Brands
Hindustan Unilever Limited posts 121 per cent profit jump in December Quarter
Earnings rise on demerger gains and steady sales growth
MUMBAI: Hindustan Unilever Limited (Hul) has proved it still has the magic touch to turn soap into gold, scrubbing away the competition with a set of results that are as refreshing as a morning shower. On 12th February 2026, the consumer goods titan unveiled its performance for the quarter ending 31st December 2025, revealing a bottom line that has been buffed to a high shine.
The headline figure was enough to make even the most stoic investor do a double take, with reported Profit After Tax (PAT) skyrocketing by 121 per cent to reach Rs 6,603 crores. However, this massive jump was largely the result of some corporate spring cleaning. The company’s decision to demerge its Ice Cream business provided a one-off positive impact that sent the numbers northwards. When you peel back that particular layer, the underlying performance remained steady but less theatrical, with Profit After Tax before exceptional items (PAT bei) edging up by 1 per cent to Rs 2,562 crores.
Revenue for the quarter climbed 6 per cent, hitting a sturdy Rs 16,235 crores. This was underpinned by a 5 per cent Underlying Sales Growth and a 4 per cent rise in Underlying Volume Growth, suggesting that despite the economic climate, Indian consumers are still happy to fill their baskets with Hul’s household staples.
The company’s various divisions performed with varying degrees of vigour:
Home care: This division generated Rs 5,887 crores in revenue with a 19 per cent segment margin. It achieved 3 per cent Underlying Sales Growth (USG) and recorded mid-single digit Underlying Volume Growth (UVG).
Beauty & wellbeing: The segment’s revenue reached Rs 3,930 crores with a high 26 per cent segment margin. It delivered 6 per cent USG and low-single digit UVG. Notably, the Health & Wellbeing sub-division, including OZiva, saw high double-digit growth.
Personal care: Revenue for this segment stood at Rs 2,370 crores with an 18 per cent segment margin. It achieved 6 per cent USG, although it experienced a low-single digit decline in UVG.
Foods: This division brought in Rs 3,689 crores in revenue with a 21 per cent segment margin. It showed strong performance with 6 per cent USG and high-single digit UVG.
CEO and managing director Priya Nair noted that demand trends are showing “early signs of recovery,” aided by supportive government policies and a fourth repo rate cut in 2025. To stay ahead of the pack, Hul is setting up a dedicated organisation for quick commerce to ensure their products reach customers faster than ever.
The company is also “doubling down” on its most promising bets. It has approved the acquisition of the remaining 49 per cent stake in Health & Wellbeing brand OZiva and is moving forward with the listing process for its demerged ice cream business, Kwality Wall’s.
While Ebitda margins held firm at 23.3 per cent, the company did face some headwinds from currency depreciation and divergent commodity trends. Nevertheless, with a 3 per cent growth in Ebitda to Rs 3,788 crores, Hul remains a formidable force in the Indian market.
As Hul looks towards the future, it is clear that the company is not just resting on its laurels. By focusing on premiumisation, digital agility, and a “Unified India” strategy that streamlines its leadership, the FMCG giant is ensuring that its future remains as bright and spotless as a freshly scrubbed floor.
Brands
Dunkin’ Donuts to exit India as Jubilant FoodWorks ends 15-year franchise deal
The quick service restaurant giant is ending a 15-year franchise partnership with the American doughnut chain, even as it renews its Domino’s agreement for another 15 years
NOIDA: Dunkin’ is done in India. Jubilant FoodWorks Ltd, the country’s leading quick service restaurant operator, has decided not to renew its franchise agreement with the American coffee and doughnut chain, and will wind down its Indian stores in a phased manner before December 31, 2026, bringing a 15-year partnership to a quiet, loss-laden close.
The decision, approved by JFL’s board on March 30, 2026, ends a relationship that began with a Multiple Unit Development Franchise Agreement signed on February 24, 2011. JFL will now evaluate and undertake what it described in a regulatory filing as the “rationalisation and/or cessation of certain operations and/or sale, transfer or disposal of assets and/or assignment or transfer of franchise rights,” all in consultation with Dunkin’s brand owners and strictly within the terms of the original agreement.
The numbers tell the story bluntly. In the financial year 2024-25, Dunkin’ India posted a revenue of Rs 37 crore against a loss of Rs 19 crore — a haemorrhage that was always going to test the patience of a parent company recording revenues of Rs 6,104 crore and a profit of Rs 194 crore in the same period. Doughnuts, it turns out, were never going to move the needle.
The contrast with JFL’s handling of its other marquee franchise could hardly be sharper. Even as it walks away from Dunkin’, the company has just doubled down on Domino’s, signing a fresh Master Franchise Agreement on March 31, 2026, granting it exclusive rights to develop and operate Domino’s Pizza stores in India for 15 years, with an option to renew for a further 10.
JFL, incorporated in 1995 and promoted by the Bharatia family, operates a network of more than 3,500 stores across six markets — India, Turkey, Bangladesh, Sri Lanka, Azerbaijan and Georgia. Its portfolio includes Domino’s and Popeyes on the global side, and two home-grown brands: Hong’s Kitchen and COFFY, a café brand in Turkey.
For Dunkin’, India was always a stretch. The brand never quite cracked the cultural code in a market where filter coffee and chai command fierce loyalty and where the doughnut remains, at best, an occasional indulgence rather than a daily habit. Fifteen years, mounting losses and a parent with better things to spend its capital on was always going to be a difficult equation to solve.
The doughnut has had its last day. The pizza, however, is staying.
