Nirmal Bang: Nestle India Back To Double Digit Growth, Capex Significantly Raised
Packets of Nestle EveryDay Dairy Whitener and Nestea Lemon Iced Tea Premix, both manufactured by Nestle India Ltd., are displayed for sale at a general store in Mumbai, India. (Photographer: Vivek Prakash/Bloomberg)

Nirmal Bang: Nestle India Back To Double Digit Growth, Capex Significantly Raised

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.

Nirmal Bang Report

Nestle India Ltd. has returned to double digit growth, meeting our expectations for Q3 CY20.

The company’s Q3 CY20 revenue grew by just 10.1% YoY to Rs 35.4 billion (versus our estimate 11.5% growth to Rs 35.86 billion).

Domestic sales grew by 10.2% YoY to Rs 33.5 billion while exports (approximately 5% of sales for the quarter) grew by 9.4% YoY to Rs 1.75 billion.

The quarter witnessed growth driven by an improved supply situation, as factories returned to normal output.

Click on the attachment to read the full report:

Nirmal Bang Nestle India- Q3CY20 Result Update - 24 October 2020.pdf


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