HULin its result said that its growth in the quarter was competitive and profitable with Domestic Consumer Growth of 11% and Profit After Tax (PAT) growth of 17%.
- While its Home Care segment grew at 23%, Beauty & Personal Care grew 7% led by Skin Cleansing, Skin Care and Colour Cosmetics. Meanwhile, Foods & Refreshment grew 3% on a very high prior year comparator, driven by solid performance in Tea and Ice-creams.
"Growth in the quarter was competitive and profitable with Domestic Consumer Growth of 11% and Profit After Tax (PAT) growth of 17%. Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying Volume Growth at 2% was significantly ahead of the market," its report stated.
Its Home Care segment witnessed a growth at 23% and was broad based with strong performance in Fabric Wash and Household Care. Fabric Wash grew in strong double-digits with all parts of the portfolio performing well. Household Care sustained its robust performance and grew in high teens on a strong base. Liquids and Fabric Sensations continue to outperform driven by effective market development actions. Calibrated price increases were taken across Fabric Wash and Household Care portfolios to partly offset the significant inflation in input costs.
Its Beauty & Personal Care segment grew 7% led by Skin Cleansing, Skin Care and Colour Cosmetics. Skin Cleansing delivered double digit growth driven by strong performance in ‘Lux’, ‘Dove’ and ‘Pears’. Hair Care had a steady quarter enabled by strong performance in premium portfolio. Its brands ‘Clinic Plus’, ‘Dove’ and ‘Sunsilk’ were rated as the top 3 Hair Care brands in the country as per ‘Kantar Brand Health Check Report’. "A calibrated approach towards price increase in Skin Cleansing and Hair Care has helped protect our business model even as vegetable oils continue to inflate at record levels. Together, Skin Care and Colour Cosmetics delivered double-digit growth and are above pre-COVID levels. During this quarter, we had several innovations including ‘
HUL's Foods & Refreshment segment grew 3% on a very high prior year comparator, driven by solid performance in Tea and Ice-creams. Tea continued its robust performance and grew competitively on a strong base delivering high teens 2Y CAGR. Focus on market development actions in Health Food Drinks resulted in handsome market share and penetration gains. Ice Creams had a very strong quarter delivering 2Y CAGR in high teens enabled by impactful innovations and effective activations. Foods grew on a strong base led by Jams and Ketchup. ‘Kissan Peanut Butter’ and ‘Hellman’s Mayonnaise’ innovations continue to perform well. ‘Bru’ launched a new product ‘
Its EBITDA margin at 25.4% improved 100 bps YoY. PAT at Rs. 2,243 Crores increased by 17% year-on-year. Profit after tax before exceptional items at Rs 2,292 Crores was up 17%. "In the context of unprecedented inflation, we continue to manage our business dynamically driving savings harder across all lines of P&L and taking calibrated pricing actions using the principles of Net Revenue Management. We continue to invest competitively behind our brands," the report stated.
Commenting on the results,
In the near-term, operating environment will continue to remain challenging. In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long term potential of Indian