BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Systematix Research Report
Hindustan Unilever Ltd.’s volume growth in Q1 FY22 was better than consensus and our estimates, driven by broad-based growth across key segments despite a challenging operating environment.
Additionally, rural-led recovery for the overall fast moving consumer goods sector should alleviate investor concerns over the severe impact of the second wave on rural markets.
Its nutrition portfolio, however, grew in mid-single digits despite a 1.4 times increase in direct coverage.
It gained market share in three-fourth of its portfolio with its premium range growing at two times the company’s average growth rate.
To mitigate the impact of raw material inflation, HUL took a sequential price hike of ~3% in Q1 FY22; the harvesting season of tea and palm oil has begun and its consequent effect on inflation remains a key monitorable.
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