- 29 Apr 2024
- ICICIdirect
HUL Q4 Results 2024: Net Profit falls, dividend declared
HINDUNILVR - 2336 Change: -13.90 (-0.59 %)
HUL reported its Q4FY24 numbers on Wednesday evening, 24th April . Earlier in the day, HUL's share price closed flat at Rs 2,260.25, down 0.11% on NSE. Let us look at HUL's March quarter numbers in detail.
About HUL
Hindustan Unilever Limited (HUL) is an Indian consumer goods company and a subsidiary of Unilever. It is one of the largest FMCG (Fast-Moving Consumer Goods) companies in India, offering a wide range of products. HUL has a significant presence in the Indian market and is known for its popular brands like Dove, Surf Excel, and Glow & Lovely.
Crucial parameters
- PE: 51.74
- 52 week high: 2768.50
- Market Cap: Rs 5,30,807 crore
- EPS(TTM): 10.72
Share price movement
In the last six months, HUL's share price has fallen 8.99% below the benchmark Nifty50. In the last one year, the stock price has fallen by nearly 10%. In the 5 years, the share price has given only 29% returns to investors, much below Nifty50 returns.
How has HUL performed in Q4FY24?
Let us look at HUL's March quarter results in detail:
Sales/Revenue: The company has reported flat numbers for the March quarter. The sales for the quarter ending March stood at Rs 14,693 crore, a percent growth from Q4FY23. Sequentially, sales fell from Rs 14,928 crore.
EBITDA: HUL's earnings before interest, taxes, depreciation, and amortization for Q4FY24 stood at Rs 3,435 crore, declining by a percent from Rs 3,471 crore in Q4FY23. Sequentially, EBITDA decreased from Rs 3,540 crore. The EBITDA margins reduced by 30 bps to 23.4% in Q4FY24 from 23.7% in Q4FY23.
Net Profit: The net profit reported by the company stood at Rs 2,406 crore for Q4FY24, down 6% from Rs 2,552 crore in Q4FY23.
Numbers across segments
Home Care saw a marginal growth in revenue with mid-single-digit in the quarter. The revenue increased from Rs 5,637 crore in Q4FY23 to Rs 5,709 crore in Q4FY24. Volumes grew in the mid-single digit led by outperformance in Vim liquid. Both categories continue to have negative price growth on account of pricing actions taken during the year.
Beauty & Personal Care segment's revenue fell in the March quarter compared with the same quarter from the previous financial year. Volume was driven by high-single digit growth led by strong performance in Dove and Tresemme. Innovations and future formats continue to lead growth.
Food & Refreshment revenue grew by a high single digit. Tea further strengthened value and volume market leadership. The category continued to witness consumers downgrading to loose tea. Coffee grew in double-digits driven by pricing.
Near-term outlook: FMCG demand to continue improving gradually. The company is optimistic about the mid-term impact of better monsoons and improving macro-economic indicators. Price growth to be low-single-digit negative if commodity prices remain where they are
Management commentary: Rohit Jawa, CEO, and Managing Director, ‘In FY24 we delivered a resilient performance with 3% USG and crossed the Rs 10,000 crores Net Profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators.'