Hindustan Unilever is to return Rs21.9 billion to shareholders, according to a report published by Bloomberg Business, due to a ‘lack of investment options’. Although Hindustan Unilever CFO P B Balaji claimed the move signalled “a sign of confidence that we can run the business comfortably”.

Sales of personal care products such as Dove soaps and Fair & Lovely skin cream, rose just 3.3 percent in the final quarter of 2015, the smallest increment in a decade, while net income for the same period fell 22 percent.

The Indian arm of the Anglo-Dutch FMCG company will seek court approval for the transfer before deciding in what format to return the cash – be it a dividend or other means. The transaction is due to complete in the final half of 2016.