HDFC Securities: Nestle India - In-Line Q3 Result; Steady Recovery
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.
HDFC Securities Report
Nestle India Ltd.’s Q3 CY20 was healthy as the company clocked 10% YoY growth (our estimate 8%).
Packaged food category has done well, and the company’s performance in the past two quarters was steady (6.5% YoY growth).
Maggi, Kitkat and Nescafe (in-home consumption) posted double-digit growth.
Exports also bounced back with 9% YoY growth. Gross margin expansion was slower at 54 basis points YoY (58.1%).
Cost control initiatives led to Ebitda growth of 16.5% (our estimate 16%).
Click on the attachment to read the full report:
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.