Hindustan Unilever - Q2 FY13 Result Analysis - Microsec

Hindustan Unilever (HUL) announced its Q2 FY13 results on 26 Oct 2012.

The company's Total Income increased by 12% YOY to INR6311 crore YOY and its EBITDA increased by 18% YOY to INR977 crore. EBITDA Margin of the company increased from 14.7% to 15.5% YOY. Volume Growth came at 7% which is below estimates. Adjusted PAT (Excl EO) increased by 25% YOY to INR805 crore. PAT incl EO increased by 17% to INR807crore YOY.

Soaps and Detergent segment registered a growth of 22% with premium brands like'Surf' & 'Rin' delivering double digit volume growth. EBIT in Soaps & Detergents improved from 12.3% to 14.3% YOY resulting in improving the EBITDA margin of HUL. At the CMP of INR550, we maintain Buy on the stock with our Price Target of INR676 for a period of 12-15 months time.

Source : Equity Bulls

Keywords