HUL Q3 Review - In-Line Operating Performance; Outlook Improving: Motilal Oswal
Sachets of Hindustan Unilever Ltd. Sunsilk shampoo and Dove shampoo are displayed for sale above a store. (Photographer: Kuni Takahashi/Bloomberg)

HUL Q3 Review - In-Line Operating Performance; Outlook Improving: Motilal Oswal

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. reported in-line operating performance for Q3 FY21.

Like-to-like sales growth of 7% YoY (20.9% YoY reported growth, including GlaoxSmithKline Consumer HealthCare Ltd.) was in-line.

On the other hand, underlying like-to-like volume growth of 4% was below expectations – with realisations (led by price increases in tea and soaps) making up for lower-than-expected volumes.

Like-to-like sales improved sharply to post 7% growth in Q3 FY21, from 7% decline in Q1 FY21 and 3% growth in Q2 FY21.

Click on the attachment to read the full report:

Motilal Oswal HUL Q3FY21 Result Update.pdf


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