HINDUNILVR Q2 FY27 Guidance vs Delivery (HINDUNILVR Management Mirror)

Sep'26 Qtr EBITDA Margin at 22.4%, Meeting the ~23% Range Guided in Jun'26 Qtr

In Sep'26 Qtr, Hindustan Unilever reported an EBITDA margin of 22.4% with an absolute EBITDA of INR 4,089 crore. This outcome meets the FY27 margin defense guidance reaffirmed in the Jun'26 Qtr concall, which expected margins to remain around 23% despite commodity and currency pressures. Looking ahead, management has updated its medium-term EBITDA margin guidance range to 22% to 24%, indicating that while the portfolio is structurally positioned for gross margin expansion over a 3-to-5-year horizon through premiumization, near-term margins may experience cyclical variations toward the lower end of the band due to input cost volatility.