ITC vs HUL: which FMCG heavyweight deserves a spot on your watchlist? (opens original article in a new tab)

India's FMCG sector is expected to grow significantly, with ITC and HUL showing different strengths in revenue, profitability, and debt management.

• India's FMCG sector reached $289.1 billion in 2025 with a projected 17.3% CAGR through 2030.
• ITC's revenue growth outperformed HUL in FY26, but HUL maintained better margin stability.
• HUL reduced total debt to zero by FY26 while ITC's debt increased sharply.