Onward Technologies Ltd. — Interim / Quarterly Report 2018

Oct 12, 2018

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RESULTS FOR THE QUARTER ENDING 30[th] SEPTEMBER 2018

12% DOMESTIC CONSUMER GROWTH, 10% UNDERLYING VOLUME GROWTH

Mumbai, October 12[th] , 2018: Hindustan Unilever Limited announced its results for the quarter ending 30[th ] September 2018.

Domestic Consumer Growth was 12% with Underlying Volume Growth at 10%. EBITDA margin was up 160 bps and Profit after tax (bei) at Rs.1522 Crores grew by 23%.

Home Care: Strong volume driven growth sustained

Stellar performance in Home Care continued with Fabric wash and Household care delivering double-digit growth. Domex ‘Pick up the Brush’ campaign was launched in South India and was well received. Our market development and premiumization initiatives are delivering good results.

Beauty & Personal Care: Broad-based growth across Personal Wash and Personal Products

Skin Care delivered good performance with our key brands registering robust growths. Men’s Fair and Lovely relaunch was well received. Hair Care witnessed strong double-digit growth and TRESemmé was relaunched with superior fragrance and packaging. Colour cosmetics delivered yet another quarter of strong performance on the back of successful innovations; “Kareena Kapoor Khan by Lakmé Absolute” an exclusive makeup range was also launched during the quarter. Axe Ticket has performed well and is continuing to gain traction. Personal Wash saw robust growth across the premium portfolio with Dove and Pears performing well.

Foods & Refreshment: Robust growth across categories

Beverages delivered broad based double-digit growth for the quarter enabled by flawless execution of our WiMI strategy. Ice Cream and Frozen desserts and Foods performed well with double-digit growths. We acquired Adityaa Milk Ice cream during the quarter and the integration has commenced.

Margin improvement sustained: EBITDA margin up by 160 bps

Our well-established savings programme and leverage in other expenses has enabled us to mitigate material inflation and drive margin improvement. Earnings before interest, tax, depreciation and amortization (EBITDA) at Rs. 2019 Crores was up by 20%. Profit after tax (PAT), at Rs. 1525 Crores was up by 20%.

The Board of Directors has declared an interim dividend of Rs. 9 per share for the year ending 31st March 2019.

Sanjiv Mehta, Chairman and Managing Director commented: “We have delivered another strong performance in the quarter and also for the half year. Our focus on strengthening the core, leading market development and driving excellence in execution has enabled us to deliver competitive and profitable growth.

In the near term, we expect demand to be stable. Our strength of agility and responsiveness gives us confidence to navigate the headwinds arising from crude inflation and currency depreciation. Our strategic agenda remains one of delivering Consistent, Competitive, Profitable and Responsible growth.”

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Leo Puri Appointed as Independent Director on the HUL Board

Mumbai, October 12, 2018: Hindustan Unilever Limited (HUL) today announced the appointment of Mr. Leo Puri (57), as an Independent Director on its Board effective October 12, 2018.

Mr. Puri, until recently, was the Managing Director of UTI Asset Management Company. He has also previously served as an Independent Director in companies including Max New York Life Insurance Company, Infosys, Bennett Coleman & Co.

Prior to joining UTI Asset Management Company as CEO in August 2013, Mr. Puri was Director at McKinsey & Company until 2007, and has also been a Senior Advisor to the Firm. He was a Managing Director at Warburg Pincus, a leading Private Equity Firm, from 2007 to 2011. Earlier in his career he worked in the UK, US and Singapore with A.T. Kearney, Spicer & Oppenheim and Lloyds Bank.

Welcoming Mr. Puri’s appointment, Mr. Sanjiv Mehta, Chairman & MD, HUL said, “Leo has a great track record of strategic leadership and transformation engagements across local and global markets. His experience and expertise across private and public institutions will be an excellent complement to our Board.”

Mr. Puri stated that “HUL is an iconic institution and one of the most well-respected companies in the country. I am delighted to join the Board and look forward to contributing as an Independent Director.”

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About Hindustan Unilever Limited

Hindustan Unilever Limited (HUL) is India's largest Fast Moving Consumer Goods company with its products touching the lives of nine out of ten households in India. HUL works to create a better future every day.

For media enquiries :

mediacentre.hul@unilever.com