HUL Q4 Results Review - Volume Growth Continues To Remain Muted: Dolat Capital

"NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Hindustan Unilever Ltd.’s core results came in-line with our estimates. Despite 2% volume growth, revenues declined 0.2% due to price pass-on. Going ahead, volume growth would lead to value growth due to less opportunity for price hikes. Gross margin expanded 320 basis points YoY due to softening commodity prices. However, 60/200/70 bps increase in employee cost/advertising and promotion/other expense resulted in Ebitda margin contraction of 20 bps (as estimated). Considering challenging demand conditions, we have revised our FY25/26E earnings per share estimates downward by 3.8/3.4% at Rs 46.9/52.6. Valuing the stock at 48 times FY26E EPS, arrive at target price of Rs 2,522. Considering the recent fall in the stock price we upgrade to Accumulate..Click on the attachment to read the full report:.HUL Q4 Results: Profit Down 6% At Rs 2,406 Crore, Higher Costs Hurt Margin.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

HUL Q4 Results Review - Volume Growth Continues To Remain Muted: Dolat Capital

Revenue and Ebitda came in-line; adjusted profit after tax missed

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HUL Q4 Results Review - Volume Growth Continues To Remain Muted: Dolat Capital

Revenue and Ebitda came in-line; adjusted profit after tax missed

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