Nes­tle In­dia an­nual sales cross ₹10,000­crore mark in 2017

Hindustan Times (Delhi) - - INDIAUNSEEN - Sounak Mi­tra

NEW DELHI: Swiss pack­aged food com­pany Nes­tle SA has fi­nally joined the ₹10,000 crore sales club in In­dia—more than a cen­tury af­ter it en­tered the bur­geon­ing mar­ket to sell Swiss con­densed milk as a trader.

On Wed­nes­day, its lo­cal en­tity Nes­tle In­dia Ltd re­ported to­tal sales at ₹10,135.11 crore for the year ended De­cem­ber 2017. The maker of Maggi noo­dles, Kit Kat cho­co­lates and Nescafe in­stant cof­fee mixes fol­lows a Jan­uaryDe­cem­ber ac­count­ing year.

Nes­tle, which be­gan trad­ing in In­dia in 1912, is the first listed “pure-play food com­pany” to cross ₹10,000 crore in sales in In­dia. While there are many pack­aged goods com­pa­nies in In­dia with more than ₹10,000 crore sales, Nes­tle In­dia is among the very few to have crossed the mark with a pure-play food busi­ness. Among the listed firms, ITC Ltd’s food busi­ness was es­ti­mated at around ₹8,000 crore in fis­cal year ended March 31, 2017 and Bri­tan­nia In­dus­tries Ltd re­ported sales at ₹8,684 crore in FY17. The coun­try’s largest pack­aged goods com­pany Hin­dus­tan Unilever Ltd and New Del­hibased Dabur In­dia Ltd have much smaller food busi­nesses.

Among un­listed firms, Amul brand mar­keter Gu­jarat Co-op­er­a­tive Milk Mar­ket­ing Fed­er­a­tion Ltd’s rev­enue stood at ₹27,043 crore in FY17, ac­cord­ing to a com­pany state­ment is­sued last year. Bis­cuit maker Parle Prod­ucts Pvt. Ltd re­ported ₹9,331.42 crore rev­enue from op­er­a­tions in FY16, ac­cord­ing to its fil­ings with Reg­is­trar of Com­pa­nies (ROC). Nes­tle In­dia may well have crossed the ₹10,000 crore mark in sales a cou­ple of years back, had its Maggi noo­dles not been slapped with a ban in 2015 over a health scare that caused an es­ti­mated half-abil­lion-dol­lar dent to the firm.

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