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Revenue
₹15,707 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
HUL reported Q1 FY25 revenue of INR 15,166 crore with 4% underlying volume growth, while underlying sales growth was 2% due to negative pricing. EBITDA margin improved 20 bps YoY to 23.8%, and PAT grew 3% to INR 2,538 crore. Volume growth was led by Home Care (high single-digit) and Hair Care (double-digit), while Personal Care saw low single-digit volume recovery after pricing actions. Management highlighted green shoots in rural demand but remains cautious on monsoon and food inflation. Guidance: near-zero pricing in short term, low single-digit positive by year-end; EBITDA margins to be maintained at current levels in near term, with modest expansion in medium term via mix improvement and operating leverage. Risk: tea inflation and potential impact on margins if commodity prices rise.
Colored figures show movement against the previous available record.
Guidance to track
- Excluding one-off credit in Q2 FY24 base, intrinsic price growth expected near zero in short term, turning low single-digit positive by year-end.
- Management expects to maintain current EBITDA margin levels (~23.8%) in the near term, with modest expansion in medium term.
- Medium-term margin expansion driven by premiumization (300 bps improvement in premium mix over 3 years) and operating leverage from volume growth.
- MAT business winning metric expected to return to 60% levels by end of calendar year, with last 3-month metric already at ~55%.
Risks flagged
- Tea prices are currently inflationary due to harsh summer impacting produce; full impact depends on monsoon season.
- Despite green shoots, rural growth on a 2-year CAGR still lags urban; employment, real wages, and food inflation could delay recovery.
- Analyst raised concern about competitive activity in beauty; management acknowledged intense competition but expressed confidence in portfolio transformation.
- If commodity prices rise, especially palm oil, margins could be impacted despite Stratos technology providing some insulation.
Key quotes
- We continue to hold on to most of the circa 200 basis points of market share gain that we gained during inflation.
- Stratos is a first of its kind, groundbreaking technology developed and patented by our R&D team. This technology, that took us about 5 years to develop with 20+ patents filed, makes it possible to reformulate soap with a proprietary mix...
- Our last three-month metric is already at circa 55% levels, providing compelling evidence that our strategic actions are driving the desired results for us.
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