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Nestle India

Company Profile
Nestle India is a subsidiary of Nestle S.A. of Switzerland. Nestle India manufactures
a variety of food products such as infant food, milk products, beverages, prepared
dishes & cooking aids, and chocolates & confectionary. Some of the famous brands
of Nestle are NESCAFE, MAGGI, MILKYBAR, MILO, KIT KAT, BAR-ONE, MILKMAID,
NESTEA, NESTLE Milk, NESTLE SLIM Milk, NESTLE Fresh 'n' Natural Dahi and NESTLE
Jeera Raita.

Nestle was founded in 1867 in Geneva, Switzerland by Henri Nestle. Nestle's first
product was "Farine Lactee Nestle", an infant cereal. In 1905, Nestle acquired the
Anglo-Swiss Condensed Milk Company. Nestle's relationship with India started 1912,
when it began trading as The Nestle Anglo-Swiss Condensed Milk Company (Export)
Limited, importing and selling finished products in the Indian market.

After independence, in response to the then economic policies, which emphasized


local production, Nestle formed a company in India, namely Nestle India Ltd, and set
up its first factory in 1961 at Moga, Punjab, where the Government wanted Nestle to
develop the milk economy. In Moga, Nestle educated and advised farmers regarding
basic farming and animal husbandry practices such as increasing the milk yield of
the cows through improved dairy farming methods, irrigation, scientific crop
management practices etc. Nestle set up milk collection centres that ensured
prompt collection and paid fair prices. Thus, Nestle transformed Moga into a
prosperous and vibrant milk district.

In 1967, Nestle set up its next factory at Choladi (Tamil Nadu) as a pilot plant to
process the tea grown in the area into soluble tea. Nestle opened its third factor in
Nanjangud (Karnataka) in 1989. Thereafter, Nestle India opened factories in
Samalkha (Haryana), in 1993 and two in Goa at Ponda, and Bicholim in 1995 and
1997 respectively. Nestle India is now putting up the 7th factory at Pant Nagar in
Uttarakhand.

Today, Nestle is the world's largest and most diversified food company. It has
around 2,50,000 employees worldwide, operated 500 factories in approximately
100 countries and offers over 8,000 products to millions of consumers universally.

Company Profile: Nestle India Limited


Ticker: NSLE
Exchanges: BOM
2008 Sales: 43,242,000,000
Major Industry: Food & Beverages
Sub Industry: Miscellaneous Food
Country: INDIA
Employees: 4709
Business Description
Nestle India Limited. The Company's principal activities are to manufacture and distribute food products.
Food products include milk and nutrition, beverages, coffee blends, tea, cream, chocolate, cereals and
cooking aids. The Company's plants are located at Moga, Samalkha, Nanjangud, Choladi, Ponda, Bicholim
and Pantnagar. The products of the Company are exported to Russia, Nepal and Bhutan.

Brief Financials (in Rs. Mn.) Detailed Quarterly

Period ending (months) 30-Jun-2009(6) 31-Dec-2008 (12) 31-Mar-2008 (12)


Net sales 24753.60 43242.40 10909.10
Other Income 87.50 230.20 62.60
Total Income 24841.10 43472.60 10971.70
Cost of goods sold 19305.70 34802.90 8518.50
OPBDIT 5535.40 8669.70 2453.20
PAT 3593.20 5340.80 1601.50
Gross Block - - -
Equity capital 964.20 964.20 964.20
EPS (Rs.) - 55.39 16.61
DPS (Rs.) - - -
BV (Rs.) - - -
P/E range (x) - 22.03 - 33.94 72.25 - 100.89
Debt / Equity (x) - - -
Operating margin (% of OI) 22.3 19.9 22.4
Net margin (% of OI) 14.5 12.3 14.6
Curr.Quarter 30- Prev.Quarter 31- Corr.Quarter 30-
As on (Months) %OI %OI %OI
Jun-09(3) Mar-09(3) Jun-08(3)
Sales of
12095.10 99.72 12658.50 99.58 10356.30 99.36
Products/Services
Other Income 33.70 0.28 53.80 0.42 67.10 0.64
100.0 100.0 100.0
Total Income b 12128.80 12712.30 10423.40
0 0 0
Raw Material
5397.20 44.50 6035.70 47.48 4904.80 47.06
Consumed
Employee Expenses 1099.60 9.07 873.60 6.87 801.80 7.69
Power & Fuel 0.00 0.00 0.00 0.00 0.00 0.00
Other Expenses 2776.50 22.89 2816.60 22.16 2470.10 23.70
Total Expenses 9638.90 79.47 9666.80 76.04 8406.10 80.65
OPBDIT 2489.90 20.53 3045.50 23.96 2017.30 19.35
Interest 5.70 0.05 1.60 0.01 13.80 0.13
Depreciation 264.00 2.18 256.00 2.01 223.60 2.15
Extra incomes 0.00 0.00 0.00 0.00 -31.00 -0.30
Prior Period inc 0.00 0.00 0.00 0.00 0.00 0.00
Prov. for Tax 654.20 5.39 864.20 6.80 538.00 5.16
Profit after Tax 1620.20 13.36 1973.00 15.52 1210.90 11.62
Equity 964.20 -- 964.20 -- 964.20 --
Reserve 0.00 -- 0.00 -- 0.00 --
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Notes
Status of Investor Complaints for the quarter ended June 30, 2009

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 08

Complaints disposed off during the quarter 08

Complaints unresolved at the end of the quarter Nil

1. Net Sales have increased by 16.8%. Net Domestic Sales have increased by 19.7% on account of
both volumes and realisations. Export Sales are lower by 13.5% largely on account of lower exports to
Russia and Bangladesh, partially offset by improved realisations due to the depreciation of the Indian
Rupee against the US Dollar.

2. Increase in Other operating Income is due to export incentives, favourably impacting the operating
margins.

3. The expansion in operating margin is largely due to improved net realisations partially offset, by a
net increase in commodity prices (Milk Solids and Sugar) and higher costs arising from review of
actuarial assumptions For retirement benefits.

4. Other Income has decreased largely due to lower market rates of return.

5. The Net Profit margin has been positively influenced by tax benefits and export incentives.
6. Provision for Contingencies (Net) for matters related to Operations and Others result mainly from
matters relating to litigation/dispute in accordance with the Accounting Standard on Provisions,
Contingent Liabilities and Contingent Assets (AS-29).

7. As the Company?s business activity falls within a single primary business segment, namely Food,
the disclosure requirements of Clause 41 of the Listing Agreement in terms of Accounting Standard on
Segment Reporting (AS 17) are not applicable.

8. Previous period?s figures have been regrouped/reclassified wherever necessary, to make them
comparable.

9. The above results and this release have been reviewed by audit committee of the Board and
approved by the Board of Directors at their meeting held on July 30, 2009.