Transcript of the Earnings Conference Call for the quarter ended 30th June, 2026

4th August, 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 ended 30th June, 2026 This is further to our letter dated 28th July, 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 ended 30th June, 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/files/jq26-earnings-call-transcript.pdf. Please take the above information on record. Thanking You. Yours faithfully, For Hindustan Unilever Limited Radhika Shah Company Secretary & Compliance Officer Membership No: A19308 June Quarter 2026 Earnings call of Hindustan Unilever Limited July 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 & Head of Finance, Personal Care Page 1 of 25 June 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 June 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 call, 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 Head of Finance, Personal Care. Thank you, and over to you, sir. Yogesh Mulgaonkar: Thank you, Dorwin. Good afternoon, everyone. Welcome to the conference call of Hindustan Unilever Limited. This evening, we will be covering the results for quarter ended 30th June 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 around 45 minutes for the Q&A session. We will look to end the call by 5:00 PM. 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's sake. With that, over to you, Priya. Priya Nair: Good afternoon, everyone. Thank you for joining us on the call today. Welcome to the first earnings call of full year '26-'27. Let me begin with an update on the operating context, followed by key performance highlights. Subsequently, Niranjan will take you through the results and conclude with the outlook. The quarter was shaped by an increasingly uncertain global environment, characterized by geopolitical tensions, volatile commodity markets and currency fluctuations. Against this backdrop, India demonstrated notable resilience. The country entered this period with solid macroeconomic foundations, supported by the policy measures implemented through FY26. Page 2 of 25 June Quarter 2026 Earnings call of Hindustan Unilever Limited During the quarter, coordinated fiscal and monetary policy actions helped to manage energy security, inflation and currency volatility. These interventions helped to cushion the impact on households and business, aiding macroeconomic stability. The FMCG demand environment remained stable during the quarter, reflecting the underlying strength of consumption. In this context, we delivered another quarter of progressively improving performance. Turnover for the quarter stood at INR17,184 crores, with an Underlying Sales Growth of 10%, driven equally by volume and price. This represents our highest growth in 13 quarters. It reflects the result of decisive actions taken to transform our portfolio, sharpen execution and strengthen market development. What is particularly encouraging is the consistency of progress. Our growth trajectory has strengthened from 3% in the first half of FY’26 to 10% in this quarter. Equally important is that this growth is competitive as we continue to gain turnover weighted market share. The combination of accelerating growth, healthy volume contribution and strengthening competitiveness reinforces our conviction that we are building a future-fit business for long-term growth. We have delivered this strong performance in a volatile environment with resilience and agility. This was enabled by the competitive moats we have built over time. Let me touch on a few of them. First, our supply chain resilience proved to be a critical advantage. By harnessing the scale of our global procurement network, we ensured continuity of supplies without any disruption. Complementing this, our digitally powered agile R&D and flexible manufacturing capabilities helped us to maintain service levels throughout the quarter. Second, our portfolio strength was a key source of resilience. With 50 brands in 15 categories straddling across the price-benefit pyramid, we are uniquely positioned to serve the diverse evolving needs of consumers. Given the strength of our brands and portfolio, we have been able to implement calibrated pricing while preserving our consumer franchise. Page 3 of 25 June Quarter 2026 Earnings call of Hindustan Unilever Limited Third, despite the cost pressures, we continue to invest behind our brands to support long-term growth. In June quarter, we stepped our A&P spends up sequentially to INR1,657 crores, the highest in 11 quarters. Similarly, we continue to strengthen our omni-channel execution. Quick commerce continued to grow strong double digits, while in GT, we grew our distribution, led out of small towns and rural. Further, we continue to expand off-line expansion of our digital-first brands like Minimalist and Simple. And finally, our financial agility enabled us to balance near-term pressure with long-term value creation. Our rigorous savings program, coupled with disciplined P&L management, helped us manage the cost inflation and generate fuel for growth. Backed by a strong balance sheet and healthy cash generation, we continue to invest behind our brands, innovation and market-making capabilities. As we step up our performance, we are equally focused on building capabilities that will shape our next phase of growth. Our approach is to invest ahead of the curve, on innovation, technology, manufacturing, and digital transformation to ensure that we remain future-fit and create desire at scale. A powerful example of this commitment is the launch of Unilever Fragrance House in India. It is a part of a global program to advance fragrance creation capabilities, both in-house and in partnership with key fragrance houses. It brings together the best of science, consumer insight and artificial intelligence close to one of the fastest-growing markets in the world. Our Liquids Lab of the Future in Mumbai is another such example. It is built with advanced AI and digitally enabled facilities to accelerate innovation in future- facing high-growth formats. This lab can accelerate formulation development timelines by up to 6 times to respond with speed to consumer needs. In supply chain, we are continuing to raise the bar on manufacturing excellence. In this quarter, the Haridwar and Sonepat factories were recognized by the World Economic Forum’s Global Lighthouse Network in the Supply [Showing first 8,000 characters — download PDF for full document]