Nestle India Q1 Review - Domestic Business Continues Double Digit Growth Momentum: IDBI Capital 
The company birds nest logo sits carved in stone on an exterior wall outside the Nestle headquarters (Photographer Michele Limina/Bloomberg)

Nestle India Q1 Review - Domestic Business Continues Double Digit Growth Momentum: IDBI Capital 

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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.

IDBI Capital Report

Nestle India Ltd. reported in-line results in Q1 CY21 driven by strong double digit growth momentum in domestic business (third consecutive quarter) while revenue from exports continues to decline.

Key brands like Maggi noodles, Kitkat, Nescafe Classic, Maggi Sauce, Milkmaid, Maggi Masala Magic grew by double digits during the quarter driven by higher in-home consumption.

Revenue from e-commerce grew 66%YoY.

Gross margin expanded for third consecutive quarter however, management highlights inflation in the cost of raw material to be key challenge going forward.

Dividend announcement of Rs 25 per share is positive.

Click on the attachment to read the full report:

IDBI Capital Nestle India Q1CY21 Result Review .pdf

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