Post by Rahul Singh Rawat

Day 31/100 Last week, I spent time understanding Marico's business. This week, I wanted to compare it with India's largest FMCG company, Hindustan Unilever (HUL). Before comparing both companies, I thought it would be better to first understand HUL. • HUL is India's largest FMCG company and has been serving Indian consumers for over 90 years. • The company operates across multiple categories, including Beauty & Wellbeing, Personal Care, Home Care, Foods, Nutrition, and Ice Cream. • It owns some of India's most trusted brands and has one of the strongest distribution networks in the country. • According to the latest management commentary, HUL continues to focus on premiumisation, innovation, digital capabilities, and long-term volume-led growth. Now, let's compare HUL with Marico. • HUL has a much larger and more diversified business, while Marico follows a focused strategy in a few high-growth categories. • Marico has built strong positions in Hair Oils, Saffola Foods, Premium Personal Care, and its international business. • HUL's competitive advantage comes from its scale, broad portfolio, and deep distribution network. Marico's advantage comes from category leadership, focused execution, and consistent innovation. My Key Learning Comparing these two companies reminded me that success doesn't always come from being the biggest. Some businesses grow by serving many categories, while others create long-term value by becoming leaders in a few selected ones. #100DaysWithTVS #Finance #LinkedIn #EquityResearch #StockMarket #FMCG #HUL #Marico #BusinessAnalysis #Investing #TheValuationSchool