 "Hindustan Uniliver, HUL")
Hindustan Unilever’s (HUL’s) performance for the quarter ended March 2023 (Q4FY24) was in line with modest consensus expectations. Net revenue was up 1 per cent year-on-year (Y-o-Y) with 2 per cent volume growth. Home care maintained single-digit volume growth Y-o-Y. Beauty & Personal Care (BPC) and Food & Refreshment (F&R) were flat in volume.
The premium portfolio growth across categories was healthy, but the mass portfolio was weak. Home care growth and margins (up 130 basis points Q-o-Q) beat expectations. BPC saw volume contraction in soaps (mass segment). Horlicks and Boost saw high single-digit growth, with volume and
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