{"id":155122,"date":"2023-10-20T06:40:38","date_gmt":"2023-10-20T10:40:38","guid":{"rendered":"https:\/\/44.250.171.167\/?p=155122"},"modified":"2023-10-20T06:41:32","modified_gmt":"2023-10-20T10:41:32","slug":"hindustan-unilever-ltd-q2-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/hindustan-unilever-ltd-q2-fy24-earnings-conference-call-insights\/","title":{"rendered":"Hindustan Unilever Ltd Q2 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Hindustan Unilever Ltd (HINDUNILVR) Q2 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Q2 Performance<\/strong>\n<ul>\n<li>HUL crossed INR 15,000 crores quarterly turnover for the first time.<\/li>\n<li>Underlying sales growth was 4% with volume growth around 2.5%.<\/li>\n<li>EBITDA margin improved 130 bps to 24.6% year-on-year.<\/li>\n<li>PAT before exceptional items grew 12% and EPS grew 4%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Market Share Trends and Focus Areas<\/strong>\n<ul>\n<li>Gained share in over 60% of business by value.<\/li>\n<li>Continues to gain volume share in over 75% of business.<\/li>\n<li>Some losses in value shares in mass segments of portfolio.<\/li>\n<li>Grow core brands through product superiority and execution.<\/li>\n<li>Transform parts of portfolio through on-trend spaces in Beauty and Foods.<\/li>\n<li>Execution and tailoring portfolio through design for channel approach.<\/li>\n<li>Reset cost base through net revenue management programs.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Macro Environment<\/strong>\n<ul>\n<li>Demand trends stable, market growing high single digits.<\/li>\n<li>Rural demand remains subdued, urban and modern trade leading.<\/li>\n<li>Price growth moderating as input costs have declined.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Skin Care And Color Cosmetics Growth<\/strong>\n<ul>\n<li>Double-digit growth driven by brands like Ponds, Lakme, and Indulekha.<\/li>\n<li>Extending brands into new growth spaces like sun care and serums.<\/li>\n<li>Innovating in formats like face washes with Simple.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Focused Interventions In New Demand Spaces<\/strong>\n<ul>\n<li>Targeting new formats like serums and masks that are growing fast.<\/li>\n<li>Entering new spaces like hydration and sun protection.<\/li>\n<li>Leveraging channels like e-commerce for growth.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Rural Demand<\/strong>\n<ul>\n<li>Rural volume growth improved to 8% this quarter vs -6% last year, but still below pre-pandemic levels.<\/li>\n<li>Inflation moderating leading to more disposable income and FMCG expenditure in rural areas.<\/li>\n<li>Uneven monsoon and its potential impact on kharif harvest and rabi sowing are risks.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Resurgence Of Small\/Local Players<\/strong>\n<ul>\n<li>Seen in categories like detergent bars and tea as commodity prices softened.<\/li>\n<li>Small players growing faster than larger players.<\/li>\n<li>HUL over indexed in premium segments, so mass segment growth impacts overall value growth.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tea Business Performance<\/strong>\n<ul>\n<li>Saw downgrading trend from premium tea to mass\/loose tea.<\/li>\n<li>Loose tea prices fell more than premium tea prices.<\/li>\n<li>Led consumers to switch to cheaper loose tea options.<\/li>\n<li>Impacts HUL more as premium tea player.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Volume Growth Outlook And Pricing Actions<\/strong>\n<ul>\n<li>Gradual recovery in volumes expected as high inflation moderates.<\/li>\n<li>Supporting factors: Inflation moderating, upcoming festive season, resilient urban income growth.<\/li>\n<li>Taken price cuts in skin cleansing and laundry categories this quarter.<\/li>\n<li>Expect marginally negative price growth in near term if costs remain stable.<\/li>\n<\/ul>\n<\/li>\n<li><strong>A&amp;P Spending<\/strong>\n<ul>\n<li>Currently at 11.4% of sales versus 7.2% last year.<\/li>\n<li>Principles: Share of voice ahead of market share, frequency and reach objectives.<\/li>\n<li>Will remain firm given competitive intensity and support growth.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Hindustan Unilever Ltd (HINDUNILVR) Q2 FY24 Earnings Concall Q2 Performance HUL crossed INR 15,000 crores quarterly turnover for the first time. Underlying sales growth was 4% with volume growth around 2.5%. EBITDA margin improved 130 bps to 24.6% year-on-year. PAT before exceptional items grew 12% and EPS grew 4%. Market Share Trends [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,6351,392],"tags":[952,10169],"class_list":["post-155122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-consumer-stocks","category-earnings","tag-consumer-goods","tag-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":171758,"url":"https:\/\/alphastreet.com\/india\/hindustan-unilever-q2-fy26-earnings-results\/","url_meta":{"origin":155122,"position":0},"title":"Hindustan Unilever Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"October 23, 2025","format":false,"excerpt":"Hindustan Unilever Ltd is a leading FMCG company operating primarily in Home Care, Beauty & Personal Care, and Foods & Refreshment segments with manufacturing facilities across India. Q2 FY26 Earnings Summary Consolidated revenue rose 1.98% year on year to \u20b916,241 crore from \u20b915,926 crore. Total expenses increased 3.3% to \u20b913,002\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HU.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HU.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HU.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HU.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HU.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HU.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":131325,"url":"https:\/\/alphastreet.com\/india\/hindustan-unilever-ltd-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":155122,"position":1},"title":"Hindustan Unilever Ltd Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"July 20, 2022","format":false,"excerpt":"https:\/\/youtu.be\/tkNJhtsitL8 Key highlights from Hindustan Unilever Ltd (HINDUNILVR) Q1 FY23 Earnings Concall Management Update: HINDUNILVR said that COGS will be higher in September quarter as price versus cost gap widens. However added that the company will continue to extensively drive productivity improvement in its business and take calibrated pricing action.\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":149478,"url":"https:\/\/alphastreet.com\/india\/hindustan-unilever-ltd-q1-fy24-7-rise-in-profits\/","url_meta":{"origin":155122,"position":2},"title":"Hindustan Unilever Ltd Q1 FY24; 7% rise in Profits","author":"Hardik Bhandare","date":"July 20, 2023","format":false,"excerpt":"Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care and Foods & Refreshment segments. The Company has manufacturing facilities across the country and sells primarily in India. Financial Results: Hindustan Unilever Ltd reported Revenues for Q1FY24 of \u20b915,496.00 Crores up from \u20b914,624.00 Crore\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-99.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-99.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-99.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-99.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-99.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-99.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":128671,"url":"https:\/\/alphastreet.com\/india\/hindustan-unilever-ltd-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":155122,"position":3},"title":"Hindustan Unilever Ltd Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"April 28, 2022","format":false,"excerpt":"https:\/\/youtu.be\/SwNF7m1fYG4 Key highlights from Hindustan Unilever Ltd (HINDUNILVR) Q4 FY22 Earnings Concall Management Update: HINDUNILVR reported that the company crossed the INR50,000 crore turnover mark in FY22. HINDUNILVR said it expects near-term operating environment to remain challenging. The company added that its margins will decline in short-term as price versus\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":126029,"url":"https:\/\/alphastreet.com\/india\/infographic-hindustan-unilevers-performance-in-q2-2022\/","url_meta":{"origin":155122,"position":4},"title":"Infographic: Hindustan Unilever&#8217;s performance in Q2 2022","author":"Nishad","date":"December 1, 2021","format":false,"excerpt":"FMCG giant Hindustan Unilever Limited(NSE: HINDUNILVR) reported its second-quarter 2022 earnings. The company posted consolidated revenue of \u20b913,099 crores with a growth of 11% year on year. Hindustan Unilever had a net profit of \u20b92,185 crores or \u20b99.27 per share compared to \u20b91,974 or \u20b98.40 per share in the same\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/12\/Hindustan-UnileverQ222-.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/12\/Hindustan-UnileverQ222-.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/12\/Hindustan-UnileverQ222-.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/12\/Hindustan-UnileverQ222-.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/12\/Hindustan-UnileverQ222-.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":169698,"url":"https:\/\/alphastreet.com\/india\/hindustan-unilever-q1-fy26-navigating-rural-revival-and-digital-first-premium-push\/","url_meta":{"origin":155122,"position":5},"title":"Hindustan Unilever Q1 FY26: Navigating Rural Revival and Digital-First Premium Push","author":"Divyansh_Kasana","date":"August 3, 2025","format":false,"excerpt":"Executive Summary of Q1 FY26 Hindustan Unilever Limited (HUL), India\u2019s FMCG powerhouse, delivered a solid Q1 FY26 marked by steady volume growth, deliberate margin reinvestment, and a continued push into premium and digital-first categories. Despite facing a mixed demand environment, steady urban consumptions alongside a rural revival, the company balanced\u2026","rel":"","context":"In &quot;AlphaCall&quot;","block_context":{"text":"AlphaCall","link":"https:\/\/alphastreet.com\/india\/category\/alphacall\/"},"img":{"alt_text":"HINDUNILVR Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/XyeWVPVHI7g-HD.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/XyeWVPVHI7g-HD.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/XyeWVPVHI7g-HD.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/XyeWVPVHI7g-HD.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/XyeWVPVHI7g-HD.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/155122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=155122"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/155122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/154818"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=155122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=155122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=155122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}