HUL Q2 preview: Margins pressures loom as raw material prices continue to rise
Hindustan Unilever moved higher in a quarterly results development.
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Analysts estimate HUL’s July-September revenue at ₹17,582 crore and net profit at ₹2,784 crore. Higher raw material costs could pressure margins, while price increases may affect volumes.
The analysis
Hindustan Unilever reported ₹17,582 crore and ₹2,784 crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.4% on the day at ₹1,792.80, and has returned -15.2% over three months. It sits 29% below its 52-week high, which means a good deal of bad news was already in the price. The fmcg sector has moved -10.0% over the same period, so Hindustan Unilever is running 5.2 points behind its peers.
For Hindustan Unilever, the question is how much of this is already reflected in the price and how much re-rates the fmcg peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- In focus: Hindustan Unilever (HUL) (HINDUNILVR), in FMCG.
- Over three months: Hindustan Unilever (HUL) -15.2% against FMCG -10.0% (5.2 points behind).
- At least 25% below the 52-week high: Hindustan Unilever (HUL) (29%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Hindustan Unilever (HUL)HINDUNILVR · FMCG | ₹1,792.80 | -1.4% | -6.4% | -15.2% | -28.6% | 1.9× | — |
FMCG
1M -8.0% · 3M -10.0%
Hindustan Unilever (HUL)
Prices as of 27 Oct 2026, 12:52 IST. Sector moves are the average of the stocks we track in each sector.
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