HUL Q1 preview: PAT may rise by 10%; volume growth to aid topline

HUL Q1 earnings preview: Analysts expect Hindustan Unilever's revenue to increase by 7-10 per cent, on the back of 5-7 per cent volume growth. PAT may rise by 10 per cent in the first quarter.

HUL Q1 results preview: FMCG giant Hindustan Unilever Limited (HUL) is likely to report a steady set of numbers for the June quarter of the current fiscal (Q1FY27). In an exchange filing, HUL has informed that a meeting of the Board of Directors will be held on July 28 (Tuesday) to consider the unaudited standalone and consolidated financial results for the quarter ended 30th June, 2026.

 

Analysts expect revenue to surge by 7-10 per cent, on the back of 5-7 per cent volume growth and premiumisation despite a challenging environment due to the West Asia conflict. Profit for the quarter under review may increase in the range of 9-10 per cent on a Y-o-Y basis, while the operating margins are expected to remain stable at around 23 per cent.

 

 

Analysts say key monitorables for the Street include management commentary on rural and urban demand trends, competitive intensity across categories, and raw material trends.

 

HUL Q1 results expectations by Axis Securities

 

As per estimates by Axis Securities, HUL's revenue is expected to grow 7.6 per cent Y-o-Y to ₹16,948 crore (ex-ice cream business) on the back of 5 per cent volume growth and 2.5 per cent price growth.

 

The brokerage sees the urban middle class continuing to trade up across FMCG categories, driving volume and mix improvement. However, it expects currency volatility and global uncertainty to impact revenue from export-facing business segments.

 

Ebitda may rise by 7.4 per cent Y-o-Y to ₹3,821 crore, while margins are likely to decline marginally by 3 bps to 22.3 per cent, led by GM contraction due to raw material cost inflation in edible oils, packaging polymers, and food commodities.

 

The net profit is seen rising by 9.9 per cent Y-o-Y to ₹2,737 crore, as per Axis Securities.

 

HUL Q1 results expectations by MOFSL

 

As per estimates by Motilal Oswal Financial Services, HUL's organic business is likely to deliver 9.3 per cent revenue growth at ₹17,210 crore in the June quarter, led by a 6 per cent volume growth.

 

Segment-wise, the brokerage expects revenue growth of 12 per cent in home care, 6 per cent in personal care, 13 per cent in Beauty and Wellbeing, and 8 per cent in F&B.

 

Ebitda may rise by 9.5 per cent to ₹3,990 crore, while margins could come in flat at 23.2 per cent. PAT is estimated to grow by 10 per cent to ₹2,780 crore.

 

HUL Q1 results expectations by YES Securities

 

As per YES Securities estimates, HUL's revenue is likely to rise by 8.5 per cent on an annual basis to ₹16,925 crore, led by 6.5 per  cent volume growth. Gross margins are expected to expand by 20bps Y-o-Y to 50.3 per cent, while Ebitda margins are expected to improve by 30bps Y-o-Y to 22.8 per cent.

 

Consequently, Ebitda and APAT are expected to grow by 9.9 per cent to ₹4,085.2 crore and 12.8 per cent to ₹2,848.2 crore Y-o-Y, respectively.

 

HUL Q1 results expectations by Emkay Research

 

According to Emkay Research, HUL is expected to deliver around 10 per cent Y-o-Y revenue growth at ₹17,278 crore led by 5 per cent volume growth and 4 per cent pricing growth. Growth is likely to be led by Home care (~10 per cent Y-o-Y). 

 

The gross margin is expected to see a decline of ~130bps Y-o-Y to ~49 per cent due to input cost inflation. It expects Ebitda growth of ~6 per cent Y-o-Y to ₹3,843.6 crore, with margin contraction of 90bps Y-o-Y to 22.2 per cent. PAT is seen at ₹2,668 crore, up 9 per cent Y-o-Y.