Mumbai, 28 October 2026: HUL reported a 3.9 percent rise in net profit for the September quarter of financial year 2026-27, with net profit of 2,790 crore rupees against 2,685 crore rupees in the same quarter a year earlier. HUL, India’s largest consumer goods company, also announced an interim dividend of 19 rupees per share. Turnover for the quarter ended 30 September 2026 was 18,071 crore rupees, with underlying sales growth of 15 percent and underlying volume growth of 7 percent, the strongest sales quarter in 14 quarters and the strongest volume quarter in 22 quarters.
The HUL profit figure came in slightly above a Bloomberg estimate of 2,784 crore rupees, while revenue beat the ET NOW poll estimate of 17,582 crore rupees. Earnings before interest, tax, depreciation and amortisation rose 8 percent year on year to 4,089 crore rupees. The EBITDA margin narrowed by 140 basis points to 22.6 percent, from 23.8 percent a year earlier, as higher operating expenses and commodity inflation ate into profitability. Profit after tax before exceptional items grew 9 percent to 2,795 crore rupees.
The gap between the 9 percent rise before exceptional items and the near flat reported figure comes from the base. The September 2025 quarter included a one-off gain of 273 crore rupees from the resolution of earlier tax matters. The September 2026 quarter included a gain of 2 crore rupees from the sale of surplus assets. Strip out those one-offs and the underlying profit trend looks stronger than the headline suggests. Management kept consolidated EBITDA margin guidance for 2026-27 at 22 to 24 percent and said it expects the full year to outperform 2025-26.
HUL home care leads segment growth
Home Care was the main growth engine in the quarter. The segment posted underlying sales growth of 22 percent on double digit volume growth, with revenue up 21.4 percent year on year to 6,878 crore rupees from 5,664 crore rupees. Fabric wash and household care both grew volumes at double digit rates. Liquids kept growing at double digit rates, and the 99 rupee Surf Excel Easy Wash pack helped premiumisation in the powders category. HUL said market development work and pricing supported product penetration and volume momentum.
Beauty and Wellbeing followed with underlying sales growth of 16 percent, driven by hair care and skin care. Revenue in the segment rose 15.7 percent year on year to 4,319 crore rupees from 3,732 crore rupees. Personal Care grew 7.9 percent in revenue terms to 2,617 crore rupees from 2,425 crore rupees, with underlying sales growth of 9 percent, though its underlying volume growth was flat and segment profit declined. Foods revenue increased 8.5 percent to 3,849 crore rupees from 3,547 crore rupees, also with underlying sales growth of 9 percent.
HUL dividend dates and market reaction
The board declared an interim dividend of 19 rupees per equity share for financial year 2026-27. The record date for determining eligible shareholders is 12 November 2026, and payment is scheduled for 25 November 2026. HUL last declared a dividend of 22 rupees per share in June 2026. Shares first jumped 2.3 percent to an intraday high of 1,861.20 rupees after the results, then reversed course.
By mid-morning on 28 October, the HUL stock had fallen 1.8 percent to 1,779.80 rupees touching an intraday low of 1,765.50 rupees, near its 52-week low of 1,758.20 rupees. The stock has declined roughly 29 percent over the past year and nearly 23 percent since the start of the current financial year, well behind the Nifty 50. Market capitalisation stood at about 4.16 lakh crore rupees after the session. Management flagged continued commodity inflation in the near term but kept the margin guidance of 22 to 24 percent.
What HUL results signal for consumer demand
The September quarter numbers sit inside a wider story about Indian consumer demand. The company sells into almost every Indian household, from soaps and detergents to packaged foods, so its volume growth is read as a gauge of how willing consumers are to spend. A 7 percent volume rise, the best in 22 quarters, suggests shoppers bought more units rather than simply paying higher prices.
For HUL, costs remain the watch item. Commodity inflation pushed the EBITDA margin down 140 basis points even as sales grew 15 percent, and management acknowledged that pressure. If commodity prices cool, margins can recover without further price rises. If they stay high, the company will have to choose between protecting margins through prices, which risks volumes, or absorbing costs, which squeezes profit. The second half of 2026-27 will show which path it takes, with Home Care momentum and Personal Care volumes as the two numbers to track.