HUL Q4 Review - Innovations-Led Growth Ahead: Prabhudas Lilladher
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Prabhudas Lilladher Report
Hindustan Unilever Ltd. Q4 numbers displayed strong beat on volumes front across segments and categories, while margins were aided by certain one offs in a highly inflationary environment.
We continue to remain constructive on the company given:
87% of business has been gaining penetration and 82% reported share gains.
Health, hygiene and nutrition (80% of business) continues to witness healthy growth and recovery.
Integration with GlaxoSmithKline Consumer Healthcare Ltd. will be over in H1 FY22 providing synergies to flow through.
Gains from strategies like 'win in many Indias' and Shikhar will drive distribution led gains.
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