Dabur India’s shares fell over 4 percent. The stock was also the top drag on the FMCG index, which slipped 0.2% on April 4.

Dabur India shares have lost 7 per cent in the last six months and 6.14 per cent in the last one year.

The company said that its India business and home and personal care segment is expected to grow in high-single digits and rural demand picked in the quarter, helped by lower prices of staples.

Dabur also forecast double-digit percentage growth in constant currency terms for its international business. This will be led by the Middle East and North Africa (MENA) region, Egypt, and Turkey, it said as overseas markets account for about a quarter of its revenue.

The company said, “Demand trends remained sluggish during the quarter and rural growth has picked up on price rollbacks in staples which led to the gap between rural and urban narrowing. With a positive outlook for the rabi crop harvest and monsoon forecast to be normal, we expect consumption to pick up in the coming months.”