Guidance ledger · Q4 FY26

Hindustan Unilever HINDUNILVR

3 revisions on record · 0 lowered · 1 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↑ raised EBITDA margin guided range (mid-term) Q3 FY26 → Q4 FY26

~~22% to 23%~~ → 22.5% to 23.5%

“we expect the mid-term margin guidance to remain around our current guided range of 22.5% to 23.5%”

→ narrowed Forward growth horizon Q3 FY26 → Q4 FY26

~~FY27 better than FY26 (directional)~~ → FY27 better than FY26 (re-anchored under crude crisis)

“we expect FY '27 to be better than FY '26”

→ narrowed Quarterly pricing visibility Q3 FY26 → Q4 FY26

~~Q3FY26: refuses quarterly granularity~~ → Q4FY26: refuses FY27 full-year number too

“it's very difficult to give out a number or b number for the full year”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.