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