'Premiumization now drives growth at HUL's home care'

Division's revenue contribution to HUL up from 32.3% in FY16 to 36% or ₹21,230 cr in FY23

- Gaurav Laghate 

Hindustan Unilever Ltd's home care division, which sells brands such as Surf Excel, Wheel and Rin, is growing at a faster clip than the company's beauty and foods and refreshments business, driven by greater premiumization in laundry detergents and utensil cleaners, said Deepak Subramanian, executive director, home care, at the FMCG major.

Subramanian, who has been heading the division in India for over a year now, said that the company has been growing ahead of the market and improving its competitiveness.

The home care segment has grown at a CAGR of 10.1% over the last seven years, compared to an 8.5% CAGR of HUL overall. The home care segment's contribution also increased from 32.3% in FY16 to HUL's standalone revenue to 36% in the last fiscal year, when it contributed 21,230 crore to HUL's total revenue.

While HUL's overall sales grew by 16% in FY23, the home care division, led by the popular brand Surf Excel, achieved a growth rate of 28%. SurfExcel has already surpassed the milestone of being a $1 billion brand for HUL.

10 Hom segment last 7 Additionally, home care liquids crossed €3,000 crore in sales in FY23. Other brands within the Home Care portfolio, such as Wheel, Rin and Vim, have crossed the ₹2,000 crore mark in revenue, while the fabric softener brand Comfort has exceeded ₹1,000 crore in business.