HUL shares fall up to 4% despite in-line Q3 results; most brokerages slash target

Shares of the FMCG large Hindustan Unilever (HUL) in Thursday's league fell up to 4 per cent successful aboriginal commercialized -emerging arsenic the apical Nifty loser arsenic anemic absorption commentary weighed. At astir 9:35 am, the banal traded anemic by implicit 2 per cent oregon Rs 48.45 astatine Rs 2,294.5 apiece connected the NSE.

For the December quarter, HUL posted mostly in-line results with standalone nett during the reappraisal 4th beating estimates connected the backmost of Rs 509 crore exceptional gain. Analysts expect that the company's announcement beyond results may, however, lend enactment to the stock.

Standalone nett for the reporting 4th came successful astatine Rs 3,001 crore arsenic against Zee Business estimates of Rs 2,556 crore. In Q3FY24, the company's PAT was astatine Rs 2,519 crore. Revenue, however, lagged estimates, but recorded 1.4 per cent on-year maturation to Rs 15,408 crore arsenic against Rs 15,188 crore successful the aforesaid play past year.

On the operating front, the diversified FMCG institution posted Rs 3,570 crore successful EBITDA versus Rs 3,540 crore successful the aforesaid play of the erstwhile year. EBITDA borderline besides registered a 10 ground points diminution and came successful astatine 23.2 per cent successful examination to 23.3 per cent during the corresponding play of the erstwhile year.

The underlying measurement maturation besides remained flattish during the reappraisal 4th arsenic against estimates of 1 per cent growth. 

HUL's absorption commentary

The company's absorption connected the sidelines of the company's Q3FY25 net said that it expects moderation successful depletion sentiment to proceed and successful lawsuit the commodity prices stay steady, low-single digit terms maturation is expected. Further, it added that EBITDA will be likely maintained astatine the little extremity of our scope of 23-24 per cent.

How planetary brokerages presumption HUL's Q3 earnings?

Citi has continued with its 'buy' standing connected the scrip but with a reduced people of Rs 2,850. Earlier, the brokerage pegged HUL's people astatine Rs 3,400. As per the brokerage tepid request trends volition measurement connected the adjacent word maturation outlook of the FMCG company. Furthermore, the brokerage sees the acquisition of Minimalist to addres achromatic spaces successful the quality segment. Considering the headwinds, overseas brokerage has slashed FY25-27 net estimates by 2-6 per cent.

Goldman Sachs, meanwhile, has continued with its 'neutral' stance connected the antagonistic with the people reduced to Rs 2,480 from Rs 2,650 per stock earlier. Acording to the brokerage, the company's Q3 was beneath estimates connected EBITDA arsenic good arsenic measurement growth. Also, the brokerage highlighted that the company's absorption lowered the near-term outlook to moderating consumption situation from unchangeable situation earlier. Also, the brokerage underlined that the municipality slowdown has worsened, with downtrading to tiny packs underway.

Macquarie besides has reiterated its erstwhile 'Outperform' telephone connected the banal with the people astatine Rs 2,800. The brokerage foresees tailwind successful the quality conception from the acquisition of Minimalist brand. Also, it added that gradual gait of betterment astatine the institution is driving cuts connected some the EPS arsenic good arsenic people price. Besides, the brokerage is of the presumption that the worst of measurement weakness is apt down us.

Management Commentry-
Management expects moderation successful depletion sentiment to continue
If commodity prices stay wherever they are, low-single digit terms maturation expected
EBITDA to beryllium maintained astatine the little extremity of
our scope of 23-24%
++
Uprising Science का अधिग्रहण 2955 करोड़ के pre-money endeavor worth परे करेगी
Minimalist ब्रांड के तहत स्किनकेयर प्रोडक्ट्स का कारोबार करती हैं
90.5% हिस्सा 2670 करोड़ कॅश में खरीदेगी
कंपनी में अतिरिक्त 45 करोड़ का निवेश करेगी
Q1FY26 में अधिग्रहण पूरा होने की उम्मीद
बची हुई 9.5% हिस्सेदारी 2 साल के दौरान फाउंडर से खरीदेगी
अगले 2 साल तक प्रमोटर कंपनी को चलाएंगे
+++
बोर्ड ने Ice pick कारोबार के डीमर्जर को मंज़ूरी दी
1:1 के रेश्यो में डीमर्जर को मंज़ूरी
++
Vishwatej Oil Industries के Palm Undertaking का अधिग्रहण को मंज़ूरी
Backward Integration के लिए अधिग्रहण करेगी
 
 

2,294.50quote worth Hig

अनुमान के मुताबिक नतीजे   
Revenue 15,408 cr Vs 15,188 cr UP 1.4% (Est 15,610 cr)  
EBITDA 3,570 cr Vs 3,540 cr UP 1% (Est 3,590 cr)  
Margin 23.2% VS 23.3% (Est 23%)  
PAT 3,001 cr Vs 2,519 cr UP 19% (Est 2,556 cr)  
Exceptional summation 509cr VS Exceptional nonaccomplishment 30cr 
Volume Growth level vs expected 1% growth 
 

मैनेजमेंट की कमेंटरी कमज़ोर
आगे भी depletion सेंटीमेंट में कमज़ोरी रहेगी
प्रोडक्ट मिक्स में बदलाव और tiny battalion यूनिट में ग्रोथ से वॉल्यूम ग्रोथ पर असर
कमोडिटी की कीमते में गिरावट नहीं हुई तोह low-single digit प्राइस ग्रोथ रहेगी
23-24% के लोअर एन्ड पर EBITDA मार्जिन रहेगा
 

was mostly in-line with standalone nett due

with Muted Expectations

PAT beats est owed to 509 cr exceptional gain
Announcements beyond results whitethorn enactment stock
Volume Growth level vs expected 1% growth
Revenue 15,408 cr Vs 15,188 cr UP 1.4% (Est 15,610 cr)
EBITDA 3,570 cr Vs 3,540 cr UP 1% (Est 3,590 cr)
Margin 23.2% VS 23.3% (Est 23%)
PAT 3,001 cr Vs 2,519 cr UP 19% (Est 2,556 cr)
Exceptional summation 509cr VS Exceptional nonaccomplishment 30cr
Management Commentry-
Management expects moderation successful depletion sentiment to continue
If commodity prices stay wherever they are, low-single digit terms maturation expected
EBITDA to beryllium maintained astatine the little extremity of
our scope of 23-24%
++
Uprising Science का अधिग्रहण 2955 करोड़ के pre-money endeavor worth परे करेगी
Minimalist ब्रांड के तहत स्किनकेयर प्रोडक्ट्स का कारोबार करती हैं
90.5% हिस्सा 2670 करोड़ कॅश में खरीदेगी
कंपनी में अतिरिक्त 45 करोड़ का निवेश करेगी
Q1FY26 में अधिग्रहण पूरा होने की उम्मीद
बची हुई 9.5% हिस्सेदारी 2 साल के दौरान फाउंडर से खरीदेगी
अगले 2 साल तक प्रमोटर कंपनी को चलाएंगे
+++
बोर्ड ने Ice pick कारोबार के डीमर्जर को मंज़ूरी दी
1:1 के रेश्यो में डीमर्जर को मंज़ूरी
++
Vishwatej Oil Industries के Palm Undertaking का अधिग्रहण को मंज़ूरी
Backward Integration के लिए अधिग्रहण करेगी