Hindustan Unilever Limited
NSE Symbol HINDUNILVR
The results of Hindustan Unilever Ltd for the third quarter ending December 2010 are analysed below :
Net Sales is Rs.5027.01 cr – up by 7.39% from previous qtr of Q2 FY 11; and up by 11.61% from the corresponding qtr (Q3 FY 10) of previous year.
Total Expenditure is Rs.4459.06 - up by 6.85% from previous qtr and up by 16.4% from corresponding qtr of FY 10.
Profit from Operations is Rs.668.65 cr – up by 13.04% from previous qtr and DOWN by 9.94% from corresponding Qtr.
Net Profit is Rs.637.51 cr – up by 12.61% from previous qtr but DOWN by 1.79% from corresponding Qtr of previous year.
On a Face Value of Rs.1, the Basic EPS is Rs.2.92 in Q3 FY 11; Rs.2.59 in Q2 FY 11; Rs.2.44 in Q1 FY 11; Rs.2.66 in Q4 FY 10; and Rs.2.98 in Q3 FY 10.
WHAT COMPANY SAYS :
Mumbai, January 25th 2011: Hindustan Unilever Limited (HUL) announced its results for December Quarter 2010. With sustained double digit underlying volume growth in the Domestic Consumer business (+13%), Net Sales grew 12% during the quarter and ahead of the market in aggregate.
Home and Personal Care business grew by 11.6% with competitive growth in both Laundry and Personal Wash. Laundry portfolio was further strengthened and Rin delivered record volume growth. Personal Wash also grew ahead of the market with Lifebuoy growing strongly post the relaunch and the premium portfolio continuing to deliver robust growth.
Personal Products grew strongly at 20%; Growth was broad based across categories with Skin Care delivering a particularly strong performance. Skin Care growth was innovation led, both on the core and in emerging segments. Fair and Lovely, Pond’s White Beauty and Vaseline Healthy White continued to deliver robust sales growth. Both Hair and Oral performed well across the key brands. Dove Hair range was relaunched with ‘Fiber Actives’ and in Oral, a new variant Close-up ‘Fire-Freeze’ was successfully introduced.
Foods business grew 11.3%. In Tea, Red Label was relaunched and continued to deliver double digit growth. Coffee growth was robust, across conventional and instant coffee, with price point packs performing particularly well. Knorr Soupy Noodles sustained its strong momentum and is now available nationally. Ice-cream grew by 31% with good growth across formats.
Pureit continued to expand its franchise with product offerings across multiple price and benefit positions. Overall, the water business grew strongly and in line with action standards.
Input cost inflation continued to rise during the quarter. Cost of goods sold went up by 220 bps, as a result of steep rise in material costs, especially in commodity sensitive categories. A&P spend grew by 17% to maintain market competitiveness and to develop emerging categories. Consequently, operating margins were lower by 320 bps. Buying efficiencies and cost saving programs remain a priority and are being further scaled up.
Financial income increased by Rs. 38 crores through further improvement in working capital and sound treasury management. Profit after tax but before exceptional items declined by -2.1%, while Net Profit declined by -1.8%.
Harish Manwani, Chairman commented: “Our strategy is working and is reflected in the consistent double digit underlying volume growth over the last four quarters and ahead of market growth. We continue to strengthen our leadership in core categories, even as we invest to build opportunities for the future. In an inflationary environment, we will manage our business dynamically, through judicious pricing actions and increased focus on cost effectiveness, while ensuring that we remain competitive in the market place.”
STAND ALONE
RESULTS TABLE :
| HINDUNILVR | 31-Dec-10 | 30-Sep-10 | 30-Jun-10 | 31-Mar-10 | 31-Dec-09 |
| Net Sales | 502701 | 468087 | 479389 | 431575 | 450426 |
| Net Sales | 502701 | 7.39 | 4.86 | 16.48 | 11.61 |
| Other Operating Income | 10070 | 8380 | 8232 | 6449 | 6897 |
| Incre./decre. in SIT / WIP | -10299 | -10344 | 11107 | -22905 | -2492 |
| Raw Materials | 194151 | 179951 | 168326 | 177345 | 163367 |
| Traded Goods | 73064 | 68692 | 65227 | 67312 | 60233 |
| Employees Cost | 23104 | 24501 | 25061 | 23810 | 21201 |
| Depreciation | 5633 | 5537 | 5350 | 5029 | 4501 |
| Other Expenditure | 160253 | 148978 | 149806 | 132914 | 136264 |
| Total Expenditure | 445906 | 417315 | 424877 | 383505 | 383074 |
| Total Expenditure | 445906 | 6.85 | 4.95 | 16.27 | 16.4 |
| Profit from Operations | 66865 | 59152 | 62744 | 54519 | 74249 |
| Profit from Operations | 66865 | 13.04 | 6.57 | 22.65 | -9.94 |
| Other Income | 7702 | 7682 | 4213 | 2841 | 3888 |
| Interest | 6 | 7 | 8 | 14 | 19 |
| Exceptional Items7 | -6429 | -4044 | -1850 | -14339 | -4448 |
| Tax expense | 17239 | 14259 | 15478 | 18776 | 17655 |
| Extraordinary Items | - | - | - | -5211 | - |
| Net Profit | 63751 | 56612 | 53321 | 58120 | 64911 |
| Net Profit | 63751 | 12.61 | 19.56 | 9.69 | -1.79 |
| Dividend (%) | - | 300 | - | 350 | - |
| Face Value (In Rs | 1 | 1 | 1 | 1 | 1 |
| Paid Up Equity | 21821 | 21821 | 21821 | 21817 | 21814 |
| Basic EPS | 2.92 | 2.59 | 2.44 | 2.66 | 2.98 |
| Diluted EPS | 2.92 | 2.59 | 2.44 | 2.66 | 2.97 |
| Public Holding (%) | 47.99 | 47.99 | 47.99 | 47.98 | 47.98 |
ANNOUNCEMENTS
TO THE NSE
16-03-2011 the buy-back of equity shares of Hindustan Unilever Limited as on March 16, 2011. Total Number of shares bought back on March 16, 2011 : 2455000 equity shares.
16-03-2011 buy-back of equity shares of Hindustan Unilever Limited as on March 15, 2011. Total Number of shares bought back on March 15, 2011 : 207875 equity shares.
15-03-2011 the Company has extinguished additional 784959 (seven lakhs eighty four thousand nine hundred fifty nine only) Equity shares, purchased under the buy-back scheme by way of Sixth Debit corporate action executed through Karvy Computershare Private Limited, Registrars and Share Transfer Agents of the Company. Paid up capital before extinguishment : Rs. 216,81,77,089; Total No of shares Extinguished : 7,84,959; Paid up capital after extinguishment : Rs. 216,73,92,130.
09-03-2011 Hindustan Unilever Limited has informed the Exchange that the Company has extinguished additional 4184819 (forty one lakhs eighty four thousand eight hundred nineteen only) Equity shares, purchased under the buy-back scheme by way of Fifth Debit corporate action executed through Karvy Computershare Private Limited, Registrars and Share Transfer Agents of the Company. Paid up capital before extinguishment : Rs. 2,17,23,61,908.Total No of shares Extinguished : 41,84,819; Paid up capital after extinguishment : Rs. 216,81,77,089. -
21-02-2011 Hindustan Unilever Limited has informed the Exchange that the Company has extinguished additional 37,16,000 (thirty seven lakhs sixteen thousand only) Equity shares, purchased under the buy-back scheme by way of Third Debit corporate action executed through Karvy Computershare Private Limited, Registrars and Share Transfer Agents of the Company. Paid up capital before extinguishment : Rs. 2,17,93,16,821.Total No of shares Extinguished : 37,16,000; Paid up capital after extinguishment : Rs. 2,17,56,00,821. -
09-02-2011 the Company has extinguished additional 28,02,981 (twenty eight lakhs two thousand nine hundred eighty one) Equity shares, purchased under the buy-back scheme by way of Debit corporate action executed through Karvy Computershare Private Limited, Registrars and Share Transfer Agents of the Company. Paid up capital before extinguishment : Rs. 2,18,21,19,802; Total No of shares Extinguished : 28,02,981; Paid up capital after extinguishment : Rs. 2,17,93,16,821.
25-01-2011 standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 502701 lacs for quarter ending on 31-DEC-2010 against Rs. 450426 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 63751 lacs for the quarter ending on 31-DEC-2010 against Rs. 64911 lacs for the quarter ending on 31-DEC-2009.
25-10-2010 the Board of Directors of the Company at its meeting held on October 25, 2010 has declared an interim dividend of Rs. 3.00 per equity share of face value of Re. 1/- each for the financial year ending March 31, 2011. Further, the dividend will be paid to the shareholders on or after November 15, 2010. -
25-10-2010 Press Release dated October 25, 2010 titled "Hindustan Unilever Limited - September Quarter 2010 Results; 14% Volume growth drives top line".
25-10-2010 standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 468087 lacs for quarter ending on 30-SEP-2010 against Rs. 422811 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 56612 lacs for the quarter ending on 30-SEP-2010 against Rs. 42853 lacs for the quarter ending on 30-SEP-2009.
27-07-2010 Hindustan Field Services Private Limited (HFS) was formed as a Joint Venture between Hindustan Unilever Limited (HUL) and Smollan Holdings (Pty) Limited (Smollan) in terms of the Joint Venture agreement entered in November 2007. HFS was incorporated for building capabilities for 'in-store' execution in Modern Trade and operates as a dedicated venture with processes, capability and culture of execution. The Board of Directors of the Company have now agreed to divest 43.31% stake in HFS in favour of Smollan Group, who are currently holding 49% stake in HFS. HUL will continue to hold 7.69% shareholding of HFS and accordingly HFS will cease to be a subsidiary of the Company. -
27-07-2010 Press Release dated July 27, 2010 titled "Double digit volume growth sustained at +11%".
27-07-2010 standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 479389 lacs for quarter ending on 30-JUN-2010 against Rs. 447568 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 53321 lacs for the quarter ending on 30-JUN-2010 against Rs. 54319 lacs for the quarter ending on 30-JUN-2009.
11-06-2010 Board of Directors of the Company in their meeting held on June 11, 2010 have: (1) Approved the proposal for buy-back of Company's shares at a price not exceeding Rs. 280/- per share and upto an aggregate amount of Rs. 630 Crores, being within 25% of the paid up share capital and free reserves as per the audited balance sheet as at 31st March, 2010. The proposal for buy-back is subject to necessary shareholders' approval and compliance of statutory process. The buy back is proposed to be carried out from open market through the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. (2) Decided to seek the consent of Members of the Company for the above proposal through Postal Ballot.
25-05-2010 Board of Directors of the Company at its meeting held on May 25, 2010 has recommended a final dividend of Rs. 3.50 for the financial year ended March 31, 2010 on Equity Share of Re.1/- each.
25-05-2010 consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1776427 lacs for year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 215663 lacs for the year ending on 31-MAR-2010.
25-05-2010 standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1752380 lacs for year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 220203 lacs for the year ending on 31-MAR-2010.
29-04-2010 the Board of Directors have approved the scheme of amalgamation of Bon Limited, a wholly owned subsidiary of Hindustan Unilever Limited, with the Company. The Company has now informed the Exchange that the Hon'ble High court of Bombay has, vide its order dated April 16, 2010, approved the aforesaid scheme of amalgamation of Bon Limited with the Company and the requisite Form 21 has been filed with the Registrar of Companies, Mumbai on April 28, 2010. The appointed date for the abovementioned scheme was April 01, 2009 and the scheme shall be effective from April 28, 2010 i.e. the date of filing of Form 21 with the Registrar of Companies, Mumbai. Consequent to the amalgamation as aforesaid, Bon Limited has ceased to be a subsidiary of the Company.
29-03-2010 "Pursuant to the terms of agreement entered between Hindustan Unilever Limited (HUL) and Cap Gemini SA in October 2006, HUL has divested its remaining 49% stake in Capgemini Business Services (India) Limited (CGBSL) [formerly Unilever India Shared Services Limited (UISSL)]. UISSL was the in-house BPO unit of HUL. Cap Gemini SA and HUL entered into an agreement in September 2006, for sale of 51% controlling stake of HUL in UISSL. Post dilution, UISSL was renamed as Capgemini Business Services (India) Limited. In terms of a separate agreement entered in October 2006 and subsequent amendments thereto, both parties further agreed for dilution of the balance 49% stake of HUL in favour of Cap Gemini SA by 31st March 2010. Accordingly, HUL has now divested its 49% stake in CGBSL in favour of Cap Gemini SA".
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