HUL Q2 Results Review - Miss On Volume; Core Portfolio Performs Well; Reiterate 'Buy': Motilal Oswal

Despite weakness in overall consumption, the brokerage believes the company can still see an upward growth trajectory,

HUL products. (Photo: BQ Prime)

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Motilal Oswal Report

Hindustan Unilever Ltd.’s Q2 FY25 revenue was up 2% at Rs 157.3 billion (in line), with underlying growth of 3%. Volume growth of 3% was below our estimate of 5% (4% in Q1 FY25).

Demand trends remained stable, with moderate growth in urban areas and a stable recovery in rural regions.

Home Care maintained high-single-digit volume growth and 8% revenue growth, led by both Fabric Wash and Household Care. Beauty and Wellbeing segment clocked mid-single digit volume growth, with underlying growth of 7% (reported 2%).

Hair Care portfolio reported high single-digit volume growth and premium portfolio clocked strong double-digit growth.

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Motilal Oswal HUL Q2FY25 Results Review.pdf
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Also Read: HUL Q2 Results: Profit Drops Amid Urban Demand Softness; Price Hikes Likely

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