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Revenue
₹15,556 Cr
verified against source
Revenue YoY
2%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
HUL reported Q3 FY25 revenue of ₹15,195 crore (+2% YoY underlying sales growth) with flat volume growth, as urban demand moderated and rural recovery remained gradual. Gross margin contracted 70bps YoY to 50%, while EBITDA margin held at 23.5% within the guided 23-24% range. PAT grew 19% YoY to ₹3,001 crore, boosted by Pureit divestment gains. Home care led with 6% USG, while beauty & wellbeing grew only 1% due to delayed winter. Management flagged a transitory shift to small packs and negative mix, but noted premiumization trends remain intact. Guidance: near-term demand moderation to continue; EBITDA margin expected at lower end of 23-24% range; low single-digit price growth if commodities stay. Key risk: sustained urban slowdown could delay volume recovery.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects EBITDA margin to be at the lower end of the 23-24% band in the near term due to inflationary material prices.
- If commodity prices remain at current levels, HUL expects low single-digit price growth in the near term.
- Management expects current subdued demand trends to persist in the near term, with gradual rural recovery and urban moderation.
- Ice cream demerger scheme approved; Minimalist acquisition expected to close in Q1 FY26, subject to approvals.
Risks flagged
- Urban growth continues to moderate, and if real wage growth, food inflation, or employment do not improve, consumption recovery may be delayed.
- Consumers are trading down to smaller packs, and home care (lower realization) is growing faster, pressuring overall mix and volume growth.
- Analyst raised concern that fast-growing D2C brand may lose agility post-acquisition; management plans to operate it as a 'speedboat' but execution risk remains.
- Crude palm oil and tea remain inflationary; recent volatility in crude oil and rupee could pressure margins if not managed.
Key quotes
- We want to preserve the magic, the logic, the fundamentally robust business the two great founders have built.
- We are not working on a hypothesis that this is going to be forever. We think this is going to get better. We can't say specifically when.
- We have now assessed more than 95% of our portfolio using the unmissable brand superiority framework. I'm very happy to report that more than 80% of our turnover is unmissably superior.
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