Hindustan Unilever Limited (HUL) announced its September-quarter financial results on October 28, 2026, reporting strong underlying sales and volume growth across its major consumer product categories.
Summary
- HUL reported turnover of ₹18,071 crore.
- Underlying sales grew 15%, the highest rate in 14 quarters.
- Underlying volume growth reached 7%.
- EBITDA rose 8% to ₹4,089 crore.
- EBITDA margin stood at 22.6%.
- Profit after tax before exceptional items grew 9%.
- Reported PAT remained broadly flat at ₹2,796 crore.
- The board declared an interim dividend of ₹19 per share.
HUL Q2 FY27 Financial Highlights
HUL’s latest financial results reflect strong demand for branded consumer goods, including household cleaning products, skincare, personal care and packaged foods.
Quarterly Performance
| Financial indicator | Q2 FY27 |
|---|---|
| Turnover | ₹18,071 crore |
| Underlying sales growth | 15% |
| Underlying volume growth | 7% |
| EBITDA | ₹4,089 crore |
| EBITDA growth | 8% |
| EBITDA margin | 22.6% |
| Reported profit after tax | ₹2,796 crore |
| PAT growth before exceptional items | 9% |
| Interim dividend | ₹19 per share |
Source: HUL official September-quarter 2026 results announcement.
The distinction between reported profit and profit before exceptional items is important when evaluating the quarter.
Underlying sales growth measures business growth after adjusting for specified portfolio changes, while underlying volume growth reflects the company’s defined volume and mix measure.
These metrics should not be confused with every revenue figure appearing in consolidated financial statements.
Why Did HUL Report 15% Underlying Sales Growth?
HUL recorded its strongest underlying sales growth in 14 quarters.
The improvement reflected broad-based demand, brand development, distribution initiatives and selected pricing actions.
Underlying volume growth of 7% was a particularly important indicator.
Volume growth can provide evidence of increasing consumer demand rather than revenue growth caused entirely by higher prices.
However, differences in product mix can also affect the measure, so it should be examined alongside revenue and margins.
Home Care Business Grows 22%
HUL’s Home Care segment reported 22% underlying sales growth.
Both Fabric Wash and Household Care delivered double-digit underlying volume growth.
The segment includes established brands such as Surf Excel and Rin.
The company highlighted expansion in liquid cleaning products and continued investment in premium offerings.
Strong Home Care performance suggests that demand for cleaning products remained resilient.
However, continued growth will depend on distribution, competitive conditions, commodity costs and consumer preferences.
Beauty and Wellbeing Records 16% Growth
Beauty and Wellbeing reported 16% underlying sales growth, supported by double-digit underlying volume growth.
Premium haircare, skincare and colour cosmetics were important contributors.
The company introduced or expanded products across brands including Dove, Vaseline, Simple and Minimalist.
Consumers’ increasing interest in specialised skincare and premium beauty products provides an opportunity for established companies to expand their product portfolios.
Nevertheless, these businesses face substantial competition, and new product launches require sustained consumer adoption.
Personal Care Grows 9%
The Personal Care business reported underlying sales growth of 9%.
Skin Cleansing delivered double-digit underlying sales growth, supported by brands such as Dove and Pears.
The company also relaunched Lux soap with updated packaging and positioning.
Oral Care recorded lower growth than Skin Cleansing.
Read Also: Tata Consumer Q2 FY27 Results: Profit Rises 16% to ₹470 Crore, Revenue Jumps 14%
This variation demonstrates that consumer product categories can perform differently even within the same company.
Foods Business Reports 9% Growth
HUL’s Foods segment delivered 9% underlying sales growth.
Lifestyle Nutrition and Packaged Foods posted double-digit underlying sales growth.
Coffee recorded high-single-digit growth supported by volumes.
The company continued expanding its Horlicks portfolio, including a protein powder offering.
Premium tea products also remained an important part of the business.
The performance indicates that food and nutrition categories contributed to quarterly growth, although the pace varied across product lines.
Why Was Reported Profit Nearly Flat?
This is one of the most important questions arising from the results.
HUL reported profit after tax of ₹2,796 crore, broadly unchanged from the corresponding year-earlier period.
However, profit after tax before exceptional items increased approximately 9%.
The difference relates partly to a one-off tax-related gain of ₹273 crore included in the comparable period.
When a company reports an exceptional gain in a previous year, its subsequent reported profit growth may appear weaker even if underlying operating performance improves.
Investors should therefore examine both reported profit and appropriately defined profit before exceptional items.
Neither measure should be used without understanding its calculation.
EBITDA Grows 8% to ₹4,089 Crore
HUL reported EBITDA of ₹4,089 crore, up 8% year-on-year.
The company’s EBITDA margin was 22.6%, within its guided range.
EBITDA is used to measure earnings before interest, tax, depreciation and amortisation.
It is a useful financial indicator, but it is not the same as free cash flow or net profit.
Revenue growth exceeded EBITDA growth during the quarter, indicating that operating costs and product mix also influenced profitability.
HUL continues to face cost pressures relating to commodities and investments in brands and distribution.
HUL Declares ₹19 Interim Dividend
HUL’s board declared an interim dividend of ₹19 per equity share for FY 2026–27.
The company specified the following dividend schedule.
| Dividend detail | Date / Amount |
|---|---|
| Interim dividend | ₹19 per share |
| Record date | 12 November 2026 |
| Scheduled payment date | 25 November 2026 |
The record date is used to determine eligible shareholders based on the applicable depository and market rules.
Investors must also consider the exchange’s ex-dividend date and settlement requirements. Purchasing shares on the record date does not automatically guarantee entitlement.
Dividend Calculation Example
An investor eligible for the dividend on 100 shares would receive a gross dividend of:
100 × ₹19 = ₹1,900.
The actual amount credited may be affected by applicable tax deduction or other requirements.
A dividend declaration should not be interpreted as a recommendation to buy shares.
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What Did HUL Management Say?
CEO and Managing Director Priya Nair highlighted the company’s strong sales momentum and volume-led growth.
Management attributed the results to its brand-building strategy, consumer-focused product development and distribution execution.
HUL also emphasised its focus on premiumisation and long-term capabilities.
These initiatives are intended to support sustainable business growth, but their financial benefits will depend on future operating conditions.
What Do the Results Mean for Investors?
HUL’s latest quarter contains several positive indicators.
Underlying sales growth reached a multi-year high, and underlying volumes increased 7%.
Home Care and Beauty and Wellbeing recorded strong growth.
The company also maintained substantial operating profitability and declared an interim dividend.
However, investors should not focus exclusively on the 15% sales-growth figure.
Reported profit remained broadly flat, and EBITDA growth was lower than underlying sales growth.
Future returns will depend on earnings sustainability, valuations, competitive conditions and broader market performance.
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Five Indicators to Watch After the Results
1. Volume Growth
Can HUL maintain healthy volume expansion in the next several quarters?
2. Commodity Inflation
Will raw material prices affect manufacturing costs and product margins?
3. Premiumisation
Can higher-value products continue attracting consumers?
4. Operating Margins
Will EBITDA margins remain within management’s indicated range?
5. Dividend and Capital Allocation
How will the company balance shareholder distributions with investment in future growth?
Frequently Asked Questions
1. When were HUL Q2 FY27 results announced?
The company announced its results on October 28, 2026.
2. What was HUL’s turnover?
HUL reported turnover of ₹18,071 crore.
3. How much did underlying sales grow?
Underlying sales growth was 15%, the highest in 14 quarters.
4. What was HUL’s net profit?
The company reported profit after tax of ₹2,796 crore.
5. What dividend did HUL announce?
The board declared an interim dividend of ₹19 per equity share.
6. What is the dividend record date?
November 12, 2026.
7. Did HUL’s profit rise by 15%?
No. The 15% figure refers to underlying sales growth. Reported profit after tax remained broadly flat, while profit before exceptional items grew 9%.
Conclusion
HUL’s Q2 FY27 results demonstrate a strong recovery in underlying sales and consumer demand.
The company’s 15% underlying sales growth, 7% underlying volume growth and positive performance in Home Care and Beauty and Wellbeing were key highlights.
The ₹19 interim dividend provides another point of interest for shareholders.
However, a careful assessment should distinguish strong operating performance from reported net profit, which remained broadly unchanged year-on-year.
Read Also: Q1 Results 2026 Today: L&T, HUL, Suzlon, Tata Capital & 69 Companies to Announce Earnings
Investors should continue monitoring volume growth, commodity prices, margins and company valuations.
Sources
- Hindustan Unilever Limited — Official Q2 FY27 Press Release, October 28, 2026.
- Hindustan Unilever Limited — Quarterly Financial Statements and Investor Presentation.
- Reuters — October 28, 2026, HUL quarterly earnings report.
- Business Standard — October 28, 2026, HUL September-quarter results.
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