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ICICI Direct Report
Hindustan Unilever Ltd. reported a healthy set of numbers with 16.1% sales growth aided by consolidation of acquired brands (Horlicks, Boost, VWASH).
On a like to like basis, growth has been 3% supported by 1% volume growth.
Beauty and personal care segment recovered from 12% decline in Q1 to flat YoY sales in Q2.
Foods segment saw strong 19% growth supported by price hike in tea segment. Home care segment declined 1.6% with 2.3% price cuts in fabric wash.
The recovery in the business was led by complete normalisation of supply chain and strong demand in health, hygiene and nutrition space.
However, demand for discretionary and out of home products has still remained dismal.
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