ITC vs HUL FY26: ITC pulls ahead on 10.3% revenue growth as HUL bets on distribution
ITC outpaced HUL in FY26 with 10.3% revenue growth versus HUL's 5% underlying sales growth, while ITC's 3-year CAGR of 3.6% topped HUL's 2.1%. HUL countered by adding 200,000 stores to its distribution network. ITC also scaled Mysuru nicotine manufacturing and held an 88% dividend payout, even as Nifty FMCG fell 12.7% YoY.
Comparison of FMCG heavyweights ITC and HUL on FY26 performance: ITC led revenue growth at 10.3% versus HUL's 5% USG, while HUL added 200,000 stores expanding distribution and ITC scaled Mysuru nicotine manufacturing.