In-line performance; expects better delivery in FY25

Company

25 Apr 2024 | 5 Min Read

Hindustan Unilever's 4QFY24 performance was in line with estimates.

Home care maintained mid-single-digit volume growth, while BPC and F&R posted flat volume growth.

Gross margin expanded by 320bp YoY to 52.3% in 4Q.

HUVR expects gradual recovery in volume growth in FY25.

Reiterate BUY rating on HUVR with a TP of INR2,900.

Distribution channels: 70% through GT, 20% through MT, 7% through e-commerce, and 3% through quick commerce.