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Nirmal Bang Report
Nestle India Ltd. has returned to double digit growth, meeting our expectations for Q3 CY20.
The company’s Q3 CY20 revenue grew by just 10.1% YoY to Rs 35.4 billion (versus our estimate 11.5% growth to Rs 35.86 billion).
Domestic sales grew by 10.2% YoY to Rs 33.5 billion while exports (approximately 5% of sales for the quarter) grew by 9.4% YoY to Rs 1.75 billion.
The quarter witnessed growth driven by an improved supply situation, as factories returned to normal output.
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