BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Hindustan Unilever Ltd.’s Q2 FY22 results are in line with our estimates – revenue/Ebitda/adjusted profit after tax grew 11.2%/9.2%/9.2% YoY.
The domestic business saw 11% growth, backed by subdued 4% volume growth.
Health, hygiene and nutrition (85%) grew 7%, while discretionary (12%) grew 31%. The out-of-home business (3%) grew 74% on improved consumer mobility.
Gross margin contracted 142 basis points to 51.6% due to elevated costs in top-three commodities – palm oil (palm fatty acid distillate), crude oil, and high density polyethylene (packaging).
Despite higher price increases and with lower rise in employee cost, ad-spend and other expenditure, HUL's Ebitda growth was controlled at 9.2%, while Ebitda margin shrank 46 basis point to 24.6%.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR