Hindustan Unilever shares drop as much as 5% on July 28 after Q1 volume growth misses estimates

Hindustan Unilever's Q1 results underwhelmed on key operating indicators: domestic volume growth of 5% missed expectations, while higher tax expense pressured net profit and EBITDA margin came in slightly below consensus. Although revenue beat estimates, the quality of growth raised concerns, triggering a sharp single-day equity selloff. The news is largely idiosyncratic to HUL and signals cautious consumer staples sentiment in India.