Hindustan Unilever Ltd

Fast Moving Consumer Goods F&O

NSE: HINDUNILVR BSE: 500696 Diversified FMCG

Key Fundamentals

LargecapDiversified FMCGFMCG

Market Cap

5.3L Cr

Volatility

Moderate

P/E Ratio

36.6

EBITDA

₹15,868 Cr

Return on Equity

19.99%

Debt to Equity

0.03

Book Value

₹207.34

EPS

₹43.99

52W High

₹2,705.09

52W Low

₹2,101.12

Technical Indicators

Key Insights

▲

Strengths

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 101%

▼

Weaknesses

Stock is trading at 10.9 times its book value
The company has delivered a poor sales growth of 9.67% over past five years.
Earnings include an other income of Rs.4,562 Cr.

Growth Rate

Revenue Growth

2.28% ↘

Net Income Growth

3.78% ↘

Cash Flow Change

-23.16% ↘

ROE

7.60% ↘

ROCE

7.59% ↘

EBITDA Margin (Avg.)

0.24% ↘

Quarterly Results

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Depreciation	293	291	286	297	313	320	329	338	318	347	361	322	337
EPS in Rs	10.53	11.07	10.87	11.3	10.68	10.89	11.11	11.03	12.7	10.49	11.73	11.43	28.12
Expenses	11,903	11,643	11,832	11,828	11,902	11,675	11,965	12,139	11,867	12,052	12,797	12,137	12,660
Interest	29	29	50	88	91	105	93	110	109	80	127	124	88
Net Profit	2,481	2,601	2,556	2,657	2,508	2,561	2,612	2,595	2,989	2,475	2,768	2,694	6,603
OPM %	24%	23%	24%	24%	24%	23%	24%	24%	24%	23%	23%	24%	23%
Operating Profit	3,694	3,572	3,664	3,795	3,665	3,535	3,742	3,787	3,689	3,618	3,717	3,782	3,781
Other Income	7	240	146	178	184	309	209	203	733	171	74	269	4,048
Profit before tax	3,379	3,492	3,474	3,588	3,445	3,419	3,529	3,542	3,995	3,362	3,303	3,605	7,404
Sales	15,597	15,215	15,496	15,623	15,567	15,210	15,707	15,926	15,556	15,670	16,514	15,919	16,441
Tax %	27%	26%	26%	26%	27%	25%	26%	27%	25%	26%	16%	25%	11%

Profit & Loss

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Depreciation	296	322	353	432	520	565	1,002	1,074	1,091	1,137	1,216	1,355	1,367
Dividend Payout %	71%	74%	83%	82%	83%	78%	80%	119%	90%	91%	96%	117%	—
EPS in Rs	18.24	20.17	19.18	20.68	24.09	27.97	31.17	34.03	37.79	43.07	43.74	45.32	61.77
Expenses	24,475	26,560	26,276	26,834	28,046	30,430	29,922	35,402	39,589	46,433	47,237	48,278	49,646
Interest	41	18	17	35	26	33	118	117	106	114	334	395	419
Net Profit	3,956	4,376	4,151	4,490	5,227	6,060	6,756	7,999	8,892	10,143	10,282	10,671	14,540
OPM %	16%	17%	18%	19%	21%	23%	25%	25%	25%	23%	24%	24%	23%
Operating Profit	4,759	5,412	5,910	6,328	7,499	8,880	9,861	11,626	12,857	14,147	14,659	14,843	14,898
Other Income	792	1,247	486	606	353	322	424	170	219	448	817	1,322	4,562
Profit before tax	5,215	6,320	6,026	6,467	7,306	8,604	9,165	10,605	11,879	13,344	13,926	14,415	17,674
Sales	29,234	31,972	32,186	33,162	35,545	39,310	39,783	47,028	52,446	60,580	61,896	63,121	64,544
Tax %	24%	31%	31%	31%	28%	30%	26%	25%	25%	24%	26%	26%	—

Balance Sheet

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Borrowings	46	43	177	277	0	99	0	0	1,043	1,219	1,484	1,648	1,775
CWIP	373	516	408	229	461	406	597	745	1,313	1,132	1,025	1,009	1,022
Equity Capital	216	216	216	216	216	216	216	235	235	235	235	235	235
Fixed Assets	2,746	2,821	3,258	4,419	4,528	4,715	5,479	51,443	51,473	52,678	53,744	54,335	58,126
Investments	2,838	3,025	2,592	3,794	2,873	2,716	1,255	2,709	3,521	2,882	4,625	3,810	3,958
Other Assets	7,797	8,067	8,535	7,264	10,000	10,792	12,822	13,843	14,199	16,385	19,095	20,709	18,928
Other Liabilities	10,171	10,359	8,043	8,685	10,581	10,663	11,924	21,066	20,402	21,554	25,787	28,813	31,543
Reserves	3,321	3,811	6,357	6,528	7,065	7,651	8,013	47,439	48,826	50,069	50,983	49,167	48,481
Total Assets	13,754	14,430	14,793	15,706	17,862	18,629	20,153	68,740	70,506	73,077	78,489	79,863	82,034
Total Liabilities	13,754	14,430	14,793	15,706	17,862	18,629	20,153	68,740	70,506	73,077	78,489	79,863	82,034

Cash Flow

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Financing Activity	-2,960	-3,462	-3,864	-4,214	-4,975	-5,390	-6,819	-9,309	-8,015	-8,953	-10,034	-13,101
Cash from Investing Activity	-475	138	-282	-1,173	-1,063	-438	1,791	-1,228	-1,728	-1,484	-5,324	6,473
Cash from Operating Activity	3,818	3,292	4,171	5,185	6,059	5,800	7,623	9,163	9,048	9,991	15,469	11,886
Net Cash Flow	383	-33	25	-202	21	-28	2,595	-1,374	-695	-446	111	5,258

Ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash Conversion Cycle	-72	-60	-67	-85	-107	-90	-101	-83	-64	-50	-70	-71
Days Payable	170	148	156	164	185	166	176	163	145	123	143	152
Debtor Days	13	12	14	12	13	17	11	14	16	19	18	22
Inventory Days	86	77	75	67	65	59	65	66	65	55	55	59
ROCE %	147%	139%	112%	91%	103%	116%	117%	39%	25%	27%	27%	28%
Working Capital Days	-54	-53	-26	-35	-37	-30	-31	-32	-22	-15	-22	-33

Shareholding Pattern

15.7%

10.7%

61.9%

11.6%

DIIs: 15.68% FIIs: 10.71% Government: 0.07% Promoters: 61.90% Public: 11.64%

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
DIIs	11.51%	11.47% ↓0.0	11.90% ↑0.4	12.31% ↑0.4	13.21% ↑0.9	14.09% ↑0.9	14.13% ↑0.0	14.67% ↑0.5	15.48% ↑0.8	15.99% ↑0.5	15.62% ↓0.4	15.68% ↑0.1
FIIs	14.36%	14.48% ↑0.1	13.90% ↓0.6	13.65% ↓0.3	12.67% ↓1.0	11.87% ↓0.8	12.17% ↑0.3	11.43% ↓0.7	10.62% ↓0.8	10.18% ↓0.4	10.79% ↑0.6	10.71% ↓0.1
Government	0.04%	0.04%	0.04%	0.04%	0.04%	0.05% ↑0.0	0.05%	0.06%	0.07% ↑0.0	0.07%	0.07%	0.07%
Promoters	61.90%	61.90%	61.90%	61.90%	61.90%	61.90%	61.90%	61.90%	61.90%	61.90%	61.90%	61.90%
Public	12.17%	12.09% ↓0.1	12.26% ↑0.2	12.11% ↓0.2	12.19% ↑0.1	12.11% ↓0.1	11.75% ↓0.4	11.94% ↑0.2	11.93%	11.86% ↓0.1	11.62% ↓0.2	11.64% ↑0.0
No. of Shareholders	11,27,982	10,96,270	11,76,411	11,32,965	12,05,416	12,10,989	11,05,254	12,18,001	12,33,438	11,67,945	10,95,447	11,12,713

15.7%

10.7%

61.9%

11.6%

DIIs: 15.68% FIIs: 10.71% Government: 0.07% Promoters: 61.90% Public: 11.64%

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
DIIs	5.66%	6.85% ↑1.2	7.03% ↑0.2	6.67% ↓0.4	10.68% ↑4.0	11.61% ↑0.9	11.51% ↓0.1	13.21% ↑1.7	15.48% ↑2.3	15.68% ↑0.2
FIIs	13.26%	12.56% ↓0.7	11.83% ↓0.7	12.10% ↑0.3	14.95% ↑2.8	13.66% ↓1.3	14.36% ↑0.7	12.67% ↓1.7	10.62% ↓2.1	10.71% ↑0.1
Government	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04% ↑0.0	0.04%	0.07% ↑0.0	0.07%
Promoters	67.20%	67.19% ↓0.0	67.19%	67.18%	61.90% ↓5.3	61.90%	61.90%	61.90%	61.90%	61.90%
Public	13.88%	13.39% ↓0.5	13.95% ↑0.6	14.05% ↑0.1	12.47% ↓1.6	12.83% ↑0.4	12.17% ↓0.7	12.19% ↑0.0	11.93% ↓0.3	11.64% ↓0.3
No. of Shareholders	3,32,275	3,10,063	3,78,368	4,59,182	7,69,663	13,61,506	11,27,982	12,05,416	12,33,438	11,12,713