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.
IDBI Capital Report
Nestle India Ltd.'s Q3 CY21 result has been in-line with our estimates. Revenue continued double digit growth momentum on a high base of 10% YoY.
Organised trade recorded strong recovery with revenue growth at mid-twenties after a muted second quarter due to Covid-19 induced-lockdowns.
Revenue growth in both metros and small towns stood at high double digit.
Maggi noodles and Maggi Masala‐ae‐Magic posted healthy growth while Maggi sauces reported muted growth due to decreased in‐home consumption, high base and increased competitive intensity.
Milk products and nutrition (toddler range and milk made), confectionary (power brands; Kitkat, Munch, Milkybar) and beverage (Nescafe) grew at double digit.
Gross margin contracted for the first time after four consecutive expansions due to high input cost.
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