Hold Hindustan Unilever; target of Rs 2800: ICICI Direct

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ICICI Direct's research report on Hindustan Unilever

Hindustan Unilever (HUL) is the biggest FMCG company in India with more than 40 brands across categories. It is the market leader in fabric wash, personal wash, cosmetics, shampoos and many other categories. The company has a distribution reach of ~8.5 million (mn) retail outlets with a direct network of more than 3.5 mn outlets • HUL commands gross margins ~50%, which gives it a leeway to spend 10- 12% on advertisement & Promotions.

Outlook

We maintain our HOLD rating on the stock. We value HUL at Rs 2800 i.e. 55x P/E on FY25E EPS.

For all recommendations report, click here

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Hindustan Unilever - 21 -01-2023 - icici