Results for the quarter and nine months ended 31st December, 2025 is enclosed
HINDUNILVR · price
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HUL reported Q3 FY26 consolidated revenue from operations of Rs 16,197 crores, up ~6% YoY, with total sales from continuing operations growing 6% to Rs 16,235 crores. EBITDA rose 3% to Rs 3,788 crores but EBITDA margin contracted by 70 basis points to 23.3%, reflecting continued input cost and demand pressure. Profit after tax from continuing operations fell 30% YoY to Rs 2,118 crores (consolidated) and 15% to Rs 2,590 crores (standalone), dragged by a Rs 576 crores net exceptional charge in continuing operations. A major event was the demerger of HUL's ice cream business into Kwality Wall's (India) Limited, effective 1st December 2025, which booked a one-time gain on demerger of Rs 4,611 crores, pushing reported consolidated PAT (including discontinued operations) up 121% YoY to Rs 6,603 crores. The Board also approved acquiring the remaining 49% stake in Zywie Ventures and divesting the stake in Nutritionalab Private Limited. The statutory auditor (Walker Chandiok & Co LLP) issued an unmodified review report.
The headline PAT surge is almost entirely a one-time accounting gain from the ice cream demerger and should not be read as operational strength — underlying continuing-ops profit actually declined sharply, and margin compression continues. Post-demerger, HUL becomes a more focused FMCG play, but weak underlying earnings growth and shrinking margins may weigh on the stock in the near term.