In the first week of October 2022, the Market Capitalization of Mumbai- headquartered Hindustan Unilever (HUL) reached 67% of its parent company Unilever based in London, UK. HUL’s m-cap touched $77 billion as compared to Unilever’s $115 billion, a report in Economic Times said.
Unilever’s market capitalization has deteriorated in the past five years, while that of HUL has more than doubled.
Analysts attribute this result to:
- increasing rural demand
- falling prices of raw materials
- the festive season in India
- HUL being among the companies that have the deepest rural penetration in India
In May, Unilever Global Chief Executive Alan Jope said that the demand for its products in India might soon outstrip that of the U.S.
“An untold story is the amount of digital innovation that’s happening in India, how we run our supply chain, route to market innovation, digital innovation, some of the marketing programs that we are doing there and I hope that what India will be is a beacon of digital innovation as well as being a powerhouse commercially,” Jope told Economic Times.
Last updated: December 26th, 2025
