HUL Capital Markets Day: No FY27 guidance shared; targets by CLSA, JPMorgan, UBS
CLSA suggested a 'Hold' on the stock with a target of Rs 1,804. Investec also suggested 'Hold' with a target of Rs 2,210. JPMorgan suggested 'overweight' with a target of Rs 2,425. UBS suggested 'Buy' with a target of 2,700.
- Sep 7, 2026,
- Updated Sep 7, 2026 8:36 AM IST
Hindustan Unilever Ltd’s Priya Nair, in her maiden Capital Markets Day as CEO, outlined plans to revive growth after uninspiring growth seen over the past few years. Analysts noted that no FY27 guidance was shared, with the earlier indicated double-digit earnings per share (EPS) growth guidance a notable absence. The operating profit margin (OPM) band was revised to 22-24 per cent from 22.5-23.5 per cent while the capex guidance was raised to 3 per cent of sales from 2 per cent earlier.
CLSA suggested a 'Hold' on the stock with a target of Rs 1,804. Investec also suggested 'Hold' with a target of Rs 2,210. JPMorgan suggested 'Overweight' with a target of Rs 2,425. UBS suggested 'Buy' with a target of 2,700.
"We view her approach and solutions to the actual challenges faced in the past as more pragmatic. Her strategy is to drive 40 per cent growth from increased consumption through higher usage and premiumization by offering more benefits; 40 per cent from market-making by bringing in more users; 20 per cent from pivoting portfolio to high-growth new whitespaces/ formats," Nomura said.
What remains to be seen is the execution, consumer acceptance and the time taken to uplift the growth – the only area the company pulled back from sharing any guidance and withdrew the earlier stated guidance as well, it said while suggesting 'Buy' and a target of Rs 2,450. The target implied 24 per cent upside.
Antique Stock Broking suggested 'Buy' on the stock with a target of 2,214.
MOFSL noted that HUL clocked a turnover of Rs 63,800 crore in FY26, with 21 brands surpassing the Rs 1,000 crore mark. Over 90 per cent of the turnover originated from categories where it holds the number one position, it said adding that more than 8,500 crore packs are sold annually and reach 90 lakh outlets and one or more HUL brands are used by 9 out of 10 Indian households.
MOFSL said HUL continued to focus on driving volume-led revenue growth. Despite concerns around rising crude prices and macro volatility, HUL believes it is well positioned to navigate the environment through commodity hedges, accelerated cost-saving initiatives, portfolio transformation strategies, and stronger omnichannel capabilities, it said.
"The management remains optimistic about delivering better performance in FY27 vs FY26. We reiterate our BUY rating on the stock with a TP of INR2,400 (based on 40x on Sep’28E EPS)," MOFSL said.
Hindustan Unilever Ltd’s Priya Nair, in her maiden Capital Markets Day as CEO, outlined plans to revive growth after uninspiring growth seen over the past few years. Analysts noted that no FY27 guidance was shared, with the earlier indicated double-digit earnings per share (EPS) growth guidance a notable absence. The operating profit margin (OPM) band was revised to 22-24 per cent from 22.5-23.5 per cent while the capex guidance was raised to 3 per cent of sales from 2 per cent earlier.
CLSA suggested a 'Hold' on the stock with a target of Rs 1,804. Investec also suggested 'Hold' with a target of Rs 2,210. JPMorgan suggested 'Overweight' with a target of Rs 2,425. UBS suggested 'Buy' with a target of 2,700.
"We view her approach and solutions to the actual challenges faced in the past as more pragmatic. Her strategy is to drive 40 per cent growth from increased consumption through higher usage and premiumization by offering more benefits; 40 per cent from market-making by bringing in more users; 20 per cent from pivoting portfolio to high-growth new whitespaces/ formats," Nomura said.
What remains to be seen is the execution, consumer acceptance and the time taken to uplift the growth – the only area the company pulled back from sharing any guidance and withdrew the earlier stated guidance as well, it said while suggesting 'Buy' and a target of Rs 2,450. The target implied 24 per cent upside.
Antique Stock Broking suggested 'Buy' on the stock with a target of 2,214.
MOFSL noted that HUL clocked a turnover of Rs 63,800 crore in FY26, with 21 brands surpassing the Rs 1,000 crore mark. Over 90 per cent of the turnover originated from categories where it holds the number one position, it said adding that more than 8,500 crore packs are sold annually and reach 90 lakh outlets and one or more HUL brands are used by 9 out of 10 Indian households.
MOFSL said HUL continued to focus on driving volume-led revenue growth. Despite concerns around rising crude prices and macro volatility, HUL believes it is well positioned to navigate the environment through commodity hedges, accelerated cost-saving initiatives, portfolio transformation strategies, and stronger omnichannel capabilities, it said.
"The management remains optimistic about delivering better performance in FY27 vs FY26. We reiterate our BUY rating on the stock with a TP of INR2,400 (based on 40x on Sep’28E EPS)," MOFSL said.