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Nestle India Q1FY23 PAT up 24.7% at Rs737cr on robust sales growth

Apr 25, 2023

By: BlinkX Research Team

Nestle India reported 21% growth in total sales revenues for the March 2023 first quarter on consolidated basis at Rs4,831cr. Quarterly revenues grew 13.5% in sequential terms. All the product groups of Nestle India had delivered double-digit growth in the March 2023 quarter (Q1FY23).

This includes confectionaries like Nestle and Munch; coffee products like Nescafe Gold, Nescafe Classic and Nescafe Sunrise as well as Milkmaid. The company also reported smart growth in ecommerce sales as well as in quick commerce delivery. Both domestic sales and export sales grew at 21% and 24% respectively on a yoy basis.

Financial highlights for Mar-23 compared yoy and sequentially

	Nestle India
Rs in Crore	Mar-23	Mar-22	YOY	Dec-22	QOQ
Total Income (Rs cr)	₹ 4,830.53	₹ 3,992.64	20.99%	₹ 4,256.79	13.48%
Operating Profit (Rs cr)	₹ 1,008.04	₹ 827.52	21.81%	₹ 892.03	13.01%
Net Profit (Rs cr)	₹ 736.64	₹ 590.77	24.69%	₹ 628.06	17.29%

Diluted EPS (Rs)	₹ 28.52	₹ 23.95		₹ 23.34
OPM	20.87%	20.73%		20.96%
Net Margins	15.25%	14.80%		14.75%

Consolidated Profit after tax (PAT) for March 2023 quarter was up 24.7% at Rs736.64cr on the back of robust sales growth. Despite spike in raw material and logistics costs, the company managed to maintain its operating margins stood steady at close to 21%.

Net margins have improved on a yoy basis and on a sequential basis. The company has also declared an interim dividend of Rs27 per share. This will be paid along with the final dividend for 2022 at Rs75 per share.