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