BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Hindustan Unilver Ltd.'s Q2 FY21 result was better with our estimates.
Overall business recovers sharply from down 7% YoY revenue growth in Q1 FY21 to up 3% YoY in Q2 FY21.
Outperformance of health, hygiene and nutrition portfolio (approximately 80% revenue share, up 10% YoY) helped offset approximately 25% YoY decline in revenue from discretionary and out-of-home portfolio.
Inflationary raw material cost lead to the decline in gross margins however rationalization of advertisement spending helped Ebitda margin to expand marginally.
Rural growth remains resilient while urban continues to face Covid-19 headwinds.
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