In a world where numbers tell the story of success, Nestle India just penned a remarkable chapter. Picture this: crossing the Rs 5,000 crore milestone in quarterly turnover, a first in the company’s history. But what truly makes this story captivating is the plot beneath the numbers—a tale of innovation and sustainability that’s rewriting the rulebook for the industry. Nestle India’s Q3 2023 results are more than financial figures; they’re the embodiment of a commitment to quality, responsibility, and a future we can all savour.
Nestle India’s shares, priced at Rs 24,160 each, ranked as the seventh highest-priced stock in India. In a move to make it more accessible to a broader range of investors, the company, for the first time in two decades, has announced a stock split at a ratio of 1:10, subdividing each share into 10.
In its Q3 2023 results, Nestle India has set a new benchmark for its quarterly performance. Crossing the Rs 5,000 crore turnover threshold is not only a testament to Nestle’s strength but also an industry milestone. The achievement is a testament to the company’s unwavering commitment to excellence and continuous growth.
Nestle India’s success story isn’t just about numbers. It’s about their focus on innovation and introducing new products that resonate with consumers. Throughout the year, the company accelerated its innovation and renovation efforts, launching numerous new products that cater to evolving consumer preferences.
“On October 7, 2023, the GST Council, as reported by news agency ANI, made a notable decision to reduce the GST rate on millet flour food preparations from the existing 18% to a significantly lower 5%.”
One shining example of this innovation is the Nestle a+ Masala Millet with bajra breakfast cereal. This product is not just delicious; it’s also an environmentally responsible choice. Made with millets, it represents a more sustainable food source compared to traditional grains. Nestle India is committed to fostering a sustainable food portfolio across its brands, offering consumers both taste and conscientious choices.
Nestle India’s dedication to sustainability shines through in its Q3 2023 results. The company has doubled its investments in sustainability across various fronts, including dairy, plastics, and sustainable sourcing. These investments underscore Nestle’s pledge to contribute to a more sustainable world. Efforts to reduce methane emissions and provide renewable energy to farming households are some of the many steps taken toward achieving this goal.
One of the cornerstones of Nestle India’s success is its RURBAN strategy. This strategic approach focuses on deepening the company’s presence in under-penetrated small towns and large villages. By targeting these markets, Nestle India taps into substantial growth potential and bolsters its connection with a diverse range of consumers.
Nestle India’s Chairman and Managing Director, Suresh Narayanan, emphasizes that the success isn’t just about numbers but is equally about providing quality. He notes that key brands like KITKAT, NESCAFÉ CLASSIC, NESCAFÉ SUNRISE, MUNCH, and MILKMAID have consistently delivered strong performances.
Narayanan adds, “We are investing towards building our brand equity and have made strong and significant investments across all product groups.” These investments, along with a relentless commitment to product quality, have contributed to Nestle India’s rise to the top.
Nestle India’s remarkable Q3 2023 performance stands as a testament to the power of innovation and sustainability. By consistently delivering new and eco-conscious products and committing to sustainability across various aspects of the business, Nestle India demonstrates a holistic approach to business excellence.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions
Published on: Oct 19, 2023, 4:10 PM IST
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