HUL Q4 FY26 results: Profit up 21%, stock drops 4%

What happened to HUL stock on results day

Shares of Hindustan Unilever Ltd (HUL) fell sharply on Thursday even after the company reported higher profit for the March quarter of FY26. On the BSE, the stock slipped as much as 4.4% to an intraday low of ₹2,211. Other reports from the same session put the intraday low around ₹2,231 and ₹2,223.20.

By late morning, HUL was down about 2.9% on the NSE at around ₹2,247, with about 2.5 million shares changing hands. The move came amid broader risk-off cues as the Sensex was reported to be down as much as 1,200 points intraday, with oil prices among the cited factors.

Q4FY26 profit: up over 20% year-on-year

HUL reported consolidated profit for the March quarter of FY26 at ₹2,992 crore, up 21.4% from ₹2,464 crore in the year-ago period. Other result recaps cited consolidated net profit of ₹2,994 crore for the quarter, while one report also mentioned profit after tax (PAT) of ₹3,002 crore including proceeds from the divestment of a stake in Nutritionalab Pvt. Ltd.

Despite the variations across summaries, the common thread was a year-on-year increase of about 20% or more for the quarter. The company also flagged growth being supported by volume expansion, with one filing noting 6% underlying volume growth (UVG) in the quarter.

Revenue: two reported figures, both showing growth

Revenue from operations was reported at ₹16,351 crore in one summary, up 7.6% year-on-year from ₹15,190 crore in Q4FY25. Another exchange-filing based recap put revenue from operations at ₹16,172 crore for the quarter and described growth of 8.13% year-on-year, while also stating it was driven by 6% underlying volume growth.

Given the different numbers cited across result write-ups, investors focused more on the direction of change than any single print. Management commentary also referred to improved demand conditions during FY26, suggesting the company is seeing better operating momentum versus earlier quarters.

Operating performance: EBITDA up, margin expansion

HUL’s EBITDA for the March quarter was reported at ₹3,877 crore, compared with ₹3,754 crore a year earlier, translating into 3.2% growth. EBITDA margin was stated at 23.7%, improving by 70 basis points year-on-year.

Separately, one recap of the quarter referenced underlying sales growth (USG) of 7% led by 6% UVG, and called it the company’s highest growth in 12 quarters. Segment performance data in the quarter, along with margin improvement, was a key part of the narrative even as the stock traded lower.

Segment snapshot: where growth came from

Home Care grew 9%, its strongest performance in 11 quarters, led by double-digit growth in Fabric Wash and high single-digit growth in Household Care. Beauty & Wellbeing delivered 8% USG with mid single-digit UVG, supported by strong double-digit growth in Hair Care.

Personal Care grew 5%, with Skin Cleansing recording high single-digit growth driven by Dove and Lux. The company also pointed to market development initiatives that supported double-digit competitive growth in premium soaps and bodywash.

Foods recorded 5% USG, led by high single-digit UVG. Within beverages, Tea saw low single-digit UVG, while Coffee continued strong double-digit growth supported by both volume and pricing.

FY26 numbers and one-off items referenced in reports

For the full fiscal year 2026 (FY26), HUL reported profit of ₹15,059 crore, with notes in result coverage that this included gains from the divestment in Nutritionalab Pvt. Ltd. in the fourth quarter. Total income for FY26 was reported at ₹65,219 crore, up 4.6%.

One report also said revenue from the sale of products rose 5.25% year-on-year to ₹63,636 crore during FY26. For the March quarter, total expenses were cited at ₹16,615 crore, up 7.2%, while total income (including other income) was ₹16,580 crore, up 5.01%.

Dividend: ₹22 final payout proposed, total ₹41 for FY26

HUL’s board proposed a final dividend of ₹22 per share (face value Re 1), subject to shareholder approval at the AGM. This was stated to be in addition to the interim dividend of ₹19 per share declared in October 2025.

That takes the total dividend for FY26 to ₹41 per share. Total dividend payout for FY26 was reported at ₹9,633 crore.

Management commentary: demand improved, focus on execution

Priya Nair, CEO and Managing Director, said FY26 saw an improved demand environment backed by supportive macroeconomic policies. She said the company took actions to accelerate growth, including portfolio sharpening, higher investments, stronger frontline demand generation, and organisational simplification.

She added that HUL remains positioned to navigate a volatile environment, supported by strong brands, a robust financial position and operational agility, with a focus on delivering sustainable and competitive growth.

Key numbers at a glance

Why the stock fell despite better profit

The price action suggests the market was not trading only on the profit headline. HUL’s results came on a day when broader equities were under pressure, with reports flagging a sharp intraday Sensex fall and oil-related concerns.

Also, the earnings coverage highlights that investors tracked volume-led growth and margins closely. While the quarter showed UVG of 6% and margin improvement to 23.7%, the stock still moved down, indicating expectations and near-term positioning mattered as much as reported year-on-year growth.

What to watch next

HUL scheduled its earnings conference call for April 30, 2026, following a board meeting to present the Q4 and full-year results. With multiple moving parts in FY26 numbers across reports, investors are likely to track management’s clarification on growth drivers, margin trajectory, and category momentum across Home Care, Beauty & Wellbeing, and Foods.

The final dividend proposal will also go to shareholders at the upcoming AGM, and the company’s commentary on navigating volatility will remain in focus.