Jurnal Akutansi Manajemen Ekonomi Kewirausahaan (JAMEK)
Vol 6 No 3 (2026): Edisi September 2026

Financial Performance and Profitability Trends in the Indian FMCG Sector: A Longitudinal Study of Hindustan Unilever Limited, India

Nidhish Padmanabhan (Department of Commerce, Bishop Heber College (Autonomous) (Affiliated to Bharathidasan University, Tiruchirappalli - 620 024), Tamil Nadu, India)
Vineetha Vijayan (Department of Commerce, Bishop Heber College (Autonomous) (Affiliated to Bharathidasan University, Tiruchirappalli - 620 024), Tamil Nadu, India)
C. Precilla (Department of Commerce, Bishop Heber College (Autonomous) (Affiliated to Bharathidasan University, Tiruchirappalli - 620 024), Tamil Nadu, India)



Article Info

Publish Date
30 Sep 2026

Abstract

Financial performance helps us understand whether a company can grow its business, earn profits and provide returns to its shareholders. This study examines the financial performance and profitability of Hindustan Unilever Limited (HUL) over ten financial years, from FY 2015-16 to FY 2024-25. It looks at changes in turnover, earnings before interest, tax, depreciation and amortisation (EBITDA), profit after tax (PAT), cash from operations, earnings per share (EPS) and dividend per share (DPS). The study also examines whether PAT shows a statistically significant upward trend and whether there is a significant relationship between turnover and PAT. The study uses a quantitative approach and examines financial data collected over ten years. The data were taken from HUL’s published annual reports and official financial disclosures. Annual growth rates and EBITDA margins are used to understand how the company’s business and profitability changed over the years. Descriptive trend analysis, simple linear regression and Pearson’s correlation are used to study the financial figures and test the proposed hypotheses. The findings show that HUL’s turnover increased from ₹32,929 crore in FY 2015-16 to ₹60,680 crore in FY 2024-25. During the same period, PAT increased from ₹4,137 crore to ₹10,644 crore. EBITDA, EPS and DPS also recorded considerable increases over the ten-year period. However, the company’s growth was not the same every year. In FY 2024-25, turnover and EBITDA grew more slowly than in some earlier years. Cash from operations also fell from ₹15,179 crore in FY 2023-24 to ₹13,789 crore in FY 2024-25, even though PAT increased. The reported statistical results suggest that PAT followed an upward trend and that turnover had a strong positive relationship with PAT. However, these results need to be confirmed using a consistent financial dataset in which the figures have been checked and reconciled. The study shows why a company’s financial performance should not be judged by its sales or profits alone. Changes in operating profitability, cash generation and returns to shareholders also need to be considered. By examining HUL’s financial results over ten years, this study provides a clearer picture of the company’s financial performance over time. However, the findings are limited to one company and ten annual observations, which should be considered when interpreting the results.

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Journal Info

Abbrev

JAMEK

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Akutansi Manajemen Ekonomi dan Keuangan di Publikasikan oleh Forum Kerjasama Pendidikan Tinggi (FKPT) yang Berisi artikel yang diambil dari penelitian di bidang Akuntansi Manajemen, Ekonomi,manajemen Bisnis, Manajemen Sumber daya Manusia, Manajemen Pemasaran, manajemen strategis, manajemen ...