Brands
Hindustan Unilever lathers up growth in FY’25 with a five per cent profit shine
MUMBAI:Hindustan Unilever Limited (HUL) has managed to keep its balance sheet gleaming, reporting a five per cent jump in profit after tax to Rs 10,644 crore for FY’25, even as topline growth remained modest at two per cent.
The year’s big soap opera? A slick pivot to premiumisation, digital demand drivers, and a hard scrub of its product portfolio.
For the March quarter (MQ’25), HUL clocked an underlying sales growth (USG) of 3 per cent, with volumes up two per cent. The FMCG major’s EBITDA margin stood at 23.1 per cent, slipping 30 basis points year-on-year, largely due to higher investments in innovation and future-facing channels. PAT for the quarter rose four per cent to Rs 2,497 crore.
The home care division sparkled, with mid-single digit volume growth buoyed by strong performance in fabric conditioners and a renewed push on premium liquids like Surf Excel Smart Shots. Liquids, in fact, are the brand’s current crush – the portfolio grew in double digits and is now being democratised with new formats and price points.
Beauty & wellbeing rose three per cent with hair care flexing double-digit volume muscle. Despite softness in mass skin care, the segment rode high on emerging channels and product launches like Liquid IV hydration sachets and summer-targeted sun care under Lakme and Vaseline.
The personal care vertical delivered three per cent USG despite a slight volume dip. Skin cleansing lathered up high-single digit growth in the non-hygiene segment, while Closeup ventured into whitening territory with its ‘White Now’ range. Lifebuoy took centre stage at the Maha Kumbh with a refreshed ‘skin protection’ pitch.
Food sales slipped one per cent, thanks to a drag in nutrition drinks, still reeling from pricing resets and category challenges. But there was flavour elsewhere – tea and coffee brewed growth, while ice cream melted hearts with double-digit volume gains and indulgent launches like Magnum Pistachio.
CEO Rohit Jawa highlighted a year of “competitive performance” driven by “portfolio transformation, premiumisation and digital-first growth”. Big moves included the Minimalist acquisition, Pureit exit, and ice cream demerger approval. HUL also declared a hefty Rs 53 per share dividend (including a special Rs 10) – a total payout of Rs 12,453 crore.
Looking ahead, the company expects demand to warm up in FY’26. With commodities stabilising, HUL is betting on low-single digit price growth and a volume-led playbook to deliver double-digit EPS growth.
While volume may not have exploded, HUL’s strategic polish, from digital detours to premium suds, helped it stay competitive, confident, and cash-rich. Not bad for a company that just turned 90.
Brands
Adobe CEO Shantanu Narayen to step down after 18 years in role
Board begins CEO search as Narayen prepares to move to chair role
SAN JOSE: After nearly two decades at the helm, Adobe’s long-serving chief executive Shantanu Narayen is preparing to pass the baton.
The company announced that Narayen will transition from his role as chief executive officer once a successor is appointed, ending an 18-year run that reshaped Adobe from a boxed software seller into a global cloud and AI powerhouse. He will remain chair of the board following the leadership transition.
Adobe’s board has formed a special committee to oversee the succession process, led by lead independent director Frank Calderoni. The committee will evaluate both internal and external candidates.
“Shantanu’s leadership has been instrumental in Adobe’s transformation and in positioning the company for the AI-driven era,” Calderoni said in a statement. “As we begin the next phase of succession planning, our focus is on identifying the right leader for the company’s next chapter while ensuring a smooth transition.”
In a note to employees, Narayen described the moment not as a farewell but as a pause for reflection after a long journey with the company.
“I love Adobe and the privilege of leading it has been the greatest honour of my career,” he wrote, adding that he will continue to work closely with the board over the coming months to ensure a seamless leadership change.
Tributes from the technology industry quickly followed the announcement. Microsoft chairman and chief executive officer Satya Nadella congratulated Narayen on what he described as a “legendary run” at Adobe.
“Congrats Shantanu, on a legendary run at Adobe! You’ve built one of the most important software companies in the world, and expanded what’s possible for creators, entrepreneurs, and brands everywhere,” Nadella wrote on LinkedIn.
“What has always stood out to me is the empathy you’ve brought to the creative process and the example you’ve set as a leader. Grateful for your friendship, mentorship, and for all you’ve done for Adobe and for our industry.”
Narayen’s career at Adobe spans nearly three decades. He joined the company in 1998 as vice president and rose steadily through the ranks before becoming chief executive officer in December 2007.
During that time, he orchestrated one of the most significant reinventions in the software industry. In 2013, Adobe made the bold decision to abandon traditional boxed software sales and move its flagship creative tools such as Photoshop to a subscription-based Creative Cloud model. The shift initially rattled investors but ultimately transformed Adobe into a predictable recurring revenue business and a case study in digital reinvention.
Narayen also pushed Adobe beyond creative tools into the world of marketing technology and data-driven customer experience, spearheading acquisitions such as Omniture and Marketo. Those moves helped build Adobe’s digital experience division and broaden its reach far beyond designers and photographers.
The numbers tell the story of that transformation. When Narayen took over in 2007, Adobe generated roughly $3 billion in annual revenue. Today the company reports more than $25 billion. Over the same period, its workforce expanded from around 3,000 employees to more than 30,000.
In recent years, Narayen has steered Adobe into the generative AI era with the launch of Adobe Firefly, aiming to keep the company ahead in a rapidly evolving creative technology landscape.
Born in Hyderabad in 1963, Narayen studied electronics and communication engineering at Osmania University before moving to the United States for a master’s degree in computer science from Bowling Green State University. He later earned an MBA from the Haas School of Business at the University of California, Berkeley.
Widely regarded as one of Silicon Valley’s most steady and effective leaders, Narayen has earned multiple honours during his career, including India’s Padma Shri in 2019.
For Adobe, the upcoming leadership change marks the end of a defining chapter. For Narayen, however, the story is far from finished. As he told employees, the company’s next era of creativity, powered by AI and new digital workflows, is only just beginning.
