Dabur India has forecasted a mid-single-digit decline in its second-quarter revenue, marking its first drop in more than four years. The company anticipates a mid-single-digit decline in consolidated revenue for the quarter ending September 2024. This downturn is attributed to weak demand in its food and beverages segment, as well as the impact of heavy rains and floods on out-of-home consumption and consumer offtake. Additionally, Dabur's operating margin is expected to decline in the mid to high teens due to deleveraging and continued investment behind brands. The company also plans to correct distributor inventory, which will affect its topline. Brokerages have reacted to this update with mixed ratings: Morgan Stanley maintains an Equal-Weight rating with a target price of Rs 772, while Investec maintains a Hold rating with a target price of Rs 368. Following the weak Q2 update, Dabur's share price slipped 8% to Rs 571.25 per share, hitting a four-month low.