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.
Motilal Oswal Report
Nestle India Ltd. reported sales in line with our estimates. Growth of 9.6% in Q3 2021 on a base of 10.1% in Q3 2020 indicates a healthy demand trend.
In a welcome new disclosure, Nestle's quarterly press release now has commentary on segmental growth, and growth for the quarter seems to be broad based across the four key segments.
On a high Ebitda margin base, operating profit and profit after tax growth came in tepid at 5.9% and 3.2%, respectively, especially as material cost inflation led to the lowest gross margin in 17 quarters in Q3 2021.
The press release indicated commodity costs pressures are likely to persist.
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