Growth momentum in domestic business remains robust Nestl India (NIL) continued to maintain its growth momentum during the quarter with strong YoY double digit growth of 10.5% in domestic business backed by aggressive new launches. The company has increased the pace of innovations (61 launches since 2016) out of which 40-45 have been successful, resulting in ~70% successful innovations with only 10% of total being product withdrawals. Contribution to sales from new launches has grown from 1.5% to 3.7% over the last three years. We believe aggressive...