Motilal Oswal has given buy rating Hindustan Unilever with a target price of Rs 2670. The share price moved up by 0.73 per cent from its previous close of Rs 2027.05. The stock’s last traded price is Rs 2041.80.

Hindustan Unilever Ltd., incorporated in the year 1933, is a Large Cap company (having a market cap of Rs 476206.80 Crore) operating in FMCG sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 10572.00 Crore, up 16.46 % from last quarter Sales of Rs 9078.00 Crore and up 3.39 % from last year same quarter Sales of Rs 10225.00 Crore. The Company reported net profit after tax of Rs 1897.00 Crore in latest quarter.

Investment Rationale
The brokerage remains positive on HUVR from a medium-term perspective, encouraged by: (a) robust earnings growth potential beyond the near term owing to its portfolio and execution strengths and (b) significant synergies in FY22E as a result of GSKCH. These factors suggest premium multiples are likely to sustain. Valuing the company at 55x Sep’22 merged EPS, the brokerage arrives at TP of Rs 2,670, implying 25% upside.


Promoter/FII Holdings
Promoters held 61.9 per cent stake in the company as of June 30, 2020, while FIIs held 14.8 per cent, DIIs 8.3 per cent and public and others 15 per cent.

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