Nestle India - 1QFY21 - Angel Broking

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.

Shares of NESTLE INDIA LTD. was last trading in BSE at Rs.17098.95 as compared to the previous close of Rs. 17343.9. The total number of shares traded during the day was 5573 in over 2274 trades.

The stock hit an intraday high of Rs. 17447.35 and intraday low of 17025. The net turnover during the day was Rs. 95975102.

Source : Equity Bulls

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