FMCG major Nestle India on Thursday said the suspension of the MFN (most favoured nation) clause granted to India by Switzerland will have 'no impact' on the company. The suspension of MFN status under the Double Taxation Avoidance Agreement (DTAA) is a policy issue between the government of India and Switzerland and is not 'Nestle-specific', the FMCG firm said in a statement. Nestle India, which owns popular brands such as Maggi, Nescafe and KitKat, said the company was already "deducting 10 per cent withholding tax" on cross-country payments. Earlier on December 11, the Swiss government had announced the suspension of the MFN status granted to India following a ruling by the Supreme Court of India, which in a judgement last year had said MFN status under the DTAA cannot be enforced unless notified under Section 90 of the Income Tax Act. This judgement of the apex court had come in a case related to Nestle, where it overturned an earlier order passed by the Delhi High Court in 202
Sensex hit 79,020 in intra-day trade today, falling 3.79 per cent or 3,113.12 points in four trading days from the level of 82,133 touched on Friday, December 13
The repercussions continue to weigh on the Swiss company's revenue after shoppers switched to cheaper, better advertised or more innovative brands, eating into Nestle's market share
A health rating system found that the average score for products across 30 companies was 1.8 out of 5 for low-income countries, while it was 2.3 for high-income countries
Rising food inflation leading to sluggish FMCG demand
The firm to launch 14 'no-refined sugar' variants of Cerelac next month, on the heels of allegations that the brand added sugar to its baby foods in low and middle income countries
FMCG major Nestle India on Thursday said it will soon launch variants "with no refined sugar" of its infant food Cerelac. The announcement is important as Nestle India, part of Swiss multinational Nestle SA, recently faced criticism for having added sugar in Cerelac. In the company's earnings statement CMD Suresh Narayanan said: "We have achieved our ambition of introducing Celerac variants with no refined sugar." This was initiated three years ago and culminated this year with the introduction of new Cerelac variants with no refined sugar, he added. "The expanded Cerelac range in India will now consist of 21 variants, of which 14 variants will have no refined sugar," he said. Of these 14 variants, 7 will be available by end of November 2024 and the rest will be introduced in the coming weeks, he added. In April this year, Public Eye, a Swiss investigative organisation, and the International Baby Food Action Network (IBFAN), alleged that Nestle added sugar to its Cerelac products
The company confirmed that seven of the 14 sugar-free versions will be available in Indian stores by the end of November, with the remaining seven set to be introduced in the following weeks
FMCG major Nestle India Ltd on Thursday reported a marginal decline of 0.94 per cent in its net profit at Rs 899.49 crore for the quarter that ended September 2024, in which it faced high commodity prices and some of its key brands faced softer consumer demand. The company had posted a net profit of Rs 908.08 crore in the July-September period a year ago, according to a regulatory filing from Nestle India. However, Nestle India's revenue from the sale of products was up 1.3 per cent to Rs 5,074.76 crore in the September quarter. It was at Rs 5,009.52 crore in the corresponding period last fiscal. Its total expenses in the September quarter were up 3.42 per cent to Rs 4,090.09 crore. Nestle India's domestic sales were up 1.23 per cent to Rs 4,883.14 crore, as against Rs 4,823.72 crore in the corresponding period of July-September. Its revenue from exports was also up 3.13 per cent to Rs 191.62 crore in the September quarter. Nestle India's revenue from operations, which includes o
Nestle India reported a consolidated net profit of Rs 899.49 crore for the September quarter, compared to Rs 908.08 crore a year ago
Nestle India Q2 results preview: Investors will monitor the demand outlook on rural against urban, competitive intensity and raw material trends for Nestle India
Tiwary, who was the country manager of Amazon India, was appointed as the Managing Director of Nestle India effective from August 1, 2025, according to a regulatory filing
FMCG major Nestle India on Monday announced a change of leadership with the appointment of Manish Tiwary as the Managing Director of the company after the incumbent, Suresh Narayanan, retires in July next year. Tiwary, who was the country manager of Amazon India, was appointed as the Managing Director of Nestle India effective from August 1, 2025, according to a regulatory filing. Narayanan will retire as Chairman & Managing Director of Nestle India on July 31, 2025 after serving 26 years, it added. The nominations have been received from the Swiss parent firm Nestle SA. However, "the proposal is subject to necessary approval," said Nestle India. Tiwary is a Director at Amazon Digital Services and More Consumer Brand. He will step down from his directorship on October 30, 2024, the statement said. Tiwary, an alumnus of IIM Bangalore has nearly three decades of experience in leading large-scale operations and strategic initiatives in e-commerce and consumer goods sector. He join
Among existing gainers, Divi's Lab and Shriram Finance seem poised for further gains, whereas losers IndusInd Bank and Nestle too look promising on technical charts; check key levels.
With India's economy expanding at the fastest pace among major emerging markets, companies are trying to serve its diverse palette
Nestle has been focusing on "RURBAN" and expanding its distribution reach. E-commerce continued to deliver double-digit growth
The company had reported a net profit of Rs 698.3 crore in the year-ago period
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.
Company declares interim dividend of Rs 2.75 per equity share, final dividend of Rs 8.5 per equity share