HUL - Detergent Drags Q3 Volumes; Foods Grow Strongly: ICICI Direct 
A store employee arranges Hindustan Unilever Ltd.’s Surf Excel detergent powder in Mumbai, India. (Photographer Adeel Halim/Bloomberg News)

HUL - Detergent Drags Q3 Volumes; Foods Grow Strongly: ICICI Direct 


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.

ICICI Direct Report

Hindustan Unilever Ltd. reported moderate 4% volume growth in Q3 FY21 unlike strong growth for other fast moving consumer goods companies mainly due to dismal sales in detergent category.

The category (contributes ~30% to the company’s sales) has seen muted sales growth post pandemic as schools and offices are not fully functioning.

Further, price hikes in respect to cost inflation in palm oil and tea have been only calibrated and partial.

The company has taken two subsequent price hikes of 2.5% in December 2020 and January 2021.

Click on the attachment to read the full report:

ICICI Direct HUL Q3FY21 Result Update.pdf


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