Hindustan Unilever Limited (HUL) reported 15% underlying sales growth for the quarter ended Sept. 30, 2026, its highest in 14 quarters, while its EBITDA margin fell 140 basis points year over year.
The results, dated Oct. 28, 2026, showed consolidated turnover of ₹18,071 crore. HUL defines underlying sales growth as turnover growth excluding acquisitions and disposals. Its underlying volume-growth measure includes product-mix effects on turnover realization; the company recorded 7% on that measure.
Home Care recorded 22% underlying sales growth, while Beauty & Wellbeing rose 16%. Personal Care and Foods each posted 9%. HUL said Home Care and Beauty & Wellbeing each generated double-digit underlying volume growth; Foods had low-single-digit growth.
EBITDA increased 8% year over year to ₹4,089 crore, but its margin declined to 22.6%. Profit after tax before exceptional items rose 9% to ₹2,795 crore. Reported profit after tax was ₹2,796 crore, flat from a year earlier. HUL said the prior-year comparison included a one-time ₹273 crore tax-related gain.
HUL credited calibrated pricing and market-development initiatives with supporting Home Care. Its results presentation listed elevated commodity prices alongside positive demand conditions. Chief Executive and Managing Director Priya Nair linked volume momentum to the company’s brand-building and go-to-market work. “Underlying Volume Growth was strong at 7% reflecting sustained momentum driven by our focus on crafting desirable brands and strengthening future-fit Go-to-Market,” Nair said.
NDTV Profit, Moneycontrol and ET Now reported that HSBC maintained its Buy rating on HUL and raised its price target to ₹2,220 from ₹2,210. NDTV Profit said HSBC cited the company’s underlying sales and volume growth.
HUL declared an interim dividend of ₹19 per share for the financial year ending March 31, 2027. The record date is Nov. 12, 2026, and payment is scheduled for Nov. 25, 2026.
