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Share Price Target 2026: FMCG giant delivers strong Q4 volume momentum, but cost pressures prompt Nuvama to flag margin risks

Hindustan Unilever Ltd. reported a broadly encouraging Q4 performance, with net sales and volumes rising 7 per cent and 6 per cent year-on-year, marking the strongest growth in the past 12 quarters. The improvement comes as the company logs its second straight quarter of growth under new MD & CEO Priya Nair, aided by traction across premium segments and distribution channels. However, Nuvama remain cautiously optimistic, noting that rising input costs and limited pricing flexibility could weigh on margins in the near term, even as the underlying demand recovery and execution gains remain intact.