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HUL

Hindustan Unilever Ltd

HINDUNILVR NSE
₹1,977.10 +14.30 (+0.73%)
P/E
30.84
View as Markdown
MCP
Close 4 Nov 2026 ₹1,977.10 −419.12 −17.5% 1Y
Start ₹2,396.22

Key Fundamentals

LargecapDiversified FMCGFMCG

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
28.40%
Debt to Equity
0.03
EPS (TTM)
₹64.10
Book Value
₹207.82
Market Cap
—
P/E (TTM)
30.84
P/B
9.51
ROE
31.00%
Dividend Yield
0.97%
EBITDA
₹15,805 Cr
52W High
₹2,479.60
52W Low
₹1,758.20
Day Range
₹1,941.10 – ₹1,982.00
Volume
17,70,643

Peer Comparison

Fast Moving Consumer Goods › Diversified FMCG

HUL peer comparison
HUL (this company)
₹1,977.1030.84₹4,60,520 Cr9.510.97%31.00%28.40%₹68,359 Cr₹15,073 Cr
ITC
₹280.0017.68₹3,52,421 Cr4.915.29%29.30%38.90%₹77,255 Cr₹20,184 Cr
Hindustan Foods
₹567.6543.00₹6,863 Cr5.920.00%14.60%14.10%₹4,400 Cr₹159 Cr
Godavari Biorefineries
₹224.877,495.67₹1,097 Cr1.460.00%4.08%6.43%₹2,013 Cr₹0 Cr
Davangere Sugar Company
₹1.9732.83₹332 Cr0.750.00%1.99%5.52%₹249 Cr₹8 Cr
Median 5 companies₹280.0032.83₹6,863 Cr4.910.00%14.60%14.10%₹4,400 Cr₹159 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

53 Average

Data confidence 100/100

insider_selling

Category scores

Quality
80
Strong
Returns, margins, earnings quality 22% weight
Valuation
36
Poor
Cheap vs sector & own history 24% weight
Growth
52
Average
Sales & profit trajectory 9% weight
Financial Health
89
Strong
Solvency, leverage, coverage 9% weight
Momentum
39
Weak
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 92.4%

Weaknesses

3
  • Stock is trading at 8.93 times its book value
  • The company has delivered a poor sales growth of 6.51% over past five years.
  • Earnings include an other income of Rs.4,826 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish829
OscillatorsBearish423
Moving AveragesStrong Bullish406

Key readings

RSI (14)
65.59
Neutral
MACD (12,26,9)
1.02
Bullish
SMA (50)
1,914.41
Bullish
SMA (200)
2,136.12
Bearish

As of

Analyst Rating

Based on 38 analysts
BUY74%

28 of 38 analysts rate Buy, 8 Hold, 2 Sell.

As of

BUY
28
74%
HOLD
8
21%
SELL
2
5%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+7.19%
5Y+6.51%
3Y+2.10%
1Y+5.12%
TTM+9.51%

Net profit

Net profit growth by window
10Y+13.75%
5Y+13.49%
3Y+14.08%
1Y+41.12%
TTM+37.96%

Operating cash flow

Operating cash flow growth by window
10Y+10.18%
5Y+3.72%
3Y+3.26%
1Y−7.46%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+4.97 pp
5Y−1.39 pp
3Y−0.02 pp
1Y−0.64 pp
TTM−0.69 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹33,162 Cr
Mar 2018₹35,545 Cr
Mar 2019₹39,310 Cr
Mar 2020₹39,783 Cr
Mar 2021₹47,028 Cr
Mar 2022₹52,446 Cr
Mar 2023₹60,580 Cr
Mar 2024₹61,896 Cr
Mar 2025₹61,328 Cr
Mar 2026₹64,468 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹4,490 Cr
Mar 2018₹5,227 Cr
Mar 2019₹6,060 Cr
Mar 2020₹6,756 Cr
Mar 2021₹7,999 Cr
Mar 2022₹8,892 Cr
Mar 2023₹10,143 Cr
Mar 2024₹10,282 Cr
Mar 2025₹10,671 Cr
Mar 2026₹15,059 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹4,124 Cr +0.7% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Hindustan Unilever Ltd trades at ₹1,898.3 as of 2026-11-02 with a market cap of ₹4,45,576 Cr. The company is virtually debt-free with a debt-to-equity ratio of 0.03 and has compounded profits at 14% over the past decade, though the stock has declined 22% over the last one year and trades at a P/E of 29.61x with slowing near-term profit growth of 5% TTM.

Bull Case 6
  • The company is almost debt-free with a debt-to-equity ratio of just 0.03, providing significant financial flexibility and resilience against interest rate cycles.
  • Consistent long-term profit compounder — 10-year compounded profit growth stands at 14% and 3-year compounded profit growth also at 14%, demonstrating earnings durability across cycles.
  • Return on equity of 31% in the last year and a 10-year average ROE of 28% reflect superior capital efficiency relative to most FMCG peers.
  • ROCE of 22.15% as of 2026-11-02 indicates the business generates strong returns on total capital employed, characteristic of a high-quality franchise.
  • Healthy dividend payout ratio of 92.4% combined with a 1.02% dividend yield offers consistent cash return to shareholders.
  • TTM sales growth has accelerated to 10%, a notable improvement over the 3-year compounded sales growth of just 2%, suggesting a potential volume and pricing recovery.
Bear Case 6
  • The stock has delivered a negative 1-year return of -22% and a negative 5-year CAGR of -4%, indicating sustained underperformance and capital erosion for existing shareholders.
  • The P/E ratio of 29.61x remains elevated for a company whose TTM profit growth has decelerated sharply to just 5%, suggesting the valuation leaves limited room for disappointment.
  • Five-year compounded sales growth of 7% and three-year compounded sales growth of only 2% point to structural demand challenges or market share pressures in key categories.
  • Earnings quality warrants scrutiny as other income of ₹4,826 Cr forms a material component of reported profits, potentially masking softer operating performance.
  • ROE has declined from a 10-year average of 28% to a 5-year average of 22%, indicating a gradual moderation in returns on equity over the medium term despite the last year's uptick to 31%.
  • The 3-year stock CAGR of -8% suggests the market has been persistently re-rating the stock downward, reflecting concerns that the premium valuation may not be justified by the underlying growth trajectory.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

7h ago

TL;DR: Hindustan Unilever is showing strong momentum with underlying sales growth jumping from 2% to 15% year-on-year, underpinned by volume-led gains and effective quick commerce execution. No material headwinds surfaced in the latest news cycle. The governance-related proposal on director pay is routine and unlikely to move the stock.

Positives 2
  • Sales growth surges to 15% Nov 04

    Underlying sales growth accelerated to 15% in SQ'26 from 2% in SQ'25, driven by volume-led revenue growth. Six brands exceed €300 million in turnover against a €6.3 billion total turnover in 2025.

  • Quick commerce approach pays off Nov 04

    Quick commerce strategy delivered a 1,400 bps improvement in fill rate and 1.2x better return on ad spend, supporting digital channel expansion.

Neutral 2
  • Director pay cap hike proposed Nov 04

    HUL proposes raising annual non-executive director remuneration cap to ₹15 crore or 1% of net profits, whichever is lower, effective April 1, 2026 to March 31, 2031. E-voting runs November 18 to December 17, 2026.

  • Capital Markets Day presentation Nov 04

    Investor presentation outlines focus areas including home care liquids, masstige beauty, hair care, and nutrition supplements as key growth pillars.

Quarterly Results

₹ Cr
HINDUNILVR quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
15,623
15,567
15,210
15,707
15,926
15,556
15,190
15,757
15,919
16,441
16,351
17,341
18,226
Expenses
11,828
11,902
11,675
11,965
12,139
11,867
11,572
12,118
12,137
12,660
12,514
13,394
14,137
Operating Profit
3,795
3,665
3,535
3,742
3,787
3,689
3,618
3,639
3,782
3,781
3,837
3,947
4,089
OPM %
24%
24%
23%
24%
24%
24%
24%
23%
24%
23%
23%
23%
22%
Other Income
178
184
309
209
203
733
149
103
269
4,048
503
113
160
Interest
88
91
105
93
110
109
77
122
124
88
76
75
74
Depreciation
297
313
320
329
338
318
318
326
322
337
348
353
363
PBT
3,590
3,446
3,419
3,531
3,542
3,995
3,372
3,294
3,605
7,404
3,916
3,632
3,814
Tax %
26%
27%
25%
26%
27%
25%
27%
16%
25%
11%
24%
26%
27%
Net Profit
2,657
2,508
2,561
2,612
2,595
2,989
2,475
2,768
2,694
6,603
2,994
2,680
2,796
EPS (₹)
11.3
10.68
10.89
11.11
11.03
12.7
10.49
11.73
11.43
28.12
12.73
11.38
11.87

Profit & Loss

₹ Cr
HINDUNILVR profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
31,972
32,186
33,162
35,545
39,310
39,783
47,028
52,446
60,580
61,896
61,328
64,468
68,359
Expenses
26,560
26,276
26,834
28,046
30,430
29,922
35,402
39,589
46,433
47,237
46,630
49,429
52,705
Operating Profit
5,412
5,910
6,328
7,499
8,880
9,861
11,626
12,857
14,147
14,659
14,698
15,039
15,654
OPM %
17%
18%
19%
21%
23%
25%
25%
25%
23%
24%
24%
23%
23%
Other Income
1,247
486
606
353
322
424
170
219
448
817
1,355
4,923
4,826
Interest
18
17
35
26
33
118
117
106
114
334
381
410
313
Depreciation
322
353
432
520
565
1,002
1,074
1,091
1,137
1,216
1,253
1,333
1,401
PBT
6,320
6,026
6,467
7,306
8,604
9,165
10,605
11,879
13,344
13,926
14,419
18,219
18,766
Tax %
31%
31%
31%
28%
30%
26%
25%
25%
24%
26%
26%
17%
—
Net Profit
4,376
4,151
4,490
5,227
6,060
6,756
7,999
8,892
10,143
10,282
10,671
15,059
15,073
EPS (₹)
20.17
19.18
20.68
24.09
27.97
31.17
34.03
37.79
43.07
43.74
45.32
64.01
64.1
Div. Payout %
74%
83%
82%
83%
78%
80%
119%
90%
91%
96%
117%
64%
—

Balance Sheet

₹ Cr
HINDUNILVR balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
216
216
216
216
216
216
235
235
235
235
235
235
235
Reserves
3,811
6,357
6,528
7,065
7,651
8,013
47,439
48,826
50,069
50,983
49,167
48,504
48,595
Borrowings
43
177
277
0
99
0
0
1,043
1,219
1,484
1,648
1,478
1,672
Other Liabilities
10,359
8,043
8,685
10,581
10,663
11,924
21,066
20,402
21,554
25,787
28,813
29,521
32,405
Total Liabilities
14,430
14,793
15,706
17,862
18,629
20,153
68,740
70,506
73,077
78,489
79,863
79,738
82,907
Fixed Assets
2,821
3,258
4,419
4,528
4,715
5,479
51,443
51,473
52,678
53,744
54,335
57,428
57,618
CWIP
516
408
229
461
406
597
745
1,313
1,132
1,025
1,009
880
1,000
Investments
3,025
2,592
3,794
2,873
2,716
1,255
2,709
3,521
2,882
4,625
3,810
4,359
7,477
Other Assets
8,067
8,535
7,264
10,000
10,792
12,822
13,843
14,199
16,385
19,095
20,709
17,071
16,812
Total Assets
14,430
14,793
15,706
17,862
18,629
20,153
68,740
70,506
73,077
78,489
79,863
79,738
82,907

Cash Flow

₹ Cr
HINDUNILVR cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
3,292
4,171
5,185
6,059
5,800
7,623
9,163
9,048
9,991
15,469
11,886
10,999
Investing
138
−282
−1,173
−1,063
−438
1,791
−1,228
−1,728
−1,484
−5,324
6,473
−3,676
Financing
−3,462
−3,864
−4,214
−4,975
−5,390
−6,819
−9,309
−8,015
−8,953
−10,034
−13,101
−10,810
Net Cash Flow
−33
25
−202
21
−28
2,595
−1,374
−695
−446
111
5,258
−3,487
Free Cash Flow
3,246
3,460
4,248
5,196
5,046
6,813
5,097
7,995
8,980
14,012
10,624
9,667
CFO/EBITDA
95
100
111
111
96
103
100
92
93
108
96
105

Ratios

HINDUNILVR financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
12
14
12
13
17
11
14
16
19
18
23
19
Inventory Days
77
75
67
65
59
65
66
65
55
55
61
61
Days Payable
148
156
164
185
166
176
163
145
123
143
156
169
Cash Conversion Cycle
−60
−67
−85
−107
−90
−101
−83
−64
−50
−70
−72
−89
Working Capital Days
−53
−26
−35
−37
−30
−31
−32
−22
−15
−22
−34
−23
ROCE %
139%
112%
91%
103%
116%
117%
39%
25%
27%
27%
28%
28%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view HUL insights

73 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 61.90%
  • DIIs 17.13%
  • Public 10.02%
  • FIIs 9.26%
  • Others 1.69%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about HUL

What does Hindustan Unilever Ltd do?
Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care and Foods & Refreshment segments. The Company has manufacturing facilities across the country and sells primarily in India.
Where is Hindustan Unilever Ltd (HINDUNILVR) listed?
Hindustan Unilever Ltd trades as HINDUNILVR on the NSE and under code 500696 on the BSE.
Which sector does Hindustan Unilever Ltd belong to?
Hindustan Unilever Ltd is classified under the Fast Moving Consumer Goods sector, in the Diversified FMCG industry.
What is the PE ratio of Hindustan Unilever Ltd?
Hindustan Unilever Ltd trades at a PE ratio of 30.84 as of 4 Nov 2026, on earnings per share of ₹64.1, against a book value of ₹207.82 per share.
What is the 52-week high and low of Hindustan Unilever Ltd?
Over the last 52 weeks Hindustan Unilever Ltd has traded between ₹1,758.2 and ₹2,479.6 as of 4 Nov 2026.
Does Hindustan Unilever Ltd pay dividends?
Hindustan Unilever Ltd has a dividend yield of 0.97%.
What is the Return on Equity (ROE) of Hindustan Unilever Ltd?
Hindustan Unilever Ltd reported a return on equity of 31.00%. Its debt-to-equity ratio is 0.03.

Company Information

Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care and Foods & Refreshment segments. The Company has manufacturing facilities across the country and sells primarily in India.

Website hul.co.in
CEO Mr. Bittianda Ponnappa Biddappa
Employees 18,802
Listed 6 Jul 1995
Face Value ₹1

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