Jul. 31 at 6:59 AM
HUL Delivers Growth Where It Matters — Volume! 🧠
📦”HUL Q1 FY26 Results: A Strategic Shift 🚀
$HUL $Q1RESULTS $STOCKMARKET $VOLUMEGROWTH $EPS
1️⃣MCap: ₹5,72,525 Cr
HUL pivots to volume-led growth—UVG at 4% beating
street estimates, but at the cost of margins. Let’s decode 👇
2️⃣ 🛍️ Revenue
• Consolidated: ₹16,296 Cr ↑ 5% YoY
• Standalone: ₹15,747 Cr ↑ 4% YoY
Solid top-line growth amid consumption headwinds.
3️⃣ ⚙️ EBITDA
• Consolidated Margin: 22.8% ↓ 130 bps YoY
• Standalone Margin: 22.6% ↓ 120 bps YoY
Margins dipped as HUL reinvested in advertising & passed cost savings to boost volumes.
4️⃣ 💰 PAT
• Consolidated PAT: ₹2,768 Cr ↑ 6% YoY
• Standalone PAT: ₹2,732 Cr ↑ 8% YoY
Tax benefit contributed ~12-13% to PAT growth.
5️⃣ 📈 EPS
• Basic EPS: ₹11.73 vs ₹11.11 YoY ↑ 5.6%
Strong PAT expansion and tax optimization supported EPS rise.
6️⃣ 🧠 Volume Growth
• Underlying Volume Growth: 4%
This is the big story! Outperformed expectations as HUL prioritized volume over margin.
7️⃣ 🔍 Segment Performance
• Home Care: Drove volume via cost pass-through (Surf Excel 🧼)
• BPC: Focus on premiumization (Nexxus, Dove, Minimalist)
• Foods & Refreshment: Steady performer despite unseasonal weather
8️⃣ 💼 Strategic Moves
• Acquired 90.5% stake in Minimalist (USPL) for ₹2,706 Cr in Apr '25
• Restructuring expense: ₹91 Cr
• Indemnification reversal: ₹34 Cr
9️⃣ 🔭 Outlook & Analyst View
• CEO Priya Nair aligns leadership with premiumization play
🔟 🧾 Verdict:
✅ UVG beat = growth pivot working
⚠️ Margins sacrificed short-term
🎯 Premiumization & volume push = long-term bet
➡️ Thanks for reading! Follow @financialsarthis
for more.
All content is for educational purposes only. Do your own research or consult a financial advisor before acting
