Hindustan Unilever shares were trading higher at ₹2,149.60, marking a 2.44% increase from its previous close at 12:44 pm on Friday. The stock demonstrated resilience despite prevailing bearish sentiment, reflecting investor confidence in the company's strong fundamentals and growth trajectory. The positive market response comes as the company continues to deliver consistent financial performance across multiple quarters.
ICICI Securities has issued a buy rating on Hindustan Unilever with a target price of ₹2,800 in its research report dated July 15, 2026. According to the brokerage's analysis, the stock could trade at 49x P/E Mar'28E at the target price. The recommendation is based on the company's focus on competitive, volume-led revenue growth driven by execution, portfolio reshaping, premiumisation and channel transformation.
Hindustan Unilever has demonstrated consistent financial growth over the past few years on a consolidated annual basis. Revenue increased by approximately 23% from ₹52,446 crore in the year-ending March 2022 to ₹64,468 crore in the year-ending March 2026. Net Profit also saw a steady rise, climbing by 20% from ₹8,887 crore in March 2022 to ₹10,667 crore in March 2026. The Earnings Per Share (EPS) followed a similar trajectory, growing by approximately 69% from ₹37.79 in March 2022 to ₹64.01 in March 2026.
On a quarterly consolidated basis, the company's revenue has shown some fluctuations. For the quarter-ending March 2026, revenue stood at ₹16,351 crore, representing a marginal decrease of 0.5% from ₹16,441 crore reported in the preceding quarter-ending December 2025. Net Profit for the March 2026 quarter was ₹2,998 crore, a notable decrease of 54.6% from ₹6,610 crore in the December 2025 quarter. The latest Union Cabinet approvals, including Semicon 2.0 with a total outlay of ₹1.275 lakh crore and the Mobile Phone Manufacturing Scheme with ₹62,500 crore over five years, are expected to create significant opportunities across multiple sectors.
The research report highlights insights from Niranjan Gupta, who has been shaped by consumer proximity and intellectual curiosity throughout his career. According to the report, Gupta's diverse experience across HUL, Unilever, Vedanta and Hero MotoCorp has influenced his current philosophy of staying close to consumers, simplifying complexity, and building organisational speed. These principles align with HUL's number one priority of competitive, volume-led revenue growth. The company has announced a final dividend of ₹22.00 per share (2200%) with an effective date of June 23, 2026, following an interim dividend of ₹19.00 per share announced on October 23, 2025.
