HUL Q4 Review - Innovations-Led Growth Ahead: Prabhudas Lilladher
Packets of Hindustan Unilever Ltd. Surf Excel Easy Wash detergent powder at a store in Mumbai, India.  (Photographer Dhiraj Singh/Bloomberg)

HUL Q4 Review - Innovations-Led Growth Ahead: Prabhudas Lilladher

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.

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:

  1. 87% of business has been gaining penetration and 82% reported share gains.

  2. Health, hygiene and nutrition (80% of business) continues to witness healthy growth and recovery.

  3. Integration with GlaxoSmithKline Consumer Healthcare Ltd. will be over in H1 FY22 providing synergies to flow through.

  4. Gains from strategies like 'win in many Indias' and Shikhar will drive distribution led gains.

Click on the attachment to read the full report:

Prabhudas Lilladher HUL Q4FY21 Result Update.pdf

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