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FMCG major <keyword id="6356830" type="General" weightage="100" keywordseo="nestle-india" source="Orion">Nestle India</keyword> on Wednesday declared an interim dividend of Rs 27 for 2023 for the entire issued share capital. The board of the company in a meeting held on Wednesday approved "an interim dividend of Rs 27 per equity share of Rs 10 each for the year 2023 on the entire issued, subscribed and paid-up share capital of the company of 9,64,15,716 equity shares of the nominal value of Rs 10 each," the company said in a regulatory filing. <keyword id="75190" type="General" weightage="20" keywordseo="Nestle" source="Orion">Nestle</keyword> India which follows the January-December calendar year as financial year said, the interim dividend for 2023 will be paid on and from May 8, 2023, along with the final dividend for the year 2022, if approved by the members at the 64th <keyword id="50158" type="General" weightage="20" keywordseo="annual-general-meeting" source="Orion">Annual General Meeting</keyword> scheduled to be held on April 12, 2023. It has fixed April 21, 2023, as the record date to determine the eligibility of shareholders for the payment of said interim dividend. Nestle India is going to declare its results for the March quarter on April 25, 2023. On October 31, 2022, Nestle India declared a second interim dividend of Rs 120 and a final dividend of Rs 65 on Apr 21, 2022. Shares of Nestle India were trading at Rs 19,401.40 on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> in the afternoon, down 1.38 per cent from the previous close. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/these-people-are-being-followed-by-elon-musk-on-twitter/slidelist/99433040.cms">Narendra Modi to ex-partner Grimes: These are people Elon Musk follows on Twitter</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/news/more-insurers-capital-distributors-and-healthy-competition-required-to-make-insurance-for-all-by-2047/articleshow/99431110.cms">More insurers, capital, distributors and healthy competition required to make insurance for all by 2047</a>

Nestle India declares interim dividend of 27 for 2023

Have you ever thought about an alternative to <keyword id="726194" type="UNKNOWN" weightage="100" keywordseo="maggi-noodles">Maggi noodles</keyword>? Well, <keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword> is mulling over it. 
 
After the two-minute noodles was banned in India over excess lead content and MSG in it, Nestle India has started working hard to come up with a snack that would replace Maggi till it is repositioned. 
 
"With no clarity over when Maggi in its existing form will be back on shelves, Nestle is working on alternate snacking options," one of two persons who confirmed the development told Economic Times, adding “Snacking is a huge opportunity which Nestle doesn't want to vacate, and it already has an existing backend for the culinary business." 
 
While re-launching Maggi could take several months, Nestle India might launch a ready-to-eat or ready-to-cook food. 
 
Nestle was guarded in its response to ET's queries. "We are working hard to resolve the situation and we aim to be back in the market as soon as we can. Adhering to Nestle's rigorous quality policies and testing protocol, we are confident that we will come back soon, ensuring food safety, as we always do," the Nestle spokesperson told the financial daily. 
 
Maggi noodles accounts for a third of Nestle India’s business with sales of over Rs 2,000 crore. 
 
Due to the ban, the plants in Punjab, Uttarakhand, Karnataka, Goa and Himachal Pradesh are suspended. 
 
Meanwhile, Nestle India is working together to re-build the brand. Nestle Global Chief Executive Paul Bulcke said that the Maggi products were completely safe and were re-called as consumers faith had shaken. 
 
"Food has never been safer. But there is this perception and we have to work on that. The only thing that interests me is to have the product back as soon as possible and that things are cleared up," he told news agency AFP. 
 
"Any health concerns raised by a credible source such as FSSAI will most certainly damage customer loyalty and consideration of a food brand," said David Haigh, CEO of the London-based brand valuation consultancy. 
 
(Image: Indiatimes)

Is Nestle India planning to ditch Maggi?

The quarter that ended on March 31 wasn’t a good one for <keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword>, with the Swiss Trans-national F&amp;B company reporting a 19% decline in net profit. The result is a loss of the ban that flagship instant noodles <a href="http://www.businessinsider.in/Maggi-is-in-trouble-again/articleshow/51344594.cms">Maggi</a> faced in the country. 
 
As per the company statement, net profit for the quarter was Rs 259 crore as compared to Rs 320 crore for the corresponding quarter in 2015. 
 
"Results for the quarter have been impacted by the Maggi noodles issue in 2015," the company said in a statement. 
 
Talking of net sales, they dipped 8.5% to Rs 2,296 crore, which was below what analysts had estimated. Not only this, the company's total expenditure too fell 7.2% and stood at Rs 1,856 crore during the quarter. 
 
For the quarter that ended on December 31, 2015, <a href="http://www.businessinsider.in/WATCH-Nestles-new-ad-featuring-Sania-Mirza-andShoaib-Malik-is-adorable/articleshow/51409354.cms">Nestle India</a> had reported 43.8% year-on-year decline in net profit at Rs 183.19. 
 
The ban on Maggi was placed by the Food Safety &amp; Standards Authority of India (FSSAI) had banned after allegations that it contained more lead than allowed, and that the label didn’t provide the correct information regarding the flavour enhancer MSG (monosodium glutamate). It had taken five months for Maggi to <a href="http://www.businessinsider.in/It-will-take-Nestle-3-years-to-undo-the-Maggi-damage-in-India/articleshow/51120095.cms">return to markets</a>. 
 
Also read: <a href="http://www.businessinsider.in/Nestle-in-trouble-again-for-sub-standard-Maggi/articleshow/51619084.cms">Nestle in trouble again for alleged 'sub-standard' Maggi</a> 
 
Nonetheless, the company is treading on the road to recovery, with <a href="http://www.businessinsider.in/Nestle-CEO-says-Maggi-is-recovering-faster-than-expected-after-a-five-month-hitch/articleshow/51837924.cms">Maggi regaining leadership</a> with over 50% share within five months of the re-launch last year. However, its market share is much lower as compared to what it had before being banned, which was more than 75%. 
 
<a href="http://images.says.com/uploads/story_source/source_image/394038/cca6.jpg">Image source</a>

Nestle India is yet to recover from the Maggi ban, reports 19% slip in net profits

Nestle India has announced the brand is set to lose a whopping Rs. 320 Crores plus from the destruction of its instant noodles. 
 
The brand has been combating the worst-ever brand crisis in the history of India since Maggi samples were found to contain monosodium glutamate (MSG) and excess lead. 
 
The company has challenged the charges against it in court but is forced to withdraw until a resolution is reached. 
 
Nestle said the approximate value of its stocks is around Rs. 210 Crores. The company also has ready stocks of Maggi and related products in its factories and distribution centers that is worth around Rs. 110 Crores. 
 
Nestle withdrew Maggi noodles off the shelves on June 5. The company says its noodles are safe and that FSSAI’s testing facility is faulty. 
 
(Image credit: Indiatimes)

Nestle India to lose more than Rs. 320 Crores from
Maggi crisis

<keyword id="6356830" type="CITY" weightage="80" keywordseo="Nestle-India">Nestle India</keyword>, which is recalling Maggi from the market citing customers’ faith has been shaken, now has another issue to struggle with. 
 
The company would not be able to access and recall as much as 35-40% of the total stock across the country as millions of outlets selling Maggi are outside the company's direct network. 
 
Nestle directly reaches around two million outlets where it sells products through its own distributors or wholesalers. But, according to a data by market researcher Nielsen, the company’s products reach 47% of India's estimated 8.8 million retail outlets. 
 
This means, over two million stores that sell Maggi are serviced through middlemen, semi-wholesalers or even larger kirana owners. 
 
"At any given time, about 40% of the products are difficult to trace in the complex trade system," Mayank Shah, deputy marketing manager at Parle Products, told Economic Times. 
 
"We can always go to wholesalers where we supplied products directly, but there are villages with less than 2,000 people where products are distributed by semi-wholesalers in small batches. To get those packs back is neither possible nor economical," Shah further said. 
 
The financial daily reported that even if Nestle was able to recall 100% of the Maggi stock from its distribution network, it would still not be able to reach at least half the total outlets resulting in about one-third of the product by volume being left on shelves. 
 
"Recall is difficult to implement and it won't be efficient in rural areas," Abneesh Roy, associate director at Edelweiss Securities, told ET. 
 
RS Sodhi, managing director at Gujarat Co-operative Milk Marketing Federation that makes Amul dairy products, told the financial daily that a complete pullout of Maggi from the Indian market will be complex considering the deep penetration of the product into every nook and corner of the country. 
 
"It will take 5-7 days for distributors to withdraw the stocks from retailers. But in smaller towns and villages, unless the distributors reach out to the smallest retailer, the stocks will remain, which is what may become a big challenge," said Sodhi. 
 
A senior executive with a retail chain that had stopped selling Maggi on its own told ET that its contract with Nestle ensures the company will take back all unsold stock. 
 
Despite the recall, some online grocery sellers were selling Maggi till late Saturday. While most popular online players had stopped selling the product, orders could be placed for as many as 40 packs on sites such as OneKirana and WeAreOpen. 
 
OneKirana founder Megha Singh said a few orders were accepted by mistake. 
 
(Image: Indiatimes)

Nestle India hits roadblock in re-calling Maggi. More than 40% stock out of its reach

FMCG major <keyword id="6356830" type="General" weightage="80" keywordseo="nestle-india" source="Orion">Nestle India</keyword> is increasing the number of its women employees as part of its gender diversity efforts. Presently, around 23 per cent of <keyword id="75190" type="General" weightage="100" keywordseo="nestle" source="Orion">Nestle</keyword> <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s workforce are women, its Chairman and Managing Director <keyword id="2691730" type="General" weightage="20" keywordseo="suresh-narayanan" source="Orion">Suresh Narayanan</keyword> said on Monday. "We moved a fair degree on this. When I came to Nestle India in 2015, at that time we were at about 15-16 per cent. We have moved now to 23 per cent," Narayanan told reporters at a virtual media roundtable. Nestle India, which currently operates eight plants in the country and will soon commission the ninth, employs over 7,700 people. "That is not the end, we would like to do much better than this. And in fact last year in 2020, 42 per cent of all the recruitment that we did within the company were women candidates and it is a trend that is continuing this year as well," Narayanan added. At Nestle's new plant in Sanand, Gujarat, which will manufacture its range of popular instant noodles <keyword id="6369404" type="General" weightage="20" keywordseo="maggi" source="Orion">Maggi</keyword>, 62 per cent of the employees would be female. "One of the epitomes of diversity for the company would be getting commissioned in the next few weeks. Our factory in Sanand is almost near completion. 62 per cent of the Sanand factory workforce would be women," he said. Nestle is investing around Rs 700 crore in the Sanand plant. Besides, Narayanan said Nestle India has invested about Rs 300 crore so far on augmenting capacity of its existing plants. This is part of its earlier announced plans to invest Rs 2,600 crore in the next three-four years. Nestle India has also submitted proposals for the government's Production-Linked Incentive (PLI) scheme for the food processing sector. However, he did not divulge any details. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/salesforce-ventures-backs-indian-payments-giant-razorpay-as-it-looks-to-expand-further-outside-india/articleshow/86388953.cms">Salesforce Ventures backs Indian payments giant RazorPay as it looks to expand further outside India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-sends-legal-notice-to-lawyer-who-alleged-nord-2-explosion-asks-him-to-remove-tweets-and-offer-an-apology/articleshow/86388611.cms">OnePlus sends legal notice to lawyer who alleged Nord 2 explosion — asks him to remove tweets and offer an apology</a>

Maggi maker Nestle says more than 60% of its employees at its new plant in Gujarat would be women

Suppliers of spices and flour to <keyword id="6356830" type="CITY" weightage="20" keywordseo="Nestle-India">Nestle India</keyword> are in the mid of nowhere ever since the instant <keyword id="6369404" type="PERSON" weightage="20" keywordseo="Maggi">Maggi</keyword> noodles got banned from the Indian market. Following cancelled orders, unpaid bills and uncertainty over the future of business with <keyword id="75190" type="CITY" weightage="20" keywordseo="Nestle">Nestle</keyword> India, suppliers are facing a loss of Rs 15 crore every week. 
 As per a report published in Economic Times, <keyword id="2900210" type="UNKNOWN" weightage="20" keywordseo="Paras-Spices">Paras Spices</keyword>, a Punjab-based firm which has been working with Nestle since last three decades and supplies close to 200 tonnes of spices to Nestle every month, has retrenched around 300 temporary workers in its production unit. The firm that earns around 40% of its revenue from Nestle has shut the production lines catering to Nestle. "The ban has affected us both in terms of volumes and value," said Mahesh Pathak, Business Head, Paras Spices. 
 
If reports are to be believed, about 70-80 flour mills across nation, which supplies nearly 1,800 tonnes of flour every day to Nestle's five plants, have also been hit hard. 
 
“Nestle has not just cancelled its orders, but it has also asked the suppliers to take back their previous supplies because it doesn’t uses food items older than six days,” said VK Bansal, senior Vice-President at Roller Flour Millers' Federation of India. "The company officials are not available since the crisis began," Bansal informed. 
 
Analysts expect Nestle to recover from the crisis in the long term and put Maggi noodles back on retail shelves. But they doubt if the Rs 2,000-crore brand will remain as popular as it has been because the product ban may impact consumer perception about its safety and health benefits.

Maggi Ban: Wheat, spices suppliers facing Rs 15 crore loss every week

<a href="http://www.businessinsider.in/searchresult.cms?query=nestle+india">Nestle India</a> has sent fresh samples of <a href="http://www.businessinsider.in/searchresult.cms?query=maggi">Maggi noodles</a> for testing as it resumed production of Maggi recently. This means the instant 2-minute noodles will be back on sale December onwards. 
 The Bombay High Court recently had directed <keyword id="6356830" type="CITY" weightage="20" keywordseo="Nestle-India">Nestle India</keyword> to also get fresh samples of Maggi noodles tested by the labs and once they get the approval, Maggi will be back with new packaging, instructions and old taste. 
 
Production of Maggi noodles has, reportedly, resumed in Karnataka, Punjab and Goa. 
 
Maggi noodles was banned in India in June after MSG and excess content of lead was found in the packets. 
 
This dented the image and revenue sales of Nestle India as Maggi used to be its biggest brand, accounting for about 30% of sales at the company. 
 
However, it is expected that Nestle India’s Maggi will recover the losses. The company has started rigorous advertising for Maggi's return. 
 
Edelweiss in a note stated "We appreciate the company's effort to up the ante on advertising and promotions, but this will depress margins in the coming quarters. We believe Nestle is unlikely to garner the earlier 70% share of the noodle pie.” 
 
(Image: Indiatimes)

Maggi will be back in December!

<ul><li>During the Supreme Court hearing, <keyword id="6356830" type="ORGANIZATION" weightage="20" keywordseo="nestle-india">Nestle India</keyword>’s lawyer reportedly said that the reports have shown that lead in the product in question was ‘below detectable limits’ in its <keyword id="411839" type="PERSON" weightage="20" keywordseo="Instant-noodles">instant noodles</keyword>. </li><li>The instant noodles has been in trouble for allegedly having high quantities of lead and MSG (Monosodium Glutamate). </li><li>The apex court gave greenlight to the National Consumer Disputes Redressal Commission (NCDRC) to proceed with a class-action suit against Nestle for allegedly selling <keyword id="6369404" type="LOCATION" weightage="20" keywordseo="maggi">Maggi</keyword> noodles that failed to meet food standards. </li><li>In 2015, the food regulator FSSAI banned Nestle’s Maggi for six months along with destroying over 30,000 tonnes of instant noodles.</li></ul>Maggi noodles manufacturer, Nestle, <a href="https://in.reuters.com/article/nestle-india/nestle-welcomes-indias-supreme-court-ruling-in-maggi-case-idINKCN1OX14J">welcomed </a>Supreme Court’s ruling on Thursday, saying that it has marked a partial victory for them over Maggi noodles. During the hearing, Nestle India’s lawyer reportedly said that the reports have shown that lead in the product in question was <a href="https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/lead-in-maggi-below-detectable-limits-nestle-lawyer/67375320">‘below detectable limits’</a> in some samples while very little quantities of lead was detected in others. A senior counsel added by saying that ‘some amount of lead is present in a lot of products.’ Appearing for Nestle, he also said that the permissible limit of lead after scientific evaluation is 2.5 parts per million (PPM) and the tiny particles can come from nature. The statement came as the Supreme Court gave greenlight to the National Consumer Disputes Redressal Commission (NCDRC) to proceed with class-action suit against Nestle for allegedly selling maggi noodles that failed to meet food standards. The instant noodles was questioned for allegedly having high quantities of lead and MSG (Monosodium Glutamate). The apex Court also said that the samples tested in Central Food Technological Research Institute will form the basis of the proceedings. The class-action suit was originally filed three years ago, against the food makers, <a href="https://www.bloombergquint.com/business/sc-revives-govt-s-case-in-ncdrc-against-nestle-india-2#gs.KMugdCMj">seeking ₹6.4 billion</a> as compensation for unfair trade practices, under Consumer Protection Act. Following this, the company appealed for stay orders until the samples seized are tested and analysed. In 2015, the food regulator FSSAI banned Nestle’s maggi for six months along with destroying over 30,000 tonnes of instant noodles. See also: <a href="https://www.businessinsider.in/now-you-can-trade-10-old-maggi-wrappers-for-a-new-packet-nestle-india-launches-pilot-project-to-fight-plastic-menace/articleshow/66635723.cms">Now you can trade 10 old Maggi wrappers for a new packet — Nestle India launches pilot project to fight plastic menace</a> <a href="https://www.businessinsider.in/indias-food-regulator-has-kicked-off-the-new-year-with-a-set-of-new-food-standards/articleshow/67347633.cms">India’s food regulator has kicked off the new year with a set of new food standards</a> <a href="https://www.businessinsider.in/indias-food-regulator-to-launch-rigorous-inspections-on-food-companies/articleshow/67090806.cms">India’s food regulator to launch ‘rigorous’ inspections on food companies</a>

Nestle asserts lead content in Maggi noodles is ‘below detectable limits’ following Supreme Court of India ruling to reopen class-action case

Weeks after India banned <keyword id="726194" type="UNKNOWN" weightage="80" keywordseo="maggi-noodles">Maggi noodles</keyword> and ordered its manufacturer to pull thousands of packets from stores, the UK's <keyword id="33543" type="ORGANIZATION" weightage="80" keywordseo="Food-Standards-Agency">Food Standards Agency</keyword> (FSA) has found the product imported from India safe for consumption; says it does not contain excess of <keyword id="23204" type="PERSON" weightage="60" keywordseo="lead">lead</keyword>. The food agency conducted tests on various samples as a precaution following a ban on the <keyword id="75190" type="CITY" weightage="80" keywordseo="Nestle">Nestle</keyword> product in India, reported the Economic Times. 

	"The FSA can confirm that results from testing samples of Maggi Noodles in the UK have all found that levels of lead in the product is well within EU permissible levels and would not be a concern to consumers," the financial daily reported, quoting FSA on its website. 
 Sale of Maggi noodles were banned in India after the Food Safety and <keyword id="179673" type="ORGANIZATION" weightage="80" keywordseo="Standards-Authority-of-India">Standards Authority of India</keyword> found lead beyond permissible limits and cases of mislabeling of monosodium glutamate content on the packet. Meanwhile, Nestle informed the FSA that the only variety of Maggi Noodles imported into the UK from India was the 'masala flavour'. The FSA tested several flavours from the Maggi noodles range including the masala flavor and found the levels of lead to be well within <keyword id="6355110" type="ORGANIZATION" weightage="80" keywordseo="European-Union">European Union</keyword>'s permissible levels. It tested samples collected from Nestle, local and port authorities of the UK. <keyword id="6356830" type="CITY" weightage="60" keywordseo="Nestle-India">Nestle India</keyword> is also preparing a blueprint for a possible re-launch of the Maggi instant noodles. Experts feel the issue of the recall and ban on the noodles might be resolved in the next three to six months. The <keyword id="48485" type="ORGANIZATION" weightage="80" keywordseo="Bombay-high-court">Bombay High Court</keyword> recently allowed Nestle India to export Maggi noodles but did not lift the ban on its local sales. 

	A Nestle India spokesperson told ET: "We note that the UK Food Standards Agency cleared Maggi noodles after reviewing results from around 900 samples." 
 Its finding that "levels of lead in the product is well within EU permissible levels and would not be a concern to consumers comes after regulatory authorities in other countries including Singapore, Australia and <keyword id="22501" type="COUNTRY" weightage="80" keywordseo="New-Zealand">New Zealand</keyword> also cleared the product", the spokesperson said. 
	(Image: Reuters)

Good news for all Maggi lovers! UK Food Standards Agency Finds Made in India Maggi noodles safe

<keyword id="105382" type="COMPANY" weightage="100" keywordseo="Ambuja-Cements">Ambuja Cements</keyword> has received Rs 20 crore from <keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword> to burn packets of Maggi noodles. 
 
The two-minute noodles were found harmful after excess lead and MSG was found in the packets. Nestle India has withdrawn all Maggi packets from the market. 
 
A Nestle India spokesperson told news agency PTI that Gujarat Ambuja Cements was helping them to destroy the Maggi noodles being withdrawn by us from the market. 
 
“In addition to the value of stocks being destroyed there will be additional costs to take into account, for example bringing back stock from the market, transporting the stock to the destruction points and destruction cost etc,” the spokesperson told the news agency. 
 
Nestle India recently had informed that Maggi noodles worth Rs 320 crore will be destroyed as it was banned by FSSAI. 
 
(Image: Indiatimes)

You Searched For "nestle india" and got 11 results

Nestle India declares interim dividend of 27 for 2023

PTI

Is Nestle India planning to ditch Maggi?

BI India Bureau

Nestle India is yet to recover from the Maggi ban, reports 19% slip in net profits

BI India Bureau

Nestle India to lose more than Rs. 320 Crores from Maggi crisis

BI India Bureau

Nestle India hits roadblock in re-calling Maggi. More than 40% stock out of its reach

BI India Bureau

Maggi maker Nestle says more than 60% of its employees at its new plant in Gujarat would be women

PTI

Maggi Ban: Wheat, spices suppliers facing Rs 15 crore loss every week

BI India Bureau

Maggi will be back in December!

BI India Bureau

Nestle asserts lead content in Maggi noodles is ‘below detectable limits’ following Supreme Court of India ruling to reopen class-action case

BI India Bureau

Good news for all Maggi lovers! UK Food Standards Agency Finds Made in India Maggi noodles safe

BI India Bureau

Nestle is paying Ambuja Cements Rs 20cr to destroy thousands of Maggi packs

BI India Bureau

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