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New Delhi: India's largest fast-moving consumer goods (FMCG) company, HUL (Hindustan Unilever Ltd), has announced a significant price cut across several of its flagship products, which will be effective from September 22. The move follows the recent GST cuts made by the government, which consolidated the tax slabs into 5 percent and 18 percent while eliminating the earlier 12 percent and 28 percent brackets. A new 40 percent slab has been introduced for luxury and sin goods.
As per HUL's advertisement, the revised prices will be reflected in fresh stock reaching the market shortly. The company said it is complying with the government directive that mandates FMCG firms to publish consumer advisories regarding price changes.
HUL reduces prices of its products like Dove Shampoo, reducing the rate from Rs 490 to Rs 435 for 340 ml. The price of Horlicks lowered from Rs 130 to Rs 110, whereas for Kisan Jam the reduction in price was observed from Rs 90 to Rs 80. The price of Lifebuoy soap was slashed to Rs 60 from Rs 68 for a four-pack of 75 grams each.
HUL said new stock with a revised maximum retail price (MRP) or increased grams is in the process of reaching the market. This move comes after the government made it mandatory for companies to publish advertisements in newspapers to inform consumers about price revisions.
The decision is expected to improve consumer sentiment at a time when household budgets remain stretched due to inflationary pressures. Analysts also view this as an effort by HUL to protect market share in competitive categories like personal care, nutrition, and hygiene.
The stock of HUL saw a decline in its trading on Friday, September, closing at Rs 2,580.30 apiece on the Bombay Stock Exchange (BSE). However, the stock performed positively in the last one month, going up 3.57 percent whereas the stock traded 11 percent higher in the current year (year to date (YTD))
