BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Nestle India Ltd. posted strong results with 10.2% domestic revenue growth led by robust demand for noodles category supported by continued trend of higher ‘at-home’ consumption.
Export sales were also up 9.4%. Though our channel check suggested dismal growth numbers, especially in infant food category, we believe this was only Metro cities (Delhi, Mumbai and Bangalore) phenomenon.
There was strong growth in tier 2, tier 3 cities. Further, e-commerce sales also increased 97% in Q3 CY20. It is now contributing 4% to overall sales.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.