HUL - Staples Remains Resilient With A Recovery In Discretionary: Motilal Oswal 
HUL detergent brand Surf Excel at a supermarket in Mumbai. (Photographer. Santosh Verma/Bloomberg News.)

HUL - Staples Remains Resilient With A Recovery In Discretionary: Motilal Oswal 

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.

Motilal Oswal Report

We interacted with the management of Hindustan Unilever Ltd. for an update on overall market conditions. Here are the key takeaways:

The decline has been much slower in sales of discretionary categories (skin care, cosmetics, deodorants, approximately 15% of portfolio) and out of home, Pureit and ice creams (5% of the portfolio) both of which had a decline of 25% YoY in Q2 FY21.

There was a slight tapering in growth in health, hygiene and nutrition (80% of portfolio) which had grown by 10% YoY in Q2 FY21.

Detergents was the only category where some growth was expected but did not materialize yet which is now expected in the Q4 FY21.

Click on the attachment to read the full report:

Motilal Oswal HUL Company Update.pdf

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