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Nestle India continues to deliver volume led growth, to launch Organic Food Products

Posted On: 2019-05-15 09:39:21

Nestle India - Q1 2019

- Total Sales of INR 2,982 Crore
- Total Sales Growth at 9%. Domestic Sales Growth at 10.2%.
- Profit from Operations at 22.5% of Sales
- Net Profit of INR 463 Crore
- Earnings Per Share of INR 48.05

The Board of Directors of Nestle India met today at Nestle House and approved the results for the first quarter of 2019. Commenting on the results, Mr. Suresh Narayanan, Chairman and Managing Director, Nestle India said, "We have continued on the track of volume led growth with our iconic brands like MAGGI, KITKAT and Nestle MUNCH delivering strong performances. The market momentum remained strong, while the input costs have witnessed hardening. I am delighted to share that in line with our vision to provide exciting options rooted in nutrition, health and wellness, we will be launching Organic Food Products in the category 'Milk Products and Nutrition' in the coming months.

I am pleased with the progress made in our Nestle Business Excellence (NBE) journey. NBE will provide fuel for growth for the business to leverage the Company's size and capabilities. Towards this a state of the art facility has been operationalized in Gurugram, with adequately trained manpower."

Highlights for the quarter ended 31 March 2019:

Total Sales increased by 9.0%. Domestic Sales increased by 10.2% supported by volumes. Export Sales dropped by 8.9% due to lower coffee exports to Turkey.

Dividend:

The Board of Directors had declared on 25th April 2019, an interim dividend for 2019 of INR 23.0 per equity share (Face value INR 10/- per equity share) amounting to INR 222 Crore, which will be paid on and from 15th May 2019.

Shares of NESTLE INDIA LTD. was last trading in BSE at Rs.10214.7 as compared to the previous close of Rs. 10316.55. The total number of shares traded during the day was 2479 in over 646 trades.

The stock hit an intraday high of Rs. 10316.9 and intraday low of 10126.45. The net turnover during the day was Rs. 25293906.


Source: Equity Bulls

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