Nestle Maggi

There has been a dramatic change in the tone and tenor of FSSAI, and the Indian food regulator has now become more pro-active and industry-centred with fast responses in the last decade, said Nestle India Chairman and Managing Director Suresh Narayanan. Moreover, with the setting of more NABL-accredited laboratories by different leaders of FSSAI, the credibility of the testing process has also increased, said Narayanan, who led Nestle India after the Maggi crisis, which unfolded almost a decade back. In June 2015, FSSAI banned Maggi noodles for allegedly containing lead beyond permissible limits, forcing the company to withdraw the product from the market. Industry observers opine that only after the Maggi crisis did the FSSAI come into the limelight across the country though it was established almost seven years ago, in September 2008, to lay down science-based standards for food articles and rules and regulations. Nestle India relaunched Maggi in November 2015 after the ban was .

At 6:30 AM, GIFT Nifty Futures were trading about 103 points lower at 24,741, suggesting a gap-down start for Indian markets.

In July, Nestle had said it expected full-year organic sales growth of at least 3 per cent and that its UTOP margin for 2024 would grow moderately

Nestle India Q2 results preview: Investors will monitor the demand outlook on rural against urban, competitive intensity and raw material trends for Nestle India

Brand consultants agree that Maggi has transcended its product category

Throughout his career with the Nestle group, Narayanan has held numerous international leadership roles, spanning markets - Thailand, Cambodia, Myanmar, Laos, Vietnam, Egypt and more

"There is value-seeking behaviour among consumers. There is pressure, especially at the low-income range," CEO Mark Schneider said in a media call

The fall in the share price came after the company announced its June quarter (Q1FY25) results, which missed street expectations.

Nestle India experienced robust revenue growth during the quarter. The company, analysts believe, gained from enhanced distribution. Thus, it is expected to see margin expansion of over 100 bps.

Nestle India also noted that it sold 4.2 billion fingers of popular chocolate KitKat, making India its second-largest market

In its report dated May 3, Institutional Investor Advisory Services advised shareholders to vote against the resolution to hike royalty payment to its parent

About 70.8% of public shareholders voted against the increase, a filing showed

Chaudhary Group launched the Wai Wai noodle four decades ago in Nepal's capital Kathmandu, and has since grown to become India's third largest brand

The DoCA had alleged that the company had indulged in unfair trade practices by manufacturing and selling hazardous and defective goods to the public

Price points such as Rs 5 and Rs 10 are easier to remember and are perceived as being affordable by customers

On a quarter-on-quarter basis, the revenue for operations was down 3.56%. It was Rs 4,830.53 crore in Q4FY23

An increased preference towards healthier food items has been registered since Covid-19. Consumers are now taking more time to read product labels before going for a purchase

Domestic sales of the maker of Maggi noodles and KitKat chocolates were up 13.9%

The Swiss processed foods maker has significantly upped investments in its Indian subsidiary to expand its penetration in 'rurban' markets

The Maggi noodles maker's profit rose 8.3% to Rs 668 crore ($81.1 million) in the quarter ended Sept. 30