HINDUNILVR · Fast Moving Consumer Goods
A lower tax rate lifted profit. Is the lower rate going to last?
Effective tax rate 16.0% against 26.3% over the previous quarters, worth about ₹338 cr of profit.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹15,623 cr | ₹15,567 cr | ₹15,210 cr | ₹15,707 cr | ₹15,926 cr | ₹15,556 cr | ₹15,190 cr | ₹15,757 cr | ₹15,919 cr | ₹16,441 cr | ₹16,351 cr | ₹17,341 cr |
| YoY | — | — | — | +1% | +2% | −0% | −0% | +0% | −0% | +6% | +8% | +10% |
| EBITDA margin | 24.3% | 23.5% | 23.2% | 23.8% | 23.8% | 23.7% | 23.8% | 23.1% | 23.8% | 23.0% | 23.5% | 22.8% |
| Other income, % of PBT | 5% | 5% | 9% | 6% | 6% | 18% | 4% | 3% | 7% | 55% | 13% | 3% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 27% | 25% | 26% | 27% | 25% | 27% | 16% | 25% | 11% | 24% | 26% |
| Net profit | ₹2,657 cr | ₹2,508 cr | ₹2,561 cr | ₹2,612 cr | ₹2,595 cr | ₹2,989 cr | ₹2,475 cr | ₹2,768 cr | ₹2,694 cr | ₹6,603 cr | ₹2,994 cr | ₹2,680 cr |
| YoY | — | — | — | +2% | −2% | +19% | −3% | +6% | +4% | +121% | +21% | −3% |
| Core profit YoY | — | — | — | −0% | −2% | +0% | +4% | −4% | −0% | +3% | +6% | +10% |
| EPS | ₹11.30 | ₹10.68 | ₹10.89 | ₹11.11 | ₹11.03 | ₹12.70 | ₹10.49 | ₹11.73 | ₹11.43 | ₹28.12 | ₹12.73 | ₹11.38 |
| Flags | · | · | · | ✓ | ✓ | 1 | ✓ | 1 | ✓ | 3 | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Hindustan Unilever Ltd. reported revenue of ₹15,757 cr (+0.3% on the year) and net profit of ₹2,768 cr (+6.0% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved −3.9% on the year, against +6.0% for reported profit.
1 check raised a question: A lower tax rate lifted profit. Is the lower rate going to last?
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