Transcript of the Earnings call for quarter and half year ended 30th September, 2026

4th November, 2026 Stock Code: BSE: 500696 NSE: HINDUNILVR ISIN: INE030A01027 BSE Limited, National Stock Exchange of India Ltd Corporate Relationship Department, Exchange Plaza, 5th Floor, 2nd Floor, New Trading Wing, Plot No. C/1, G Block, Rotunda Building, P.J. Towers, Bandra – Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Dear Sir/Madam, Sub: Transcript of the Earnings Call for the quarter and half year ended 30th September, 2026 This is further to our letter dated 28th October, 2026, whereby the Company had submitted the link to the audio/video recording of the Earnings Call held post announcement of Financial Results for the quarter and half year ended 30th September, 2026. Pursuant to Regulation 30(6) read with sub-para 15, Para A, Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, please find enclosed the Transcript of the said Earnings Call, for your information and records. The transcript of the Earnings Call is also available on the Company’s website at https://www.hul.co.in/investors/results-and-presentations/quarterly-results-and- webcasts/september-quarter-2026-results/ Please take the above information on record. Thanking You. Yours faithfully, For Hindustan Unilever Limited Radhika Shah Company Secretary & Compliance Officer Membership No: A19308 September Quarter 2026 Earnings call of Hindustan Unilever Limited October 28th, 2026 Speakers: Ms. Priya Nair - Chief Executive Officer & Managing Director Mr. Niranjan Gupta - CFO, Executive Director, Finance Mr. Yogesh Mulgaonkar - Head of Investor Relations & Vice President Finance, Beauty & Wellbeing Page 1 of 25 September Quarter 2026 Earnings call of Hindustan Unilever Limited Moderator: Ladies and gentlemen, good day, and welcome to the Hindustan Unilever Limited Conference Call for the Results of Quarter ended 30th September 2026. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Yogesh Mulgaonkar, Head of Investor Relations and Vice President, Finance, Beauty & Wellbeing. Thank you, and over to you, sir. Yogesh Mulgaonkar: Thank you, Dorwin. Good afternoon, everyone. Welcome to the conference call of Hindustan Unilever Limited. Today, we will be covering the results for quarter ended 30th September 2026. On the call with me is Priya Nair, CEO and Managing Director; and Niranjan Gupta, our CFO. We will start with prepared remarks from Priya and Niranjan. We expect this to take around 15 minutes, leaving us approximately 45 minutes for the Q&A session. We will look to end the call by 5:00 p.m. Before we get started with the presentation, I would like to draw your attention to the safe harbor statement included in the presentation for good order sake. With that, over to you, Priya. Priya Nair: Good afternoon, everyone. Thank you for joining us on the call today. Welcome to the September quarter earnings call of financial year 2027. Let me begin with an update on the operating context, followed by key performance highlights. Subsequently, Niranjan will take you through the quarter results and conclude with the outlook. During the quarter, the global geopolitical environment was volatile, and commodity prices remained elevated. The Indian economy continued to demonstrate resilience with GDP growth of 7.8% in the first quarter. High frequency economic indicators remained healthy in September quarter, pointing to a sustained economic momentum. Demand conditions remained positive, Page 2 of 25 September Quarter 2026 Earnings call of Hindustan Unilever Limited supporting a favourable consumption environment. In this context, we delivered a Turnover of Rs. 18,071 crores with a 15% Underlying Sales Growth, our highest in the last 14 quarters. Underlying Volume Growth remained strong at 7%, underpinned by disciplined execution and ongoing portfolio transformation. Performance was broad-based across segments with Home Care and Beauty & Wellbeing delivering strong double-digit USG driven by strong double-digit UVG. Personal Care and Foods also saw a sequential step up, delivering 9% USG each. Along with this momentum, we continued to strengthen our competitive position. This strong top line performance also translated into a healthy profit growth with Profit After Tax before exceptional items growing 9% to Rs. 2,795 crores. Looking at the first half as a whole, Turnover reached Rs. 35,255 crores with 12% Underlying Sales Growth and 6% Underlying Volume Growth. PAT bei grew 9%, reflecting consistent delivery across both the quarters. Together, sustained top line momentum, strong volume performance and robust profit delivery underscore the strength and resilience of our business model. The Board approved an interim dividend of Rs. 19 per share for the financial year ending 31st March 2027. During the quarter, we unveiled our ‘Winning In New India’ strategy at our Capital Markets Day. We believe that India presents an incredible opportunity for growth in the consumer products industry. New growth pools are emerging across channels, geographies and consumer cohorts, each requiring differentiated capabilities and an approach to win. With our scale, portfolio breadth and executional capabilities, we are uniquely positioned to capture these opportunities across the four growth pools of consumption, premiumisation, market making and new spaces. We will power this ambition by crafting desirable brands that consumers love, building a future- fit go-to-market and leveraging AI as a distinctive competitive moat. Underpinning this strategy is our value creation model focussed on generating fuel and stepping up our investment for growth. Our talent, culture and ESG Page 3 of 25 September Quarter 2026 Earnings call of Hindustan Unilever Limited remains the foundation of how we operate and win. Together, these strategic choices position us well to deliver on our ambition of competitive, volume-led profit growth. In line with this strategy, we executed several actions during the quarter. We continue to invest behind our brands to drive their desirability. A notable example of this is Simple barrier repair range designed for consumers with sensitive skin. Powered by pro-ceramide, the range delivers proven efficacy by providing a superior sensorial experience, reinforcing Simple's expertise in sensitive skin. Many such examples across categories are helping us deepen our consumer engagement and unlock future growth opportunities. Similarly, we continued to build a future-fit Go-to-Market by tailoring our approach to the unique needs of each channel. In general trade, we expanded our coverage by adding 30,000 outlets this quarter while delivering healthy double-digit assortment growth. In modern trade, we stepped up investments behind category development, nearly doubling the asset deployment over the last 2 quarters. In e-commerce and quick commerce, our technology-led capabilities continued to drive sequential improvements in service levels. Our omni-channel strategy continues to be a powerful driver of competitive growth. New spaces are an important growth engine within our strategy. During the quarter, we extended Horlicks into the fast-growing protein segment with the launch of Horlicks Protein Powder. Leveraging Horlicks' nutrition credentials, the offering is designed to cater to consumers' everyday protein needs. We are encouraged by the early traction and see significant opportunity to build our presence in this category. Lastly, amid a volatile global geopolitical environment, our agile procurement and supply chain capabilities, combined with our financial resilience proved to be a competitive ad [Showing first 8,000 characters — download PDF for full document]