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For the
quarter ending Dec 2023, consolidated net sales (including other operating income) of Hindustan Unilever has declined 0.19% to Rs 15567 crore compared to quarter ended Dec 2022. Sales of Home Care segment has gone down 1.27% to Rs 5,444.00 crore (accounting for 34.97% of total sales). Sales of Personal Care segment has gone up 0.31% to Rs 5,782.00 crore (accounting for 37.14% of total sales). Sales of Foods segment rose 0.89% to Rs 3,733.00 crore (accounting for 23.98% of total sales). Sales of Others segment has gone down 1.78% to Rs 608.00 crore (accounting for 3.91% of total sales). Profit before interest, tax and other unallocable items (PBIT) has slumped 1.41% to Rs 3,353.00 crore. PBIT of Home Care segment fell 9.35% to Rs 989.00 crore (accounting for 29.50% of total PBIT). PBIT of Personal Care segment rose 1.17% to Rs 1,465.00 crore (accounting for 43.69% of total PBIT). PBIT of Foods segment rose 7.56% to Rs 711.00 crore (accounting for 21.20% of total PBIT). PBIT of Others segment fell 6.47% to Rs 188.00 crore (accounting for 5.61% of total PBIT). PBIT margin of Home Care segment fell from 19.79% to 18.17%. PBIT margin of Personal Care segment rose from 25.12% to 25.34%. PBIT margin of Foods segment rose from 17.86% to 19.05%. PBIT margin of Others segment fell from 32.47% to 30.92%. Overall PBIT margin fell from 21.81% to 21.54%. Operating profit margin has declined from 23.68% to 23.55%, leading to 0.76% decline in operating profit to Rs 3,666.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 32.83% to 31.85%. Purchase of finished goods cost fell from 18.00% to 16.90%. Employee cost decreased from 4.74% to 4.47%. Other expenses rose from 20.18% to 23.55%. Selling and administration expenses rose from 7.94% to 10.30%. Other income rose 94.55% to Rs 214 crore. PBIDT rose 2% to Rs 3880 crore. Provision for interest rose 213.79% to Rs 91 crore. PBDT rose 0.37% to Rs 3789 crore. Provision for depreciation rose 6.83% to Rs 313 crore. Profit before tax down 0.17% to Rs 3,476.00 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -30.00 crore. Provision for tax was expense of Rs 937 crore, compared to Rs 898 crore. Effective tax rate was 27.20% compared to 26.58%. Net profit attributable to owners of the company increased 1.41% to Rs 2,509.00 crore. Promoters’ stake was 61.90% as of 31 December 2023 ,compared to 61.90% as of 31 December 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Hindustan Unilever has increased 2.89% to Rs 46677 crore. Sales of Home Care segment has gone up 3.77% to Rs 16,173.00 crore (accounting for 34.64% of total sales). Sales of Beauty & Personal Care segment has gone up 3.33% to Rs 17,323.00 crore (accounting for 37.11% of total sales). Sales of Foods & Refreshment segment rose 2.70% to Rs 11,381.00 crore (accounting for 24.38% of total sales). Sales of Others segment has gone down 6.37% to Rs 1,809.00 crore (accounting for 3.87% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 5.17% to Rs 10,232.00 crore. PBIT of Home Care segment rose 6.16% to Rs 3,016.00 crore (accounting for 29.48% of total PBIT). PBIT of Beauty & Personal Care segment rose 5.53% to Rs 4,519.00 crore (accounting for 44.17% of total PBIT). PBIT of Foods & Refreshment segment rose 6.51% to Rs 2,112.00 crore (accounting for 20.64% of total PBIT). PBIT of Others segment fell 6.10% to Rs 585.00 crore (accounting for 5.72% of total PBIT). PBIT margin of Home Care segment rose from 18.23% to 18.65%. PBIT margin of Beauty & Personal Care segment rose from 25.54% to 26.09%. PBIT margin of Foods & Refreshment segment rose from 17.89% to 18.56%. PBIT margin of Others segment rose from 32.25% to 32.34%. Overall PBIT margin rose from 21.45% to 21.92%. Operating profit margin has jumped from 23.31% to 23.82%, leading to 5.14% rise in operating profit to Rs 11,119.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 33.65% to 31.32%. Purchase of finished goods cost fell from 19.31% to 16.99%. Employee cost increased from 4.65% to 4.66%. Other expenses rose from 19.14% to 23.26%. Selling and administration expenses rose from 7.91% to 10.42%. Other income rose 64.77% to Rs 580 crore. PBIDT rose 7.07% to Rs 11699 crore. Provision for interest rose 169.41% to Rs 229 crore. PBDT rose 5.79% to Rs 11470 crore. Provision for depreciation rose 5.91% to Rs 896 crore. Profit before tax grew 5.78% to Rs 10,574.00 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -72.00 crore. Provision for tax was expense of Rs 2786 crore, compared to Rs 2310 crore. Effective tax rate was 26.52% compared to 23.45%.Minority interest decreased 90.91% to Rs 2.00 crore. Net profit attributable to owners of the company increased 2.65% to Rs 7,719.00 crore. Promoters’ stake was 61.90% as of 31 December 2023 ,compared to 61.90% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of Hindustan Unilever has increased 15.51% to Rs 60580 crore. Sales of Home Care segment has gone up 28.08% to Rs 21,223.00 crore (accounting for 35.03% of total sales). Sales of Personal Care segment has gone up 12.55% to Rs 22,022.00 crore (accounting for 36.35% of total sales). Sales of Foods segment rose 5.47% to Rs 14,876.00 crore (accounting for 24.56% of total sales). Sales of Others segment has gone up 11.57% to Rs 2,459.00 crore (accounting for 4.06% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 10.59% to Rs 13,012.00 crore. PBIT of Home Care segment rose 22.93% to Rs 3,913.00 crore (accounting for 30.07% of total PBIT). PBIT of Personal Care segment rose 4.73% to Rs 5,647.00 crore (accounting for 43.40% of total PBIT). PBIT of Foods segment rose 1.49% to Rs 2,662.00 crore (accounting for 20.46% of total PBIT). PBIT of Others segment rose 39.08% to Rs 790.00 crore (accounting for 6.07% of total PBIT). PBIT margin of Home Care segment fell from 19.21% to 18.44%. PBIT margin of Personal Care segment fell from 27.56% to 25.64%. PBIT margin of Foods segment fell from 18.60% to 17.89%. PBIT margin of Others segment rose from 25.77% to 32.13%. Overall PBIT margin fell from 22.43% to 21.48%. Operating profit margin has declined from 24.51% to 23.36%, leading to 10.05% rise in operating profit to Rs 14,149.00 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 31.34% to 33.32%. Purchase of finished goods cost rose from 17.75% to 19.09%. Employee cost decreased from 4.85% to 4.71%. Other expenses fell from 21.55% to 19.55%. Selling and administration expenses fell from 9.04% to 8.09%. Other income rose 98.45% to Rs 512 crore. PBIDT rose 11.79% to Rs 14661 crore. Provision for interest rose 7.55% to Rs 114 crore. Loan funds rose to Rs 1,219.00 crore as of 31 March 2023 from Rs 1,043.00 crore as of 31 March 2022. Inventories rose to Rs 4,251.00 crore as of 31 March 2023 from Rs 4,096.00 crore as of 31 March 2022. Sundry debtors were higher at Rs 3,079.00 crore as of 31 March 2023 compared to Rs 2,236.00 crore as of 31 March 2022. Cash and bank balance rose to Rs 4,678.00 crore as of 31 March 2023 from Rs 3,846.00 crore as of 31 March 2022. Investments declined from Rs 3,521.00 crore as of 31 March 2022 to Rs 2,813.00 crore as of 31 March 2023. PBDT rose 11.82% to Rs 14547 crore. Provision for depreciation rose 4.22% to Rs 1137 crore. Fixed assets increased to Rs 36,413.00 crore as of 31 March 2023 from Rs 7,482.00 crore as of 31 March 2022. Intangible assets declined from Rs 45,304.00 crore to Rs 17,466.00 crore. Profit before tax grew 12.52% to Rs 13,410.00 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs -64.00 crore. Provision for tax was expense of Rs 3201 crore, compared to Rs 2987 crore. Effective tax rate was 23.99% compared to 25.16%. Minority interest increased 76.92% to Rs 23.00 crore. Net profit attributable to owners of the company increased 14.05% to Rs 10,121.00 crore. Equity capital stood at Rs 235.00 crore as of 31 March 2023 to Rs 235.00 crore as of 31 March 2022. Per share face Value remained same at Rs 1.00. Promoters’ stake was 61.90% as of 31 March 2023 ,compared to 61.90% as of 31 March 2022 . Cash flow from operating activities increased to Rs 9,991.00 crore for year ended March 2023 from Rs 9,048.00 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 1,192.00 crore, compared to Rs 1,228.00 crore during the year ended March 2022. Other
Highlights
In Q3 FY24, company delivered volume
growth of 2% YoY. Management reported that operating environment was challenging
during the quarter due to uneven monsoon, delayed winter and subdued festive
season.
Company acquired 27.73% stake in the equity share capital of
Transition Sustainable Energy Services One.
Management Comments :
Rohit Jawa, CEO and Managing Director commented: “HUL has
delivered another quarter of resilient performance with strong operating
fundamentals amidst a challenging operating environment. Our focus on providing
the right consumer value, excellence in execution, increased investments behind
brands and capabilities, premiumisation and market development continues to
serve us well. Looking forward we expect gradual recovery in market demand to
continue aided by increased Government spending, recovery in winter crop sowing
and better crop realization. Rural income growths and winter crop yields are
key factors that will determine the pace of recovery. In this context, our
focus remains on driving competitive volume growth whilst stepping up
investment behind our brands and long-term strategic priorities. We remain
confident of the mid to long term potential of Indian FMCG sector and HUL
remains well positioned to unlock this opportunity whilst navigating the
short-term challenges.”
| Hindustan Unilever : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 15,567.00 | 15,597.00 | -0.19 | 46,677.00 | 45,365.00 | 2.89 | 60,580.00 | 52,446.00 | 15.51 | | OPM (%) | 23.55 | 23.68 | -13 bps | 23.82 | 23.31 | 51 bps | 23.36 | 24.51 | -116 bps | | OP | 3,666.00 | 3,694.00 | -0.76 | 11,119.00 | 10,575.00 | 5.14 | 14,149.00 | 12,857.00 | 10.05 | | Other Inc. | 214.00 | 110.00 | 94.55 | 580.00 | 352.00 | 64.77 | 512.00 | 258.00 | 98.45 | | PBIDT | 3,880.00 | 3,804.00 | 2.00 | 11,699.00 | 10,927.00 | 7.07 | 14,661.00 | 13,115.00 | 11.79 | | Interest | 91.00 | 29.00 | 213.79 | 229.00 | 85.00 | 169.41 | 114.00 | 106.00 | 7.55 | | PBDT | 3,789.00 | 3,775.00 | 0.37 | 11,470.00 | 10,842.00 | 5.79 | 14,547.00 | 13,009.00 | 11.82 | | Depreciation | 313 | 293 | 6.83 | 896 | 846 | 5.91 | 1137 | 1091 | 4.22 | | PBT | 3,476.00 | 3,482.00 | -0.17 | 10574 | 9996 | 5.78 | 13410 | 11918 | 12.52 | | Share of Profit/(Loss) from Associates | -1 | 0 | - | 5 | 0 | - | -1 | 0 | - | | PBT before EO | 3475 | 3482 | -0.20 | 10579 | 9996 | 5.83 | 13409 | 11918 | 12.51 | | EO Income | -30 | -103 | 70.87 | -72 | -144 | 50.00 | -64 | -44 | -45.45 | | PBT after EO | 3445 | 3379 | 1.95 | 10507 | 9852 | 6.65 | 13345 | 11874 | 12.39 | | Taxation | 937 | 898 | 4.34 | 2786 | 2310 | 20.61 | 3201 | 2987 | 7.16 | | PAT | 2508 | 2481 | 1.09 | 7721 | 7542 | 2.37 | 10144 | 8887 | 14.14 | | Minority Interest (MI) | -1 | 7 | LP | 2 | 22 | -90.91 | 23 | 13 | 76.92 | | Net profit | 2509 | 2474 | 1.41 | 7719 | 7520 | 2.65 | 10121 | 8874 | 14.05 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | -1 | 5 | PL | | Net profit after discontinued operations | 2509 | 2474 | 1.41 | 7719 | 7520 | 2.65 | 10120 | 8879 | 13.98 | | EPS (Rs)* | 10.77 | 10.85 | -0.73 | 33.08 | 32.47 | 1.86 | 43.28 | 37.91 | 14.18 | | | * 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 |
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| Hindustan Unilever : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
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| Sales | | Home Care | 34.97 | 5,444.00 | 5,514.00 | -1.27 | 34.64 | 16,173.00 | 15,586.00 | 3.77 | 35.03 | 21,223.00 | 16,570.00 | 28.08 | | Personal Care | 37.14 | 5,782.00 | 5,764.00 | 0.31 | 37.11 | 17,323.00 | 16,765.00 | 3.33 | 36.35 | 22,022.00 | 19,567.00 | 12.55 | | Foods | 23.98 | 3,733.00 | 3,700.00 | 0.89 | 24.38 | 11,381.00 | 11,082.00 | 2.70 | 24.56 | 14,876.00 | 14,105.00 | 5.47 | | Refreshments | 0.00 | 0.00 | 0.00 | - | | Others | 3.91 | 608.00 | 619.00 | -1.78 | 3.87 | 1,809.00 | 1,932.00 | -6.37 | 4.06 | 2,459.00 | 2,204.00 | 11.57 | | Total Reported Sales | 100.00 | 15,567.00 | 15,597.00 | -0.19 | 100.00 | 46,686.00 | 45,365.00 | 2.91 | 100.00 | 60,580.00 | 52,446.00 | 15.51 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 15,567.00 | 15,597.00 | -0.19 | 100.00 | 46,686.00 | 45,365.00 | 2.91 | 100.00 | 60,580.00 | 52,446.00 | 15.51 | | PBIT | | Home Care | 29.50 | 989.00 | 1,091.00 | -9.35 | 29.48 | 3,016.00 | 2,841.00 | 6.16 | 30.07 | 3,913.00 | 3,183.00 | 22.93 | | Personal Care | 43.69 | 1,465.00 | 1,448.00 | 1.17 | 44.17 | 4,519.00 | 4,282.00 | 5.53 | 43.40 | 5,647.00 | 5,392.00 | 4.73 | | Foods | 21.20 | 711.00 | 661.00 | 7.56 | 20.64 | 2,112.00 | 1,983.00 | 6.51 | 20.46 | 2,662.00 | 2,623.00 | 1.49 | | Refreshments | 0.00 | 0.00 | 0.00 | - | | Others | 5.61 | 188.00 | 201.00 | -6.47 | 5.72 | 585.00 | 623.00 | -6.10 | 6.07 | 790.00 | 568.00 | 39.08 | | Total PBIT | 100.00 | 3,353.00 | 3,401.00 | -1.41 | 100.00 | 10,232.00 | 9,729.00 | 5.17 | 100.00 | 13,012.00 | 11,766.00 | 10.59 | | Less : Interest | | 91.00 | 29.00 | 213.79 | | 229.00 | 85.00 | 169.41 | | 114.00 | 106.00 | 7.55 | | Add: Other un-allcoable | | 183.00 | 7.00 | 2,514.29 | | 504.00 | 208.00 | 142.31 | | 447.00 | 214.00 | 108.88 | | PBIT Margin(%) | | Home Care | | 18.17 | 19.79 | -161.92 | | 18.65 | 18.23 | 42.05 | | 18.44 | 19.21 | -77.19 | | Personal Care | | 25.34 | 25.12 | 21.58 | | 26.09 | 25.54 | 54.54 | | 25.64 | 27.56 | -191.41 | | Foods | | 19.05 | 17.86 | 118.15 | | 18.56 | 17.89 | 66.34 | | 17.89 | 18.60 | -70.16 | | Refreshments | | 0.00 | 0.00 | 0.00 | | Others | | 30.92 | 32.47 | -155.07 | | 32.34 | 32.25 | 9.19 | | 32.13 | 25.77 | 635.56 | | PBT | 100.00 | 3,445.00 | 3,379.00 | 1.95 | 100.00 | 10,507.00 | 9,852.00 | 6.65 | 100.00 | 13,345.00 | 11,874.00 | 12.39 |
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