be one of Dabur’s most modern and environmentally responsible facilities. The Phase 1 investment of ₹135 Crore is expected to scale up to ₹400 Crore over five years, generating direct employment for around 250 people and thousands of indirect jobs.
Strategically positioned to serve the growing demand in South India, the facility will initially manufacture products such as Dabur Honey, Red Toothpaste, and Odonil Air Freshener, with plans to diversify its portfolio in subsequent phases. The site will also source raw and packaging materials from the local market benefiting the local vendor base and farmers.
All Dabur manufacturing locations continue to embrace a culture of continuous improvement through the "Kaizen" mindset. This innovation-driven mindset, coupled with investments in advanced manufacturing technologies and sustainability practices — including energy-efficient construction and effluent treatment systems — positions Dabur’s manufacturing ecosystem as agile, future-ready, and environmentally conscious.
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Human Capital
At Dabur, we recognise that our employees are the cornerstone of our success. We are committed to implementing initiatives aimed at enhancing wellbeing, work-life balance, and professional development, ensuring a supportive environment that nurtures both personal and organisational success. Through these efforts, we enable our employees to overcome challenges and embrace opportunities, driving long-term growth and achievement.
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Natural Capital
Our approach to Natural Capital reflects a deep-rooted commitment to environmental stewardship and long-term sustainability. Guided by our ambition to achieve Net Zero Emissions by 2045, we continue to embed energy efficiency and renewable energy adoption across our manufacturing sites and offices. These efforts are not only reducing our environmental footprint but also building a resilient and future-ready energy framework. By integrating sustainability into our core operations, we are actively contributing to a cleaner, greener planet for generations to come.
As part of our commitment to responsible operations, we also ensure that our manufacturing units and offices are not located in or around ecologically sensitive areas such as national parks, wildlife sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, or coastal regulation zones.
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Social & Relationship Capital
Our legacy is built not just on our products, but on enduring relationships — with communities, consumers, investors, partners, and employees. These relationships form the cornerstone of our identity, built on trust, transparency, and a shared commitment to creating long-term value.
We believe that a responsible business must be anchored in strong ethics and operate with integrity. Our zero-tolerance approach to fraud, bribery, and corruption, along with our commitment to data privacy and transparent disclosures, reflects our dedication to doing what is right, even beyond regulatory requirements. We maintain open channels of communication with all stakeholders, ensuring that their voices inform our decisions and shape our actions. Through robust grievance redressal systems, proactive community engagement, and a culture of mutual respect, we continue to strengthen the social fabric that binds us to the people we serve.
As we look ahead, we remain steadfast in our vision: to be a catalyst for positive change, dedicated to the health and wellbeing of every household.
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Intellectual Capital
Our intellectual capital is the cornerstone of our innovation-led growth strategy. It encompasses the collective knowledge, technical expertise, and creative capabilities embedded within our people, systems, and processes. This capital fuels our ability to develop differentiated products, enhance operational efficiencies, and respond swiftly to evolving consumer needs.
In FY 2024–25, we continued to strengthen our intellectual capital through focused investments in research and development, product innovation, and knowledge-sharing platforms. Supported by a robust distribution network and an unwavering commitment to quality, our intellectual assets not only fuel product development and operational excellence but also reinforce our ability to deliver long-term value to consumers and stakeholders alike.
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Annual Report 2024-25
Social & Relationship Capital
Our legacy is built not just on our products, but on enduring relationships — with communities, consumers, investors, partners, and employees. These relationships form the cornerstone of our identity, built on trust, transparency, and a shared commitment to creating long-term value.
We believe that a responsible business must be anchored in strong ethics and operate with integrity. Our zero-tolerance approach to fraud, bribery, and corruption, along with our commitment to data privacy and transparent disclosures, reflects our dedication to doing what is right, even beyond regulatory requirements. We maintain open channels of communication with all stakeholders, ensuring that their voices inform our decisions and shape our actions. Through robust grievance redressal systems, proactive community engagement, and a culture of mutual respect, we continue to strengthen the social fabric that binds us to the people we serve.
As we look ahead, we remain steadfast in our vision: to be a catalyst for positive change, dedicated to the health and wellbeing of every household.
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