Hindustan Unilever Ltd (HUL) said on April 27 that it had a Rs 50,000 crore turnover in the previous fiscal year, making it the first pure FMCG company to do so.
“In challenging circumstances, we have grown competitively and protected our business model by maintaining margins in a healthy range. I am pleased that we have become a Rs 50,000 crore turnover company in this fiscal,” HUL CEO and Managing Director Sanjiv Mehta stated.
The company’s financial results for the quarter and year ended March 31 were revealed. The profit after tax for the fourth quarter increased by 8.6% year on year to Rs 2,327 crore. During the same period, revenue increased by 11% to Rs 13,462 crore, compared to the previous fiscal’s corresponding quarter.
The earnings for the complete fiscal year from April 2021 to March 2022 increased by 10.9 percent to Rs 8,818 crore, up from Rs 7,954 crore the previous year. The total revenue for the year climbed by 11.3 percent to Rs 51,193 crore, up from Rs 45,996 crore in FY21. The company’s profit and revenue were better than analyst expectations.
“Our consistent performance is reflective of our strategic clarity, the strength of our brands, operational excellence, and dynamic financial management of our business,” Mehta shared.
“While there are near-term concerns around significant inflation and slowing market growth, we are confident of the medium to long term prospects of the Indian FMCG sector and remain focused on delivering a consistent, competitive, profitable and responsible growth,” he further continued.
HUL (Hindustan Unilever Limited) is an Indian consumer goods corporation based in Mumbai. It is a subsidiary of the British business Unilever. Foods, beverages, cleaning agents, personal care items, water purifiers, and other fast-moving consumer goods are among its offerings.
Surf, launched 60 years ago, posted last year’s (2020) revenue of Rs 5,375 crore with a market share of 17.9 percent, said industry managers citing data from Nielsen. It accounted for approximately 14 percent of the company’s net income and 45 percent of its sales in the laundry segment.
Solely Surf in 2018 went ahead of the mass-market Wheel brand that had historically dominated HUL’s portfolio in the laundry product segment.