HUL share price target: From ₹1973 to ₹2820 in 12 months - Buy rating from Nuvama for Hindustan Unilever stock

HUL share price target: Brokerage firm Nuvama Institutional Equities has given a ‘buy’ call on Hindustan Unilever share price, with a target price of ₹2,820 per share.

The brokerage firm said that the company expects medium-term EBITDA margin guidance in the range of 22–24% and aims to generate 500bp of savings through premium mix improvement, operating leverage, the Future Savings Lab (100bp savings) and AI-led media effectiveness (10% improvement).

The firm further said that incremental revenue growth is expected to be driven by 40% from consumption and premiumisation, 40% from market making and the remaining 20% from new spaces.

“Capex is planned to increase from 2% to 3% of sales over the medium term. The share of capex allocated towards growth and savings will increase to 85% (from 75% over the last five years),” it said in a note.

The company also expects FY27 to deliver better performance than FY26, supported by continued focus on operational efficiency and cost management.

The company aims to keep fixed-cost growth at around 0.8 times revenue growth, helping improve operating leverage. HUL is also targeting stronger growth for its Dove brand, with an ambition to make it the company’s second-largest brand, up from its current No. 5 position.

HUL Q1 results FY27

The FMCG major reported a 3% year-on-year (YoY) decline in consolidated net profit to ₹2,673 crore for the quarter ended June 30, 2026 (Q1 FY27), compared with ₹2,756 crore recorded in the corresponding quarter of the previous fiscal year. The decline came despite a one-off tax credit recognised during the quarter.

HUL’s total income rose 10% YoY to ₹17,341 crore in Q1 FY27, from ₹15,757 crore in the same period last year.

At the operating level, earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to ₹3,947 crore in the June quarter from ₹3,640 crore in Q1 FY26. However, the EBITDA margin narrowed to 22.76% from 23.1% a year earlier.

The company said its EBITDA margin remained within the guided range despite operating in a volatile business environment.

“Despite global geopolitical volatility, the Indian economy demonstrated resilience, supported by proactive fiscal and monetary policy measures. The underlying demand environment remained stable during the quarter,” said HUL CEO and Managing Director, Priya Nair.

HUL share price trend

HUL share price has remained under pressure amid weak market sentiments. The FMCG stock has fallen 5.28% in a month and 13% in six months.

Furthermore, the stock has descended 15% on year-to-date (YTD) basis and 23.31% in the last one year.

Looking at the broader level, the stock has slipped 26% in five years, however, has delivered multibagger returns of 122.38% in ten years.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.