Announcement under Regulation 30 of SEBI Listing Regulations
HINDUNILVR · price
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HUL has issued a pre-results update ahead of its Q2 FY26 earnings (Board approval scheduled for 23rd October 2025) highlighting the impact of recent GST reforms. Around 40% of its portfolio — including toilet soap, toothpaste, shampoo, hair oil, talcum powder, lifestyle nutrition and other foods — has moved to a lower GST rate of 5% from the earlier 12% or 18%, with benefits being passed to consumers from 22nd September. However, distributors and retailers are currently clearing old-priced inventory, leading to postponed orders and delayed consumer buying, which has hurt September sales. The company expects this disruption to continue into October, with consolidated business growth likely to be near flat to low-single digit for the quarter ending 30th September 2025. Recovery is anticipated from November as prices stabilize and disposable incomes rise.
Near-term weakness in Q2 FY26 sales and earnings is expected due to channel destocking, but the GST rate cuts should boost long-term consumption demand, margin stability and volume growth for HUL once the transition settles.