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 Securities Report
Nestle India Ltd.'s domestic revenue growth of 10% YoY as steady though unexciting – recovery in some categories (mainly out-of-home) appears to have been partly offset by reduced in-home consumption for select products.
We see near-term (increased) challenges due to inflationary inputs while execution on growth pillars continues.
Our long-term positive view on Nestle India is intact driven by-
structural tailwind from increasing consumer propensity to consume packaged foods,
continued investment behind brands,
renewed focus on distribution expansion, particularly rural and e-commerce and
significant increase in capex (Rs 26 billion planned over CY20-23 which is equal to cumulative capex of CY12-19).
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