GOLDMAN SACHS ON HINDUSTAN UNILEVER
• BUY; target price at ₹2,450
First Capital Markets Day under CEO Priya Nair offers sharper strategic clarity
• Foods and Beauty & Wellbeing to drive accelerated innovation and adjacencies Horlicks repositioned towards lifestyle nutrition, with yeast-based protein launch
• Minimalist revenue doubled to ~Rs 9 billion ARR in two years
CPO
• Margin guidance widened to 22-24% from 22.5- 23.5%
Capex to increase to 3% of revenue from 2% Near-term industry growth remains resilient; no explicit growth guidance
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1September 8, 2026 1.3K 1
