Prabhudas Lilladher’s analysis address on Hindustan Unilever
2Q19 achievement remained able-bodied 4th after division of bifold chiffre aggregate advance (10% UVG) and 23.1% Adj. PAT growth, abiding appeal scenario, accustomed monsoons and abiding bifold chiffre advance in Home care. HUL is able-bodied placed to accretion from Premiumisation in Home Care, success in naturals with Lever Ayush, Indulekha etc., able advance in arising categories (premium laundry, duke wash, Liquid bowl wash, Hair conditioner, Face-wash and Green tea) and assets from accumulation chain, abstracts analytics and able account management. Rising awkward oil prices, depreciating INR and aggressive accomplishments in baddest categories affectation a abreast appellation challenge, although continued appellation angle charcoal intact.
We amount the banal at 46xDec20 EPS and access at ambition amount of Rs1703. Retain Hold.
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