Hindustan Unilever Limited (HINDUNILVR)
₹1,893.80 -0.17% last close, 16 Oct
Q2 FY27 results
📅 Next results: 28 Oct 2026 (board meeting)Hindustan Unilever Limited's board meets on 28 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Hindustan Unilever's revenue was ₹17,341 Cr (+5.0% year on year, +6.1% on the previous quarter), and net profit ₹2,680 Cr (-3.2% year on year); the operating margin was 22.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹17,341 | +5.0% | +6.1% |
| Operating profit | ₹3,947 | +6.2% | +2.9% |
| Net profit | ₹2,680 | -3.2% | -10.5% |
| EPS (₹) | 11.38 | -3.0% | -10.6% |
| Operating margin | 22.8% | — | — |
HINDUNILVR delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 62.88% of the HINDUNILVR shares traded on NSE were taken to delivery, against the stock's own 20-session average of 60.5%. That is close to its usual level. In HINDUNILVR futures, open interest rose 0.26% while the futures price fell 0.53%: short buildup (new short positions). NSE's short-selling report for 15 Oct lists 3,337 HINDUNILVR shares sold short, 0.26% of that day's volume.
Delivery in the last 5 sessions: 68.5% · 59.9% · 73.6% · 54.0% · 62.9%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Hindustan Unilever Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate was issued by Registrar and Share Transfer Agent KFin Technologies Limited for the quarter running from July 1, 2026, to September 30, 2026. It confirms that all dematerialisation requests received were duly approved or rejected, and share certificates were mutilated and cancelled within 15 days of receipt. This is a purely administrative filing with zero impact on the company's financial operations or earnings.
- Covers the quarterly period from 1st July, 2026 to 30th September, 2026
- Issued by Registrar and Share Transfer Agent M/s. KFin Technologies Limited on Oct 05, 2026
- Confirms compliance with dematerialization actions within 15 days of receipt
- Dispatched and filed with stock exchanges on 8th October, 2026
Hindustan Unilever Limited has announced the closure of its trading window for the quarter ending 30th September, 2026. The closure takes effect from 15th September, 2026, pursuant to SEBI Prohibition of Insider Trading Regulations. The restriction applies to designated persons and will continue until 48 hours after the declaration of Q2 financial results. This is a standard procedural compliance filing with no impact on core business operations.
- Trading window closure commences on 15th September, 2026
- Closure relates to the quarter ending 30th September, 2026
- Restriction remains in place until 48 hours after financial results become publicly available
In an investor presentation at the Barclays Global Consumer Staples Conference, Hindustan Unilever outlined a target medium-term EBITDA margin range of 22% to 24%. The company plans to step up growth-led capex investments from 2% to 3% of turnover while pursuing bolt-on acquisitions. HUL reported an annual turnover of €6.5 Bn (Rs 65,547 Cr in FY26) with over 90% of turnover holding the #1 market position. Incremental turnover growth is targeted across consumption (40%), premiumisation (40%), and market-making/new spaces (20%).
- Targets medium-term EBITDA margin range of 22% - 24%
- Plans to increase growth-led capex from 2% to 3% of turnover and pursue bolt-on acquisitions
- Current annual turnover at €6.5 Bn with EBITDA margin of 23.6% for FY26
- >90% of business turnover maintains #1 market position across 9 Mn+ retail outlets reached
- Growth strategy expects 40% incremental turnover from consumption, 40% from premiumisation, and 20% from new spaces
Hindustan Unilever Limited has informed the stock exchanges that the video recording of its Capital Markets Day, 2026 is now accessible on the company website. This follows its prior communication dated 4th September, 2026, submitted in compliance with Regulation 30 of SEBI LODR Regulations. For the FMCG major with a market cap of Rs 464,087 Cr and TTM revenue of Rs 66,374 Cr, this is a standard regulatory intimation providing public access to event proceedings.
- Video recording of Capital Markets Day, 2026 published on HUL's official website
- Filing made pursuant to Regulation 30 of SEBI LODR Regulations on 6th September, 2026
- Follows earlier disclosure regarding the event dated 4th September, 2026
Hindustan Unilever Limited has notified exchanges of its upcoming investor interactions scheduled between September 9 and September 11, 2026. Company management representatives will attend the Barclays Conference on September 9, 2026, followed by a Non-Deal Roadshow on September 10, 2026. Management will also participate in the UBS India Summit 2026 on September 11, 2026. All interactions are scheduled to be physical group meetings.
- Barclays Conference scheduled for September 9, 2026 in physical group format
- Non-Deal Roadshow scheduled for September 10, 2026
- UBS India Summit 2026 scheduled for September 11, 2026
- All 3 interactions involve management participation with investor groups
Hindustan Unilever Limited (HUL) released its Capital Markets Day 2026 presentation detailing its growth strategy across Home Care, Beauty & Wellbeing, Personal Care, and Foods. The company highlighted that 21 of its brands generate over ₹1,000 crore in annual turnover, with >90% of turnover maintaining #1 market positions. Underlying Sales Growth (USG) improved progressively from 3% in First Half FY26 to 10% in June Quarter 2026. For FY26, the company reported an operating cash flow of ₹10,999 crore and a standalone ROCE of 110.9% with an EBITDA margin of 23.6%.
- 21 brands generate turnover >₹1,000 crore, with over 90% of turnover holding #1 market positions.
- Four core segments reported FY26 turnover: Home Care at ₹23,672 cr, Beauty & Wellbeing at ₹14,990 cr, Foods at ₹14,061 cr, and Personal Care at ₹9,564 cr.
- Underlying Sales Growth (USG) accelerated from 3% in FH FY26 to 5% in DQ'25, 7% in MQ'26, and 10% in JQ'26.
- Generated FY26 operating cash flow of ₹10,999 crore with standalone reserves of ₹48,988 crore and 110.9% ROCE.
Hindustan Unilever Limited (HUL) has scheduled a physical meeting with institutional investors at the Motilal Oswal 22nd Annual Global Investor Conference. The event is set for August 17, 2026, providing a platform for management to discuss the company's strategy. This comes at a time when the stock has seen a 16.2% price decline over the last six months. Investors will likely look for updates on the Ice Cream business demerger and the impact of palm oil price volatility on margins.
- Management to participate in the Motilal Oswal 22nd Annual Global Investor Conference.
- The physical conference is scheduled for August 17, 2026.
- HUL currently holds a market capitalization of Rs 4,85,342 Cr.
- The company reported a TTM revenue of Rs 65,547 Cr with an OPM of 23.0%.
Hindustan Unilever (HUL) reported a strong start to FY27 with revenue growing 10% YoY to ₹17,184 crores, its highest growth in 13 quarters. This growth was balanced, with 5% coming from volume and 5% from pricing, a significant step-up from the 3% growth seen in H1 FY26. The company maintained an EBITDA margin of 23% while aggressively increasing its advertising and promotion (A&P) spends to ₹1,657 crores, the highest in 11 quarters. Management highlighted market share gains in 85% of segments and strong double-digit growth in quick commerce and digital-first brands like Minimalist.
- Revenue grew 10% YoY to ₹17,184 crores, representing ~26% of TTM revenue.
- Underlying Volume Growth (UVG) improved to 5%, showing a recovery in consumer demand.
- A&P spends reached an 11-quarter high of ₹1,657 crores to support brand building and innovation.
- Adjusted Profit After Tax (PAT) grew 11% YoY, excluding one-off credits from the previous year.
- Ice Cream demerger is expected to provide a structural EBITDA margin uplift of 50-60 bps.
Hindustan Unilever Limited (HUL) has released the audio and video recordings of its earnings conference call for the quarter ended June 30, 2026. This is a standard procedural disclosure following the announcement of quarterly financial results. The call provides management's detailed commentary on the company's performance, including its TTM revenue of ₹65,547 Cr and the ongoing strategy to demerge the Ice Cream business. Investors can access these recordings on the company's website to understand volume growth trends and margin outlook.
- Audio/Video recording of the earnings call held on July 28, 2026, is now publicly available.
- The call pertains to the financial results for the quarter ended June 30, 2026.
- Management maintains market leadership in 85% of its business segments as per recent filings.
- The company is currently executing a portfolio reshaping, including an Ice Cream demerger expected to add 50-60 bps to EBITDA margins.
Hindustan Unilever Limited (HUL) has scheduled its 'Capital Markets Day 2026' for institutional investors and financial analysts on September 4, 2026. This event is a key platform for the company to detail its long-term strategy, including the ongoing demerger of the Ice Cream business which is expected to add 50-60 bps to EBITDA margins. Despite a 17.2% share price decline over the last 12 months, the company maintains a strong ROCE of 28.0% and market leadership in 85% of its segments. The presentation materials will be disclosed to exchanges following the event.
- Capital Markets Day 2026 scheduled for Friday, 4th September, 2026
- Event targeted at Institutional Investors and Financial Analysts
- Company maintains market leadership in 85% of its business segments
- Ice Cream demerger strategy expected to improve EBITDA margins by 50-60 bps
- TTM Revenue stands at Rs 65,547 Cr with a 23.0% OPM
Hindustan Unilever (HUL) reported a strong start to FY27 with a 10% increase in turnover to ₹17,184 crores, driven by 5% underlying volume growth. The Home Care segment led performance with 14% growth, its highest in three years, while Beauty & Wellbeing grew 12%. EBITDA rose 8% to ₹3,947 crores, though margins contracted slightly by 40 bps to 23.0% due to commodity volatility. Reported PAT saw a marginal 2% decline to ₹2,680 crores, primarily due to a high base effect from a one-off tax credit in the previous year.
- Delivered 10% Underlying Sales Growth (USG), the highest in 13 quarters.
- Underlying Volume Growth (UVG) stood at 5%, indicating a recovery in demand.
- Home Care segment revenue reached ₹6,554 crores with a 14% USG.
- Boost brand surpassed the ₹1,000 crore annual turnover milestone on a trailing 12-month basis.
- EBITDA margin remained within the guided range at 23.0% despite palm oil inflation.
Hindustan Unilever (HUL) reported a 10.3% YoY increase in revenue from continuing operations to ₹17,149 Cr for the quarter ended June 2026. However, consolidated net profit for the period declined by 3.2% YoY to ₹2,680 Cr, primarily due to higher total expenses which rose 10% to ₹13,822 Cr. The results reflect the company's transition as the Ice Cream business is now classified under discontinued operations. Advertising and promotion spending remained high at ₹1,657 Cr, representing 9.7% of revenue, as the company continues its strategy of market development and premiumization.
- Revenue from operations grew 10.3% YoY to ₹17,149 Cr from ₹15,552 Cr in the year-ago quarter.
- Net profit from continuing operations decreased by 2.2% to ₹2,680 Cr compared to ₹2,741 Cr in Q1 FY26.
- Advertising and promotion expenses increased to ₹1,657 Cr, up from ₹1,598 Cr in the previous year.
- Total expenses for the quarter stood at ₹13,822 Cr, a 10% increase over the ₹12,565 Cr reported in Q1 FY26.
- Earnings Per Share (EPS) for continuing and discontinued operations combined fell to ₹11.38 from ₹11.73 YoY.
Hindustan Unilever Limited (HUL) has scheduled its Board Meeting and subsequent earnings conference call for July 28, 2026, to discuss financial results for the quarter ended June 30, 2026. This follows a prior intimation on July 7, 2026. Investors will be looking for updates on volume growth and the progress of the Ice Cream business demerger, which is expected to add 50-60 bps to EBITDA margins. The company enters this earnings cycle with a TTM revenue of Rs 65,547 Cr and a TTM PAT of Rs 15,059 Cr.
- Earnings conference call and Board Meeting scheduled for July 28, 2026
- Results cover the first quarter of FY27, ended June 30, 2026
- Previous quarter (Mar 2026) reported revenue of Rs 16,351 Cr and PAT of Rs 2,994 Cr
- Management previously indicated a 50-60 bps EBITDA margin improvement target from the Ice Cream demerger
- Company maintains a market-leading position in 85% of its business segments
Hindustan Unilever Limited (HUL) has filed its quarterly compliance certificate regarding the dematerialization of shares for the period April 1, 2026, to June 30, 2026. The certificate, issued by KFin Technologies Limited (the Registrar and Share Transfer Agent), confirms that all physical share certificates received for dematerialization were processed within the mandated 15-day timeframe. This process includes the mutilation and cancellation of physical certificates and updating the depository as the registered owner. This is a standard administrative filing with no impact on business operations or financial health.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirmation that dematerialization requests were processed within 15 days of receipt
- Registrar and Share Transfer Agent identified as KFin Technologies Limited
- Verification that mutilated and cancelled certificates were substituted with the depository's name in records
Hindustan Unilever Limited (HUL) concluded its 93rd Annual General Meeting on June 30, 2026. Shareholders approved seven key resolutions, including the adoption of FY26 audited financial statements and the confirmation of both interim and final dividends. The meeting also ratified the re-appointment of four directors, including Chairman Nitin Paranjpe and Independent Director Ashu Suyash. This procedural event confirms the company's governance and profit distribution for a year where TTM PAT reached Rs 15,059 Cr.
- 93rd Annual General Meeting successfully conducted on June 30, 2026, via Video Conference.
- Total of 144 shareholders attended the meeting, representing a base of 11,60,840 shareholders as of the June 23, 2026 record date.
- 7 resolutions were proposed and passed, covering financial adoption, dividend declarations, and director re-appointments.
- Directors Nitin Paranjpe, Niranjan Gupta, B.P. Biddappa, and Ashu Suyash were re-appointed to the board.
- Chairman Nitin Paranjpe addressed the meeting on the theme 'Resilience to Reinvention'.
Financial Performance
Revenue Growth by Segment
Home Care: INR 22,808 Cr (+4.8% YoY); Beauty & Wellbeing: INR 12,821 Cr (+2.1% YoY); Personal Care: INR 9,039 Cr (-2.9% YoY); Foods: INR 15,098 Cr (-0.36% YoY); Others: INR 914 Cr (+15% YoY). Total Turnover for FY25 was INR 60,680 Cr, up 1.85% from INR 59,579 Cr in FY24.
Geographic Revenue Split
Primarily domestic (India) focused; exports and consignment sales contributed INR 914 Cr (1.5% of total turnover) in FY25. Rural demand recovery is cited as a key driver for future volume growth.
Profitability Margins
Operating profit margin remained stable at 22% in FY25. Net profit margin improved from 17.0% to 17.5% in FY25. Return on Net Worth increased from 20.0% to 21.2% YoY.
EBITDA Margin
EBITDA margin for SQ'25 was 23.2%, down 90 bps YoY due to higher business investments. H1 FY26 EBITDA margin was 23%, down 110 bps YoY. FY25 EBITDA was INR 14,289 Cr (+0.7% YoY).
Capital Expenditure
Historical investments in subsidiaries include INR 352 Cr loan to Unilever India Exports and INR 10 Cr to Lakme Lever. Cash management investments in Mutual Funds and T-Bills totaled INR 20,943 Cr as of March 31, 2025.
Credit Rating & Borrowing
Reaffirmed at CRISIL AAA/Stable. Borrowing costs are negligible as the company maintains a Debt-Equity ratio of 0.0 and an interest coverage ratio of 100.5x.
Operational Drivers
Raw Materials
Key raw materials include palm oil and its derivatives (for Skin Cleansing), tea and coffee (for Beverages), and chemicals for Skin Care. Commodity price volatility in these areas directly impacts gross margins.
Import Sources
Sourced globally and domestically; specifically mentions PT. Unilever Oleochemical Indonesia as a key related party supplier for raw materials.
Key Suppliers
PT. Unilever Oleochemical Indonesia (UOI) is a major supplier with a shareholder-approved transaction limit of INR 3,000 Cr per financial year for raw materials.
Capacity Expansion
Current capacity not disclosed in MT; however, the company is 'reshaping the portfolio' by accelerating in high-growth demand spaces and demerging the lower-margin Ice Cream business to improve overall EBITDA by 50-60 bps.
Raw Material Costs
Operating costs for FY25 were INR 47,180 Cr (77.7% of turnover). Gross margins improved by ~400 bps in FY24 due to moderating commodity prices, though SQ'25 saw pricing volatility in Skin Cleansing and Beverages.
Manufacturing Efficiency
Return on Capital Employed (ROCE) improved significantly from 96.3% in FY24 to 108.2% in FY25, indicating high capital efficiency.
Logistics & Distribution
Distribution is managed through an extensive network; costs are part of the 'other expenses' which saw phasing impacts in SQ'25.
Strategic Growth
Expected Growth Rate
3%
Growth Strategy
Strategy based on four pillars: market development, premiumization, reshaping the portfolio (e.g., Ice Cream demerger), and channel focus (e-commerce and specialist stores). The demerger is expected to add 50-60 bps to EBITDA margins. Focus on volume-led growth in H2 FY26.
Products & Services
Soaps (Skin Cleansing), Detergents (Home Care), Tea and Coffee (Beverages), Skin Creams (Skin Care), Ketchup and Soups (Foods), and Ice Cream (until demerger).
Brand Portfolio
Lakme, Kwality Wall's, Minimalist, Surf Excel, Rin, Wheel, Dove, Lux, Ponds, Horlicks.
New Products/Services
Minimalist brand (acquired/partnered) delivered strong double-digit growth in H1 FY26. Focus on 'bold launches' in high-growth demand spaces.
Market Expansion
Expanding specialist store presence (cosmetic stores and chemists) and disproportionate investment in e-commerce, where CAC to LTV ratios are closely monitored.
Market Share & Ranking
Market leader in 85% of its business segments; reported gains in turnover-weighted market shares in SQ'25.
Strategic Alliances
Partnership with Minimalist; Material Related Party Transaction agreement with PT. Unilever Oleochemical Indonesia for raw material supply up to INR 3,000 Cr annually.
External Factors
Industry Trends
FMCG industry is shifting toward premiumization and e-commerce; rural demand is recovering while urban consumption shows some delay in pantry replenishment.
Competitive Landscape
Intensifying competition from both regional players and large FMCG peers; HUL maintains leadership through 'market development' and 'premiumization'.
Competitive Moat
Strong moat derived from market leadership in 85% of portfolio, extensive distribution network, and brand equity (Lakme, Dove, etc.). Sustainable through high ROCE (108.2%) and EVA-focused capital allocation.
Macro Economic Sensitivity
Highly sensitive to rural demand recovery and inflation; easing inflation is expected to support volume growth in FY25.
Consumer Behavior
Consumers delayed pantry replenishment in SQ'25 in expectation of lower shelf prices due to pricing volatility.
Geopolitical Risks
Resolution of prior years' tax matters between UK and Indian tax authorities resulted in a one-off positive impact on PAT in SQ'25.
Regulatory & Governance
Industry Regulations
Transitory impact from GST changes noted in SQ'25; compliance with SEBI (SBEB) Regulations for employee share plans.
Environmental Compliance
Integrated Report focuses on Natural, Human, and Social Capital; specific ESG compliance costs in INR are not disclosed.
Taxation Policy Impact
Normalized Effective Tax Rate is 26.6%. H1 FY26 reported ETR was 20.5% due to one-off tax settlements.
Legal Contingencies
Resolution of prior years' tax matters between UK and Indian tax authorities provided a one-off benefit. 92 integrity incidents reported in FY25, resulting in 37 employee terminations.
Risk Analysis
Key Uncertainties
Volatility in commodity prices (palm oil, tea) and the pace of rural demand recovery are the primary uncertainties impacting margins and volume growth.
Geographic Concentration Risk
Highly concentrated in the Indian market; exports represent only ~1.5% of turnover.
Third Party Dependencies
Significant dependency on PT. Unilever Oleochemical Indonesia for raw materials (up to INR 3,000 Cr/year).
Technology Obsolescence Risk
Mitigated by digital transformation in e-commerce and specialist channel focus; CAC to LTV ratio is a primary internal metric.
Credit & Counterparty Risk
Low risk; debtors turnover of 19.8x and high liquidity (INR 20,943 Cr in cash equivalents) ensure strong receivables quality.
