Hindustan Unilever Ltd

Revenue from operations rose marginally to Rs 14,693 crore in Q4 FY24 as against Rs 14,638 crore posted in Q4 FY23.

Hindustan Unilever (HUL) delivered underlying sales growth (USG) of 1% and underlying volume growth (UVG) of 2% in the quarter ended 31 March 2024.

Profit after tax before exceptional items (PAT bei) stood at Rs 2,396 crore in the March quarter, down 3% from Rs 2,471 crore posted in Q4 FY23.

EBITDA declined marginally to Rs 3,435 crore in Q4 FY24 as against Rs 3,471 crore reported in Q4 FY23. EBITDA margin reduced to 23.4% in Q4 FY24, down 30 bps, primarily on account of 60 bps impact from termination of GSK consignment selling arrangement and investments in long term capabilities.

During the quarter, Home Care grew 1% with mid-single digit UVG. Both fabric wash and household care grew volumes in mid-single digit driven by strong performance in premium portfolio. The category continued to witness YoY price decline on account of actions taken during the year, said HUL.

The FMCG company stated that its Beauty & Personal Care business continued to witness premium portfolio growing ahead of the rest. Overall, the segment had a USG of negative 2% with flat volumes. Hair care delivered volume driven high-single digit growth led by outperformance in Dove and Tresemme.

Skin care and colour cosmetics grew in low-single digit. Premium skin care continued its strong double-digit growth trajectory led by innovations in new demand spaces and formats. Skin cleansing declined due to impact of price cuts coupled with drop in volumes in the mass and popular segments while bodywash continued to do well. Oral care saw a double-digit broad based growth driven by pricing, it added.

Foods & Refreshment had a USG of 4% with flat volume growth. Functional nutritional drinks (Horlicks & Boost) delivered high-single digit growth driven by Plus range. Tea continued to strengthen value and volume market leadership. Category continued to witness consumers downgrading to loose tea. Coffee delivered double digit growth driven by pricing. Foods grew in mid-single digit led by strong performance in Soups and Food solutions, HUL stated in the press release.

In Q4 FY24, gross margin improved 350 bps YoY. The company continued to focus on building back its gross margins through improved price coverage, mix and net productivity initiatives. Advertising & Promotion (A&P) investments increased 200 bps as the firm continued to step up investments behind its brands.

On full year basis, the company’s net profit rose 1.52% to Rs 10,114 crore on 2.45% increase in revenue to Rs 59,579 crore in FY24 over FY23.

Rohit Jawa, CEO and managing director, said, “In FY’24 we delivered a resilient performance with 3% USG and crossed Rs 10,000 crores net profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators.”

Meanwhile, the company's board has recommended a final dividend of Rs 24 per share for the financial year ended 31 March 2024, subject to approval of shareholders at the AGM.

Hindustan Unilever is India's largest fast moving consumer goods company.

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Hindustan Unilever announced that the 91th Annual General Meeting (AGM) of the company will be held on 21 June 2024.

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The Board of Hindustan Unilever at its meeting held on 24 April 2024 has approved the proposal for entering into/continuation of Material Related Party Transactions/contracts/arrangements/agreements with PT. Unilever Oleochemical Indonesia, a wholly owned subsidiary of Unilever PLC and a fellow subsidiary of the Company, for a period of 3 years commencing from F.Y. 2024-25 to F.Y. 2026-27, individually and/ or in the aggregate up to an amount not exceeding Rs. 3,000 crores in a financial year. The proposal is subject to approval of the Shareholders at the ensuing AGM

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The Board of Hindustan Unilever at its meeting held on 24 April 2024 has approved the appointment of BP Biddappa (DIN: 06586886), presently Global Chief Human Resource Officer, Home Care business, as Whole-time Director of the Company with effect from 1 June 2024 up to 31 May 2029.

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Revenue from operations rose marginally to Rs 14,693 crore in Q4 FY24 as against Rs 14,638 crore reported in Q4 FY23.

Hindustan Unilever (HUL) delivered underlying sales growth (USG) of 1% and underlying volume growth (UVG) of 2% in the quarter ended 31 March 2024.

Profit after tax before exceptional items (PAT bei) stood at Rs 2,396 crore in the March quarter, down 3% from Rs 2,471 crore posted in Q4 FY23.

EBITDA declined marginally to Rs 3,435 crore in Q4 FY24 as against Rs 3,471 crore reported in Q4 FY23. EBITDA margin reduced to 23.4% in Q4 FY24, down 30 bps, primarily on account of 60 bps impact from termination of GSK consignment selling arrangement and investments in long term capabilities.

During the quarter, Home Care grew 1% with mid-single digit UVG. Both fabric wash and household care grew volumes in mid-single digit driven by strong performance in premium portfolio. The category continued to witness YoY price decline on account of actions taken during the year, said HUL.

The FMCG company stated that its Beauty & Personal Care business continued to witness premium portfolio growing ahead of the rest. Overall, the segment had a USG of negative 2% with flat volumes. Hair care delivered volume driven high-single digit growth led by outperformance in Dove and Tresemme.

Skin care and colour cosmetics grew in low-single digit. Premium skin care continued its strong double-digit growth trajectory led by innovations in new demand spaces and formats. Skin cleansing declined due to impact of price cuts coupled with drop in volumes in the mass and popular segments while bodywash continued to do well. Oral care saw a double-digit broad based growth driven by pricing, it added.

Foods & Refreshment had a USG of 4% with flat volume growth. Functional nutritional drinks (Horlicks & Boost) delivered high-single digit growth driven by Plus range. Tea continued to strengthen value and volume market leadership. Category continued to witness consumers downgrading to loose tea. Coffee delivered double digit growth driven by pricing. Foods grew in mid-single digit led by strong performance in Soups and Food solutions, HUL stated in the press release.

In Q4 FY24, gross margin improved 350 bps YoY. The company continued to focus on building back its gross margins through improved price coverage, mix and net productivity initiatives. Advertising & Promotion (A&P) investments increased 200 bps as the firm continued to step up investments behind its brands.

On full year basis, the company’s net profit rose 1.52% to Rs 10,114 crore on 2.45% increase in revenue to Rs 59,579 crore in FY24 over FY23.

Rohit Jawa, CEO and managing director, said, “In FY’24 we delivered a resilient performance with 3% USG and crossed Rs 10,000 crores net profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators.”

Meanwhile, the company's board has recommended a final dividend of Rs 24 per share for the financial year ended 31 March 2024, subject to approval of shareholders at the AGM.

Hindustan Unilever is India's largest fast moving consumer goods company.

Shares of Hindustan Unilever shed 0.16% to settle at Rs 2,259.15 on the BSE.

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Net profit of Hindustan Unilever declined 1.62% to Rs 2558.00 crore in the quarter ended March 2024 as against Rs 2600.00 crore during the previous quarter ended March 2023. Sales rose 0.59% to Rs 15041.00 crore in the quarter ended March 2024 as against Rs 14953.00 crore during the previous quarter ended March 2023.

For the full year,net profit rose 1.55% to Rs 10277.00 crore in the year ended March 2024 as against Rs 10120.00 crore during the previous year ended March 2023. Sales rose 2.38% to Rs 60966.00 crore in the year ended March 2024 as against Rs 59549.00 crore during the previous year ended March 2023.

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Hindustan Unilever announced that the Board of Directors of the Company at its meeting held on 24 April 2024, has recommended a Final dividend of Rs.24 per share (i.e.2400%), subject to the approval of the shareholders.

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Hindustan Unilever Ltd gained for a third straight session today. The stock is quoting at Rs 2268.8, up 1.22% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.29% on the day, quoting at 22402.05. The Sensex is at 73858.28, up 0.28%. Hindustan Unilever Ltd has risen around 1.29% in last one month.

Meanwhile, Nifty FMCG index of which Hindustan Unilever Ltd is a constituent, has risen around 0.4% in last one month and is currently quoting at 53499.45, up 0.75% on the day. The volume in the stock stood at 7.52 lakh shares today, compared to the daily average of 22.66 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 2272.1, up 1.26% on the day. Hindustan Unilever Ltd is down 9.24% in last one year as compared to a 26.26% spurt in NIFTY and a 14.83% spurt in the Nifty FMCG index.

The PE of the stock is 51.39 based on TTM earnings ending December 23.

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Hindustan Unilever will hold a meeting of the Board of Directors of the Company on 24 April 2024.

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Revenue from operations stood at Rs 14,928 crore in Q3 FY24 as against Rs 14,986 crore reported in the same period a year ago.

Hindustan Unilever (HUL) delivered underlying volume growth (UVG) of 2% in Q3 FY24, due to the impact of price reductions.

Profit after tax before exceptional items (PAT bei) was at Rs 2,541 crore in the third quarter of FY24, declining 2% from Rs 2,581 crore posted in Q3 FY23.

During the quarter, EBITDA was at Rs 3,540 crore from Rs 3,537 crore posted in Q3 FY24. EBITDA margin improved to 23.7% in Q3 FY24, up 10 bps as compared to 23.6% recorded in the corresponding quarter previous year.

HUL said that its Home Care and Beauty & Personal Care which constitutes about 75% of its business continues to see volume recovery and had mid-single digit UVG. Foods & refreshment, on the other hand, saw a low-single digit decline in UVG primarily due to pricing taken in the year to offset impact of higher commodity cost, it added.

The company’s Home Care business saw a marginal decline in revenue with mid-single digit UVG in the quarter. However, on a 2-year CAGR basis, the business delivered a strong double-digit growth of 14% with high single digit UVG. Fabric Wash volumes grew in mid-single digit YoY driven by outperformance in premium portfolio. Household care volumes grew in low single digit led by Dishwash.

Beauty & Personal Care revenue remained flat with mid-single digit UVG. Skin cleansing revenue declined due to the impact of price reductions taken to pass on the benefits of lower commodity costs to consumers. Market development actions in bodywash continue to yield good results. While delayed winter impacted Skin Care performance in the quarter, premium non-winter portfolio continued to do well, added the firm.

Hair Care delivered volume led double-digit growth with broad based performance across brands and future formats continuing to gain traction. Oral Care grew mid-single digit led by Closeup.

Foods & Refreshment revenue grew 1% during the period under review.

Gross margin and A&P investments increased 400 bps and 270 bps respectively versus December quarter FY22.HUL stated that it continues to manage its business dynamically by ensuring right price-value equation and investing competitively behind our brands and long-term capabilities.

In nine month ended December 2023, HUL's net profit rose 4.02% to Rs 7,708 crore on 3.15% increase in turnover to Rs 44,886 crore.

Rohit Jawa, CEO and managing director commented, ‘HUL has delivered another quarter of resilient performance with strong operating fundamentals amidst a challenging operating environment. Our focus on providing the right consumer value, excellence in execution, increased investments behind brands and capabilities, premiumisation and market development continues to serve us well.

Looking forward we expect gradual recovery in market demand to continue aided by increased Government spending, recovery in winter crop sowing and better crop realization. Rural income growths and winter crop yields are key factors that will determine the pace of recovery. In this context, our focus remains on driving competitive volume growth whilst stepping up investment behind our brands and long-term strategic priorities. We remain confident of the mid to long term potential of Indian FMCG sector and HUL remains well positioned to unlock this opportunity whilst navigating the short-term challenges.”

Hindustan Unilever is India's largest fast moving consumer goods company.

Shares of Hindustan Unilever slipped 3.05% to Rs 2,486.45 on the BSE.

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