Hindustan Unilever Ltd. share price target

Continued strong demand in Rural areas supported by decent urban demand recovery improves the outlook of the business in near-term. Despite uncertainty arising due to increase in COVID cases, we believe the company is well-placed in terms of demand planning & supply chain management. Therefore, we maintain our BUY rating on the stock with a target price of Rs. 2,710 based on 58x FY23E adj. EPS. Strong recovery in BPC, HC drives revenue growth HUVR's revenue grew by 34.6% YoY (+2.3% QoQ) to Rs. 12,132cr, supported by...

(accounting for 30.87% of total sales). Sales of Beauty & Personal Care segment has gone up GSKCH business, which was amalgamated with the company effective April 1, 2020. Sales of Others segment has gone up 112% to Rs 507.00 crore (accounting for 4.08% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 52% to Rs 2,777.00...

Though HUL saw strong growth momentum till the second week of April, second wave of Covid-19 started to impact discretionary categories again after localised lockdowns. We believe soaps, sanitisers & foods categories would continue to see robust growth in FY22E also with heightened hygiene preferences & increase in at-home consumption. Detergent, cosmetics &...

We believe, over the medium to long term HUL is poised to deliver a consistent and profitable volume led growth given execution, distribution and digital capabilities.

Hindustan Unilever (HUVR) 4QFY21 result was above our estimates. Revenue on comparable basis, grew 21%YoY (+16%YoY volume growth) driven by continued doubledigit growth momentum in health, hygiene and nutrition portfolio. Gross margin declined for the fourth consecutive quarter due to raw material cost inflation. Inflation in palm oil price has been alarming (40-50%YoY) however; HUL has taken c. 7-8% price hike to offset the same. As per our channel check, HUL has taken 13-20% hike in select SKUs of key brands; Lifebuoy, Rexona, Liril etc. Positively, HUL has launched Rs2 sachets in Horlicks and Boost brand to drive market development and penetration in HFD category. During current pandemic, HUL is better prepared compared to last crisis. As on...

Hindustan Unilever (HUVR) reported a good set of numbers on all fronts in 4QFY21, led by a recovery in its Discretionary portfolio and Detergents. Two-year average like-to-like sales growth has now improved to 5.8% in 4QFY21 from minor decline in 1QFY21. Ongoing lockdowns would result in a temporary impact on high-margin discretionary product sales, leading to a 4.3% EPS reduction in FY22E; we have retained our FY23E forecasts. We continue to monitor the situation as it unfurls. HUVR is likely to resume the strong earnings growth path from the preCOVID era (~18% CAGR in the four years ended FY20), led by the same...

HUL is India's largest fast-moving consumer goods company with well-renowned household products.Maintain buy with a TP of Rs 2,550.

On a consolidated basis, the FMCG major's net profit rose 18.8% to Rs 1938 crore on 20.57% rise in revenue from operations to Rs 12,181 crore in Q3 FY21 over Q3 FY20. The FMCG major's profit before tax rose 16.46% year-on-year to Rs 2,596 crore in Q3 FY21. EBITDA grew by...

HUL reported moderate 4% volume growth in Q3FY21 due to muted demand in the detergent category. Revenue grew by 21% YoY (7% organic) to `11,682 cr led by the consolidation of new brands (Horlicks and Boost)....