HUL Q3 Results 2026 came with a big headline number. Hindustan Unilever Ltd (HUL) reported a sharp jump in consolidated net profit, more than doubling year-on-year.
But beneath the surface, there’s more to unpack. The numbers tell one story. The business operations tell another. Let’s break it down simply and clearly.
Market Performance: HUL Shares React
Soon after the HUL Q3 Results 2026 announcement, the stock was trading 0.9% lower at ₹2,440.80 on the BSE at 10:32 am.
At the same time, the Sensex was down 0.37%, or 309 points, at 83,924.93.
The reaction suggested that while headline profit looked strong, investors were closely reading the details behind the numbers.
Main News: HUL Q3 Results 2026 Profit Jumps 120%
Hindustan Unilever Ltd reported a 120% year-on-year rise in consolidated net profit for Q3FY26.
Key Financial Highlights – Q3FY26
- Net Profit: ₹6,603 crore (up 120%)
- Q3FY25: ₹2,989 crore
- Exceptional Gain: ₹4,611 crore
- Driven by demerger of ice cream business
- Total Income: ₹16,580 crore (up 5%)
- Q3FY25: ₹15,788 crore
The sharp jump in net profit was largely supported by a massive exceptional gain of ₹4,611 crore following the demerger of its ice cream business.
Without this one-time gain, the picture looks different.
Core Performance: What the Underlying Numbers Say?
When we exclude exceptional items, the trend becomes clearer.
- Core Profit After Tax (PAT): ₹2,118 crore
- Q3FY25: ₹3,027 crore
- YoY decline in core profitability
This means while reported profit surged due to the demerger gain, core earnings saw a decline compared to last year.
Revenue Growth in HUL Q3 Results 2026
Revenue growth remained steady despite challenges.
- Revenue from Continuing Operations: ₹16,441 crore (up 6% YoY)
- Consolidated Total Income: ₹16,580 crore (up 5% YoY)
This reflects resilience in HUL’s core consumer business even amid a challenging input cost environment.
EBITDA & Margins: Slight Pressure Visible
Let’s look at operating performance from HUL Q3 Results 2026.
- EBITDA: ₹3,788 crore (up 3%)
- Q3FY25: ₹3,689 crore
- EBITDA Margin: 23.3%
- Q3FY25: 24.0%
- Decline of 70 basis points
So, while EBITDA grew modestly by 3%, margins compressed by 70 bps.
That signals cost pressures, even though revenue expanded.
Segment-Wise Performance in HUL Q3 Results 2026
The strength of HUL lies in its diversified portfolio. Segment numbers show where growth came from.
1️ Home Care – Largest Contributor
- Revenue: ₹5,887 crore
- Growth: 3% YoY
Home Care continues to anchor overall revenue.
2️ Beauty & Wellbeing – Strong Performer
- Revenue: ₹3,930 crore
- Growth: 11% YoY
This was one of the strongest-growing segments in the quarter.
3️ Personal Care
- Revenue: ₹2,370 crore
- Growth: 1% YoY
Growth remained modest in this segment.
4️ Foods
- Revenue: ₹3,689 crore
- Growth: 6% YoY
Stable growth supported overall revenue expansion.
5️ Other Businesses (Including Exports)
- Revenue: ₹565 crore
- Growth: 6% YoY
Demerger Impact: A Big Structural Move
A key highlight of HUL Q3 Results 2026 was the completion of the demerger of its ice cream business.
- Ice cream business transferred to Kwality Walls (India) Ltd
- The entity is expected to list on stock exchanges in the coming weeks
- Exceptional gain recorded: ₹4,611 crore
This demerger significantly boosted reported profit in Q3FY26.
The move allows HUL to sharpen focus on its core categories.
Portfolio Reshaping: Strategic Decisions
HUL also announced two key portfolio actions:
- Approved acquisition of full ownership in clean-label nutrition brand OZiva
- Decision to exit underperforming joint venture Nutritionalab (Wellbeing Nutrition)
These moves reflect a sharper capital allocation approach — strengthening core brands while exiting weaker bets.
Nine-Month Performance (9MFY26)
For the nine months ended December 2025, numbers show a mixed trend.
Revenue (9MFY26)
- ₹48,117 crore
- Up 4% YoY
- Previous year: ₹46,138 crore
PAT from Continuing Operations
- ₹7,650 crore
- Down 6% YoY
- Previous year: ₹8,179 crore
Reported PAT (Including Exceptional Gain)
- ₹12,048 crore
- Up 47% YoY
- Previous year: ₹8,185 crore
Once again, exceptional items played a major role in pushing reported profit higher.
GST-Related Inventory Disruptions
HUL had earlier flagged inventory disruptions in the market due to GST rate cuts.
The disruption continued into October. The company implemented changes in:
- MRP adjustments
- Grammage changes
These were aimed at passing on GST rate cut benefits to consumers across categories.
What HUL Q3 Results 2026 Really Indicate?
At first glance, HUL Q3 Results 2026 look explosive because net profit more than doubled to ₹6,603 crore.
But the deeper reading shows:
- Revenue growth: 5–6%
- EBITDA growth: 3%
- EBITDA margin: Down 70 bps
- Core PAT: Lower YoY
- Exceptional gain: ₹4,611 crore
The exceptional gain from the ice cream demerger significantly lifted reported profits.
Meanwhile, the core business showed resilience in revenue but faced margin pressure.
Company Overview: India’s FMCG Giant
Hindustan Unilever Ltd is India’s largest consumer packaged goods company.
Its portfolio spans:
- Home Care
- Beauty & Wellbeing
- Personal Care
- Foods
- Exports
The diversified structure allows stability across categories even when individual segments slow down.
Summary of HUL Q3 Results 2026
Here’s a crisp wrap-up of the quarter:
- Net Profit: ₹6,603 crore (up 120%)
- Revenue: ₹16,580 crore (up 5%)
- EBITDA: ₹3,788 crore (up 3%)
- EBITDA Margin: 23.3% (down 70 bps)
- Exceptional Gain: ₹4,611 crore
- Core PAT: ₹2,118 crore (down YoY)
The headline number in HUL Q3 Results 2026 was powered by the ice cream demerger.
Core operations remained stable but saw some pressure at the profitability level. Segment growth was led by Beauty & Wellbeing, while Home Care continued to anchor revenue.
The quarter reflects structural shifts, portfolio tightening, and a clear separation between reported profit and underlying business performance.
As the dust settles after the demerger, market attention will remain on how the core categories perform in the coming quarters.
Source: Livemint
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