fbpx
HomeNewsUneven rainfall affected rural demand: Hindustan Unilever chairman Nitin Paranjpe

Uneven rainfall affected rural demand: Hindustan Unilever chairman Nitin Paranjpe

OYO

OYO debuts first luxury hotel in Dubai, targets expansion of premium property portfolio

0
OYO, the h͏ospitality an͏d travel tech platform, has launched its first luxury hotel in Dubai, Palette Royal Reflections Hotel and Spa. This ͏mov͏e comes...
The Leela Gandhinagar Diya Menu

The Leela Gandhinagar unveils Diya’s delectable new menu with exciting additions

0
Diya, th͏e͏ ͏upsc͏ale͏ In͏di͏a͏n͏ specialty restaurant loc͏at͏ed ͏at ͏The Leela Gandhinagar,͏ h͏͏as rece͏ntly ͏͏ov͏͏͏er͏haule͏d ͏͏it͏͏s menu,͏͏ in͏͏͏troducing ͏a͏ variety of ͏ne͏w͏ d͏ish͏es͏͏͏ to͏ off͏er...

Hindustan Unilever reported a robust performance in last fiscal year despite facing a challenging macroeconomic environment characterized by erratic rainfall and subdued agricultural output, which impacted rural demand, as stated in its annual report.

Nitin Paranjpe, chairman at HUL said in its annual report, “We observed a gradual deflation in commodity prices within certain segments of our portfolio following an extended period of high inflation. However, cumulative inflation continued to remain high.”

In the fiscal year 2023-24, the remuneration for Rohit Jawa, the managing director of HUL, increased by 4% to reach INR 22.39 crore. This amounted to a salary 153 times greater than the average remuneration of HUL employees, as per the report. Comparatively, his annual remuneration stood at INR 21.43 crore a year earlier.

Continue Exploring: Hindustan Unilever shifts focus to bigger brands in pursuit of volume growth

As of March 31, 2024, HUL had 7,215 permanent employees, a rise from 6,697 employees the previous year.

The median remuneration witnessed a 7.38% increase for FY24. Moreover, during the fiscal year, HUL saw a 3% growth, resulting in sales of INR 59,579 crore.

“HUL successfully steered through a challenging macro-economic landscape in the fiscal year 2023-24 by prioritizing key strategic initiatives,” stated Rohit Jawa. “These initiatives include enhancing our core through unbeatable brand excellence, leading market innovation, refining our portfolio towards premium segments, and reinforcing our position as leaders in emerging future channels.”

The country’s largest consumer goods firm disclosed that it has 19 brands generating annual sales surpassing INR 1000 crore.

Continue Exploring: Hindustan Unilever’s net profit dips 1.53% to INR 2,561 Crore in Q4 FY24

Latest articles

iD Fresh Food on expansion spree, set to launch in 11 new cities across India

iD Fresh Food, a lead͏͏ing͏ br͏͏a͏n͏d͏ ͏in ͏fre͏͏sh, natural ͏food ͏͏product͏s, p͏l͏an͏s ͏͏to͏ ͏͏e͏xp͏an͏d...

Karthik Gurumurthy returns investor funds, puts offline venture on hold: Report

Karthik Gurumurthy, who success͏fully bui͏lt Swiggy Instamart from the ground͏ up in 202͏0 to...

Meat retailer Licious plans major offline expansion, targets 500 stores across top cities

Licious, the fresh meat and seafood delivery unicorn, is shifting͏ its focus from online͏...

Dairy brand Sid’s Farm raises $10M in Series A funding led by Omnivore and Narotam Sekhsaria’s Family Office

Just a wee͏k af͏ter app͏ointing Sunil Potturi as ͏its͏ ͏new Chi͏ef ͏Technology Officer, dairy...

Related Articles

Hindustan Unilever signals cautious optimism in Q3 results, expects sustained recovery in market demand

Hindustan Unilever, a leading player in consumer goods, expressed cautious optimism during the announcement...

Parle retains top spot as India’s leading FMCG brand, Britannia dominates out-of-home consumption: Brand Footprint 2023 Report

Parle, the beloved biscuit brand owned by Parle Products, has once again reaffirmed its...

Adani Wilmar sees double-digit growth in edible oil and food divisions during Q4 FY24

Adani Wilmar Ltd. saw double-digit growth in both its edible oil and food divisions...
× Drop a, Hi?