HUL versus ITC: Despite headwinds, stable demand aids growth in Q2

Despite headwinds, the firms posted strong Q2 numbers in their FMCG businesses

Hindustan Unilever (HUL) and ITC, two bellwethers within the fast-moving consumer goods (FMCG) industry, posted strong revenue growth in the July-September period, led by a recovery in consumer demand, especially in rural areas. At 11.1 per cent (HUL) and 12.7 per cent (ITC) revenue growth for the quarter, the companies gained from an uptick in sentiment in most categories where they operate in. 

HUL has a footprint across home and personal care products and food and beverages, while ITC has a presence in food and beverages, personal care, lifestyle, retail and stationary items, bunched under the category of FMCG-others by