Published on 29/07/2020 11:39:41 AM | Source: Angel Broking Ltd

Quote on 1QFY21 results of Nestle India by Amarjeet Maurya, Angel Broking

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Below is the Quote on 1QFY21 results of Nestle India by Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd.

For 2QCY20, Nestle India (NIL) has reported better than expected results both on the top-line and bottom-line front. Top-line grew by ~2% to Rs.3,050cr. Top-line was negatively impacted mainly due COVID-19 lockdown. On the operating front, the company reported margins improvement (up 75bps yoy at 24.5%) mainly due to lower other expenditure. On the bottom-line front, NIL reported growth of ~11% yoy to Rs.487cr due to healthy operating performance and lower taxes. Considering NIL’s strong product portfolio coupled with strong brand and market leadership position, we are positive on stock. 


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