HUL Q2 Review - Low Growth To Persist Near-Term; Margins To Remain In-Check; Maintain 'Hold': Systematix

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Research Report.Hindustan Unilever Ltd. delivered Q2 FY25 results slightly below our expectations, with volume growth of 3% YoY and nearly flat pricing, as management called out an urban growth slowdown not fully offset by a rural recovery. Growth was impacted by-volume declines in soaps and tea (nearly 1/4th of overall sales) as the company saw consumers downtrading,muted consumption in nutrition and mass skin products and low growth in foods. .However, better performances in detergents and dishwash (~37% of the portfolio, saw high-single digit volume growth supported by pricing normalizing), hair care, skin care and cosmetics (~20% of the portfolio, saw mid-single digit volume growth) and good growth in oral care limited the growth slowdown. Positively, management-called out a sequential increase in soaps’ sales in Q3, has intervened in nutrition drinks with launch of Rs 10 packs in Horlicks and Boost, andexpects tea downtrading to ease gradually. However, while it expects an overall stable demand trend near-term, it indicated no growth acceleration over H2 FY25..Click on the attachment to read the full report:.HUL Q2 Results Review - Miss On Volume; Core Portfolio Performs Well; Reiterate 'Buy': Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

HUL Q2 Review - Low Growth To Persist Near-Term; Margins To Remain In-Check; Maintain 'Hold': Systematix

The brokerage lower its FY25-FY27E revenue/ Ebitda estimates by 3%/4-5% to factor in company's lower topline growth and subdued margins.

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HUL Q2 Review - Low Growth To Persist Near-Term; Margins To Remain In-Check; Maintain 'Hold': Systematix

The brokerage lower its FY25-FY27E revenue/ Ebitda estimates by 3%/4-5% to factor in company's lower topline growth and subdued margins.

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