Nestle India Logs Below Estimates Q4 Numbers: IDBI Capital
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IDBI Capital Report
Nestle India Ltd.’s Q4 CY20 result was below our estimates.
Domestic business continued double digit growth momentum however, revenue from export declined due to lower coffee exports.
Key brands like Maggi noodles, Kitkat and Nescafe continued to record strong revenue growth.
Business recovery for out-of-home-consumption products improved sequentially but continues to remain below pre-Covid-19 levels.
Deflationary raw material environment supports gross margin expansion for second consecutive quarter.
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