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Hindustan Unilever Q2FY22: Cautiously optimistic

Integration with GSK portfolio almost complete; investors need to watch out for growth in the nutrition category

October 20, 2021 / 01:15 PM IST
Hindustan Unilever Q2FY22: Cautiously optimistic

Hindustan Unilever saw significant input cost inflation in the fabric wash segment, and, in order to mitigate the impact on margins, took calibrated price increases. (Representative image)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The September quarter results of Hindustan Unilever (HUL; CMP: Rs 2,546; Market Capitalisation: Rs 5,98,312 crore) were in line with Street expectations. More than 75 per cent of the company’s product portfolio saw higher penetration and market share gain. Despite very high commodity prices, HUL was able to improve its margins on the back of better product mix, calibrated price increases and cost-saving initiatives. However, the HUL management remains cautiously optimistic for the near term. September 2021 quarter results Revenues grew...

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