"Laundry saw robust double-digit growth across key brands". While the implementation of this change was initiated immediately, it was not possible to pass on the entire benefit of this rate reduction on some of the pipeline stocks during the transition, HUL said.
"There are early signs of commodity cost inflation and we will further sharpen our focus on cost effectiveness programs and manage our business dynamically for competitiveness and sustained profitability", said Harish Manwani, chairman, HUL.According to the company, HUL has "proactively disclosed" an estimated amount of Rs 119 crore to the CBEC and has offered to pay the amount suo motu to the government. The spokesperson also said had accelerated its distribution and trade networks, covering more than 800 stock-keeping units to reduce prices. "We have received a notice on 16 January (Tuesday) from the DGS, and we are in the process of ascertaining the full details". We firmly believe that as a responsible company it is our duty to be transparent and what belongs to the consumer should go to the consumers. But there are no legal provisions or rules that allow them to take this money and, therefore, they have referred this matter to the Directorate General of Safeguards (DGS).
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As of now, almost 95% of HUL's products in the market is with new pricing.
Key things to watch out for are increased advertising spends, revenue growth in home care & personal care space, revenue improvement in foods, some inflationary pressure in input costs, and price cuts post GST rate cuts. "Hair care witnessed broad based volume led growth", said HUL.
Total expenses during the quarter under review stood at Rs 7,036 crore as against Rs 7,067 crore in the corresponding period previous fiscal. Comparable ebitda margin improvement is 110 basis points (1 percentage point = 100 basis points) over the same quarter a year ago.