Hindustan Unilever on Thursday reported its fiscal fourth quarter net profit at Rs 2,561 crore, up 8.5% on-year, meeting analyst estimates. A CNBC TV18 poll of analysts had expected HUL Q4FY23 net profit at Rs 2,580 crore. The FMCG major posted a revenue of Rs 15,215 crore for the quarter, up 10.5 per cent on-year. HUL also approved a final dividend of Rs 22 for the financial year ended March 2023 on equity shares of Re 1 per share. It had earlier in November 2022 paid an interim dividend of Rs 17 per share. “The total dividend for the said period amounts to Rs 39 per equity share of face value of Re 1 each,” it said.
HUL performance across business segments
For the full financial year 2022-23, Hindustan Unilever recorded a turnover of Rs 58,154 crore, up 16 per cent on-year. In home care, HUL stated that while revenue grew by 28 per cent during the financial year, volumes grew close to double-digits. The year saw growth of the premium portfolio more in comparison to the rest of the portfolio. “Surf Excel became the first Home & Personal Care brand in India to cross US$ 1 billion in turnover and home care liquids crossed Rs 3,000 crore turnover led by effective market development actions,” HUL said.
In the beauty and personal care segment, revenue grew by 12 per cent for the entire year and volumes grew in the low single digit. Lux and Pond’s crossed Rs 2,000 crore turnover each, which took a total of five brands in the category in the club now, HUL said. The company also launched three new brands in the premium beauty segment and also forayed into health & wellbeing with strategic investments in Oziva and Wellbeing Nutrition.
In the Foods and Refreshment category, HUL recorded 5 per cent revenue growth for the year, driven by ice cream, coffee and foods, even as volumes grew in low single digit. HUL’s key innovation for the financial year included Horlicks Millets, Kissan Hazelnut Choco Peanut Butter, Knorr Korean Meal Pots and de-seasonalising ice cream, the company said.
“Looking forward, the near-term operating environment is likely to remain volatile. With inflation easing due to lapping of high base and sequential softening in a few commodities, price and volume growths will rebalance. Market volumes will recover gradually as consumption habits readjust,” Sanjiv Mehta concluded.