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Nestle India Ltd. Annual Report 2021
60758_rns_2021-02-16_e55d5a6d-6694-42dc-8484-011911f354e4.pdf
Annual Report
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Nestle India Limited
(CIN : L 15202DL 1959PLC003786) Nestle House Jacaranda Marg 'M'Block, DLF City, Phase- II Gurugram - 122002, Haryana Phone 0124 - 3940000 E-mail: [email protected] Website www.nestle.in
BM:PKR: 05:21 16.02.2021
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code: 500790
- Subject 1 Regulation 33 of Listing Regulations : Audited Financial Results for 2020
- 2. Regulation 30 of Listing Regulations
- Final Dividend for 2020 recommended Rs 65.00 per equity shares of Rs 10I• each.
- 62nd Annual General Meeting on Friday, 7th May 2021 through Video Conferencing I Other Audio Visual Means (VCI OAVM).
- 3. Regulation 42 of Listing Regulations : 62nd Annual General Meeting ('62nd AGM') and Book Closure.
Dear Sir,
1. Audited Financial Results 2020
The Board of Directors at their meeting held today:-
- a) approved the audited financial results for the year ended 31 st December 2020. Enclosed are the audited financial results along with the Report of the Auditors thereon and the declaration in respect of Audit Reports with unmodified opinion for the Financial Year ended 31 st December 2020. The audited financial results shall be published in newspapers as required. Also, find enclosed Press Release relating to the results. The above are being uploaded on the Company's website ;
- b) approved the Financial Statements of the Company for the year 2020 including Balance Sheet as at 31 st December 2020 and Statement of Profit and Loss and the Cash Flow Statement for the year ended on that date.
2. Final Dividend recommended
The Board of Directors recommended final dividend for the year 2020 of Rs. 65/- (Rupees sixty five only) per equity shares of Rs. 10/- each.
3. Annual General Meeting and Book Closure
At the Board Meeting held today, the Board of Directors also approved the convening of 62nd AGM of the Company on Friday, 7th May 2021 through Video Conferencing/ Other Audio Visual Means (VC/ OAVM).
The Register of Members and Share Transfer Books of the Company shall remain closed from 1st May 2021 to ?+Ji May 2021 (both days inclusive) for the purpose of Annual Closing and determining entitlement of the members to the final dividend for 2020. The final dividend, if approved by the shareholders at 62nd AGM, shall be paid on and from 20th May 2021. Intimation of Annual Book Closure is enclosed. Soft copy of the Annual Report and Notice of the 62nd AGM shall be sent in due course. The same shall also be uploaded on the Company's website.
The meeting of the Board of Directors commenced at 15.00 hours and above agenda items concluded at 17.00 hours.
Thanking you, Yours truly,
B. MURLI ~
GENERAL COUNSEL & COMPANY SECRETARY Encl.: as above
Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 11 O 001
Press Release
Nestlé House, 16th February 2021
Nestlé India Shows Resilience Despite COVID-19 Pandemic, Delivers Robust Performance
Nestlé India - Full Year, 2020:
- Total Sales of INR 13,290 Crore
- Domestic Sales Growth at 8.5%
- Profit from Operations at 21.7% of Sales
- Net Profit of INR 2,082 Crore
- CSR Spend INR 46.42 Crore
- Enables contribution to exchequer of INR 3,531 Crore
- Net Cash generated from Operating Activities at INR 2,454 Crore
- Earnings Per Share of INR 215.98
- Final Dividend recommended INR 65.00 per equity share
- Total Dividend including final dividend INR 200.00 per equity share
Key Highlights:
- Strong domestic sales growth, broad based and largely driven by volume and mix.
- Nearly two thirds of our key products, boosted by in home consumption, posted double digit growth.
- Innovation and Renovation pipeline continues to be a thrust area.
- Demand in Out of Home channels continues to improve.
- E-Commerce grew by 111% and now contributes 3.7% of domestic sales.
The Board of Directors of Nestlé India today approved the results for the fourth quarter and full year 2020. Commenting on the results, Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India said, "The year gone by has truly demonstrated the unwavering commitment to stay the course on our purpose and values. Our employees, partners, suppliers,stakeholdersindeed our entire eco system went beyond the call of duty and made extraordinary efforts in an exceptionally challenging year. I will always remain grateful for their efforts and sacrifices in these unusual times and our results are tribute to their determination.
Under these circumstances, I am pleased to share that we delivered strong domestic sales growth. Nearly two thirds of our key brands like MAGGI Noodles, KITKAT and NESCAFÉ Classic posted double digit growth last year. This was backed by a step up in marketing spends, especially in the last quarter. Our innovation and renovation pipeline continued to be a thrust area across categories like Foods, Breakfast Cereals and Nestlé Health Sciences. E-commerce continued to grow, surge ahead and now contributes 3.7% of domestic sales. We embraced the consumers digital journey with numerous innovative initiatives across brands and launched Ask Nestlé in Hindi.
As a Company, we built resilience in the milk suppliers and small businesses who deal with us by ensuring timely payments and in some cases buying beyond our needs. We had a number of initiatives, for the community, public health and the youth to help combat the COVID-19 pandemic.
After initial challenges due to the pandemic, the demand in Out of Home channels has continued to improve, sequentially over quarters and we remain confident of its recovery. Looking forward, protecting and preserving our planet is woven into the purpose of our organization, and at Nestlé India we have been accelerating our actions towards reducing greenhouse gas emissions across our value chain. Our ambition is to achieve 100% recyclable or reusable packaging by 2025. We are working towards shaping a waste-free future and driving new behaviour."
Highlights for the quarter and year ended 31 December 2020:
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- Total Sales and Domestic Sales for the year increased by 8.1% and 8.5% respectively. Domestic Sales growth is largely driven by volume & mix and is broad based. Demand in Out of Home channel was impacted throughout the year due to COVID. Export Sales growth at 1.4% impacted by lower coffee exports.
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- Total Sales and Domestic Sales for the quarter increased by 9.2% and 10.1% respectively. Domestic Sales growth is broad based largely driven by volume & mix. Demand in Out of Home channel further improved in the quarter but continues to be impacted by COVID. Export Sales were lower by 7.7% due to lower coffee exports.
Dividend:
The Board of Directors have recommended a final dividend of INR 65.00 per equity share amounting to INR 6,267.0 million for the year 2020. The total dividend for 2020 aggregates to INR 200.00 per equity share which includes one interim dividend of INR 135.00 per equity share paid on 20 November 2020. The final dividend is subject to approval by the shareholders at the ensuing Annual General Meeting of the Company and therefore has not been recognised as a liability as at the balance sheet date in line with Ind AS 10 on "Events after the Reporting Period".
For more information:
Ambereen Ali Shah, Nestlé India, +91 9717022731
Shashank Kumar Nair, Nestlé India, + 91 9818077775
Nestlé India Limited, Head Office: Nestlé House, Jacaranda Marg, M Block, DLF City Phase – II, Gurugram 122 002 (Haryana) Phone: +91-124-3321824, Fax: +91-124-2389381
Registered Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi – 110001
Corporate Identity Number: L15202DL1959PLC003786
Email ID: [email protected] / [email protected] (with a CC to [email protected]);
Website: www.nestle.in