HUL Q4 Review - Revival In Discretionary Categories: Dolat Capital
Bottles of Hindustan Unilever Ltd. Dove shampoo, right, are displayed at a store in Mumbai, India. (Photographer: Kuni Takahashi/Bloomberg)

HUL Q4 Review - Revival In Discretionary Categories: Dolat Capital

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.

Dolat Capital Report

Hindustan Unilever Ltd.'s results came ahead of our estimate as the core business registered 21% sales growth with 16% underlying volume growth.

The beauty and personal care business reported 19.7% growth, exhibiting a strong recovery on a favourable base.

The segment benefited from a strong sequential recovery in the discretionary categories.

Despite the increase in raw material, lower brand investment and improved operating efficiencies helped expansion in Ebitda margin.

We believe that the brand investments would increase hereon to support volume growth.

Click on the attachment to read the full report:

Dolat Capital Hindustan Unilever Q4FY21 Result Update.pdf

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