HUL's poor run of quarterly performances may continue

Analysts expect HUL to post among the weakest volume growth in the FMCG sector again

- Suneera Tandon

industan Unilever Ltd (HUL) is likely to report a subdued March quarter (Q4FY25), with analysts forecasting flat to low single-digit volume growth—extending a stretch of sluggish demand that, according to some brokerages, could make it the weakest performer in volume growth among its fast-moving consumer goods (FMCG) peers.

The company, which makes everything from soaps and shampoos to tea and detergents, will announce its earnings on Thursday. As a bellwether for the broader consumer goods sector, HUL's results are closely watched for signals on rural recovery, input cost inflation, and the resilience of discretionary spending.