CRISIL reaffirms 'AAA/Stable' ratings on the bank facilities and debt programmes of Dabur India (Dabur). The ratings continue to reflect Dabur's strong market position in India's fast-moving consumer goods (FMCG) industry, particularly in the natural and herbal products segment, and its healthy financial risk profile.

These rating strengths are partially offset by the intensifying competition in the FMCG industry.

CRISIL believes that Dabur will maintain its healthy financial risk profile and its strong market position in its various product categories, over the medium term. The outlook may be revised to 'Negative' if Dabur makes larger-than-expected debt-funded acquisitions, or there is a steep decline in its market shares in its key product categories, thereby adversely affecting its credit risk profile.

Shares of the company declined Rs 3.65, or 1.93%, to trade at Rs 185.50. The total volume of shares traded was 43,437 at the BSE (1.52 p.m., Tuesday).