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hul: Business environment will continue to be challenging due to geopolitical tensions, commodity price inflation: HUL


said the severe second wave of the Covid-19 pandemic had a significant humanitarian and economic impact and it witnessed socio-political unrest in several parts of the world, resulting in the disruption of global supply chains and unprecedented volatility in commodity costs.

“Against this challenging backdrop, our robust results for the financial year 2021-22 demonstrate strategic clarity, the strength of our brands, our execution prowess and agility. In the near future, with geopolitical tensions and commodity price inflation, the business environment will continue to be challenging,” said

managing director Sanjiv Mehta in the latest annual report.

Mehta’s remuneration rose 43% during FY21-22, according to the report. A year ago, his annual salary was Rs15.36 crore. His salary was 180 times higher than the average ratio of remuneration of HUL employees.

In a post-pandemic world, the workforce dynamics and employee preferences are changing rapidly with companies facing a very competitive talent market. HUL has taken proactive reward and career-related measures to ensure our talent feels valued and maintain our competitiveness, said the report.

HUL has 8480 permanent employees on the rolls of the company as on 31st March, 2022 and the percentage increase in the median remuneration of employees for the financial year was 3.6%. These include all employees excluding people governed under collective bargaining. According to the company,” average increase made in the salaries of employees other than the managerial personnel in the financial year was 8%.

During the year, HUL, India’s biggest consumer goods firm expanded 11% in net sales with 16 brands having more than Rs1000 crore turnover each. HUL’s chairman Nitin Paranjpe said India remains one of the fastest-growing Fast Moving Consumer Goods (FMCG) markets.

“However, the high inflation in recent times has led to a marked slowdown in growth rates. The recent slowdown notwithstanding, the penetration of FMCG products both in urban and rural India, provides significant headroom for growth. More people entering the middle class, a large working population, increasing nuclear family structures, urbanisation and rapid adoption of technology, all bode well for FMCG growth in the country,” added Paranjpe.

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