Hindustan Unilever Ltd.

HINDUNILVRFast Moving Consumer Goods filings

Earnings calls

18 transcript(s)/analyst meet(s) served; 5 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.

Kind	Date	Period	Served
COVER_LETTER	20220504	2022-03-31	no
COVER_LETTER	20220725	2022-06-30	no
TRANSCRIPT	20221031	2022-09-30	yes
COVER_LETTER	20230125	2022-12-31	no
COVER_LETTER	20230504	2023-03-31	no
TRANSCRIPT	20230726	2023-06-30	yes
TRANSCRIPT	20231026	2023-09-30	yes
TRANSCRIPT	20240125	2023-12-31	yes
TRANSCRIPT	20240430	2024-03-31	yes
COVER_LETTER	20240729	2024-06-30	no
TRANSCRIPT	20241029	2024-09-30	yes
TRANSCRIPT	20250129	2024-12-31	yes
TRANSCRIPT	20250430	2025-03-31	yes
TRANSCRIPT	20250807	2025-06-30	yes
TRANSCRIPT	20251029	2025-09-30	yes
TRANSCRIPT	20260219	2025-12-31	yes
TRANSCRIPT	20260507	2026-03-31	yes
TRANSCRIPT	20260804	2026-06-30	yes

Model workbook

Download HINDUNILVR_model_v2.xlsx — every figure in it names the filing, the reporting context and the period it was read from.

Commentary — cross-call tabulation

Quarter	Theme	Management sentences	Analyst sentences	Management share
Q1FY24	AI and technology	2	1	0.00
Q1FY24	Capex and capacity	5	3	0.01
Q1FY24	Capital allocation	5	1	0.01
Q1FY24	Competition	3	4	0.00
Q1FY24	Credit quality	4	0	0.01
Q1FY24	Currency and macro	50	6	0.08
Q1FY24	Demand and volumes	77	3	0.12
Q1FY24	Deposits and liquidity	0	0	0.00
Q1FY24	Distribution and persistency	6	0	0.01
Q1FY24	Margins and costs	81	13	0.13
Q1FY24	People and attrition	2	0	0.00
Q1FY24	Pricing and realisation	72	7	0.11
Q1FY24	Raw materials and input costs	21	2	0.03
Q1FY24	Regulation and policy	4	0	0.01
Q1FY26	AI and technology	8	1	0.02
Q1FY26	Capex and capacity	3	0	0.01
Q1FY26	Capital allocation	0	2	0.00
Q1FY26	Competition	2	0	0.01
Q1FY26	Credit quality	1	0	0.00
Q1FY26	Currency and macro	13	2	0.04
Q1FY26	Demand and volumes	23	4	0.07
Q1FY26	Deposits and liquidity	0	0	0.00
Q1FY26	Distribution and persistency	2	2	0.01
Q1FY26	Margins and costs	24	1	0.07
Q1FY26	People and attrition	0	0	0.00
Q1FY26	Pricing and realisation	35	10	0.10
Q1FY26	Raw materials and input costs	9	1	0.03
Q1FY26	Regulation and policy	2	0	0.01
Q1FY27	AI and technology	2	0	0.01
Q1FY27	Capex and capacity	1	0	0.00
Q1FY27	Capital allocation	6	0	0.02
Q1FY27	Competition	1	2	0.00
Q1FY27	Credit quality	0	0	0.00
Q1FY27	Currency and macro	12	3	0.05
Q1FY27	Demand and volumes	11	7	0.04
Q1FY27	Deposits and liquidity	0	0	0.00
Q1FY27	Distribution and persistency	4	2	0.02
Q1FY27	Margins and costs	16	2	0.06
Q1FY27	People and attrition	0	0	0.00
Q1FY27	Pricing and realisation	20	6	0.08
Q1FY27	Raw materials and input costs	9	1	0.04
Q1FY27	Regulation and policy	3	0	0.01
Q2FY23	AI and technology	15	1	0.03
Q2FY23	Capex and capacity	1	0	0.00
Q2FY23	Capital allocation	6	0	0.01
Q2FY23	Competition	9	6	0.02
Q2FY23	Credit quality	1	0	0.00
Q2FY23	Currency and macro	53	2	0.11
Q2FY23	Demand and volumes	35	4	0.07
Q2FY23	Deposits and liquidity	0	0	0.00
Q2FY23	Distribution and persistency	3	1	0.01
Q2FY23	Margins and costs	60	3	0.12
Q2FY23	People and attrition	4	1	0.01
Q2FY23	Pricing and realisation	41	7	0.08
Q2FY23	Raw materials and input costs	33	0	0.07
Q2FY23	Regulation and policy	7	0	0.01
Q2FY24	AI and technology	10	1	0.02
Q2FY24	Capex and capacity	3	1	0.01
Q2FY24	Capital allocation	9	0	0.02
Q2FY24	Competition	5	1	0.01
Q2FY24	Credit quality	1	0	0.00
Q2FY24	Currency and macro	26	1	0.05
Q2FY24	Demand and volumes	58	8	0.12
Q2FY24	Deposits and liquidity	0	0	0.00
Q2FY24	Distribution and persistency	5	2	0.01
Q2FY24	Margins and costs	48	2	0.10
Q2FY24	People and attrition	1	0	0.00
Q2FY24	Pricing and realisation	53	6	0.11
Q2FY24	Raw materials and input costs	30	0	0.06
Q2FY24	Regulation and policy	4	0	0.01
Q2FY25	AI and technology	2	0	0.01
Q2FY25	Capex and capacity	1	0	0.00
Q2FY25	Capital allocation	0	0	0.00
Q2FY25	Competition	4	6	0.01
Q2FY25	Credit quality	0	0	0.00
Q2FY25	Currency and macro	19	4	0.06
Q2FY25	Demand and volumes	17	11	0.05
Q2FY25	Deposits and liquidity	0	0	0.00
Q2FY25	Distribution and persistency	6	11	0.02
Q2FY25	Margins and costs	19	5	0.06
Q2FY25	People and attrition	0	0	0.00
Q2FY25	Pricing and realisation	30	13	0.09
Q2FY25	Raw materials and input costs	14	0	0.04
Q2FY25	Regulation and policy	1	0	0.00
Q2FY26	AI and technology	5	1	0.01
Q2FY26	Capex and capacity	0	0	0.00
Q2FY26	Capital allocation	6	1	0.02
Q2FY26	Competition	0	1	0.00
Q2FY26	Credit quality	0	0	0.00
Q2FY26	Currency and macro	5	1	0.01
Q2FY26	Demand and volumes	34	16	0.09
Q2FY26	Deposits and liquidity	0	0	0.00
Q2FY26	Distribution and persistency	9	4	0.02
Q2FY26	Margins and costs	17	1	0.05
Q2FY26	People and attrition	3	0	0.01
Q2FY26	Pricing and realisation	17	4	0.05
Q2FY26	Raw materials and input costs	4	1	0.01
Q2FY26	Regulation and policy	19	11	0.05
Q3FY24	AI and technology	17	3	0.03
Q3FY24	Capex and capacity	2	0	0.00
Q3FY24	Capital allocation	3	0	0.00
Q3FY24	Competition	22	0	0.03
Q3FY24	Credit quality	0	0	0.00
Q3FY24	Currency and macro	25	4	0.04
Q3FY24	Demand and volumes	56	11	0.09
Q3FY24	Deposits and liquidity	0	0	0.00
Q3FY24	Distribution and persistency	7	3	0.01
Q3FY24	Margins and costs	51	7	0.08
Q3FY24	People and attrition	2	0	0.00
Q3FY24	Pricing and realisation	65	11	0.10
Q3FY24	Raw materials and input costs	19	0	0.03
Q3FY24	Regulation and policy	2	0	0.00
Q3FY25	AI and technology	2	0	0.01
Q3FY25	Capex and capacity	2	0	0.01
Q3FY25	Capital allocation	7	4	0.02
Q3FY25	Competition	3	4	0.01
Q3FY25	Credit quality	0	0	0.00
Q3FY25	Currency and macro	10	6	0.03
Q3FY25	Demand and volumes	24	6	0.08
Q3FY25	Deposits and liquidity	0	0	0.00

Guidance items

quarter	metric	direction	sentence	page
Q2FY23	other	nan	Then Ritesh will cover our financial results in more detail and share our future outlook.	3
Q2FY23	other	nan	Let me first start with a quick summary of our performance for the quarter and then cover the external environment and our strategy, then of course, we will hav	3
Q2FY23	other	nan	It includes a range of 11 skin care products and curated regime kits proven to offer best-in-class acne treatment at each stage of Acne Lifecycle.	5
Q2FY23	other	nan	Very quickly, we were able to curate the right mixes providing targeted solutions for every state of the acne life cycle.	6
Q2FY23	other	nan	Project Shakti, we had launched this in the early part of this millennium with the aim to financially empower and provide livelihood opportunities to women in r	6
Q2FY23	other	nan	With this, let me now hand over to Ritesh, our CFO, to talk about our performance in this quarter and our outlook in much more detail.	7
Q2FY23	other	nan	I will now walk you through our in-quarter performance and our outlook.	7
Q2FY23	other	nan	As I mentioned earlier, we had a one-off tax prior period adjustment in this quarter and including that, our ETR for this fiscal year is expected to be around 2	11
Q2FY23	other	nan	Now moving on to our outlook, let me start with giving you some more color on how inflation is panning out.	11
Q2FY23	margin	LOWERED	With this softening and if other commodities remain at their current elevated levels, we expect our December quarter NMI to be slightly lower than our September	12
Q2FY23	margin	LOWERED	If commodities were to remain where they are today, we expect the price versus cost gap to marginally narrow leading to a sequential improvement in gross margin	12
Q2FY23	other	nan	With the likely increase in media intensity, we expect a step-up in our A&P investments.	12
Q2FY23	other	LOWERED	We expect our December quarter NMI to be marginally lower than September quarter, albeit remaining significantly high on a year-on-year basis.	13
Q2FY23	margin	nan	Consequently, gross margin in DQ is expected to improve sequentially along with a step-up in A&P investments.	13
Q2FY23	other	nan	And I had alluded at that point in time that we expect to see sequentially more inflation in the next quarter.	16
Q2FY23	other	nan	Our outlook for the quarter starting the December quarter we should see slight reduction in the net material inflation for December quarter.	16
Q2FY23	margin	nan	Now with this some amount of cooling off of vegetable oil, we should see, slight improvement in the net material inflation and hence we should see sequential gr	17
Q2FY23	other	nan	So, I also expect advertising and sales promotion intensity to go up and hence our investment in A&P to go up next quarter.	17
Q2FY23	margin	nan	That is the backdrop and hence, I was kind of looking at from the lens that I was in or when we were looking in the first quarter whatever margins we were expec	17
Q2FY23	other	nan	Be it the outlook of	17
Q2FY23	other	nan	Now, coming to outlook, I do believe the single biggest factor which will determine rural outcome as far as FMCG is concerned is the impact of commodity.	18
Q2FY23	other	nan	We are yet to see how that pans out in terms of the crop going forward.	19
Q2FY23	other	nan	I do believe that with crude oil remaining firm, as I mentioned to you, because of the currency, but with some cooling off happening to some extent in vegetable	27
Q2FY23	other	nan	And that, in my mind, will be the single biggest determinant of what we should expect going forward.	29
Q2FY23	other	nan	And if at all the rural economy just pan out basis government intervention, we should see a better outlook.	29
Q2FY23	other	nan	But as I mentioned earlier, we would want to see for a few more months before we start signaling a trajectory	29
Q2FY23	other	nan	And the latest quarter, 3-month number of September quarter, has only borne out of what we have been giving our narrative on outlook even in the prior quarters.	30
Q1FY24	other	nan	We will start with prepared remarks from Rohit and Ritesh, which I expect to take around 20 minutes, leaving us about an hour for our Q&A session at the end.	3
Q1FY24	other	nan	I will then come back to share my perspectives about the operating environment and our outlook.	4
Q1FY24	volume	nan	Public Hopefully, this helps you better understand our volume growth trajectory and the divergence we have seen between categories.	7
Q1FY24	other	nan	Pureit has launched a new range of water purifier Revito with best-in-class filtration technology independently certified for heavy metal removal and gives high	7
Q1FY24	other	nan	Expanding this product line further Knorr introduced a range of Chinese sauces - Green Chilli, Red Chilli and Dark Soy Sauce.	7
Q1FY24	other	nan	We expect this to come down slightly on a full year basis. • I would like to remind you that our ETR in Financial Year '23 was positively benefited due to prior	9
Q1FY24	other	nan	Let me now move on to our near-term outlook.	10
Q1FY24	other	nan	Looking at demand from consumer lens, we should be mindful that consumers are still facing high levels of cumulative inflation.	10
Q1FY24	other	nan	Clearly, the operating environment remains volatile and we should be watchful of how these variables pan out.	10
Q1FY24	other	nan	Speaking specifically about outlook for the next couple of quarters. • Price growth will tail off further with lapping of high prices in the base and sequential	10
Q1FY24	other	nan	If commodities remain where they are, we expect our price growth to be near flat or marginally negative. • With inflation moderating, the competitive intensity	10
Q1FY24	volume	nan	With this, we expect to sustain our volume growth momentum.	10
Q1FY24	other	nan	Let me now turn to the operating context and our outlook.	11
Q1FY24	other	nan	We expect volumes to continue recover gradually due to the high levels of cumulative inflation and the fact that consumption habits typically recover with a lag	11
Q1FY24	other	nan	Notwithstanding these near-term concerns, I remain confident and positive about the mid to long-term outlook for FMCG sector in India and HUL's growth prospects	12
Q1FY24	other	nan	And of course, after that, we expect them to start changing their behavior and start to consume more.	13
Q1FY24	other	nan	And we expect it to be similar this time as well.	14
Q1FY24	other	nan	Public know, is very exciting, and we have very strong positions and we should be able to leverage and exploit that to grow our company to the next level and do	16
Q1FY24	other	nan	We do see that on growth rates and for instance, in our premium part of the portfolio, where Pears and Dove have shown smart growth, and we expect that to conti	21
Q1FY24	other	nan	So, we expect liquids to grow, including regimes like scrubs and bath and shower experiences.	21
Q1FY24	volume	nan	So, volume trajectory is very strong and robust in comparison to where markets are growing.	22
Q1FY24	volume	nan	Sorry, we will not be able to guide you to a precise number of volume growth in the next few quarters, but I hope that the narrative helped you to gauge where o	37
Q2FY24	other	nan	Ritesh will then cover our financial results in more detail and also share the near-term outlook.	3
Q2FY24	other	nan	We expect the prepared remarks to take about 20 to 25 minutes, and leaving us with ample time for Q&A.	3
Q2FY24	other	nan	Speaking about progress made on some of our key sustainability initiatives: As a part of our sustainability goals that we had announced last year we have Net ze	5
Q2FY24	other	nan	With an aim to mobilize actions to achieve net zero, we hosted more than 100 representatives from our Home Care supplies across the world in our first Clean Fut	5
Q2FY24	other	nan	The more affluent population is expected to double by 2027, naturally their per capita FMCG consumption is much higher at about 1.5 to 2 times compared to natio	7
Q2FY24	other	nan	Starting with innovations in Home Care: • Comfort expanded its range with Intense Fabric conditioners created specifically for sportswear. • A new range of Vim	10
Q2FY24	other	nan	Vaseline has introduced a new range of premium moisturizers for rich sensorial experience.	11
Q2FY24	other	nan	We have launched an exclusive range of artisinal Ice Creams called Slow Churn ice-creams.	12
Q2FY24	other	nan	When it comes to cost synergies, we have unlocked most of the planned synergies with some more expected to come from manufacturing efficiencies over the next tw	13
Q2FY24	other	nan	As we have mentioned earlier, we expect regular ETR for the year to be about 26.5% versus 26% that we had in the last fiscal.	14
Q2FY24	volume	nan	Overall, we expect volume recovery to remain gradual.	15
Q2FY24	other	nan	If commodity prices remain where they are, we expect our price growth to be marginally negative.	15
Q2FY24	pricing	nan	Public moderated going forward, given the pricing actions that all the players are doing.	18
Q2FY24	other	nan	So, overall, if I summarize, we are cautiously optimistic, and we expect demand to continue to recover gradually.	18
Q2FY24	other	nan	That said, when you look at the, my most important emphasis is going forward and I tried to cover that in	22
Q2FY24	other	nan	So, scale insurgence, even going forward when we take intelligent risks, we have already 16 clusters, we have 16 small category teams, each of them can be our o	24
Q2FY24	volume	nan	So, Arnab let me just talk about the outlook for volume to start with.	25
Q2FY24	other	nan	So, sans that this should get stabilized next quarter number one, and number two the small player -of course this is something which is again very much linked t	27
Q2FY24	other	nan	The headspace on this category should be a lot, and apart from the fact that it’s got this market development runway, this is also a category which is good for	27
Q2FY24	volume	nan	And the first question you are trying to ask is the outlook, that we have a volume going ahead.	30
Q2FY24	other	nan	And then coming back to outlook is what I was responding earlier.	30
Q2FY24	other	nan	And we have a more stable outlook going forward in terms of commodity and hence impact of that in terms of positive impact of that on the demand generation over	30
Q2FY24	other	nan	But the overall aggregate narrative is, cautiously optimistic with continued recovery of demand outlook.	31
Q2FY24	other	nan	Now of course, as we speak to the extent where commodities are today, and whatever near term outlook we have, as far as we are concerned, we have finished doing	31
Q3FY24	other	nan	We will start with prepared remarks from Rohit and Ritesh, where we will cover an overview of the operating environment, our performance in the quarter and outl	3
Q3FY24	other	nan	We expect this to take around 25 minutes, leaving us with an hour for the Q&A session.	3
Q3FY24	other	nan	Public With this, let me now hand over to Ritesh to talk about our performance in this quarter and our outlook in detail.	7
Q3FY24	other	nan	In the near term, we expect our MAT Business winning metric to be impacted as we lap the high deals.	7
Q3FY24	other	nan	We expect it to dip below 60 percentage for a couple	7
Q3FY24	other	nan	Bru Gold expanded its product portfolio with a new range of flavored coffee.	10
Q3FY24	other	nan	On a full year basis, we expect that other expenses to be circa 13 percentage of turnover, which is in line with our long-term trends.	11
Q3FY24	tax rate	nan	Effective tax rate for the quarter was 26.6%, and we expect our full year ETR to be marginally above 26% after taking into consideration prior period tax adjust	12
Q3FY24	other	nan	Let me now turn to outlook.	12
Q3FY24	other	nan	We expect the gradual recovery in market demand to continue, aided by increased government spending, recovery in winter crop sowing and better crop realizations	12
Q3FY24	other	nan	If commodity prices remain where they are, we expect our price growth to be marginally negative in March quarter.	12
Q3FY24	other	nan	We are hoping that going forward from next quarter onwards, it's gone back to the equilibrium that we had pre this disturbing period of inflation, deflation and	16
Q3FY24	other	nan	So we expect that to get stabilized from this quarter from March quarter onwards, that's on detergent bars.	16
Q3FY24	other	nan	So, and we know that tea next season, August, September onwards, Next year, we will come to know how it is different.	17
Q3FY24	other	nan	And that -- now that the milk prices are sort of stabilizing to softening, we feel that we should be able to be more kind or -- watch as we go forward.	24
Q3FY24	other	nan	So we expect to see a stronger performance going forward.	24
Q3FY24	other	nan	And for specific numbers, I request Ritesh to fill you in with really how we've done this quarter and then a little bit on the outlook ahead.	24
Q3FY24	other	nan	In fact, in my outlook, we were calling out that going forward, we see further stepping up of investments given the job that Rohit was articulating on further d	27
Q3FY24	other	nan	From here, we have to dial up investments, they will be hurt, to your point, on margins from next quarter onwards on GSK portfolio, which we're earning roughly	27
Q3FY24	other	nan	Public becoming effectively the new oil and better targeting will become the name of the game to get the competitive advantage.	31
Q3FY24	other	nan	Now the only way you can get some headroom for price, though the outlook I mentioned for the next quarter is still a marginal price decline.	32
Q3FY24	margin	nan	Public out, within mix, NRM and net cost competitiveness and hence net production cost reduction are the three levers that we want to use to drive gross margin	33
Q3FY24	other	nan	That's exactly what we want to do, which is, as I mentioned, we expect that to dip below 60%.	38
Q3FY24	other	nan	We expect recovery to happen of F&R as commodity starts to moderate, and we'll start seeing that consumption coming up.	39
Q3FY24	other	nan	Long-term average for FMCG, we do expect 4% to 5% price growth to be there, which we have not seen, as you saw in current quarter in fact it was negative 2%, we	40
Q4FY24	other	nan	We will start with prepared remarks from Rohit and Ritesh, where we will cover an overview of our performance in the financial year and in March quarter and our	3
Q4FY24	other	nan	We expect this to take around 30 minutes, which will leave us with an hour for the Q&A session.	3
Q4FY24	other	nan	Last quarter, we discussed how we expect our MAT business winning metric	4
Q4FY24	other	nan	In January this year, we unveiled our first addition of the beauty collective, through which we aim to strengthen Beauty partnerships with e-commerce and modern	9
Q4FY24	other	nan	Through these actions, we aim to build a future-fit portfolio and capabilities that will enable us to meet the evolving needs of Indian beauty consumers.	9
Q4FY24	other	nan	Going forward, we will accelerate our sustainable agenda around four key priorities that have the biggest material impact on the business, notably climate, natu	10
Q4FY24	other	nan	I will now walk you through our in-quarter and financial year performance in more detail and also then cover our outlook.	11
Q4FY24	other	nan	With summer rolling in, we have launched a range of sun care products catering to different consumer needs.	13
Q4FY24	other	nan	Dove sensitive care range of body wash and soap, which helps repair skin’s weakened barrier was launched.	13
Q4FY24	other	nan	Whilst we expect to start seeing a change in the category’s performance trajectory, it is likely to take a few quarters before the full benefit is felt.	14
Q4FY24	other	nan	Moving to segmental performance for the financial year, this year has witnessed a transition from high commodity inflation to deflation in 75% of our portfolio.	17
Q4FY24	other	nan	Let me now turn to outlook.	18
Q4FY24	other	nan	We expect FMCG demand to continue improving gradually, forecast of above-normal monsoons and improving macro-economic indicators augur well.	18
Q4FY24	other	nan	We expect our price growth to be low single digit decline in near term.	18
Q4FY24	other	nan	As I spoke earlier on skin cleansing, actions are underway to address performance in this segment, and we expect to see an improvement over the midterm.	18
Q4FY24	other	nan	While we expect near-term demand to recover gradually, we remain very confident of mid- to long-term opportunity in Indian FMCG.	18
Q4FY24	other	nan	So it's a pretty good outcome and we have spoken in the past as well that our trajectory of building penetration has yielded results continuously.	26
Q4FY24	other	nan	And going forward, the focus singularly for us remains keep building consumption.	27
Q4FY24	other	nan	And we did call out on one of the slides, the six big bets that we want to take in Beauty segment going forward.	28
Q4FY24	other	nan	So the way we see going forward in the Beauty space, two or three clear callouts.	28
Q4FY24	other	nan	And we expect that to come back in the next quarter or two because we've seen the same happening with NSD bars.	30
Q4FY24	other	nan	And we have taken the actions that we needed to take, and it should recover back in the next quarter or two.	31
Q4FY24	other	nan	And then we'll come to know what the, if at all, the trajectory of that $850 changes materially.	32
Q4FY24	pricing	nan	And, we expect to see a positive low single digit price increase in second half of this financial year.	33
Q4FY24	volume	nan	Going forward, improving mix, number one, which is what we want to see; further volume growth, number two; number three, price growth.	34
Q4FY24	other	nan	So those are the conditions which need to be existing for us to then start going towards a higher band or for that matter going beyond 24%, which is A- trajecto	35
Q4FY24	other	nan	But if we -- if all of those jobs and livelihoods that get created, there is -- I mean that money should end up going back to the households more in the mass en	38
Q4FY24	other	nan	All of them are growing, and we expect the e- commerce growth to continue and it is sustained.	48
Q4FY24	other	nan	The idea is to separate the business given the business model, and they will end up doing this entire job by second half of next year, calendar next year, 2025.	53
Q2FY25	other	nan	We expect this to take around 30 minutes, leaving us with an hour for the Q&A session.	3
Q2FY25	other	nan	I will then hand over to Ritesh to take you through our results and outlook in detail.	3
Q2FY25	volume	nan	Market volume growth trajectory remained muted in this quarter.	3
Q2FY25	other	nan	Let me take you through our quarter results in a little more detail, followed by first half update and round it up with our outlook in the near term.	9
Q2FY25	other	nan	And of course, the key objective that the independent committee and hence, Board going forward, will end up making a decision on is -what's the best route in wh	15
Q2FY25	pricing	nan	Net of the savings, net inflation is what we will end up pricing going forward.	16
Q2FY25	other	nan	And this is why we also called out that against declining UPG for the last few quarters, if I exclude the one-off impact of flat UPG current quarter, we will en	16
Q2FY25	other	nan	So the central reason of doing that is our ability to upgrade and deliver more functional benefits going forward.	23
Q2FY25	other	nan	So going forward, of course, we'll end up taking price increases, which we have done, started taking price increases in December quarter, and you will see how i	27
Q2FY25	other	nan	We will see them going into the market in this quarter and the next quarter, and we are all very much laser-focused to basically get Glow & Lovely back on track	37
Q2FY25	other	nan	With OZiva, we already have our very clear contract in place as that at the end of 3-year period with an agreed pre-formula will end up acquiring the balance bu	42
Q3FY25	other	nan	We expect this to take around 35 minutes, leaving us with approximately an hour for the Q&A.	3
Q3FY25	other	nan	Ritesh will then present our results in greater details, share more information on our recently announced acquisition and round it up with our near-term outlook	3
Q3FY25	margin	nan	EBITDA margin was maintained within the healthy range of 23% to 24%, while we continued to invest behind our brands and remain competitive in our A&P spends.	9
Q3FY25	other	nan	When we saw muted, we had a comment in the last quarter that we expect demand trends to be stable, which means it will be at a similar level as we saw in the pr	27
Q3FY25	capex	nan	Synergies of off-line distribution, synergies of international expansion, synergies of supply chain, cost, procurement, capacity, all that once we add with a ve	29
Q3FY25	other	nan	And I think we cannot forecast the future with a high level of accuracy but what we can forecast is what we should be doing.	32
Q3FY25	other	nan	If I look at mix going forward, I do believe and we do believe at this point in time that the impact of small pack negative mix should self-correct in a quarter	33
Q3FY25	other	nan	Number two, our own drive to make portfolio more premium, that should continue building further mix possibility within our own performance going forward.	33
Q3FY25	other	nan	Going forward, they will not be present.	33
Q3FY25	other	nan	So, we do believe that our overall trend of premium growing ahead of rest of the business and our own play of driving more premium going forward, that should he	33
Q3FY25	other	nan	So hence, I would say this is more of a conversation which has got accentuated given the development of small pack in the current quarter, but we don't see conc	33
Q3FY25	other	nan	So, the way we see going forward, we will end up bringing synergies on both sides to the table to make the brand bigger, to make the business model more stronge	34

Claims reconciled to filings

Quarter	Metric	Claimed	Kind	Anchor	Anchor value	Verdict	Source
Q2FY23	revenue growth	16 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20221031_Hindustan Unilev p3
Q2FY23	operating margin	23.3 %	ratio	EBITDA / total income	0.24	AGREES	Date_20221031_Hindustan Unilev p3
Q2FY23	revenue growth	4 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20221031_Hindustan Unilev p12
Q1FY24	operating margin	23.6 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20230726_Hindustan Unilev p5
Q1FY24	revenue growth	10 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230726_Hindustan Unilev p8
Q2FY24	operating margin	24.6 %	ratio	EBITDA / total income	0.25	CLOSE_WITHIN_10PCT	Date_20231026_Hindustan Unilev p4
Q2FY24	operating margin	24.6 %	ratio	EBITDA / total income	0.25	CLOSE_WITHIN_10PCT	Date_20231026_Hindustan Unilev p9
Q2FY24	profit after tax	2717 crores	money	PROFIT_AFTER_TAX	26,569,990,000.00	CLOSE_WITHIN_10PCT	Date_20231026_Hindustan Unilev p9
Q2FY24	revenue	30,000 crore	money	REVENUE_FROM_OPERATIONS	156,230,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20231026_Hindustan Unilev p15
Q2FY24	operating margin	24.1 %	ratio	EBIT / core revenue	0.24	CLOSE_WITHIN_10PCT	Date_20231026_Hindustan Unilev p15
Q2FY24	revenue growth	5 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20231026_Hindustan Unilev p15
Q3FY24	operating margin	23.7 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20240125_Hindustan Unilev p5
Q3FY24	operating margin	23.7 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20240125_Hindustan Unilev p7
Q3FY24	revenue	44,886 crores	money	REVENUE_FROM_OPERATIONS	155,670,000,000.00	DIVERGES	Date_20240125_Hindustan Unilev p12
Q4FY24	profit after tax	10,000 crores	money	PROFIT_AFTER_TAX	25,610,000,000.00	DIVERGES	Date_20240430_Hindustan Unilev p4
Q4FY24	operating margin	23.4 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20240430_Hindustan Unilev p11
Q4FY24	operating margin	23.8 %	ratio	EBITDA / total income	0.24	CLOSE_WITHIN_10PCT	Date_20240430_Hindustan Unilev p17
Q2FY25	revenue	15,319 crores	money	REVENUE_FROM_OPERATIONS	159,260,000,000.00	CLOSE_WITHIN_10PCT	Date_20241029_Hindustan Unilev p4
Q2FY25	revenue growth	2 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20241029_Hindustan Unilev p4
Q2FY25	operating margin	23.8 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20241029_Hindustan Unilev p4
Q2FY25	operating margin	23.8 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20241029_Hindustan Unilev p10
Q2FY25	operating margin	23.8 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20241029_Hindustan Unilev p13
Q3FY25	revenue	15,195 crores	money	REVENUE_FROM_OPERATIONS	158,180,000,000.00	CLOSE_WITHIN_10PCT	Date_20250129_Hindustan Unilev p4
Q3FY25	revenue growth	2 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250129_Hindustan Unilev p4
Q3FY25	profit after tax	2,540 crores	money	PROFIT_AFTER_TAX	29,890,000,000.00	DIVERGES	Date_20250129_Hindustan Unilev p4
Q3FY25	operating margin	23 %	ratio	EBIT / core revenue	0.23	AGREES	Date_20250129_Hindustan Unilev p9
Q3FY25	profit after tax	3,001 crores	money	PROFIT_AFTER_TAX	29,890,000,000.00	AGREES	Date_20250129_Hindustan Unilev p9
Q3FY25	revenue growth	4 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250129_Hindustan Unilev p11
Q3FY25	revenue	500 crores	money	REVENUE_FROM_OPERATIONS	158,180,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20250129_Hindustan Unilev p13
Q3FY25	profit after tax	7,723 crores	money	PROFIT_AFTER_TAX	29,890,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20250129_Hindustan Unilev p16
Q4FY25	revenue growth	1 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250430_Hindustan Unilev p12
Q1FY26	operating margin	22.8 %	ratio	EBITDA / total income	0.23	CLOSE_WITHIN_10PCT	Date_20250807_Hindustan Unilev p5
Q1FY26	operating margin	22.6 %	ratio	EBITDA / total income	0.23	CLOSE_WITHIN_10PCT	Date_20250807_Hindustan Unilev p5
Q1FY26	operating margin	22.8 %	ratio	EBITDA / total income	0.23	CLOSE_WITHIN_10PCT	Date_20250807_Hindustan Unilev p11
Q2FY26	operating margin	23.2 %	ratio	EBITDA / total income	0.24	AGREES	Date_20251029_Hindustan Unilev p8
Q2FY26	operating margin	23 %	ratio	EBITDA / total income	0.24	CLOSE_WITHIN_10PCT	Date_20251029_Hindustan Unilev p11
Q3FY26	operating margin	23.3 %	ratio	EBITDA / total income	0.24	AGREES	Date_20260219_Hindustan Unilev p4
Q3FY26	revenue growth	6 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20260219_Hindustan Unilev p8
Q3FY26	operating margin	23.3 %	ratio	EBITDA / total income	0.24	AGREES	Date_20260219_Hindustan Unilev p9
Q3FY26	revenue growth	6 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20260219_Hindustan Unilev p30
Q4FY26	operating margin	23.7 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20260507_Hindustan Unilev p4
Q4FY26	operating margin	23.7 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20260507_Hindustan Unilev p9
Q4FY26	operating margin	23.6 %	ratio	EBIT / core revenue	0.23	CLOSE_WITHIN_10PCT	Date_20260507_Hindustan Unilev p12
Q1FY27	revenue	17,184 crores	money	REVENUE_FROM_OPERATIONS	173,410,000,000.00	AGREES	Date_20260804_Hindustan Unilev p4
Q1FY27	revenue growth	10 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20260804_Hindustan Unilev p6
Q1FY27	operating margin	23 %	ratio	EBITDA / total income	0.24	CLOSE_WITHIN_10PCT	Date_20260804_Hindustan Unilev p6
Q1FY27	profit after tax	2,680 crores	money	PROFIT_AFTER_TAX	26,800,000,000.00	AGREES	Date_20260804_Hindustan Unilev p7
nan	revenue growth	18 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	0f4749dd-e93c-4df9-b42b-ed6f01 p9
nan	operating margin	23.6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	0f4749dd-e93c-4df9-b42b-ed6f01 p24
nan	revenue growth	5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	0f4749dd-e93c-4df9-b42b-ed6f01 p24
nan	operating margin	23.6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	0f4749dd-e93c-4df9-b42b-ed6f01 p24
nan	profit after tax	2,472 crores	money	nan	nan	NO_QUARTER_IN_FILENAME	0f4749dd-e93c-4df9-b42b-ed6f01 p24
nan	revenue growth	4 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	0fe00502-0dbc-4264-9b65-797d4c p16
nan	revenue growth	6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	0fe00502-0dbc-4264-9b65-797d4c p19
nan	revenue	17,184 crores	money	nan	nan	NO_QUARTER_IN_FILENAME	163e0f27-042e-41a9-9db7-14f5d0 p2
nan	revenue growth	10 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	163e0f27-042e-41a9-9db7-14f5d0 p2
nan	revenue growth	5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	163e0f27-042e-41a9-9db7-14f5d0 p7
nan	revenue growth	19 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	43fa2d31-cdfa-4eac-a4ad-c61ffb p5
nan	revenue growth	6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	43fa2d31-cdfa-4eac-a4ad-c61ffb p11
nan	revenue growth	18 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	43fa2d31-cdfa-4eac-a4ad-c61ffb p13
nan	revenue growth	19 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	43fa2d31-cdfa-4eac-a4ad-c61ffb p23
nan	operating margin	23.2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	43fa2d31-cdfa-4eac-a4ad-c61ffb p23
nan	revenue growth	15,166 cr	money	nan	nan	NO_QUARTER_IN_FILENAME	4d7d13c4-c0bb-46d4-8fb8-c64211 p6
nan	revenue growth	4 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	4d7d13c4-c0bb-46d4-8fb8-c64211 p6
nan	operating margin	23.8 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	4d7d13c4-c0bb-46d4-8fb8-c64211 p25
nan	operating margin	23.8 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	4d7d13c4-c0bb-46d4-8fb8-c64211 p25
nan	operating margin	22.8 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	4df29a3d-78e4-47ca-a31b-b70935 p27
nan	revenue growth	5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	4df29a3d-78e4-47ca-a31b-b70935 p27
nan	revenue growth	12 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	52513c8f-fcd2-4b4f-9013-0ea0fa p29
nan	revenue growth	16 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	552c5320-45fe-4eaf-b4ff-66f5fb p5
nan	revenue growth	5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	552c5320-45fe-4eaf-b4ff-66f5fb p13
nan	revenue growth	19 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	552c5320-45fe-4eaf-b4ff-66f5fb p15
nan	revenue growth	17 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	552c5320-45fe-4eaf-b4ff-66f5fb p23
nan	operating margin	23.6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	552c5320-45fe-4eaf-b4ff-66f5fb p34
nan	revenue growth	16 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	552c5320-45fe-4eaf-b4ff-66f5fb p34
nan	revenue growth	20 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	594911cb-e856-4993-a3be-d2b790 p21
nan	revenue growth	1 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	594911cb-e856-4993-a3be-d2b790 p28
nan	revenue growth	25 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	5fc500d4-b9f9-4e96-812f-49e726 p5
nan	revenue growth	25 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	6c924a14-ed38-4d6c-a499-bcb8a2 p12
nan	revenue growth	4 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	6e6dea43-db7a-4075-82c6-71024e p6
nan	profit after tax	6,603 crores	money	nan	nan	NO_QUARTER_IN_FILENAME	6e6dea43-db7a-4075-82c6-71024e p6
nan	revenue growth	6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	6e6dea43-db7a-4075-82c6-71024e p22
nan	operating margin	23.3 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	6e6dea43-db7a-4075-82c6-71024e p22
nan	revenue growth	4 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	6e6dea43-db7a-4075-82c6-71024e p22
nan	revenue growth	6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	6e6dea43-db7a-4075-82c6-71024e p22
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	76d3382e-27e5-42d2-8ae6-03bce8 p6
nan	revenue growth	38 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	76d3382e-27e5-42d2-8ae6-03bce8 p28
nan	revenue growth	36 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	76d3382e-27e5-42d2-8ae6-03bce8 p40
nan	revenue growth	13 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	8aeb56ec-cd4d-4786-b37f-bae829 p17
nan	revenue growth	15 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	8aeb56ec-cd4d-4786-b37f-bae829 p21
nan	revenue growth	3 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	8be73094-4197-453b-9664-71af84 p6
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	8be73094-4197-453b-9664-71af84 p20
nan	operating margin	23.8 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	8be73094-4197-453b-9664-71af84 p24
nan	revenue growth	5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	8be73094-4197-453b-9664-71af84 p24
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	8be73094-4197-453b-9664-71af84 p24
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	935a2031-ae72-4611-92f3-227ee7 p6
nan	operating margin	23.1 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	935a2031-ae72-4611-92f3-227ee7 p30
nan	revenue growth	3 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	935a2031-ae72-4611-92f3-227ee7 p30
nan	revenue growth	1 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	935a2031-ae72-4611-92f3-227ee7 p30
nan	operating margin	23.5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	935a2031-ae72-4611-92f3-227ee7 p30
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	935a2031-ae72-4611-92f3-227ee7 p30
nan	revenue growth	16 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	961de67c-677f-4bae-918a-808839 p15
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	961de67c-677f-4bae-918a-808839 p22
nan	revenue growth	50.0 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	9d005c7b-caf7-48b9-bbe6-8bdecc p7
nan	operating margin	23.5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	9d005c7b-caf7-48b9-bbe6-8bdecc p37
nan	revenue growth	4 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	a3971977-8bf4-4041-b5a6-f28d48 p19
nan	revenue growth	19 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	a3971977-8bf4-4041-b5a6-f28d48 p21
nan	revenue growth	16 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	a3971977-8bf4-4041-b5a6-f28d48 p29
nan	revenue growth	18 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	a3971977-8bf4-4041-b5a6-f28d48 p33
nan	operating margin	23.2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	b38b0312-d563-42a1-96e7-d61213 p21
nan	operating margin	23.2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	b38b0312-d563-42a1-96e7-d61213 p21
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	b38b0312-d563-42a1-96e7-d61213 p21
nan	revenue growth	16 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bafbe090-ae6a-4174-a1e6-85350a p5
nan	revenue growth	4 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bafbe090-ae6a-4174-a1e6-85350a p12
nan	revenue growth	17 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bafbe090-ae6a-4174-a1e6-85350a p14
nan	revenue growth	18 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bafbe090-ae6a-4174-a1e6-85350a p22
nan	operating margin	23.3 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bafbe090-ae6a-4174-a1e6-85350a p27
nan	revenue growth	16 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bafbe090-ae6a-4174-a1e6-85350a p27
nan	revenue growth	18 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bafbe090-ae6a-4174-a1e6-85350a p27
nan	revenue growth	10 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bf5fba81-9ac1-4a30-a027-450d52 p17
nan	operating margin	23.7 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bff5375d-b069-467c-81e4-17f54b p31
nan	revenue growth	1 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bff5375d-b069-467c-81e4-17f54b p31
nan	operating margin	23.7 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	bff5375d-b069-467c-81e4-17f54b p31
nan	revenue growth	34 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	c6258551-1ce0-46f3-beed-36004e p18
nan	revenue growth	18 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	c6258551-1ce0-46f3-beed-36004e p30
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	c676b5d7-0588-4a1b-ae49-b4818e p20
nan	revenue growth	11 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d1ea65be-99e7-49d2-97ae-951112 p5
nan	revenue growth	20 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d1ea65be-99e7-49d2-97ae-951112 p23
nan	revenue growth	11 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d1ea65be-99e7-49d2-97ae-951112 p30
nan	revenue growth	19 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d1ea65be-99e7-49d2-97ae-951112 p31
nan	operating margin	24.8 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d1ea65be-99e7-49d2-97ae-951112 p33
nan	revenue growth	25 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d5ee5a5b-9836-47dd-99a0-65c481 p16
nan	revenue growth	2 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d6e2c978-5e90-4739-8652-793f64 p16
nan	revenue growth	5 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d6e2c978-5e90-4739-8652-793f64 p29
nan	operating margin	24.6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d6e2c978-5e90-4739-8652-793f64 p34
nan	operating margin	24.6 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	d6e2c978-5e90-4739-8652-793f64 p34
nan	profit after tax	2,717 crores	money	nan	nan	NO_QUARTER_IN_FILENAME	d6e2c978-5e90-4739-8652-793f64 p34
nan	revenue growth	9 %	ratio	nan	nan	NO_QUARTER_IN_FILENAME	f2f42ee7-0765-4ff4-8e3e-b779d1 p17

HINDUNILVR

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity


Statement division	general
Scope served	consolidated
Panels on this page	4

Market

No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.


Last close	1,933.50
52-week range	1927.0 – 2603.7
Return 1M	-4.48%
Return 3M	-11.07%
Return 1Y	-24.16%
Return 3Y	-21.91%
Return 5Y	-29.61%
Market capitalisation	not shown — we could not confirm it
Shares outstanding	not shown — we could not confirm it
P/E	not shown — we could not confirm it
P/B	not shown — we could not confirm it
EV/EBITDA	not shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.


Revenue from operations	17,341.00
Other income	188.00
Total income	17,529.00
Cost of materials consumed	5,429.00
Purchases of stock-in-trade	3,321.00
Changes in inventories	3.00
Employee benefit expense	769.00
Finance costs	75.00

Ownership — 2026-06-30, and the change from 2026-03-31

Holder	Per cent	Change
promoter and promoter group	0.62	0.00
institutions foreign	0.10	-0.01
institutions domestic	0.17	0.01
mutual funds	0.07	0.01
public	0.38	0.00

Documents on file

Class	Most recent	On file
COVER_LETTER	2024-06-30	5
TRANSCRIPT	2026-06-30	13

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line	2022-09-30	2022-12-31	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Revenue from operations	15,144.00	15,597.00	15,215.00	15,496.00	15,623.00	15,567.00	15,210.00	15,707.00	15,926.00	15,818.00	15,670.00	16,514.00	16,241.00	16,441.00	16,351.00	17,341.00
Other income	109.00	110.00	160.00	183.00	183.00	214.00	231.00	257.00	219.00	232.00	309.00	201.00	147.00	139.00	264.00	188.00
Total income	15,253.00	15,707.00	15,375.00	15,679.00	15,806.00	15,781.00	15,441.00	15,964.00	16,145.00	16,050.00	15,979.00	16,715.00	16,388.00	16,580.00	16,615.00	17,529.00
Cost of materials consumed	5,436.00	5,000.00	4,908.00	4,820.00	4,799.00	5,027.00	4,611.00	4,874.00	5,005.00	4,749.00	4,830.00	5,467.00	5,746.00	4,874.00	5,205.00	5,429.00
Purchases of stock-in-trade	3,100.00	2,742.00	2,797.00	2,643.00	2,636.00	2,667.00	2,568.00	2,728.00	2,914.00	2,829.00	2,802.00	2,915.00	2,353.00	3,017.00	3,101.00	3,321.00
Changes in inventories	-339.00	366.00	42.00	216.00	-90.00	-215.00	78.00	-57.00	-210.00	123.00	-9.00	-141.00	-206.00	100.00	-175.00	3.00
Employee benefit expense	758.00	722.00	738.00	705.00	766.00	706.00	832.00	656.00	822.00	743.00	856.00	726.00	750.00	914.00	847.00	769.00
Finance costs	28.00	29.00	29.00	50.00	88.00	91.00	105.00	93.00	110.00	112.00	80.00	127.00	129.00	88.00	76.00	75.00
Depreciation and amortisation	272.00	293.00	291.00	286.00	297.00	313.00	320.00	329.00	338.00	341.00	347.00	361.00	358.00	337.00	348.00	353.00
Other expenses	2,710.00	3,073.00	3,156.00	3,447.00	3,715.00	3,716.00	3,586.00	3,762.00	3,602.00	3,679.00	3,572.00	3,829.00	3,869.00	3,748.00	3,532.00	3,872.00
Total expenses	11,965.00	12,225.00	11,961.00	12,167.00	12,211.00	12,305.00	12,100.00	12,385.00	12,581.00	12,576.00	12,478.00	13,284.00	12,999.00	13,078.00	12,934.00	13,822.00
Profit before exceptional items and tax	3,288.00	3,482.00	3,414.00	3,512.00	3,595.00	3,476.00	3,341.00	3,579.00	3,564.00	3,474.00	3,501.00	3,431.00	3,389.00	3,502.00	3,681.00	3,707.00
Exceptional items	-29.00	-103.00	80.00	-37.00	-5.00	-30.00	78.00	-48.00	-16.00	507.00	-138.00	-127.00	184.00	-576.00	247.00	-75.00
Profit before tax	3,259.00	3,379.00	3,494.00	3,475.00	3,590.00	3,446.00	3,419.00	3,531.00	3,548.00	3,981.00	3,363.00	3,304.00	3,573.00	2,926.00	3,928.00	3,632.00
Current tax	530.00	852.00	832.00	864.00	889.00	898.00	870.00	853.00	940.00	978.00	849.00	494.00	884.00	875.00	885.00	939.00
Deferred tax	59.00	46.00	59.00	54.00	42.00	39.00	-12.00	64.00	7.00	15.00	38.00	41.00	-8.00	-74.00	37.00	13.00
Tax expense	589.00	898.00	891.00	918.00	931.00	937.00	858.00	917.00	947.00	993.00	887.00	535.00	876.00	801.00	922.00	952.00
Profit for the period	2,670.00	2,481.00	2,601.00	2,556.00	2,657.00	2,508.00	2,561.00	2,612.00	2,595.00	2,989.00	2,475.00	2,768.00	2,694.00	6,603.00	2,994.00	2,680.00
Profit attributable to owners	2,665.00	2,474.00	2,600.00	2,554.00	2,656.00	2,509.00	2,558.00	2,610.00	2,591.00	2,984.00	2,464.00	2,756.00	2,685.00	6,607.00	2,992.00	2,673.00
Profit attributable to non-controlling interests	5.00	7.00	1.00	2.00	1.00	-1.00	3.00	2.00	4.00	5.00	11.00	12.00	9.00	-4.00	2.00	7.00
Other comprehensive income	-53.00	31.00	-39.00	12.00	5.00	-7.00	15.00	-2.00	-4.00	9.00	-22.00	-22.00	4.00	-15.00	235.00	88.00
Total comprehensive income	2,617.00	2,512.00	2,562.00	2,568.00	2,662.00	2,501.00	2,576.00	2,610.00	2,591.00	2,998.00	2,453.00	2,746.00	2,698.00	6,588.00	3,229.00	2,768.00
Earnings per share, basic	11.35	10.53	11.06	10.87	11.30	10.68	10.89	11.11	11.03	12.70	10.48	11.73	11.43	28.12	12.73	11.38
Earnings per share, diluted	11.35	10.53	11.06	10.87	11.30	10.68	10.89	11.11	11.03	12.70	10.48	11.73	11.43	28.12	12.72	11.38

Annual results, as filed

Line	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Revenue from operations	39,783.00	47,028.00	52,446.00	60,580.00	61,896.00	63,121.00	64,468.00
Other income	632.00	410.00	258.00	512.00	811.00	1,017.00	751.00
Total income	40,415.00	47,438.00	52,704.00	61,092.00	62,707.00	64,138.00	65,219.00
Cost of materials consumed	11,976.00	15,432.00	16,446.00	20,212.00	19,257.00	19,458.00	20,981.00
Purchases of stock-in-trade	6,391.00	7,121.00	9,311.00	11,579.00	10,514.00	11,273.00	11,113.00
Changes in inventories	-108.00	-405.00	-22.00	-75.00	-11.00	-153.00	-429.00
Employee benefit expense	1,820.00	2,358.00	2,545.00	2,854.00	3,009.00	3,077.00	3,175.00
Finance costs	118.00	117.00	106.00	114.00	334.00	395.00	410.00
Depreciation and amortisation	1,002.00	1,074.00	1,091.00	1,137.00	1,216.00	1,355.00	1,333.00
Other expenses	9,843.00	10,896.00	11,309.00	11,861.00	14,464.00	14,615.00	14,574.00
Total expenses	31,042.00	36,593.00	40,786.00	47,682.00	48,783.00	50,020.00	51,157.00
Profit before exceptional items and tax	9,373.00	10,845.00	11,918.00	13,410.00	13,924.00	14,118.00	14,062.00
Exceptional items	-200.00	-239.00	-44.00	-64.00	6.00	305.00	-235.00
Profit before tax	9,173.00	10,606.00	11,874.00	13,346.00	13,930.00	14,423.00	13,827.00
Current tax	2,243.00	2,520.00	2,840.00	3,001.00	3,521.00	3,620.00	3,163.00
Deferred tax	166.00	86.00	147.00	200.00	123.00	124.00	-3.00
Tax expense	2,409.00	2,606.00	2,987.00	3,201.00	3,644.00	3,744.00	3,160.00
Profit for the period	6,756.00	7,999.00	8,892.00	10,143.00	10,282.00	10,671.00	15,059.00
Profit attributable to owners	6,748.00	7,995.00	8,879.00	10,120.00	10,277.00	10,649.00	15,040.00
Profit attributable to non-controlling interests	8.00	4.00	13.00	23.00	5.00	22.00	19.00
Other comprehensive income	-89.00	21.00	115.00	-26.00	25.00	-19.00	202.00
Total comprehensive income	6,667.00	8,020.00	9,007.00	10,117.00	10,307.00	10,652.00	15,261.00
Earnings per share, basic	31.17	34.03	37.79	43.07	43.74	45.32	64.01
Earnings per share, diluted	31.17	34.03	37.79	43.07	43.74	45.32	64.00

Balance sheet, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Total assets	71,936.00	73,087.00	77,843.00	78,499.00	80,765.00	79,880.00	82,034.00	79,752.00
Non-current assets	55,170.00	56,089.00	56,438.00	57,175.00	57,225.00	57,829.00	61,937.00	60,731.00
Current assets	16,745.00	16,986.00	21,393.00	21,312.00	23,473.00	22,028.00	20,076.00	19,007.00
Property, plant and equipment	6,616.00	6,949.00	7,322.00	8,031.00	8,320.00	8,625.00	8,881.00	8,182.00
Capital work-in-progress	1,129.00	1,132.00	1,047.00	1,025.00	1,022.00	1,009.00	1,022.00	880.00
Goodwill	17,397.00	17,466.00	17,466.00	17,466.00	17,466.00	17,466.00	18,098.00	18,062.00
Other intangible assets	27,896.00	28,263.00	28,252.00	28,247.00	28,241.00	28,244.00	31,147.00	31,184.00
Inventories	4,436.00	4,251.00	3,581.00	4,022.00	4,243.00	4,415.00	4,488.00	4,789.00
Trade receivables	2,620.00	3,079.00	3,207.00	2,997.00	3,678.00	3,819.00	4,440.00	3,379.00
Cash and cash equivalents	2,598.00	714.00	1,651.00	825.00	5,313.00	6,071.00	2,341.00	2,583.00
Total equity and liabilities	71,936.00	73,087.00	77,843.00	78,499.00	80,765.00	79,880.00	82,034.00	79,752.00
Equity	49,640.00	50,522.00	50,585.00	51,423.00	50,987.00	49,609.00	49,162.00	49,008.00
Equity share capital	235.00	235.00	235.00	235.00	235.00	235.00	235.00	235.00
Other equity	49,364.00	50,069.00	50,129.00	50,983.00	50,541.00	49,167.00	48,481.00	48,504.00
Total liabilities	22,296.00	22,565.00	27,258.00	27,076.00	29,778.00	30,271.00	32,872.00	30,744.00
Non-current liabilities	9,868.00	10,537.00	13,564.00	14,200.00	15,455.00	13,734.00	14,444.00	15,195.00
Current liabilities	12,428.00	12,028.00	13,694.00	12,876.00	14,321.00	16,537.00	18,428.00	15,549.00
Borrowings, non-current	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Borrowings, current	105.00	98.00	96.00	13.00	13.00	1.00	14.00	0.00
Trade payables	9,918.00	9,574.00	10,634.00	10,486.00	11,450.00	11,315.00	12,181.00	13,325.00

Cash flow, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Net cash from operating activities	5,100.00	9,991.00	10,425.00	15,469.00	6,657.00	11,886.00	6,267.00	10,999.00
Net cash from investing activities	1,005.00	-1,494.00	-4,063.00	-5,324.00	3,774.00	6,473.00	-4,018.00	-3,684.00
Net cash from financing activities	-4,654.00	-8,953.00	-5,426.00	-10,034.00	-5,943.00	-13,101.00	-5,992.00	-10,810.00
Purchase of property, plant and equipment	521.00	1,174.00	642.00	1,468.00	520.00	1,254.00	617.00	1,258.00
Net increase in cash	1,451.00	-456.00	936.00	111.00	4,488.00	5,258.00	-3,743.00	-3,495.00
con:CFO.BEFORE_TAX	6,387.00	13,131.00	8,960.00	15,962.00	7,054.00	14,154.00	7,105.00	15,839.00
con:INTEREST_RECEIVED.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INTEREST_PAID.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:DIVIDENDS_RECEIVED.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:TAX_PAID.OPERATING	1,287.00	3,138.00	-1,465.00	381.00	397.00	2,268.00	838.00	4,840.00
con:CF_OTHER.OPERATING	-0.00	-2.00	0.00	-112.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_PURCHASED	0.00	0.00	0.00	0.00	0.00	0.00	100.00	0.00
con:INVESTMENTS_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:PPE_DISPOSALS	40.00	121.00	0.00	20.00	7.00	13.00	10.00	29.00
con:CF_INVESTING.SUBSIDIARIES_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED	0.00	334.00	0.00	0.00	0.00	0.00	2,661.00	2,661.00
con:CF_INVESTING.JV_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	298.00
con:CF_INVESTING.JV_ACQUIRED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Promoter and promoter group	61.90	61.90	61.90	61.90	61.90	61.90	61.90	61.90	61.90	61.90	0.62	0.62	0.62	0.62
Domestic institutions	11.58	11.55	11.97	12.38	13.27	14.16	14.18	14.73	15.54	16.07	0.16	0.16	0.16	0.17
Mutual funds	—	—	—	—	—	—	—	—	—	6.57	0.06	0.06	0.07	0.07
Insurance companies	6.47	6.11	6.20	6.65	7.32	7.65	7.65	7.84	8.21	8.53	0.08	0.09	0.09	0.09
Foreign institutions	14.36	14.48	13.90	13.65	12.67	11.87	12.18	11.43	10.62	10.18	0.11	0.11	0.10	0.10
Government	—	—	—	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
Public	38.10	38.10	38.10	38.10	38.10	38.10	38.10	38.10	38.10	38.10	0.38	0.38	0.38	0.38
Non-institutional	12.16	12.07	12.23	12.07	12.15	12.07	11.74	11.93	11.93	11.85	0.12	0.12	0.12	0.12
Shares outstanding	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262	2349591262

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

Counterparty	Relationship	Type	Amount in the period	Transactions
UNILEVER PLC	Parent	Dividend paid	26,744,900,000.00	1
PT Unilever Oleochemical Indonesia	Fellow Subsidiary	Purchase of goods or services	8,792,800,000.00	1
Unilever India Exports Limited	Subsidiaries	Any other transaction, Dividend received, Inter-corp	7,710,600,000.00	8
Unilever India Limited	Subsidiaries	Any other transaction, Dividend received, Purchase o	6,921,300,000.00	5
Unilever Europe Business Centre	Fellow Subsidiary	Any other transaction	6,445,100,000.00	6
Unilever Global IP Ltd	Fellow Subsidiary	Any other transaction	4,700,600,000.00	6
Unilever PLC	Parent	Any other transaction	4,425,900,000.00	2
Unilever Asia Private Limited	Fellow Subsidiary	Any other transaction, Sale of goods or services	3,221,900,000.00	4
UNILEVER GROUP LIMITED	Parent	Dividend paid	2,561,700,000.00	1
UNILEVER OVERSEAS HOLDINGS AG	Parent	Dividend paid	1,650,800,000.00	1
Lakme Lever Private Limited	Subsidiaries	Any other transaction, Inter-corporate deposit, Inte	1,446,000,000.00	11
UNILEVER UK&CN HOLDINGS LIMITED	Parent	Dividend paid	1,442,100,000.00	1
UNILEVER SOUTH INDIA ESTATES LIMITED	Parent	Dividend paid	1,265,900,000.00	1
Unilever IP Holdings B.V	Fellow Subsidiary	Any other transaction	1,255,800,000.00	6
UNILEVER ASSAM ESTATES LIMITED	Parent	Dividend paid	787,700,000.00	1

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

Date	Quarter
2026-08-04	Q1FY27	Read the call
2026-05-07	Q4FY26	Read the call
2026-02-19	Q3FY26	Read the call
2025-10-29	Q2FY26	Read the call
2025-08-07	Q1FY26	Read the call
2025-04-30	Q4FY25	Read the call
2025-01-29	Q3FY25	Read the call
2024-10-29	Q2FY25	Read the call
2024-04-30	Q4FY24	Read the call
2024-01-25	Q3FY24	Read the call
2023-10-26	Q2FY24	Read the call
2023-07-26	Q1FY24	Read the call
2022-10-31	Q2FY23	Read the call

Some earlier announcements under this heading are covering letters only — no transcript was attached.

What they said about it, quarter by quarter

Topic	Q2FY25	Q2FY26	Q3FY24	Q3FY25	Q3FY26	Q4FY24	Q4FY25	Q4FY26
Capex	—	—	—	—	—	But over the last few years, government has been very focused on capex buildup, investment side of things.	—	2,000 crores of capex investments in premium formats of Beauty and Home Care.
Capital allocation	In lieu of this, I'm very pleased to announce that the Board has approved an interim dividend of INR19 per share, along with a special dividend of INR…	September Quarter 2025 Earnings call of Hindustan Unilever Limited Considering our performance in the first half of the year, the Board of Directors h…	—	Ritesh will then present our results in greater details, share more information on our recently announced acquisition and round it up with our near-te…	This reflects the impact of lower net other income due to softer interest rates combined with lower investable surplus post recent acquisitions and pa…	Considering our performance in the year, the board of directors have proposed a final dividend of ₹24 per share.	ltlluh Tlwart: Oliva, If you could clarify, how Is the growth from the time of acquisition tlU now, how have the things shaped up In Oliva?	The reported March Quarter & Financial Year 2026 Earnings call of Hindustan Unilever Limited profit includes the combined impact of proceeds from dive…
Costs	See, generally, when there is a tea cost inflation, and this time, it was quite steep like close to 20%, 25% kind of Y-o-Y inflation.	You alluded to the economical impact of the monetary easing, which will help mortgage, interest cost, the direct tax benefit, GST benefit across multi…	And to your other question, which is dairy, so dairy, SMP has seen and hence, our input cost has seen benefit coming in.	NMI turned positive last quarter, signifying net cost inflation for the business.	The input cost landscape has, however, remained volatile; depreciating rupee increased cost pressure on imported materials, while commodity trends rem…	—	So you always end up having a deficit of price versus cost in inflationary categories for inflationary commodities.	This, combined with continued currency depreciation, increased the input costs.
Debt and cash	We have a strong track record of consistently delivering competitive and profitable growth, investing behind our brands and long-term strategic capabi…	—	—	—	—	—	We are negative wortclng capital And the way I see It tcday across all the different lines of the working capital leverage, we will remain negative wo…	Our cash flow from operations stood close to Rs.
Demand	Building on our strong innovation pipeline, we've had multiple innovations in these high- growth spaces during the quarter.	September Quarter 2025 Earnings call of Hindustan Unilever Limited At a MAT level, demand growth trends as per Nielsen remained stable with both rural…	These factors have played out in shaping the FMCG market demand as well.	At the MAT level, total FMCG volume growth has slowed down over the last 6 months, indicating subdued demand.	As we look at the operating environment for the quarter, we are seeing a steady improvement in underlying demand.	Volume recovery remained gradual due to high levels of cumulative inflation over the past few years, coupled with a weak monsoon affecting rural deman…	A. there are Improving macroeconomic conditions, which will augur well for demand conditions.And B. the amount of portfolio tra.nsfonnatlon that we ar…	During the period, demand conditions remained stable across the market.
Guidance	We expect this to take around 30 minutes, leaving us with an hour for the Q&A session.	We expect this to take around 30 minutes, leaving us approximately an hour for the Q&A session.	We expect this to take around 25 minutes, leaving us with an hour for the Q&A session.	We expect this to take around 35 minutes, leaving us with approximately an hour for the Q&A.	We will start with prepared remarks from Priya and Niranjan, we expect this to take around 20 minutes, leaving us with approximately an hour for the Q…	We expect this to take around 30 minutes, which will leave us with an hour for the Q&A session.	See, I just wanted to understand this EBl1DA margin guidance a little better.	We expect this to take around 20 minutes, leaving us approximately an hour for the Q&A.
Margin	Our EBITDA margin continued to remain healthy at 23.8%.	EBITDA at 23.2% was down 90 basis points year on year, in line with our stated intent to continue investing in the business.	EBITDA margin at 23.7% improved 10 bps year-on-year.	For the quarter, our gross margin was 50%, while EBITDA at 23.5% was within our range of 23% to 24%.	3,788 crores was up 3% year-on- year, while EBITDA margin at 23.3% was within the range that we have previously guided to.	EBITDA margin was up 40 bps year-on- year.	Thanks, Avi. so, the entire EBITDA change that we intend to do, which is basically moving from the lower end of the 23,r. - 24'6 range, which we had m…	How do you get that margin confidence also, and if the priority is volume growth, do you not think you may have to take some chance with the margins?
People	—	—	—	—	—	In fact, we watch both attrition and the ROI of our distributors programmatically.	—	—
Pricing	Given our assessment, that this price increase is here to stay, we are now taking calibrated price increases.	In response to the rate change, we acted with agility, implementing pricing and grammage interventions across more than 1,200 SKUs.	However, viewed over a 3- year period, we see relatively high levels of pricing reflecting in the broad base of unprecedented levels of commodity cost…	I'll start with an update on the operating context and commodity pricing, followed by an overview of our performance and key highlights of the quarter…	Given the evolving geopolitical dynamics, we will continue to closely monitor currency and commodity movements and take calibrated price increases whe…	Foods and Refreshment, on the other hand, had positive pricing and delivered mid-single-digit USG with flat volumes.	Remember, the pricing logic that we always follow - Whenever we see Inflation, In this case, read Inflation of Tea, Coffee and CPO, which Is Crude pal…	This is deeply embedded in every decision that we take, whether it is product, proposition, pricing, or the channel we use to reach and persuade our c…
Revenue growth	In this context, we've delivered a competitive performance with a turnover of INR15,319 crores, our reported underlying sales growth was 2%, driven by…	The growth was price led, driven primarily by carry forward pricing in Skin Cleansing, Beverages and Skin Care.	Similarly, volume growth of premium products significantly ahead of mass products in the market.	In this backdrop, HUL delivered a turnover of INR15,195 crores with an underlying sales growth of 2%, led by pricing.	In this backdrop, we delivered an Underlying Sales Growth of 5% driven by an Underlying Volume Growth of 4%.	Given this context, we delivered a resilient performance for the year with an underlying sales growth of 3% and an underlying volume growth of 2%.	The cost gets Page1fiof40 March Quarter and Financial Year 2025 Earnings call of Hindustan Unilever Limited llohltJawa: channeled through trade spends…	Against this operating backdrop, we delivered an 8% Consolidated Revenue Growth.