New Delhi, June 30 -- Hindustan Unilever Ltd (HUL) is targeting earnings growth of about 10% over the medium-to-long term, chairman Nitin Paranjpe said at the company's 92nd annual general meeting on Monday.

The projection comes despite a challenging 2024-25 that was marked by muted market growth, slow rural recovery, and moderating urban expansion.

"It was a difficult year," acknowledged Paranjpe, addressing shareholders virtually. "Market growths were muted, rural growth was recovering, but recovering slowly, but urban growth was moderating right through the course of the year."

He, however, added that broad macro-economic indicators such as lower inflation, tax changes resulting in higher disposable income, and a good monsoon would ...