MOSL: Morning India (20/July/22): 1. Hindustan Unilever (Beat on volumes led by Home Care performance); 2. State Bank of India; 3. HDFC Life Insur.; 4. ICICI Lombard; 5. Ambuja Cements; 6. Coromandel Inter.; 7.
MOrning India (20/July/22): 1. Hindustan Unilever (Beat on volumes led by Home Care performance); 2. State Bank of India; 3. HDFC Life Insur.; 4. ICICI Lombard; 5. Ambuja Cements; 6. Coromandel Inter.; 7. L&T Fin. Holdings; 8. Telecom
Today’s top research idea
Hindustan Unilever: Beat on volumes led by Home Care performance
- HUVR's sales and volumes were ahead of expectations in 1QFY23 but gross profit, EBITDA, PBT and PAT were broadly in line. Margin pressure led by commodity cost inflation is likely to persist in 2QFY23E, before sequential improvement from 3QFY23E onwards.
- Within the premium personal care portfolio, skin care is ahead of pre-Covid levels although color cosmetics portfolio is still below the pre-pandemic levels despite the recent recovery in mobility.
- Signs of incipient earnings growth recovery are getting better - but only gradually - fueled by possible good monsoon, fertilizer subsidy, gradual reduction in commodity costs from the decadal high levels and recovery in premium personal care portfolio
Piping hot news
Grasim enters B2B e-commerce in building materials, to invest Rs 2,000 cr
- Grasim Industries, an Aditya Birla Group company, on Tuesday approved a foray into B2B e-commerce in the building materials segment with an investment of Rs 2,000 crore over the next five years. This investment adds a new high-growth engine with clear adjacencies within Grasim’s standalone businesses as also that of its subsidiaries and associate companies. The company is spending Rs 10,000 crore in new paints business and will launch its products by early 2024. The group owns India's largest cement company with a capacity of 120 million tonnes per annum
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