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Nestle India: Double-digit growth across categories

With prices softening for some of the commodities, we expect margin recovery from the September 2022 quarter

July 29, 2022 / 09:27 AM IST
Nestle India: Double-digit growth across categories

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The Q2CY22 performance of Nestle India (Nestle; CMP: Rs 19,104; Market capitalisation:  Rs 1,84,197 crore) was in line with Street expectations. Nestle has acquired the pet business of Purina Petcare India from Nestle SA (parent entity of Nestle India) for Rs 123.5 crore, valued at almost 3.4x turnover. June 2022 quarter results Domestic sales were broad-based, with a healthy balance of pricing and volume mix, while exports remained flat. Modern trade witnessed growth, albeit on a subdued base, impacted by the...

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