Hindustan Unilever Ltd

About [ edit ]

Hindustan Unilever is in the FMCG business comprising primarily of Home Care, Beauty & Personal Care and Foods & Refreshment segments. The Company has manufacturing facilities across the country and sells primarily in India.

Key Points [ edit ]
  • Market Cap 500,937 Cr.
  • Current Price 2,132
  • High / Low 2,614 / 1,756
  • Stock P/E 66.3
  • Book Value 199
  • Dividend Yield 1.17 %
  • ROCE 117 %
  • ROE 85.6 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 80.97%
  • Company has been maintaining a healthy dividend payout of 80.46%

Cons

  • Stock is trading at 10.70 times its book value
  • The company has delivered a poor sales growth of 4.47% over past five years.
  • Promoter holding has decreased over last 3 years: -5.29%
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
9,778 9,490 9,841 10,201 10,364 10,105 10,103 9,211 10,731 11,683 12,181
7,459 7,416 7,748 7,807 7,654 7,603 7,574 7,119 8,036 8,758 9,216
Operating Profit 2,319 2,074 2,093 2,394 2,710 2,502 2,529 2,092 2,695 2,925 2,965
OPM % 24% 22% 21% 23% 26% 25% 25% 23% 25% 25% 24%
Other Income 72 186 15 49 166 76 5 205 35 10 3
Interest 7 10 9 7 27 34 27 30 31 31 44
Depreciation 138 140 143 144 229 254 248 271 257 265 288
Profit before tax 2,246 2,110 1,956 2,292 2,620 2,290 2,259 1,996 2,442 2,639 2,636
Tax % 30% 30% 26% 31% 31% 21% 28% 24% 22% 25% 26%
Net Profit 1,565 1,478 1,440 1,571 1,792 1,814 1,627 1,515 1,898 1,974 1,937
EPS in Rs 7.23 6.83 6.65 7.26 8.28 8.38 7.52 7.00 8.08 8.40 8.24
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
20,458 17,738 20,023 23,436 27,004 29,234 31,972 32,186 33,162 35,545 39,310 39,783 43,806
18,017 15,373 17,325 19,982 22,844 24,502 26,576 26,276 26,895 28,140 30,434 30,004 33,129
Operating Profit 2,441 2,364 2,697 3,455 4,160 4,732 5,396 5,910 6,267 7,405 8,876 9,779 10,677
OPM % 12% 13% 13% 15% 15% 16% 17% 18% 19% 21% 23% 25% 24%
Other Income 814 629 490 402 1,183 820 1,264 486 667 447 326 506 253
Interest 26 7 1 2 26 41 18 17 35 26 33 118 136
Depreciation 200 192 229 234 251 296 322 353 432 520 565 1,002 1,081
Profit before tax 3,028 2,794 2,957 3,622 5,066 5,215 6,320 6,026 6,467 7,306 8,604 9,165 9,713
Tax % 17% 23% 22% 23% 24% 24% 31% 31% 31% 28% 30% 26%
Net Profit 2,505 2,157 2,296 2,791 3,829 3,946 4,363 4,151 4,476 5,214 6,054 6,748 7,324
EPS in Rs 11.49 9.89 10.63 12.91 17.71 18.24 20.17 19.18 20.68 24.09 27.97 31.17 31.72
Dividend Payout % 65% 66% 61% 58% 104% 71% 74% 83% 82% 83% 78% 80%
Compounded Sales Growth
10 Years:8%
5 Years:4%
3 Years:6%
TTM:7%
Compounded Profit Growth
10 Years:13%
5 Years:13%
3 Years:17%
TTM:9%
Stock Price CAGR
10 Years:22%
5 Years:20%
3 Years:17%
1 Year:-2%
Return on Equity
10 Years:83%
5 Years:78%
3 Years:81%
Last Year:86%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
218 218 216 216 216 216 216 216 216 216 216 216 235
Reserves 1,919 2,451 2,519 3,465 2,649 3,321 3,811 6,357 6,528 7,065 7,651 8,013 46,595
Borrowings 434 11 0 0 25 46 43 177 277 0 99 0 187
5,875 6,826 7,613 7,726 9,202 10,171 10,359 8,043 8,685 10,581 10,663 11,924 20,635
Total Liabilities 8,447 9,506 10,348 11,407 12,092 13,754 14,430 14,793 15,706 17,862 18,629 20,153 67,652
1,658 2,214 2,223 2,263 2,431 2,746 2,821 3,258 4,419 4,528 4,715 5,479 51,312
CWIP 478 280 289 228 222 373 516 408 229 461 406 597 649
Investments 288 1,224 1,188 2,322 2,252 2,838 3,025 2,592 3,794 2,873 2,716 1,255 1,621
6,023 5,787 6,647 6,595 7,186 7,797 8,067 8,535 7,264 10,000 10,792 12,822 14,070
Total Assets 8,447 9,506 10,348 11,407 12,092 13,754 14,430 14,793 15,706 17,862 18,629 20,153 67,652

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
2,054 3,480 1,924 2,932 3,605 3,818 3,292 4,171 5,185 6,059 5,800 7,623
885 -1,144 -327 -514 63 -475 138 -282 -1,173 -1,063 -438 1,791
-1,338 -2,188 -2,283 -1,726 -4,147 -2,960 -3,462 -3,864 -4,214 -4,975 -5,390 -6,819
Net Cash Flow 1,602 148 -687 692 -480 383 -33 25 -202 21 -28 2,595

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 144% 103% 99% 106% 131% 148% 140% 112% 91% 103% 116% 117%
Debtor Days 10 14 18 13 13 13 12 14 12 13 17 11
Inventory Turnover 4.17 3.28 3.44 3.86 4.56 4.55 4.81 4.87 5.33 5.72 6.36 5.95

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
67.19 67.19 67.19 67.19 67.19 67.18 67.18 67.18 67.18 61.90 61.90 61.90
12.56 12.15 12.11 11.96 11.83 12.06 12.40 12.32 12.10 14.81 14.54 14.92
6.85 7.27 7.31 7.44 7.03 6.93 6.67 6.68 6.67 8.34 10.82 10.72
13.39 13.39 13.39 13.41 13.95 13.82 13.74 13.82 14.05 14.95 12.74 12.46

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