HUL's food business shrinks to 3% of FY17 revenue

At Rs 1,035 cr in FY17, the size of foods was down 49% over FY16, according to its annual report

The food business of Hindustan Unilever (HUL), the country’s largest consumer goods company, shrank sharply during the last financial year.

According to HUL’s latest annual report for the financial year 2016-17 (FY17), the company's food business was down to 3% of net revenue (Rs 34,487 crore), compared to 6.6% in 2015-16 (FY16). HUL’s FY16 net revenue stood at Rs 31,987 crore. In absolute terms, this works out to Rs 1,035 crore in FY17 versus Rs 2,111 crore a year ago, a drop of 49.02% over the year-ago period.

While the Kissan brand maintained its leadership position in ketchups and jams,