Hindustan Unilever Q2 Results FY2023, PAT at Rs. 2670 crores

On 21st October 2022, Hindustan Unilever announced its second quarter results for the period ending 30th September 2022. 

Q2FY23 Performance updates:

-  Total sales at Rs 14,896 crores grew by 16% during the quarter.
- EBITDA for the quarter at Rs. 3,479 crores, grew by 8%. EBITDA margin at 23.4 % declined by 180 bps.
- Profit after tax for the quarter at Rs. 2,670 crores, grew by 22%
- HUL delivered a strong performance in the quarter with Turnover growth of 16% and Underlying Volume Growth of 4%. Growth was significantly ahead of the market with more than 75% of the business winning value and volume market shares

Business Highlights:

- Home Care delivered 34% growth with volumes growing in double-digit. Both Fabric Wash and Household Care grew in high double-digits with all parts of the portfolio performing well. Liquid Detergents and Fabric Sensations continued to outperform driven by effective market development actions.
- Beauty & Personal Care grew 11% driven by outperformance in the premium portfolio. Skin Cleansing delivered strong double-digit growth led by Beauty and Premium brands viz. Lux, Dove, and Pears. Hair Care further strengthened its market leadership with strong broad-based performance. 
- Foods & Refreshment grew 4% driven by solid performance in Foods, Coffee, and Ice-cream. Foods delivered strong double-digit growth with volumes growing in the mid-teens, led by Jams and Unilever Food Solutions business. Ice Cream had another strong quarter with double-digit growth on a very high base led by robust performance across brands and formats

Commenting on the results, Sanjiv Mehta, CEO and Managing Director said: “Building on our strong momentum we have delivered yet another quarter of solid all-round performance. In H1 2022-23 we have added an incremental turnover of more than Rs. 4,000 crores. Our consistent performance is reflective of our strategic clarity, strength of our brands, operational excellence, and dynamic financial management. We continue to make excellent progress on our ‘Reimagine HUL’ agenda launching two new digital brands, reaching the milestone of 1 million Shikhar outlets and our manufacturing site at Dapada becoming the first in India to be recognized as Sustainability Lighthouse by the World Economic Forum. Demand environment remains challenging with inflation impacting consumption. However, with softening in some commodities and monetary/ fiscal measures taken by the government, we are cautiously optimistic in the near-term. In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long term potential of Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth.” 

The Board of Directors declared an interim dividend of Rs. 17 /- per equity share of face value of Re.1/- each for FY 2023.
 

Hindustan Unilever share price dropped by 2.6%.