Second wave of pandemic brings HUL’s volumes back to square one

second wave of pandemic brings huls volumes back to square one

Sumary of Second wave of pandemic brings HUL’s volumes back to square one:

  • Analysts now typically look at the two-year average annual growth number to negate the impact of last year’s low base.
  • By this measure, HUL’s volumes were flat, as like-for-like growth stood at 9% in Q1FY22 and -8% in the year-ago period.
  • In Q4FY21, the two-year average annual growth number stood at around 5%.
  • View Full ImageSatish Kumar/Mint “HUL saw good demand momentum in March, which was sustained in April.
  • “Trade promotions were normalized during the quarter from a low base last year, which impacted pricing growth.
  • This meant the pricing growth came in below expectations at 3%,” said Himanshu Nayyar, lead analyst, institutional equities, YES Securities.
  • Besides, the GSK-led nutrition segment delivered a below-than-expected performance, as the pandemic has delayed HUL’s plans of developing this portfolio, Nayyar added.
  • Among the segments, the home care business has performed well, posting revenue growth of 12% year-on-year (y-o-y), helped by double-digit growth in fabric wash.

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