Hindustan Unilever (HUL) is expected to report muted earnings growth in its upcoming Q4 results, reflecting the challenges faced by the FMCG sector. Despite a narrowing gap between urban and rural growth, the company’s performance is yet to fully reflect this trend. The company is projected to report a 1.16% increase in revenue, with volume growth estimated at 3%. However, a hit of ₹75 crore on sales due to the expiration of the GSK consignment arrangement is expected to impact results. HUL’s Q4 net profit is anticipated to rise 2.71% to ₹2,538 crore, with EBITDA marginally increasing by 0.60% and EBITDA margins remaining flat at 23.2%. Despite higher ad spend and other expenses, gross margins are expected to expand due to lower raw material costs. HUL’s share price has declined over 15% in 2024, reflecting the challenges faced by the FMCG sector.