Hindustan Unilever Q1 Results FY2023, PAT at Rs. 2289 crores

On 19th July 2022, Hindustan Unilever, India’s largest FMCG Company announced its quarterly results for the first quarter of FY2023

Q1FY23 Key Highlights:

- The company reported its revenue from operations at Rs. 14016 crores with a growth of 19.48% YoY

- The PBT for Q1FY23 was at Rs. 3086 crores seeing a growth of 17.2% YoY.

- Profit for the quarter was reported at Rs. 2289 crores with a growth of 11.06% YoY.

- During the quarter, the company’s turnover grew 19% with Underlying Volume Growth of 6%.

- The EBITDA margin was at 23.2% and remained healthy despite the unprecedented inflation in input costs.

Segment Highlights:

Home Care:

- Home Care delivered 30% growth driven by strong performance in Fabric Wash and Household Care. During the quarter Comfort Delicates was launched which is specially made for delicate clothes. Liquids and Fabric Sensations continued to outperform driven by effective market development actions. Calibrated price increases were taken across Fabric Wash and Household Care portfolios as input costs continue to inflate at significantly high levels.

Beauty and Personal care:

- Beauty and Personal care segment delivered strong growth of 17%.  During the quarter, Tresemme’s Hair Care range ‘Pro Pure’, Baby Dove Derma Protect Baby Wash, Vaselines’s summer range of body moisturizers, and Lakme’s Facial Foams were launched. Hair Care grew in high double-digits led by strong performance in the premium portfolio. Soaps delivered price-led double-digit growth driven by strong performance in Lux, Dove, and Pears. Skin Care and Color Cosmetics delivered strong YoY growth on a soft base. Premium portfolio in Skin Care performed well and is significantly ahead of pre-Covid levels.

Foods and Refreshments:

- Foods & Refreshment grew 9% driven by solid performance in Ice-cream, Coffee, and Food Solutions. Ice Cream had a very strong quarter broad-based across brands and formats making it significantly ahead of pre-COVID levels. Tea delivered steady performance and cemented its market leadership. Coffee had a strong quarter growing by double-digit. Health Food Drinks continued to gain market share and penetration on the back of focused market development actions. Foods grew in double-digits led by Jams. Unilever Food Solutions delivered a solid performance and continued to build its salience with professional chefs

Commenting on the results, Sanjiv Mehta, CEO and Managing Director said: ‘In an environment which remains challenging, marked by unprecedented inflation and consequential impact on consumption, we have delivered yet another quarter of robust topline and bottom-line performance. We have grown competitively whilst protecting our business model by maintaining margins in a healthy range. While there are near-term concerns around inflation, the recent softening of commodities, forecast of a normal monsoon, and monetary/ fiscal measures taken by the government augur well for the industry. We are confident of the medium to long-term prospects of the Indian FMCG sector and remain focused on delivering Consistent, Competitive, Profitable, and Responsible growth.”