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Consumer Non-Durables

Nestle India Ltd.

Company Background

Nestle India is a subsidiary of the world's largest food and beverage company, Swiss-based Nestle. The parent company, together with holding company Maggi Enterprises, holds an approximately 63% stake in Nestle India, which has eight factories and four branch offices. In the milk products and nutrition segment, Nestle India contributes nearly 50% of domestic sales.


Suresh Narayanan, who joined the company in 1999, is Nestle India's chairman and managing director since August 2015. A post graduate in economics, he has over 30 years of experience in the consumer goods industry. Before replacing Etienne Benet as managing director in India at the height of Maggi noodle crisis, Narayanan was chairman and CEO of Nestle Philippines. Prior to Nestle, he had stints in Hindustan Unilever and Colgate Palmolive.


Nestle's association with India goes back to 1912, when it began trading as the Nestle Anglo-Swiss Condensed Milk (Export), importing and selling finished products in the Indian market. After India's independence from British rule in 1947, the country's new economic policies stressed local production, leading to Nestle forming a company in India and setting up its first factory at Moga in the northern state of Punjab in 1961 to develop the nation's milk infrastructure. The company's activities in India provide livelihoods for about 1 million people, including farmers and suppliers of packaging materials.


Business Summary

Nestlé India Ltd. engages in the manufacture and sale of food products. The firm offers beverages; breakfast cereals; chocolates and confectionery; dairy; nutrition; foods; vending and food services; imports; exports; and Nestle ad campaigns brands. It operates through the India and Outside India geographical segments. The company was founded in 1912 and is headquartered in Gurgaon, India.

Financial Highlights

Dec 2022 INRUSD
Gross Profit63,215.20M803.97M
Operating income33,525.10M426.37M
Income before tax32,559.70M414.09M
Net income23,905.20M304.02M
Diluted EPS247.933.15
Dividends Per Share1952.48
Total Assets91,165.50M1,101.96M
Total liabilities66,400.30M802.61M
Total equity24,591.70M297.25M
Operating cash flow28,385.30M361.00M
Currency in INRCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 112,364.50M 123,172.60M 133,133.80M 146,962.90M 168,315.20M
Gross Profit 46,437.40M 50,158.60M 53,280.40M 58,828.60M 63,215.20M
Operating income 23,169.70M 25,668.70M 28,562.10M 31,569.20M 33,525.10M
Income before tax 24,289.50M 26,734.90M 28,127.90M 28,573.20M 32,559.70M
Net income 16,069.30M 19,684.40M 20,824.30M 21,184.10M 23,905.20M
EBITDA 26,526.40M 29,370.20M 32,265.90M 35,479.40M 37,555.20M
Diluted EPS 166.67 204.16 215.98 219.71 247.93
Dividends Per Share 115 162 225 200 195
Total Assets 82,679.90M 73,174.20M 80,381.90M 83,682.90M 91,165.50M
Total liabilities 45,937.40M 53,981.20M 59,967.60M 64,019.40M 66,400.30M
Total equity 36,737.40M 19,188.70M 20,193.40M 19,463.80M 24,591.70M
Operating cash flow 23,041.20M 25,444.90M 26,036.90M 23,595.10M 28,385.30M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 1,641.75M 1,749.03M 1,796.14M 1,987.71M 2,140.64M
Gross Profit 678.49M 712.24M 718.82M 795.67M 803.97M
Operating income 338.53M 364.49M 385.33M 426.98M 426.37M
Income before tax 354.89M 379.63M 379.48M 386.45M 414.09M
Net income 234.78M 279.51M 280.94M 286.52M 304.02M
EBITDA 387.57M 417.05M 435.30M 479.86M 477.63M
Diluted EPS 2.43 2.89 2.91 2.97 3.15
Dividends Per Share 1.68 2.30 3.03 2.70 2.48
Total Assets 1,184.27M 1,025.16M 1,100.10M 1,125.74M 1,101.96M
Total liabilities 657.98M 756.27M 820.71M 861.22M 802.61M
Total equity 526.21M 268.83M 276.36M 261.83M 297.25M
Operating cash flow 336.65M 361.31M 351.27M 319.12M 361.00M

Valuation Measures

Dec 2022
Operating margin19.91%
Profit margin14.20%

Key executives

  • Chairman & Managing Director: Suresh Narayanan
  • CFO & Executive Director-Control: Boldina Svetlana
  • Director & Executive Director-Technical: Matthias Christoph Lohner
  • Secretary & Compliance Officer: Pramod Kumar Rai
  • Head-Communications Cereals: Rashi Goel


  • Nestle SA (62.7%)
  • Life Insurance Corporation of India (Investment Portfolio) (2.4%)
  • Axis Asset Management Co. Ltd. (1.5%)
  • SBI Funds Management Pvt Ltd. (1.2%)
  • The Vanguard Group, Inc. (1.1%)
  • BlackRock Fund Advisors (0.9%)
  • UTI Asset Management Co. Ltd. (Investment Management) (0.7%)
  • BlackRock Advisors (UK) Ltd. (0.4%)
  • Veritas Asset Management LLP (0.4%)
  • Norges Bank Investment Management (0.3%)

Contact Details

  • Website:
  • Address: Nestlé House, National Highway 8, Jacaranda Marg, M Block, Gurgaon, 122002, India
  • Phone: +91.12.42389300

Related Companies

  • Purina Petcare India Pvt Ltd /Pet Foods Business/
  • Nestle Employees Provident Fund Trust
  • Industrial Surindu SA


    Last Updated on 21 Mar, 2023

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