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The Covid-19 pandemic has been a ‘black swan’ moment for most businesses and Hindustan Unilever (HUL), the country’s largest consumer goods company, has been no exception, Sanjiv Mehta, chairman and managing director, said in his address to shareholders on Tuesday.
Speaking at the company’s 87th annual general meeting (AGM) held virtually in compliance with regulatory guidelines, Mehta hinted at margin pressures and higher operating costs of running the business during a pandemic.
“Distribution costs have significantly increased and there will be short-term pressure on margins,” he said.
Mehta also said the June quarter financial performance would be ‘soft’ because of
