Ten Years of Nothingness

HUL's share price over the last 15 years show Ten Years of Nothingess. Remember that this happened after a lot of outperformance compared to Sensex between 1979 when HUL was listed with an IPO price of INR 20 and 1999 when its share price touched INR 3000 (pre split of 10:1 in 2000). The company has a bonus history which shows that 1 share of face value INR 10 became 6.4 shares of face value INR 10 between 1979 and 1992 and those 6.4 shares of INR 10 became 64 shares of INR 1 because of split. Thus anybody who held 1 share of INR 20 @ IPO in 1979 was holding 64 shares of INR 300 in early 2000, i.e. INR 20 became INR 19200 in 21 years, a CAGR return of 38.68%, of course without counting dividends. Those 21 years of outperformance was followed by Ten Years of Nothingness!!!! Even if you consider the lost decade of 2000-2009, the CAGR return at today's price of INR 230 amounts to 24.6% over 30 years, better than Buffett. Should an investor complain?