Hindustan Unilever Ltd. has reported financials for the fiscal second quarter that show the initial impact of GST 2.0 on its supply chains.
Consolidated net profit of India’s largest FMCG maker rose 3.81% year-on-year to ₹2,694 crore in the three months ended 30 September 2025, on the back of revenue that increased 2.11% year-on-year to ₹16,061 crore, according to an exchange filing on Thursday (23 October 2025).
Analysts polled by Bloomberg had estimated the topline at ₹16,020 crore and the bottomline at ₹2,570 crore.
HUL Q2 Results 2025-26: Key Highlights (Cons, YoY)
- Revenue up 2.11% at ₹16,061 crore (Estimate: ₹16,020 crore)
- EBITDA down 1.32% at ₹3,549 crore (Estimate: ₹3,590 crore)
- EBITDA margin down 77 bps at 22.09% (Estimate: 22.4%)
- Net profit up 3.81% at ₹ ₹2,694 crore (Estimate: ₹2,570 crore)
One basis point (bps) is one-hundredth of a percentage point.
HUL had an exceptional gain of ₹184 crore in July-September, discounting which net profit 4% year-on-year to ₹2,482 crore.
Separately, the company has declared an interim dividend of ₹19/share.
HUL Outlook
According to the company, GST-related disruptions continue into October while normalcy is expected from November onwards.
If commodity prices remain where they are, then price growth will be in low single digits. The EBITDA margin is expected to remain at the current levels.
Overall, HUL expects H2 FY26 to be better than H1 FY26.
“The GST reforms are a positive step by the government to drive consumption but the quarter saw a transitory impact as the market adjusted to these changes,” HUL CEO Priya Nair said in a statement. “We anticipate normal trading conditions starting early November, once prices stabilise, paving the way for a gradual and sustained market recovery.”