HLL Receives Largest Wealth Creator Award

Mumbai: Hindustan Lever Limited (HLL) has received the Motilal Oswal ‘Largest Wealth Creator’ Award for the period 1996-2001. HLL’s Finance Director, Mr. D. Sundaram, received the award on behalf of the company at a function here today. This is the 5th time that HLL has been conferred with this distinction.

HLL has improved its ROCE from 53% in 1996 to 65% in 2000, achieved through growth, margin improvement and capital productivity. “HLL is on the right track towards providing long term value to shareholders. Even in the challenging market conditions of the last few years, HLL has continued profitable growth while conserving capital. This is reflected in the company’s ‘negative’ working capital and higher quantum of cash released from operations,” Mr. Sundaram said while accepting the award.

For the 9 month period ended 30th September 2001, HLL’s Net Sales were Rs.8208.98 crores (+3.2%). Profit After Tax was Rs.1030.97 crores (+ 18.2%), while Net Profit was Rs.1204.93 crores (+ 36.8%).