Nestle India Ltd Share Price Today - NSE/BSE | direct ICICI (2023)

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Nestlé India Ltd. Q2 23 quarterly results released.

Packaged food company Nestle India announced the results of the second quarter of 23:

• Total sales 4,619.5 million HRK
• Total increase in sales of 15.0%.
• Domestic sales increased by 14.6%
• The operating profit is 20.7% of sales.
• 698.3 million net profit
• Earnings Per Share Rs 72.43

Commenting on the results, Suresh Narayanan, Chairman and CEO of Nestle India, said:"I am pleased to share with you that we once again delivered strong results, with all product groups achieving double-digit growth. This is the fifth consecutive quarter of double-digit growth across ALL product groups. Sales growth Domestic sales was broad and up 14.6%, driven by prudent pricing and supported by mix and volume with targeted brand support.Key brands continued to perform well, led by KITKAT, NESCAFE and MAGGI, among others.

Foreign business continued to deliver strong growth this quarter, driven by a dual strategic focus of portfolio transformation and strong, focused execution of diversified channel and geographic plans to capitalize on significant growth opportunities.

Our RURBAN strategy was supported by increasing the distribution footprint with a relevant portfolio, which achieved greater penetration. We witnessed strong growth in major cities and metropolitan areas, good performance in tier 1-6 cities, and continued strength in rural markets. E-commerce continued to perform well and now accounts for almost 6.5% of sales.

We renewed and really accelerated our focus on the brand and we continue to make related investments during this quarter. The focus on innovation and renewal remains, and as an example, we have introduced three outstanding new products to the Indian market: Resource Fiber Choice, a unique and effective gut health solution that has been shown to help relieve constipation and improve intestinal health. intestinal, Everyday Zero, sugar free. dairy whitener and MUNCH breakfast cereal.

"Make in India" has always been a cornerstone of our industrial footprint strategy and I am pleased to announce that Odisha has been identified as the home state for Nestlé's TENTH factory in India. We have now received "in principle" approval from the Odisha Industrial Promotion and Investment Corporation Limited (IPICOL). Our dream and ambition is also to make the Odisha factory "state of the art" in line with our ongoing commitment to gender diversity, sustainable manufacturing and paperless digital management, with a strong focus on the environment in terms of of practices. Like all of our other plants, the Odisha plant will remain committed to serving local communities through relevant social initiatives.

Dignity, respect and equal opportunity are embedded in the pillars of Nestlé India's "Purpose and Values". I am proud to announce that we have recruited 12 people with disabilities to work on our production line at our Sanand factory. We remain committed to the path of diversity and inclusion in different areas of our business, with the necessary commitment and resources to promote these types of initiatives.

I would like to thank our diverse team who achieve 'Performance with Pride' at Nestlé India through diligence, commitment, ethics, teamwork, compassion and humility: our employees, partners, suppliers, distributors and retailers for their unwavering loyalty and unconditional support in our travel companies in the last decades."

Results in PDF