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Nestle India Ltd (NEST.NS)

NEST.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Nestle India sets interim dividend of 16 rupees/share
Sunday, 4 Dec 2016 11:28pm EST 

Nestle India Ltd :Says declared third interim dividend of INR 16 per equity share for year 2016.  Full Article

Nestle India Sept qtr profit surges
Friday, 28 Oct 2016 09:30am EDT 

Nestle India Ltd : Nestle India Ltd - sept quarter net profit 2.69 billion rupees . Nestle India Ltd - sept quarter net sales 23.46 billion rupees . Nestle India Ltd - net profit in sept quarter last year was 1.24 billion rupees; net sales was 17.36 billion rupees . Nestle India Ltd says newly launched maggi hot heads range has accclerated growth .Nestle India Ltd says net sales for quarter up by 35.1 percent on a base impacted by maggi noodles issue.  Full Article

Nestle India posts June-qtr profit
Friday, 29 Jul 2016 07:19am EDT 

Nestle India Ltd : June-quarter net profit 2.31 billion rupees . June-quarter net sales 22.56 billion rupees . Declares second interim dividend of 12 rupees per share . Net loss in June quarter last year was 644 million rupees; net sales was 19.34 billion rupees .  Full Article

Nestle India March-qtr profit down about 19 pct
Thursday, 12 May 2016 06:39am EDT 

Nestle India Ltd : March-quarter net profit 2.59 billion rupees versus net profit of 3.20 billion rupees year ago . March-quarter net sales 22.96 billion rupees versus 25.07 billion rupees year ago . Results for quarter have been impacted by Maggi noodles issue in 2015 . Declared interim dividend of 12 rupees per share .  Full Article

Nestle India Ltd clarifies on NCDRC order on Maggi noodles
Wednesday, 9 Dec 2015 05:51pm EST 

Nestle SA:Clarifies on news item "NCDRC orders retesting of 16 Maggi samples".Says disappointed that commission has given order directing further testing of 16 samples at export inspection laboratory.Reports for all 13 samples provided by consumer affairs ministry were sent to accredited government referral lab CFTRI, Mysore, are still awaited.Says does not add monosodium glutamate to maggi noodles manufactured in India.Maggi noodles contains glutamate from hydrolysed groundnut protein, onion powder and wheat flour.Says monosodium glutamate is present through natural sources "Regulatory authorities do not stipulate any limit for MSG".  Full Article

Nestle India Ltd slams charges, says Maggi 'Pazzta' 100% safe - ASNEWS
Friday, 27 Nov 2015 03:16pm EST 

Nestle India Ltd:Nestle India has slammed charges regarding the lead content in its Maggi 'Pazzta' products and said that the pasta was 100% secure and safe to consume - ASNEWS."MAGGI Pazzta is 100% safe. The finished product and the raw materials used to make it undergo rigorous testing during every stage of the manufacturing process. - ASNEWS.We have seen media reports' claiming that lead has been found in the product and we are investigating," Nestle India said in a statement. - ASNEWS.The company asserted that they have not received any formal notification from UP authorities or Food Safety and Standards Authority of India (FSSAI) about any test result where their samples have failed the test regarding lead content beyond permissible limits - ASNEWS."We regret the confusion that these media reports might be causing. Our products are 100% safe to consume. We will work with the authorities to resolve the situation as quickly as possible," the statement added. - ASNEWS.Earlier, the Food and Drug Administration (FDA) in Uttar Pradesh had stated that tests showed the presence of lead beyond permissible limits in samples of Nestle's 'Pazzta'. - ASNEWS.This controversy comes days after Nestle re-released Maggi Noodles after the FSSAI banned the product terming it "unsafe and hazardous" for human consumption. ( ANI ) - ASNEWS.  Full Article

Nestle India Ltd - India plans to continue class action suit against Maggi - Financial Express - Reuters
Friday, 20 Nov 2015 01:14pm EST 

Nestle India Ltd:The ministry of consumer affairs will continue to pursue its ‘class action’ suit against Nestle’s Maggi noodles in the National Consumer Disputes Redressal Commission (NCDRC) despite the lifting of the ban on the product by the Bombay High Court - FT.A senior ministry official told FE that the next hearing on the case at NCDRC is slated on November 30 - FT.The official said that the apex consumer court is yet to receive the test report of 13 samples of Maggi sent for testing to the Central Food Technological Research Institute (CFTRI), Mysore few weeks back - FT.The consumer affairs ministry few months back had approached the NCDRC against Maggi demanding over INR 640 crore for unfair trade practice for selling “defective and hazardous goods” and punitive damages, including interest at the rate of 18% per annum - RTRS.Nestle’s failure to disclose the presence of risk-increasing ingredients was deceptive and misleading - FT.the complaint filed with NCDRC through the consumer affairs department has stated while accusing the firm of promoting noodles containing excessive lead as healthy with the sole aim of enhancing profits - FT.  Full Article

Nestle India Ltd announces appointment of Chairman
Thursday, 29 Oct 2015 07:45am EDT 

Nestle India Ltd:Has appointed Mr. Suresh Narayanan as the Chairman in addition to his responsibility as the Managing Director.Says Antonio Helio Waszyk retired as the Chairman effective Oct. 01.  Full Article

Nestle India Ltd Change of Managing Director
Friday, 24 Jul 2015 06:35am EDT 

Nestle India Ltd:Says Etienne Benet, Managing Director, is leaving with effect from July 25.Says Suresh Narayanan as the Managing Director with effect from Aug, 01.Sayts Narayanan is currently the Chairman and CEO of Nestle Philippines.  Full Article

Canada food regulator finds Nestle India Ltd's Maggi safe - The Hindu
Thursday, 2 Jul 2015 08:00pm EDT 

Nestle India Ltd:Says Canadian Food Inspection Agency said the noodles are safe for consumption - The Hindu.Says the Canadian Food Inspection Agency food safety investigation did not find any health risk associated with the consumption of Maggi brand noodle products sold in Canada.  Full Article

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BRIEF-Nestle India Dec-qtr profit down about 9 pct

* Net profit in Dec quarter last year was 1.83 billion rupees; net sales was 19.46 billion rupees