Hindustan Unilever : Results (PDF 1.83MB)

27th April, 2022
Stock Code- BSE: 500696
NSE: HINDUNILVR
BSE Limited,	National Stock Exchange of India Ltd
Corporate Relationship Department,	Exchange Plaza, 5th Floor,
2nd Floor, New Trading Wing,	Plot No. C/1, G Block,
Rotunda Building, P.J. Towers,	Bandra - Kurla Complex,
Dalal Street,	Bandra (E),
Mumbai - 400 001	Mumbai - 400 051
Dear Sir/Madam,

Sub: Outcome of the Board Meeting held on 27th April, 2022

This is further to our letter dated 13th April, 2022, wherein we had intimated to the Exchange, the date of Board Meeting for consideration of Audited Standalone and Consolidated Financial Results for the quarter and financial year ended 31st March, 2022.

Pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), this is to inform you that the Board of Directors in their meeting held today have:

1. approved the annual accounts for the financial year ended 31st March, 2022:

The Company's turnover for the financial year ended 31st March, 2022 was Rs. 50,336 crores as against turnover of Rs. 45,311 crores for the financial year ended 31st March, 2021.

The Profit before tax was Rs. 11,739 crores as against Rs. 10,490 crores for the corresponding year. Depreciation / amortization for the year was Rs. 1,025 crores as against Rs. 1,012 crores in the corresponding year. Exceptional Items for the period amounted to a loss of Rs. 34 crores as against loss of Rs. 227 crores in the corresponding year.

Provision for taxation (including deferred tax) is Rs. 2,921 crores (Last Year: Rs. 2,536 Crores). Profit after Tax and Net Profit increased to Rs. 8,818 crores (Last Year - Rs. 7,954 Crores).

recommended a final dividend of Rs. 19/- for the financial year ended 31st March, 2022 on Equity Shares of Re. 1/- each. The Company had earlier paid an interim

Sensitivity: Restricted_UPSI

dividend of Rs. 15/- per share on 12th November, 2021. The total dividend for the said period amounts to Rs. 34 /- per Equity Share of face value of Re. 1/- each.

• 2. The Auditors of the Company, M/s. B S R & Co. LLP, Chartered Accountants, have issued the Audit Reports for Standalone and Consolidated Financial Statements as prepared under the Companies Act, 2013 and Standalone and Consolidated Financial Results as prepared under Listing Regulations for the financial year ended 31st March, 2022 with an unmodified opinion.

  Please find enclosed herewith a copy of the Audited Standalone and Consolidated Financial Results of the Company for the financial year ended 31st March, 2022 along with the copy of the Auditor's Report. A copy of the Press Release issued in this regard is also attached herewith.

• 3. Decided to hold the 89th Annual General Meeting on Thursday, 23rd June, 2022.

• 4. Resolved to close the Register of Members of the Company from Friday, 17th June, 2022 to Thursday, 23rd June, 2022 (both days inclusive) for the purpose of payment of Final Dividend and Annual General Meeting of the Company.

You are requested to take the above information on your record.

Thanking You.

Yours faithfully,

For Hindustan Unilever Limited

DEVOPAM NARENDRA BAJPAI Dev Bajpai

Digitally signed by DEVOPAM NARENDRA BAJPAI

Date: 2022.04.27 16:02:49 +05'30'

Executive Director, Legal & Corporate Affairs and Company Secretary

DIN: 00050516 / FCS No.: 3354

BSR&Co.LLP

Chartered Accountants

14th Floor, Central B Wing and North C Wing,

Telephone: [phone]

Nesco IT Park 4, Nesco Center,

Fax: [phone]

Western Express Highway, Goregaon (East),

Mumbai - 400 063, India

Independent Auditor's Report

To the Board of Directors of Hindustan Unilever Limited

Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of Hindustan Unilever Limited (hereinafter referred to as the "Company") for the year ended 31 March 2022, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:

• a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

• b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2022.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results

These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Registered Office:

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

BSR&Co.LLP

Independent Auditor's Report (Continued)

Hindustan Unilever Limited

In preparing the standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• - Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone annual financial results made by the Management and Board of Directors.

• - Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• - Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

BSR&Co.LLP

Independent Auditor's Report (Continued)

Hindustan Unilever Limited

Other Matter

a. The standalone annual financial results include the results for the quarter ended 31 March 2022 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

For B S R & Co. LLP

Chartered Accountants

Firm's Registration No.:101248W/W-100022

ANIRUDDHA SHREEKANT GODBOLE

Digitally signed by ANIRUDDHA SHREEKANT GODBOLE

Date: 2022.04.27 15:54:03 +05'30'

Aniruddha Godbole

Partner

Mumbai Membership No.: 105149 27 April 2022 UDIN:22105149AHWJXS6879