Volumes grew 25.4% y-o-y on a base of -14.6% (Q3 noticed 18.1% y-o-y soar on a base of 5.6% y/y). Dabur India (Dabur) undershot our estimates posting y-o-y development of 25.3%/25.6%/25.1% in Q4FY21 income/Ebitda/adjusted PAT. Home volumes at 25.4% y-o-y (base of -14.6%) too belied our estimate, partially on account of a correction within the