HDFC Securities: Nestle India - In-Line Q3 Result; Steady Recovery
The Nestle birds nest logo sits on packets of white sugar on display ahead of a news conference to announce Nestle SA’s full year results in Vevey, Switzerland. (Photographer: Stefan Wermuth/Bloomberg)

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:

HDFC Securities Nestle India Q2FY21 Results Update.pdf


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