The Indian market is showing strong volume growth for Unilever, says CEO Fernandez

The British multinational consumer goods maker said the “fundamental” aspects of its business in India, its second-largest market after the US, are improving.

In the fourth quarter, Unilever, in the home care segment, reported underlying sales growth of 4.7 percent, along with volume growth of 4 percent, which the company said was supported by “continued strong volume in India.”

“India was a key contributor to this momentum, with Home Care delivering mid-single-digit volume growth, led by strong performance in liquids in the laundry and home care sectors, and achieving its highest ever market share,” CEO Fernando Fernandez said in Unilever’s fourth quarter earnings call.

Fernandez said the US and India are clear “anchor markets” for Unilever across all regions.

Replying to a question on growth, he said: “India is improving both in terms of economics and business fundamentals, especially strengthening our brand equity… brand superiority scores in India are improving across the board.” Moreover, its implementation is also improving, especially in rural areas and in traditional independent trade, Fernandez added.

“And we are growing our market share, especially in home care. We have reached 40 percent of our turnover there. We have achieved the highest share ever there in the last reading,” he added.

Indian subsidiary Hindustan Unilever achieved underlying sales growth of 5 percent in the December quarter, led by underlying volume growth of 4 percent.

While by 2025, the Indian operations will see “underlying sales growth of 4 percent on volume of 3 percent”, supported by “gradually improving market conditions and competitive performance with market share gains”.

Unilever also recognized HUL’s revenue growth of 5 percent, with the 4 percent volume growth “reflecting an improvement in performance and recovery following the Goods and Services Tax disruption.” “Our focus remains on beauty and wellness, and personal care, with an emphasis on premium segments, digitally native brands and dCommerce exposure, especially in the US and India,” he said.

Unilever has reported sales of 50.5 billion euros in 2025, a decline of 3.8 percent due to unfavorable currency effects and net divestments.

Hindustan Unilever (HUL) is consistently ranked as Unilever’s second largest market globally by revenue after the United States, with India accounting for approximately 12 to 14 percent of total revenue.