For quarter ending June 2024, consolidated Net sales (including other operating income) of Hindustan Unilever has increased 1.36% to Rs 15707 crore compared to quarter ended June 2023. Sales of Home Care segment has gone up 4.65% to Rs 5,673.00 crore (accounting for 36.12% of total sales).  Sales of Personal Care segment has gone down 0.02% to Rs 5,667.00 crore (accounting for 36.08% of total sales).  Sales of Foods segment rose 1.40% to Rs 3,850.00 crore (accounting for 24.51% of total sales).  Sales of Others segment has gone down 15.25% to Rs 517.00 crore (accounting for 3.29% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 1.07% to Rs 3,415.00 crore.  PBIT of Home Care segment rose 12.14% to Rs 1,136.00 crore (accounting for 33.27% of total PBIT).  PBIT of Personal Care segment fell 3.13% to Rs 1,426.00 crore (accounting for 41.76% of total PBIT).  PBIT of Foods segment rose 8.08% to Rs 736.00 crore (accounting for 21.55% of total PBIT).  PBIT of Others segment fell 45.07% to Rs 117.00 crore (accounting for 3.43% of total PBIT).  

PBIT margin of Home Care segment rose from 18.69% to 20.02%.  PBIT margin of Personal Care segment fell from 25.97% to 25.16%.  PBIT margin of Foods segment rose from 17.94% to 19.12%.  PBIT margin of Others segment fell from 34.92% to 22.63%.  Overall PBIT margin fell from 21.81% to 21.74%.  

Operating profit margin has jumped from 23.65% to 23.84%, leading to 2.16% rise in operating profit to Rs 3,744.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 31.54% to 30.92%.   Purchase of finished goods cost rose from 17.30% to 17.31%.   Employee cost decreased from 4.61% to 4.16%.   Other expenses rose from 22.56% to 23.86%.   Selling and administration expenses rose from 9.85% to 10.66%.   

Other income rose 40.44% to Rs 257 crore.  PBIDT rose 3.98% to Rs 4001 crore.  Provision for interest rose 86% to Rs 93 crore.  

PBDT rose 2.90% to Rs 3908 crore.  Provision for depreciation rose 15.03% to Rs 329 crore.  

Profit before tax grew 1.91% to Rs 3,579.00 crore.  Share of profit/loss was 100% lower at Rs -2 crore.  Extraordinary items were decreased to Rs -48.00 crore.  Provision for tax was expense of Rs 917 crore, compared to Rs 918 crore.  Effective tax rate was 25.98% compared to 26.42%.

Net profit attributable to owners of the company increased 2.19% to Rs 2,610.00 crore.  

Promoters’ stake was 61.90% as of 30 June 2024 ,compared to 61.90% as of 30 June 2023 .  

Full year results analysis.

Net sales (including other operating income) of Hindustan Unilever has increased 2.17% to Rs 61896 crore.  Sales of Home Care segment has gone up 3.11% to Rs 21,882.00 crore (accounting for 35.35% of total sales).  Sales of Personal Care segment has gone up 1.93% to Rs 22,448.00 crore (accounting for 36.27% of total sales).  Sales of Foods segment rose 2.79% to Rs 15,291.00 crore (accounting for 24.70% of total sales).  Sales of Others segment has gone down 7.48% to Rs 2,275.00 crore (accounting for 3.68% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 3.34% to Rs 13,447.00 crore.  PBIT of Home Care segment rose 5.47% to Rs 4,127.00 crore (accounting for 30.69% of total PBIT).  PBIT of Personal Care segment rose 2.89% to Rs 5,810.00 crore (accounting for 43.21% of total PBIT).  PBIT of Foods segment rose 7.10% to Rs 2,851.00 crore (accounting for 21.20% of total PBIT).  PBIT of Others segment fell 16.58% to Rs 659.00 crore (accounting for 4.90% of total PBIT).  

PBIT margin of Home Care segment rose from 18.44% to 18.86%.  PBIT margin of Personal Care segment rose from 25.64% to 25.88%.  PBIT margin of Foods segment rose from 17.89% to 18.64%.  PBIT margin of Others segment fell from 32.13% to 28.97%.  Overall PBIT margin rose from 21.48% to 21.73%.  

Operating profit margin has jumped from 23.35% to 23.69%, leading to 3.64% rise in operating profit to Rs 14,663.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 33.32% to 31.11%.   Purchase of finished goods cost fell from 19.09% to 16.98%.   Employee cost increased from 4.71% to 4.86%.   Other expenses rose from 19.56% to 23.36%.   Selling and administration expenses rose from 8.09% to 10.48%.   

Other income rose 58.40% to Rs 811 crore.  PBIDT rose 5.55% to Rs 15474 crore.  Provision for interest rose 192.98% to Rs 334 crore.  Loan funds rose to Rs 1,484.00 crore as of 31 March 2024 from Rs 1,219.00 crore as of 31 March 2023.  Inventories declined from Rs 4,251.00 crore as of 31 March 2023 to Rs 4,022.00 crore as of 31 March 2024.  Sundry debtors were lower at Rs 2,997.00 crore as of 31 March 2024 compared to Rs 3,079.00 crore as of 31 March 2023.  Cash and bank balance rose to Rs 7,559.00 crore as of 31 March 2024 from Rs 4,678.00 crore as of 31 March 2023.  Investments rose to Rs 4,625.00 crore as of 31 March 2024 from Rs 2,882.00 crore as of 31 March 2023 .  

PBDT rose 4.08% to Rs 15140 crore.  Provision for depreciation rose 6.95% to Rs 1216 crore.  Fixed assets declined from Rs 36,344.00 crore as of 31 March 2023 to Rs 9,056.00 crore as of 31 March 2024.  Intangible assets increased from Rs 17,466.00 crore to Rs 45,713.00 crore.  

Profit before tax grew 3.84% to Rs 13,924.00 crore.  Share of profit/loss was 300% lower at Rs -4 crore.  Provision for tax was expense of Rs 3644 crore, compared to Rs 3201 crore.  Effective tax rate was 26.17% compared to 23.99%.

Minority interest decreased 78.26% to Rs 5.00 crore.  Net profit attributable to owners of the company increased 1.55% to Rs 10,277.00 crore.  

Equity capital stood at Rs 235.00 crore as of 31 March 2024 to Rs 235.00 crore as of 31 March 2023.  Per share face Value remained same at Rs 1.00.  

Promoters’ stake was 61.90% as of 31 March 2024 ,compared to 61.90% as of 31 March 2023 .  

Cash flow from operating activities increased to Rs 15,469.00 crore for year ended March 2024 from Rs 9,991.00 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 1,477.00 crore, compared to Rs 1,192.00 crore during the year ended March 2023.  

Other Highlights

In Q1 FY25, the company delivered underlying volume growth of 4% YoY.

Management Comments :
Rohit Jawa, CEO and Managing Director commented: “HUL’s first quarter performance reflects our decisive actions of transforming our portfolio in high growth spaces aided by gradual recovery of rural markets. Our commitment to unlocking access to aspiration, market making & premiumization supported by our distinctive capabilities is a key driver of our competitive edge. We continue to focus on driving competitive volume growth, generating fuel to invest behind our brands and making our business future fit. We remain confident of the medium to long term potential of Indian FMCG sector. With our strong brands, execution prowess and distribution might, HUL is well positioned to leverage this growth opportunity as we continue transforming our business to outperform.”

Hindustan Unilever : Consolidated Results

Quarter ended Year ended Particulars 202406 202306 Var.(%) 202403 202303 Var.(%) Net Sales (including other operating income) 15,707.00 15,496.00 1.36 61,896.00 60,580.00 2.17 OPM (%) 23.84 23.65 19 bps 23.69 23.35 34 bps OP 3,744.00 3,665.00 2.16 14,663.00 14,148.00 3.64 Other Inc. 257.00 183.00 40.44 811.00 512.00 58.40 PBIDT 4,001.00 3,848.00 3.98 15,474.00 14,660.00 5.55 Interest 93.00 50.00 86.00 334.00 114.00 192.98 PBDT 3,908.00 3,798.00 2.90 15,140.00 14,546.00 4.08 Depreciation 329 286 15.03 1216 1137 6.95 PBT 3,579.00 3,512.00 1.91 13924 13409 3.84 Share of Profit/(Loss) from Associates -2 -1 -100.00 -4 -1 -300.00 PBT before EO 3577 3511 1.88 13920 13408 3.82 EO Income -48 -37 -29.73 6 -64 LP PBT after EO 3529 3474 1.58 13926 13344 4.36 Taxation 917 918 -0.11 3644 3201 13.84 PAT 2612 2556 2.19 10282 10143 1.37 Minority Interest (MI) 2 2 0 5 23 -78.26 Net profit 2610 2554 2.19 10277 10120 1.55 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 2610 2554 2.19 10277 10120 1.55 EPS (Rs)* 11.26 10.99 2.49 43.72 43.28 1.02 * EPS is on current equity of Rs 234.96 crore, Face value of Rs 1, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Hindustan Unilever : Consolidated Segment Results

Quarter ended Year ended % of (Total) 202406 202306 Var.(%) % of (Total) 202403 202303 Var.(%) Sales Home Care 36.12 5,673.00 5,421.00 4.65 35.35 21,882.00 21,223.00 3.11 Personal Care 36.08 5,667.00 5,668.00 -0.02 36.27 22,448.00 22,022.00 1.93 Foods 24.51 3,850.00 3,797.00 1.40 24.70 15,291.00 14,876.00 2.79 Refreshments 0.00 0.00 0.00 - Others 3.29 517.00 610.00 -15.25 3.68 2,275.00 2,459.00 -7.48 Total Reported Sales 100.00 15,707.00 15,496.00 1.36 100.00 61,896.00 60,580.00 2.17 Less: Inter segment revenues   0.00 0.00 -   0.00 0.00 - Net Sales 100.00 15,707.00 15,496.00 1.36 100.00 61,896.00 60,580.00 2.17 PBIT Home Care 33.27 1,136.00 1,013.00 12.14 30.69 4,127.00 3,913.00 5.47 Personal Care 41.76 1,426.00 1,472.00 -3.13 43.21 5,810.00 5,647.00 2.89 Foods 21.55 736.00 681.00 8.08 21.20 2,851.00 2,662.00 7.10 Refreshments 0.00 0.00 0.00 - Others 3.43 117.00 213.00 -45.07 4.90 659.00 790.00 -16.58 Total PBIT 100.00 3,415.00 3,379.00 1.07 100.00 13,447.00 13,012.00 3.34 Less : Interest 93.00 50.00 86.00 334.00 114.00 192.98 Add: Other un-allcoable 207.00 145.00 42.76 813.00 447.00 81.88 PBIT Margin(%) Home Care   20.02 18.69 133.81   18.86 18.44 42.27 Personal Care   25.16 25.97 -80.71   25.88 25.64 23.95 Foods   19.12 17.94 118.17   18.64 17.89 75.04 Refreshments   0.00 0.00 0.00 Others   22.63 34.92 -1,228.75   28.97 32.13 -315.98 PBT 100.00 3,529.00 3,474.00 1.58 100.00 13,926.00 13,345.00 4.35