Packaged Foods company Nestle India announced Q3CY23 results: Financial Performance: - Nestlé India achieved a landmark by crossing Rs 5,000 crore turnover in a quarter, the first in its history. - Total sales growth was 9.4%, with domestic sales growing at 10.3%. - Profit from operations stood at 22.6% of sales. - Net profit for the quarter was Rs 908.1 crore. Business Performance: - The e-commerce channel contributed 6.1% of quarterly sales, experiencing continued growth driven by Quick Commerce. - The organized trade retail channel delivered strong double-digit growth. - The out-of-home business registered strong double-digit volume-led growth. - Export sales expanded with strong demand for MAGGI and NESCAFÉ SUNRISE products. Product Group Performance: - Prepared Dishes and Cooking Aids segment showed growth, driven by market visibility, impactful media campaigns, and innovation for RURBAN markets. - Milk Products and Nutrition segment delivered double-digit growth, supported by the launch of Nestlé a+ Masala Millet and positive response to MILKMAID and PEPTAMEN. - Confectionery segment saw strong growth in key products like KITKAT and MUNCH, backed by media support and digital-first campaigns. - Beverages segment recorded strong growth across NESCAFÉ portfolio, with NESCAFÉ CLASSIC, NESCAFÉ Sunrise, and NESCAFÉ GOLD leading the way. - Petcare business received positive feedback for Felix Wet Cat food. Market Outlook: - Uneven rain and deficit may impact the production and pricing of maize, sugar, oilseeds, spices, and coffee. - Winter weather may affect wheat production, but a healthy milk flush is expected to stabilize milk prices. Dividend and Share Split: - The Board of Directors declared a second interim dividend of Rs 140 per equity share for 2023. - The share capital will be sub-divided/split, subject to shareholder approval, from Rs. 10 per share to Re 1 per share. Commenting on the results, Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “I am pleased to share that we have, yet again, delivered consistent performance almost across all major brands. Domestic sales grew double digits, on account of mix, volume and price. Key brands continued to perform well, led by KITKAT, NESCAFÉ CLASSIC, NESCAFÉ SUNRISE, supported by MUNCH and MILKMAID. We are investing towards building our brand equity and have made strong and significant investments across all product groups. We crossed INR 5,000 crore turnover, which has been our first in any quarter in the history of the Company and a landmark for us." Result PDF