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.
Motilal Oswal Report
Hindustan Unilever Ltd.’s Q2 FY21 health, hygiene and nutrition portfolio (80% of the portfolio) grew 10% YoY (versus approximately 6% in Q1 FY21), discretionary categories (15% of portfolio – skin care, cosmetics, deodorants) declined 25% YoY (versus approximately down 45% in Q1 FY21), and out-of-home categories (5% of sales) declined 25% YoY (versus approximately down 70% in Q1 FY21).
The company is seeing -
1.ad-spends inching up (down 5% YoY; ahead of expectations), 2.sharp increase in palm oil costs, and 3. mix deterioration.
Thus, the company did well in growing its Ebitda margins (including GlaxoSmithKline Consumer Healthcare Ltd.) by 30 basis point YoY and restricting like-for-like margin decline to only 60 basis point YoY
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 brokerage 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