Hindustan Unilever

₹2339.3 27.1 | 1.2%

WEBSITE BSE:500696 NSE : HIND UNI LT 04 Jul, 15:57

Market Cap ₹549640 Cr.

Stock P/E 51.5

P/B 11.1

Current Price ₹2339.3

Book Value ₹ 210.2

Face Value 1

52W High ₹3034.5

Dividend Yield 2.27%

52W Low ₹ 2136

Edit Ratio

Hindustan Unilever Research see more...

Hindustan Unilever Limited: Strong market presence and linkages with Unilever Plc should support growth

EQUITY RESEARCH: HINDUSTAN UNILEVER LIMITED

Hindustan Unilever Limited

Overview Inc. Year: 1933Industry: Household & Personal Products

Hindustan Unilever Limited is an primarily India-based customer goods organization. The Company's segments are Home care, which includes detergent bars, detergent powders, detergent liquids, scourers, water enterprise and purifiers enterprise; Beauty & Personal Care, which includes merchandise in the categories of oral care, pores and skin care, soaps, hair care, deodorants, talcum powder, coloration cosmetics and salon services; Foods & Refreshment, which includes staples, culinary merchandise, tea, coffee, fitness meals liquids, ice-cream and frozen cakes, and Others, which includes exports and child care products. The Company's portfolio consists of household manufacturers, along with Lux, Lifebuoy, Surf excel, Rin, Wheel, Glow & Lovely, Pond's, Vaseline, Lakme, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall's, Horlicks and Pureit.

Hindustan Unilever Share Price

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Peer Comparison

Hindustan Unilever Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	15597	15215	15496	15623	15567	15210	15707	15926	15818	15670
Other Income	110	160	183	183	214	231	257	219	232	309
Total Income	15707	15375	15679	15806	15781	15441	15964	16145	16050	15979
Total Expenditure	11903	11642	11831	11826	11901	11675	11963	12133	12123	12051
Operating Profit	3804	3733	3848	3980	3880	3766	4001	4012	3927	3928
Interest	29	29	50	88	91	105	93	110	112	80
Depreciation	293	291	286	297	313	320	329	338	341	347
Exceptional Income / Expenses	-103	80	-37	-5	-30	78	-48	-16	507	-138
Profit Before Tax	3379	3493	3475	3590	3446	3419	3531	3548	3981	3363
Provision for Tax	898	891	918	931	937	858	917	947	993	887
Profit After Tax	2481	2602	2557	2659	2509	2561	2614	2601	2988	2476
Adjustments	-7	-2	-3	-3	0	-3	-4	-10	-4	-12
Profit After Adjustments	2474	2600	2554	2656	2509	2558	2610	2591	2984	2464
Adjusted Earnings Per Share	10.5	11.1	10.9	11.3	10.7	10.9	11.1	11	12.7	10.5

Hindustan Unilever Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Net Sales	31972	32186	33162	35545	39310	39783	47028	52446	60580	61896	63121	63121
Other Income	570	426	369	384	550	632	410	258	512	811	1017	1017
Total Income	32542	32612	33531	35929	39860	40415	47438	52704	61092	62707	64138	64138
Total Expenditure	26562	26169	26822	28046	30430	29922	35402	39589	46431	47233	48270	48270
Operating Profit	5980	6443	6709	7883	9430	10493	12036	13115	14661	15474	15868	15868
Interest	18	17	35	26	33	118	117	106	114	334	395	395
Depreciation	322	353	432	520	565	1002	1074	1091	1138	1216	1355	1355
Exceptional Income / Expenses	679	-31	237	-33	-228	-200	-239	-44	-64	6	305	305
Profit Before Tax	6320	6033	6479	7304	8604	9173	10606	11874	13344	13926	14415	14423
Provision for Tax	1944	1875	1977	2079	2544	2409	2606	2987	3201	3644	3744	3744
Profit After Tax	4376	4158	4502	5225	6060	6764	8000	8887	10143	10282	10671	10679
Adjustments	-12	-19	-26	-11	-6	-16	-5	-8	-23	-5	-22	-30
Profit After Adjustments	4363	4139	4476	5214	6054	6748	7995	8879	10120	10277	10649	10649
Adjusted Earnings Per Share	20.2	19.2	20.7	24.1	28	31.2	34	37.8	43.1	43.7	45.3	45.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	2%	6%	10%	7%
Operating Profit CAGR	3%	7%	9%	10%
PAT CAGR	4%	6%	10%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-6%	-1%	2%	10%
ROE Average	21%	21%	22%	56%
ROCE Average	29%	28%	30%	77%

Hindustan Unilever Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Shareholder's Funds	4027	6573	6744	7281	7867	8229	47674	49061	50304	51218	49402
Minority's Interest	25	20	22	20	18	17	20	26	218	205	207
Borrowings	7	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	969	966	1056	1372	1704	2306	9943	10139	10527	14187	13717
Total Current Liabilities	9202	7067	7714	8887	8667	9317	11103	11280	12028	12879	16537
Total Liabilities	14230	14626	15536	17560	18256	19869	68740	70506	73077	78489	79863
Fixed Assets	2821	3258	4419	4528	4715	5479	51443	51473	52678	53744	54335
Other Non-Current Assets	1428	1023	945	1372	1627	2069	3080	3511	3401	3421	3477
Total Current Assets	9972	10323	10125	11644	11910	12303	14200	15509	16986	21312	22028
Total Assets	14230	14626	15536	17560	18256	19869	68740	70506	73077	78489	79863

Hindustan Unilever Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Opening Cash & Cash Equivalents	845	805	830	628	649	621	3216	1842	1147	701	812
Cash Flow from Operating Activities	3292	4171	5185	6059	5800	7623	9163	9048	9991	15469	11886
Cash Flow from Investing Activities	138	-282	-1173	-1063	-438	1791	-1528	-1728	-1494	-5324	6473
Cash Flow from Financing Activities	-3462	-3864	-4214	-4975	-5390	-6819	-9309	-8015	-8953	-10034	-13101
Net Cash Inflow / Outflow	-33	25	-202	21	-28	2595	-1674	-695	-456	111	5258
Closing Cash & Cash Equivalent	813	830	628	649	621	3216	1842	1147	701	812	6070

Hindustan Unilever Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Earnings Per Share (Rs)	20.17	19.16	20.72	24.14	28.03	31.24	34.02	37.78	43.06	43.73	45.31
CEPS(Rs)	21.71	20.88	22.84	26.6	30.67	35.95	38.61	42.46	48	48.93	51.17
DPS(Rs)	15	16	17	20	22	25	40.5	34	39	42	53
Book NAV/Share(Rs)	18.41	30.23	31.09	33.57	36.31	38.03	202.85	208.77	214.06	217.95	210.17
Core EBITDA Margin(%)	15.96	17.38	17.73	18.2	19.91	21.55	22.08	22.08	20.88	20.8	20.31
EBIT Margin(%)	18.69	17.48	18.22	17.79	19.37	20.31	20.36	20.57	19.86	20.23	20.25
Pre Tax Margin(%)	18.64	17.43	18.12	17.72	19.29	20.05	20.14	20.39	19.69	19.76	19.71
PAT Margin (%)	12.91	12.01	12.59	12.68	13.59	14.79	15.19	15.26	14.97	14.59	14.59
Cash Profit Margin (%)	13.86	13.03	13.8	13.94	14.86	16.98	17.23	17.13	16.65	16.31	16.44
ROA(%)	31.47	28.82	29.85	31.57	33.84	35.48	18.06	12.76	14.13	13.57	13.48
ROE(%)	117.02	79.09	67.98	74.82	80.29	84.25	28.63	18.37	20.42	20.26	21.21
ROCE(%)	165.63	111.83	94.6	102.5	113.29	114.74	38.36	24.77	27.06	28.06	29.43
Receivable days	10.91	11.99	11.99	10.61	12.79	11.83	10.07	12.52	14.32	15.73	17.01
Inventory Days	31.16	29.39	26.88	22.38	20.82	21.31	21.99	24.05	22.48	21.42	21.05
Payable days	134.54	143.18	149.78	167.18	163.3	170.63	149.02	140.97	118.62	135.02	144.43
PER(x)	43.28	45.38	43.9	55.34	60.93	73.56	71.45	54.23	59.42	51.87	49.86
Price/Book(x)	47.4	28.76	29.26	39.79	47.03	60.43	11.98	9.81	11.95	10.41	10.75
Dividend Yield(%)	1.72	1.84	1.87	1.5	1.29	1.09	1.67	1.66	1.52	1.85	2.35
EV/Net Sales(x)	5.82	5.75	5.88	8.02	9.29	12.35	12.05	9.11	9.85	8.49	8.29
EV/Core EBITDA(x)	31.14	28.71	29.06	36.16	38.73	46.82	47.09	36.42	40.7	33.96	32.98
Net Sales Growth(%)	9.37	0.67	3.03	7.19	10.59	1.2	18.21	11.52	15.51	2.17	1.98
EBIT Growth(%)	20.57	-4.53	7.67	12.53	17.83	7.57	15.41	11.72	12.34	5.96	3.86
PAT Growth(%)	10.61	-4.97	8.27	16.06	15.98	11.62	18.27	11.09	14.13	1.37	3.78
EPS Growth(%)	10.54	-4.98	8.14	16.49	16.11	11.46	8.9	11.06	13.98	1.55	3.62
Debt/Equity(x)	0.01	0.03	0.04	0	0.01	0	0	0	0	0	0
Current Ratio(x)	1.08	1.46	1.31	1.31	1.37	1.32	1.28	1.37	1.41	1.65	1.33
Quick Ratio(x)	0.77	1.08	0.98	1.03	1.08	1.02	0.96	1.01	1.06	1.34	1.07
Interest Cover(x)	358.03	355.88	186.11	281.92	261.73	78.74	91.65	113.02	118.05	42.69	37.49
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

Hindustan Unilever Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	61.9	61.9	61.9	61.9	61.9	61.9	61.9	61.9	61.9	61.9
FII	14.32	14.36	14.48	13.9	13.65	12.67	11.86	12.18	11.43	10.62
DII	11.55	11.56	11.52	11.94	12.35	13.24	14.13	14.15	14.7	15.54
Public	12.23	12.18	12.1	12.26	12.1	12.18	12.1	11.77	11.96	11.94
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	145.44	145.44	145.44	145.44	145.44	145.44	145.44	145.44	145.44	145.44
FII	33.66	33.74	34.02	32.66	32.07	29.77	27.88	28.61	26.86	24.96
DII	27.13	27.17	27.07	28.05	29.02	31.12	33.21	33.25	34.55	36.52
Public	28.74	28.61	28.42	28.81	28.42	28.63	28.43	27.66	28.11	28.04
Others	0	0	0	0	0	0	0	0	0	0
Total	234.96	234.96	234.96	234.96	234.96	234.96	234.96	234.96	234.96	234.96

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Company is almost debt free.

Cons

Debtor days have increased from 135.02 to 144.43days.
Stock is trading at 11.1 times its book value.
The company has delivered a poor profit growth of 9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.