HUL Q4 Review - Strong All-Round Recovery In Topline: IDBI Capital
Packets of Hindustan Unilever Ltd. Horlicks powder drinks at a store in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

HUL Q4 Review - Strong All-Round Recovery In Topline: IDBI 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.

IDBI Capital Report

Hindustan Unilever Ltd.'s Q4 FY21 results was above our estimates.

Revenue on comparable basis, grew 21% year-on-year (up 16% YoY volume growth) driven by continued double-digit growth momentum in health, hygiene and nutrition portfolio.

Gross margin declined for the fourth consecutive quarter due to raw material cost inflation.

Inflation in palm oil price has been alarming (40-50% YoY) however; the company has taken approximately 7-8% price hike to offset the same.

As per our channel check, the company has taken 13-20% hike in select stock keeping units of key brands; Lifebuoy, Rexona, Liril, etc.

Positively, the company has launched Rs 2 sachets in Horlicks and Boost brand to drive market development and penetration in health food drinks category.

Click on the attachment to read the full report:

IDBI Capital HUL Q4FY21 Result Review.pdf


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