ECONOMY

Nestle India Q2 Review – Capex On Track; Rural Reach To Get Enhanced: ICICI Direct

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Nestle India Ltd.’s revenue witnessed growth of 14% to Rs 3476.7 on the back of low base quarter (1.7% growth) impacted by manufacturing and supply side disruptions due to national lockdown in March-May 2020.

Domestic sales growth of 13.7% was led by volumes and mix while export sales growth of 17.7% was led by higher export to affiliates.

Core products Maggi noodles, KitKat, Nestle Munch, Maggi Sauces, Maggi Masala-e-Magic posted strong double-digit growth.

E-commerce channel sales grew 105% and is now contributing 6.4% to domestic sales.

Though milk and other commodity prices have increased sharply in last four months, Nestle India was able to improve gross margins by 67 basis points mainly on account of favourable product mix and higher realisation.

Click on the attachment to read the full report:

ICICI Direct Nestle India Q2CY21 Result Update.pdf

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