HUL logs 10% revenue growth, highest in 13 quarters
Q1 FY27 revenue at ₹17,184 crore, volume up 5%, margin at 23% within guided band. Home Care leads with 14% growth.
— 2 earlier stories on Hindustan Unilever Ltd. →What's new
- Revenue rose 10% to ₹17,184 cr, fastest growth in 13 quarters.
- Underlying volume growth of 5%; EBITDA up 8% to ₹3,947 cr.
- Margin eased 40 bps to 23.0%, still within 22.5-23.5% band.
- Home Care (14%) and Beauty & Wellbeing (12%) paced growth; Personal Care lagged at 4%.
Why this matters
After a prolonged slowdown, HUL is back to double-digit topline growth, driven by Home Care and Beauty. The margin contraction is mild and guided, but Personal Care languishing at 4% suggests input-cost headwinds are not uniform. The recovery is real but not yet broad-based.
What we're watching
- Whether Personal Care can reaccelerate as palm oil inflation eases.
- Volume trajectory in the rest of FY27: 5% is encouraging but still below pre-pandemic trend.
- Any change in the margin band given near-term commodity volatility.
The full read
HUL delivered its strongest topline performance in over three years. Revenue hit ₹17,184 crore, up 10%. That's the highest print in thirteen quarters. Volume growth of 5% confirms demand is recovering. Not broad-based yet. Home Care surged 14% and Beauty & Wellbeing 12%, while Personal Care limped at 4% under palm oil cost pressure. EBITDA grew 8%, but margin eased 40bps to 23.0%, still inside the guided band. The base quarter carried a tax credit, so reported PAT slipped 2%; underlying earnings were up 9%. This is a routine but credible report. The recovery is broad enough to be real, but narrow enough to keep the margin floor in sight. What changes from here is whether Personal Care catches up or commodity costs keep it pinned.
Questions answered
- What was HUL's revenue in Q1 FY27 and how did it grow?
- HUL reported consolidated revenue of ₹17,184 crore for the June 2026 quarter, up 10% year-on-year, the highest growth in thirteen quarters. Underlying volume grew 5%.
- How did profitability fare?
- EBITDA rose 8% to ₹3,947 crore, but margin contracted 40 basis points to 23.0%. That is still within the management's guided band of 22.5-23.5%. Profit after tax before exceptional items grew 9%, but reported PAT fell 2% due to a one-off tax credit in the base quarter.
- Which segments drove the growth?
- Home Care led with 14% expansion, followed by Beauty & Wellbeing at 12%. Foods grew 7%, while Personal Care was subdued at 4% due to sustained palm oil inflation.
- Is this recovery priced in?
- The results are a scheduled quarterly announcement and were widely anticipated. While the 10% revenue growth is the highest in 13 quarters, markets had already factored in the recovery trajectory. The stock's reaction may be muted unless management signals an upgraded margin outlook.
Story so far
All notes on HINDUNILVR →- 28 Jul 2026 · 10:03 AM IST HUL logs 10% revenue growth, highest in 13 quarters
- today HUL's best quarter in 13 quarters — market already knew
- today HUL's best quarter in 13 quarters: sales up 10%