Nestle India Q1 Review - Double Digit Growth Continues In Domestic Market: Dolat Capital 

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Dolat Capital Report

Nestle India Ltd.’s Q1 CY21 revenues and adjusted profit after tax came in line with our estimates. Domestic business posted 10.2% growth driven by volume and mix.

In-house consumption brands witnessed double digit growth – supported by improved supply situation. Out of home categories continues to report sequential improvement.

E-commerce business (3.8% contribution) witnessed strong acceleration with 66% growth. Exports decreased 12.9% YoY.

Considering niche play and unique positioning in multiple categories, we believe that the stock would continue to command higher premium compared to peers.

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