HUL hints at further price hikes

FMCG major Hindustan Unilever (HUL) today said there could be further price hikes in its products as input costs, particularly that of commodities continue to rise.

"We have taken several price increases recently but if the commodity prices continue the way it is then I suspect there could be further price increase," HUL Chief Executive Officer and Managing Director Nitin Paranjpe told reporters here on the sidelines of AIMA event.

Asked what impact would the rising commodity prices will have on the company's margins, he said: "We cannot talk about the specifics...How the input cost will impact our business but all I can say is commodity prices are increasing whether its palm oil, crude, tea...Everything that impact our business is increasing."

Paranjpe said considering the current environment, the company will have to manage the situation carefully.

"Which means, looking at cost, looking at extracting value, looking at bringing efficiency in our business but we have to be judicious while managing our prices. We have to make sure that we remain competitive in the market as well," he added.

HUL had recently revised prices upwards of its 'Lux' and 'Liril' soap brands by up to 10%.