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Nestle India Ltd.

BSE: 500790 Sector: Agri and agri inputs
NSE: NESTLEIND ISIN Code: INE239A01016
BSE LIVE 15:48 | 14 Dec 7879.35 -32.80
(-0.41%)
OPEN

8000.00

HIGH

8001.00

LOW

7777.00

NSE 15:46 | 14 Dec 7876.85 -58.95
(-0.74%)
OPEN

8035.00

HIGH

8039.05

LOW

7815.50

OPEN 8000.00
PREVIOUS CLOSE 7912.15
VOLUME 2831
52-Week high 8001.00
52-Week low 5750.00
P/E 68.56
Mkt Cap.(Rs cr) 75,973
Buy Price 7879.35
Buy Qty 3.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8000.00
CLOSE 7912.15
VOLUME 2831
52-Week high 8001.00
52-Week low 5750.00
P/E 68.56
Mkt Cap.(Rs cr) 75,973
Buy Price 7879.35
Buy Qty 3.00
Sell Price 0.00
Sell Qty 0.00

Nestle India Ltd. (NESTLEIND) - Company History

Nestle India Ltd one the biggest players in FMCG segment has a presence in milk & nutrition beverages prepared dishes & cooking aids & chocolate & confectionery segments. The company is engaged in the food business. The food business incorporates product groups such as milk products and nutrition beverages prepared dishes and cooking aids chocolates and confectionery. Nestle India manufactures products under brand names such as Nescafe Maggi Milkybar Milo Kit Kat Bar-One Milkmaid and Nestea. The company has also introduced products of daily consumption and use such as Nestle Milk Nestle Slim Milk Nestle Fresh 'n' Natural Dahi and Nestle Jeera Raita. The company's brands include milk products and nutrition prepared dishes and cooking aids beverages and chocolates and confectionery. Their milk products and nutrition includes Nestle Everyday Dairy Whitener Nestle Everyday Ghee Nestle Milk Nestle Slim Milk and Nestle Dahi. Beverages Include Nescafe Classic Nescafe Sunrise Premium Nescafe Sunrise Special and Nescafe Cappuccino. Nestle India is a subsidiary of Nestle S.A.The company has presence across India with 7 manufacturing facilities and four branch offices spread across the region. The four branch offices in the country help facilitate the sales and marketing of its products. They are in Delhi Mumbai Chennai and Kolkata. The company's head office is located in Gurgaon Haryana.Nestle India Ltd was incorporated in the year 1956. The company set up their first production facility in the year 1961 at Moga in Punjab. In the year 1967 they set up their second plant at Choladi in Tamil Nadu as a pilot plant to process the tea grown in the area into soluble tea. In the year 1989 they set up a factory at Nanjangud in Karnataka. In the year 1990 the company entered into the chocolate business by introducing Nestle Premium Chocolate. In the year 1991 they entered in joint venture floated by the parent in collaboration with BM Khaitan group to set up facilities to manufacturing a range of Soya based products. In the year 1993 they set up a factory at Samalkha in Haryana. In the year 1995 the company launched the company's worldwide legendary brand chocolate Kitkat. The company commissioned two factories in Goa at Ponda and Bicholim in the year 1995 and 1997 respectively. In the year 1999 the company launched the product Nestle Growing Up Milk nationally. In April 2000 they forayed into the Ultra Heat Treated (UHT) liquid milk market. In the year 2001 the company launched Nestle Pure Life bottled water. Within few months they again launched their second water brand-San Pellegrino - in the Indian market. The company also made their foray into the iced tea segment. In the year 2004 a project has been initiated to upgrade the production technology for infant nutrition products at the Samalkha factory. Nestle India Ltd recognised for its outstanding performance in Exports by the Coffee Board of India in the Export Awards 2004-05 as the Best Exporter of Instant Coffee Best Exporter to Russia & CIS Countries (coffee) and Best Exporter for Far East Countries (coffee). The company bestowed the UDYOG RATNA award by the PHD Chamber of Commerce and Industry to recognise Nestle's significant contribution to the economic development of Punjab for the year 2005. The company set up a new department -the Channel & Category Sales Development (CCSD) to develop new solutions for the various channels and customers and improve the implementation of commercial plans in the market. In the year 2006 the company set up their seventh factory at Pantnagar in Uttarakhand. In the year 2007 CNBC Asia presented the company with the India Innovator of the year award. The company's four factories were awarded the internationally recognised external certification ISO 14001 for adherence to environmental processes and OSHAS 18001 for Health and Safety. In the year 2008 the company launched Nestle Nesvita Pro-Heart Milk with Omega-3 in Mumbai. Nestle Nesvita Pro-Heart is part of daily diet and has Omega-3 heart friendly nutrients scientifically known to help manage cholestrol. As part of their ongoing commitment to offering best in class nutrition products to Indian consumers the company launched NESTLE NAN 3 a follow-up formula for older infants. During the year MAGGI PICHKOO Tomato Ketchup was launched in a unique easy to handle day pack to drive affordability taste and convenience for a larger number of consumers. The company also launched another pioneering product MAGGI Bhuna Masala to cook tasty and healthy everyday meals more conveniently. The company also launched Nestle Kitkat Mini and Nestle Bar One Mini at Rs 3 price to expand the repertoire of offerings. Similarly they launched Nestle Kitkat Chunky at Rs15 to strengthen the range of wellness oriented Nestle products that consumers can choose from. The company's three more factories were awarded the internationally recognized external certification ISO 14001 for adherence to environmental processes and OSHAS 18001 for Health and Safety. With this all the seven factories of the company now have ISO 14001 and ISO 18001 certifications.In the year 2009 the company provided inputs to the group R&D for development of an innovative product Maggi Bhuna Masala. They launched Maggi Nutri-Licious Pazzta. During the year Maggi further leveraged their strengths to drive affordable nutrition and launched two new products namely Maggi Rasile Chow and Maggi Masala-ae-Magic. They launched Nestle Kitkat in a new unique single finger format and Nestle Much Guru pack at the higher price point.The company acquired the Healthcare Nutrition business of Speciality Foods India Pvt Ltd with effect from January 1 2010. In 2011 Nestle opens new plant in Karnataka investing Rs 360 cr. In 2013 the company reviews the General Licence Agreement. The company also acquires 26% minority stake in indocon agro and allied activities pvt ltd. The company commences export of noodles sauces from New Mangalore Port.In May 2015 Food Safety Regulators from the Uttar Pradesh India found that samples of Nestle leading noodles Maggi had up to 17 times beyond permissible safe limits of lead in addition to monosodium glutamate. On 3 June 2015 New Delhi Government banned the sale of Maggi in New Delhi stores for 15 days because it found lead and monosodium glutamate in the eatable beyond permissible limit.The Gujarat FDA on 4 June 2015 banned the noodles for 30 days after 27 out of 39 samples were detected with objectionable levels of metallic lead among other things. Some of India's biggest retailers like Future Group Big Bazaar Easyday and Nilgiris have imposed a nationwide ban on Maggi. Thereafter multiple state authorities in India found unacceptable amount of lead and it has been banned in more than 5 other states in India. On 5 June 2015 Food Safety and Standards Authority of India (FSSAI) orders banned all nine approved variants of Maggi instant noodles from India terming them unsafe and hazardous for human consumption.[47] In June 2015 Nepal indefinitely banned Maggi over concerns about lead levels in the product. On the same day Food Safety Agency United Kingdom has launched an investigation to find levels of lead in Maggi. Maggi noodles has been withdrawn in five African nations- Kenya Uganda Tanzania Rwanda and South Sudan by a super-market chain after a complaint by the Consumer Federation of Kenya as a reaction to the ban in India.On August 2015 Govt of India made public that it was seeking damages of nearly $100 million from Nestle India for unfair trade practices following the June ban on Maggi noodles. The 6400 million rupee suit was filed with the National Consumer Disputes Redressal Commission (NCDRC) regarded as the country's top consumer court but was settled on 13 August 2015. The court ruled that the government ban on the Nestle product was both arbitrary and had violated the principles of natural justice. Although Nestle was not ordered to pay the fine requested in the government's suit the court ruled that the Maggi noodle producers must send five samples from each batch of Maggi [noodles] for testing to three labs and only if the lead is found to be lower than permitted will they start manufacturing and sale again. The ban has been repealed by the Government of India with effect from the end of 2015 after the company cleared court directed safety tests. But a few states still needs to lift their versions of the ban after newer tests. the company resumed manufacturing at Pantnagar (Uttarakhand) Factory and also resumes manufacturing of MAGGI at Tahliwal HP unit.