Shares of Hindustan Unilever (HUL) rose as much as 3% to ₹1,864 on the BSE on Thursday after the consumer goods maker reported its results for July–September, The Economic Times reported.
Net profit for the second quarter of 2026-27 rose 4% to ₹2,790 crore, from ₹2,685 crore a year earlier. Revenue from operations grew 15% to ₹18,226 crore, from ₹15,919 crore.
HUL expects performance in 2026-27 to improve over the previous year, helped by changes to its portfolio and sales channels. It said commodity inflation is likely to persist in the near term and guided for its consolidated EBITDA margin to stay in the current range of 22% to 24%.
What the brokerages say
- **Jefferies** kept its buy rating but cut its target price to ₹2,350, implying 29% upside. It said measured price increases and cost savings will help protect margins.
- **Nomura** cut its target to ₹2,100 from ₹2,450, implying 16% upside. It noted that volumes grew 7% from a year earlier despite an 8% price increase, beating its 5% estimate. But it said that came against a flat base, and the two-year average of about 3.5% is the more sustainable pace.
- **JM Financial** cut its target by 4% to ₹2,225, implying 22.5% upside. It said high inflation could help HUL win share from smaller regional rivals.
Why it matters
HUL is India's largest consumer goods company, so its numbers are read as a gauge of household spending. Nomura warned that the sharp price rises, along with a weak monsoon and drought in several states, could hurt the rabi crop and rural demand next quarter. HUL said rural growth improved from the previous quarter.
The stock has fallen 14% over the past three months, and its valuation is below its ten-year average, according to JM Financial.
CEO and Managing Director Priya Nair said the Indian economy remains resilient, with healthy indicators supporting consumption.
This article reports results and brokerages' views and is not investment advice.