HUL Q4 net drops 5.72%; hopeful of monsoon-led demand revival

Rohit Jawa, CEO and Managing Director, said: “In FY24, we delivered a resilient performance with 3 per cent USG and crossed Rs 10,000 crore net profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators.”

“With rising affluence, under-indexed FMCG consumption and a strong digital infrastructure, I remain very confident of the medium to long-term potential of Indian FMCG sector. To serve the evolving aspirations of Indian consumers, we have embarked on a journey of ‘Transform to Outperform’,” he said. “Our key thrusts of growing our core through unmissable brand superiority, market making and premiumisation, re-shaping our portfolio to high growth spaces and leadership in channels of future, backed by our distinctive capabilities will enable us to continue winning in the Indian FMCG sector,” Jawa said. The company’s homecare segment, its biggest one, which houses brands like Surf Excel and Comfort, posted mid-single-digit percentage volume growth led by outperformance in Vim liquid.

HUL said BP Biddappa will join the HUL Management Committee as Executive Director, Human Resources and Chief People, Transformation and Sustainability Officer for South Asia. Biddappa will also join the HUL board as a Whole Time Director, subject to shareholder approval. Anuradha Razdan, currently Executive Director, Human Resources, HUL and Chief HR Officer, South Asia will be appointed to a global role as Chief Reward & Organization Development Officer for Unilever. This change will be effective June 1, 2024.