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Milk, food products and chocolates and sweets Nestle India Ltd. they have continued their momentum of healthy growth seen in recent years.
Although the 11.4% increase in prepared meals (Maggi) in CY20 was healthy, it was lower than our earlier estimate due to the increase in home consumption during Covid-19.
Performance was probably affected by the slower resumption of production, as the company does not abandon production.
Beverage sales were flat in CY20 due to significant components outside the home, which is only now normalizing.
The contribution of newer products to sales remained healthy and stood at 4.3% in CY20, which is credited because the management’s focus was more on basic products in the middle of a pandemic.
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