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    Nestle’s superior working capital management gives it an edge over peers

    Anubhav Sahu
    February 18, 2020 / 01:45 PM IST
    Nestle’s superior working capital management gives it an edge over peers

    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

    Highlights - Double-digit domestic sales growth - EBITDA margin improved although commodity prices were higher - Valuation premium likely to sustain, due to a strong balance sheet and cash conversion cycle Nestle’s (CMP:Rs 16,356 MKT Cap: Rs 157,702 crore) domestic show in its latest quarterly results was ahead of its peers. Steady growth, even in a challenging demand environment, was aided by new launches, aggressive marketing spend and distribution expansion. Its current performance is an extension of its transformation, after the food safety crisis faced by its...

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