Oziva FY26 Revenue Rises 80% as HUL's Full Acquisition Resurfaces
Oziva reported revenue of Rs 463.4 crore for FY26. Resurfacing a February 2026 move, HUL had acquired the remaining 49% stake for Rs 824 crore, making Oziva a wholly owned subsidiary.
The development
Oziva reported an 80 percent rise in FY26 revenue to Rs 463.4 crore, while HUL acquired its remaining 49 percent stake for Rs 824 crore in February 2026, making it a wholly owned subsidiary.
The numbers
- 80 percent
- Rs 463.4 crore
- FY26
- Rs 257.8 crore
- FY25
- Rs 454 crore
- Rs 257 crore
- Rs 8.3 crore
- Rs 8.3 lakh
- Rs 4.1 crore
- Rs 467.5 crore
- Rs 246.2 crore
- Rs 119.8 crore
- 63 percent
- Rs 116 crore
- Rs 45.4 crore
- 57 percent
- Rs 36.9 crore
- Rs 22 crore
- Rs 7 crore
- Rs 18.5 crore
- Rs 4.2 crore
- around Rs 3.5 crore
- Rs 8.8 crore
- 67 percent
- Rs 106 crore
- February 2026
- 49 percent
- Rs 824 crore
- 51 percent
- December 2022
- Rs 264.28 crore
- Rs 1,682 crore
Why it matters to operators and investors
HUL completed its acquisition of Oziva by buying the remaining 49% stake for Rs 824 crore, taking full ownership.
What to watch next
- Whether Oziva sustains high growth in subsequent reporting periods.
- Any disclosure of margins, cash burn or profitability alongside revenue growth.
- Expansion into HUL's offline retail channels and changes in geographic reach.
- Repeat-purchase and customer-acquisition trends, especially across online and marketplace channels.
- New product launches, pricing changes or shifts in Oziva's brand positioning.
- HUL is likely to prioritize selective distribution expansion and investment in Oziva's highest-growth products before attempting broad portfolio integration.
- Expect closer coordination of product development, marketing and channel strategy now that HUL owns the remaining stake.
- Retailers and competing wellness brands may respond with sharper promotions or increased emphasis on product differentiation.
The counter-case
An 80% revenue increase is not evidence of profitable or cash-generative growth. The Rs 824 crore payment buys out the remaining stake but does not itself improve Oziva’s operating performance; without margins, cash flow, or purchase terms, the deal could prove expensive. HUL already owned a majority stake, so full ownership may add little to reported revenue while increasing the share of earnings and risks attributable to HUL.