Hindustan Unilever LimitedQ2 FY27 Results & Financial Update
Hindustan Unilever Limited: Q2 FY27 consolidated results and company financials – revenue ₹18,226.00 Cr, PAT ₹2,796.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Hindustan Unilever Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Hindustan Unilever reported delivered turnover of ₹18,071 crores for the September quarter (Q2 FY27), accompanied by a strong Underlying Sales Growth (USG) of 15% and an Underlying Volume Growth (UVG) of 7%, marking its highest USG in the last 14 quarters.
Consolidated revenue from operations stood at ₹18,226 crores, representing a sequential expansion from ₹17,341 crores in Q1 FY27, while total income reached ₹18,386 crores compared to ₹17,529 crores in the preceding quarter.
Profit before tax (PBT) for the quarter advanced to ₹3,814 crores from ₹3,632 crores in the previous quarter, and net profit after tax (PAT) rose to ₹2,796 crores compared to ₹2,680 crores in Q1 FY27, supported by robust volume expansion and pricing discipline.
The company's earnings per share (EPS) for Q2 FY27 rose to ₹11.87 from ₹11.38 in the preceding quarter.
Management noted that consolidated EBITDA margin came in at 22.6%, staying firmly within the guided range of 22% to 24% despite elevated short-term commodity inflation.
The board of directors declared an interim dividend of ₹19 per equity share for the financial year ending 31st March 2027.
Growth during the quarter remained broad-based across all operating segments, led by Home Care with 22% USG and Beauty & Wellbeing with 16% USG, underpinned by healthy macroeconomic conditions and resilient rural and urban consumption trends.
01 · Business model
What does Hindustan Unilever do?
Hindustan Unilever Limited (HUL) is India's largest fast-moving consumer goods (FMCG) company, operating across diverse home care, personal care, beauty, and food and refreshment categories.
The company's extensive brand portfolio includes household names such as Surf excel, Rin, Comfort, Vim, Dove, Pond's, Vaseline, Lakmé, Pears, Lux, Lifebuoy, Horlicks, Boost, Kissan, and Bru.
HUL reaches millions of households across India through an expansive distribution network spanning traditional trade, modern retail, and digital e-commerce channels.
The economic model focuses on driving competitive, volume-led growth by scaling trusted brands, continuous premiumisation, market development in under-penetrated categories, and disciplined cost productivity under its 'Winning in New India' (WINI) strategy.
02 · Historical context
What shaped the business before this quarter
Earlier in FY27, HUL reported a cumulative first-half turnover of ₹35,255 crores with 12% USG and 6% UVG, alongside an 8% growth in EBITDA and a 9% growth in PAT before exceptional items (bei).
Previously, the company established its 'Winning in New India' (WINI) strategic framework focused on consumption expansion, premiumisation, market making, and new demand spaces.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹18,226.00 Cr | ₹17,341.00 Cr |
| Total income | ₹18,386.00 Cr | ₹17,529.00 Cr |
| Profit before tax | ₹3,814.00 Cr | ₹3,632.00 Cr |
| Profit after tax | ₹2,796.00 Cr | ₹2,680.00 Cr |
| EPS | ₹11.87 | ₹11.38 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Underlying volume growth reached a robust 7% for the quarter, reflecting sustained consumer demand and positive momentum across urban and rural markets.
Home Care delivered 22% USG driven by double-digit volume growth across both Fabric Wash and Household Care, boosted by premiumisation in powders such as Surf excel Easy Wash and strong demand for liquids.
Beauty & Wellbeing posted 16% USG powered by double-digit volume growth in Hair Care, Skin Care, and Colour Cosmetics, with premium formulations and innovations continuing to outperform.
Foods and Personal Care segments each recorded 9% USG, supported by double-digit growth in Skin Cleansing, Lifestyle Nutrition (including Horlicks extensions), and Packaged Foods.
What drove margins
The company utilized calibrated pricing actions, accelerated internal cost savings, and advertising and promotion (A&P) productivity initiatives under its SANGAM framework to protect operating margins.
05 · Demand, customers & order book
Where demand is coming from
Market development initiatives, targeted sampling, and in-store activations expanded customer reach and household penetration, particularly for bodywash, liquids, and premium soap variants.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Recorded ₹6,878 crores in revenue with a 16% segment margin, driven by double-digit growth in Fabric Wash and Household Care.
Recorded ₹4,319 crores in revenue with a 29% segment margin, led by strong performance in Hair Care, Premium Skin Care, and Colour Cosmetics.
Recorded ₹3,849 crores in revenue with a 22% segment margin, supported by Lifestyle Nutrition, Coffee, and Packaged Foods.
Recorded ₹2,617 crores in revenue with a 17% segment margin, propelled by double-digit growth in Skin Cleansing and Dove/Pears bars.
07 · Strategy & new businesses
How the company is trying to change its growth mix
During the quarter, HUL expanded its Simple brand with a new Barrier Repair Range, relaunched Vaseline body lotions, introduced Dove body serum lotions, expanded the Minimalist skincare and haircare portfolio, launched Horlicks Protein powder, and refreshed Kissan condiments.
08 · Reported developments
What changed operationally
HUL achieved 15% underlying sales growth, marking its highest USG rate in the last 14 quarters, with broad-based contributions across all major divisions.
09 · Pressure points & risks
What is not going smoothly
Management noted that elevated commodity prices and input cost inflation continue to impact the short-term operating environment, requiring disciplined pricing and cost management.
10 · Items worth noticing
The line items that can distort a quick read
Reported PAT of ₹2,796 crores was flat year-on-year primarily due to one-off tax-related gains of ₹273 crores included in exceptional items during the base period.
11 · Management guidance & targets
What management is targeting from here
Management expects FY27 performance to be better than FY26, supported by a resilient underlying demand environment and ongoing portfolio and channel transformations.
Consolidated EBITDA margin is expected to remain within the guided range of 22% to 24%, despite short-term commodity inflation.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Executive Leadership Commentary
Priya Nair, CEO and Managing Director, noted that strong volume growth reflects sustained momentum from crafting desirable brands and building a future-fit Go-to-Market framework.
13 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue from operations increased sequentially from ₹17,341 crores in Q1 FY27 to ₹18,226 crores in Q2 FY27.
14 · Key Q&A
The quarter, answered directly
What does Hindustan Unilever do?
Hindustan Unilever Limited (HUL) is India's largest fast-moving consumer goods (FMCG) company, operating across diverse home care, personal care, beauty, and food and refreshment categories.
What is the clearest takeaway from Q2 FY27?
Hindustan Unilever reported delivered turnover of ₹18,071 crores for the September quarter (Q2 FY27), accompanied by a strong Underlying Sales Growth (USG) of 15% and an Underlying Volume Growth (UVG) of 7%, marking its highest USG in the last 14 quarters.
What drove revenue or demand?
Underlying volume growth reached a robust 7% for the quarter, reflecting sustained consumer demand and positive momentum across urban and rural markets.
What mattered most for margins or profitability?
The company utilized calibrated pricing actions, accelerated internal cost savings, and advertising and promotion (A&P) productivity initiatives under its SANGAM framework to protect operating margins.
What changed operationally beyond the headline numbers?
During the quarter, HUL expanded its Simple brand with a new Barrier Repair Range, relaunched Vaseline body lotions, introduced Dove body serum lotions, expanded the Minimalist skincare and haircare portfolio, launched Horlicks Protein powder, and refreshed Kissan condiments.
What is management guiding or targeting from here?
Management expects FY27 performance to be better than FY26, supported by a resilient underlying demand environment and ongoing portfolio and channel transformations.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
EBITDA Margin Trajectory: Monitor whether consolidated EBITDA margins continue to hold within the guided 22% to 24% corridor amidst ongoing commodity price fluctuations.
- 02
Volume Growth Sustainability: Track future quarterly underlying volume growth (UVG) across Home Care and Beauty & Wellbeing segments to gauge the durability of urban and rural consumption recovery.
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