Nestlé India

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Nestlé India Limited
Company typePublic
ISININE239A01016
IndustryFood processing
Founded28 March 1959 (65 years ago) (1959-03-28)
HeadquartersNestle House, Jacaranda Marg, 'M' Block, DLF City, Phase II,
Gurugram, Haryana
,
India[1]
Area served
India
Key people
[2]
Products
[3]
RevenueIncrease ₹15,050 crore (US$1.9 billion)[4] (FY2022)
Increase ₹3,014.11 crore (US$380 million) [4] (FY2022)
Decrease ₹2,137.32 crore (US$270 million) [4] (FY2022)
Total assetsDecrease ₹7,058.20 crore (US$880 million)[5] (2019)
Total equityDecrease ₹1,932.26 crore (US$240 million) [5] (2019)
Number of employees
7,649 [2]
ParentNestlé (62.76%) [2][6]
Websitenestle.in

Nestlé India Limited is the Indian subsidiary of Nestlé which is a Swiss multinational company. The company is headquartered in Gurgaon, Haryana. The company's products include food, beverages, chocolate, and confectioneries.[7][2][3]

The company was incorporated on 28 March 1959 and was promoted by Nestle Alimentana S.A. via a subsidiary, Nestle Holdings Ltd.[8][9] As of 2020, the parent company Nestlé owns 62.76% of Nestlé India.[6] The company has 9 production facilities in various locations across India.[10]

History

Nestlé India is one of the largest players in India's fast-moving consumer goods sector and has a long history in the country.[11]

  • Nestlé India Limited was incorporated at New Delhi on 28 March 1959 and was promoted by Nestle Alimentana S.A. via a wholly owned subsidiary, Nestle Holdings Ltd., Nassau, Bahama Islands.[8][9]
  • The company built their first production facility in 1961 at Moga, in the Indian state of Punjab.[7][12]
  • Nestlé's second plant was set up at Choladi in Tamil Nadu, the plant was built primarily to process the tea grown in the area.[7]
  • In 1989, the company established a factory at Nanjangud in Karnataka.[7][9]
  • The company entered the confectionery business in 1990 by introducing Nestlé premium chocolate.[7]
  • In 1991, they started the production of soya based products through a joint venture with the BM Khaitan group.[7]
  • In the year 1995 and 1997 Nestlé established two facilities in Goa at Ponda and Bicholim respectively.[7][9]
  • In April 2000 they entered the liquid milk and iced tea markets.[7]
  • 2006 marked the year when the company set up its 7th factory at Pantnagar in Uttarakhand.[7]
  • The company opened another plant in Karnataka in 2011 bringing up its total plants in India to eight.[7]
  • In October 2020, Nestle India announced investment of Rs. 2,600 crores for a new plant at Sanand in Gujarat. Initial phase of production commenced from 1 October 2021.[13]
  • Nestlé India Limited's market cap as of December 2022 stood at Rs. 1,93,666.87 crore.[14]

Production

Nestlé India currently has 9 manufacturing facilities across India. They are at:[2][7][10]

  1. Moga, Punjab
  2. Samalkha, Haryana
  3. Nanjangud, Karnataka
  4. Choladi, Tamil Nadu
  5. Ponda, Goa
  6. Bicholim, Goa
  7. Pantnagar, Uttarakhand
  8. Tahliwal, Himachal Pradesh
  9. Sanand, Gujarat[15]

Controversy

In June 2015, Nestlé India's instant noodles product 'Maggi Noodles' was banned by the Government of Delhi for a 15-day period after lead and monosodium glutamate in samples of the product were found to be beyond permissible limits.[16][17][18] On 5 June 2015 Maggi noodles were banned nationwide by the Food Safety and Standards Authority of India.[19] The ban was overturned on 13 August 2015 following the Bombay High Court's order and samples of Maggi Noodles were ordered to be retested within 6 weeks by three labs authorized by the National Accreditation Board for Testing and Calibration Laboratories.[20][19][21][22] Nestle was fined ₹45 lakh for the incident by the district administration.[23] Between 5 June 2015 when the noodles were first banned and 1 September 2015, Nestlé recalled 38,000 tonnes of Maggi Noodles from stores and incinerated them at 11 cement plants across India.[24][25] Nestlé eventually cleared the Bombay High Court mandated lab tests and Maggi Noodles were allowed to be manufactured and sold again.[26]

References

  1. ^ "Nestle India > Location Details > Food Processing > Location Details of Nestle India - BSE: 500790, NSE: NESTLEIND". www.moneycontrol.com. Retrieved 24 July 2020.
  2. ^ a b c d e MarketScreener. "Nestlé India Limited: Shareholders Board Members Managers and Company Profile". www.marketscreener.com. Retrieved 23 July 2020.
  3. ^ a b India, Nestle. "investors documents" (PDF).
  4. ^ a b c "Nestle India Profit & Loss account, Nestle India Financial Statement & Accounts". www.moneycontrol.com. Retrieved 24 July 2020.
  5. ^ a b "Nestle India Balance Sheet, Nestle India Financial Statement & Accounts". www.moneycontrol.com. Retrieved 24 July 2020.
  6. ^ a b "Nestle India Shareholding Pattern". economictimes.indiatimes.com. Retrieved 23 July 2020.
  7. ^ a b c d e f g h i j k "About Nestle India Ltd | Company information | capitalmarket". www.capitalmarket.com. Retrieved 23 July 2020.
  8. ^ a b Company profile, Bloomberg. "Nestle India Ltd". Bloomberg News.
  9. ^ a b c d "Nestle India History | Nestle India Information". economictimes.indiatimes.com. Retrieved 23 July 2020.
  10. ^ a b "All 8 Nestle plants under FSSAI scanner". The Indian Express. 8 June 2015. Retrieved 24 July 2020.
  11. ^ "Nestle India Ltd". Business Standard India. Retrieved 24 July 2020.
  12. ^ "Presence Across India". Nestlé. Retrieved 24 July 2020.
  13. ^ "Nestle India Ltd" (PDF). Retrieved 7 October 2021.
  14. ^ "Top 100 stocks by Market Capitalization | BSE Listed stocks Market Capitalization". www.bseindia.com. Retrieved 19 December 2022.
  15. ^ "Nestle India Ltd" (PDF). Retrieved 7 October 2021.
  16. ^ "Maggi Controversy: Why it is being banned in India?". India Today. 3 June 2015. Retrieved 26 July 2020.
  17. ^ Jha, Durgesh Nandan (4 June 2015). "Trouble mounts for Maggi: Delhi govt bans sale for 15 days". The Times of India. Retrieved 26 July 2020.
  18. ^ Guest, Forbes. "When It Comes to Putting Out Fires, Nestlé India's Suresh Narayanan Is No Novice". Forbes. Retrieved 26 July 2020.
  19. ^ a b Kazmin, Amy; Brundsen, Jim (13 August 2015). "India court overturns Nestlé Maggi noodles ban". Financial Times. Retrieved 26 July 2020.
  20. ^ "Nestlé's Half-Billion-Dollar Noodle Debacle in India". Fortune. Retrieved 26 July 2020.
  21. ^ "Ban on Maggi: High Court lifts ban, orders fresh tests within 6 weeks". The Indian Express. 14 August 2015. Retrieved 26 July 2020.
  22. ^ Thomas, Shibu (13 August 2015). "Relief for Nestle, Bombay HC sets aside food regulator's ban on Maggi". The Times of India. Retrieved 26 July 2020.
  23. ^ "Maggi controversy: Between 2015 and now". The Indian Express. 29 November 2017. Retrieved 26 July 2020.
  24. ^ Mitra, Sounak (15 February 2017). "The Maggi ban: How India's favourite two-minute noodles lost 80% market share". Livemint. Retrieved 26 July 2020.
  25. ^ Comcowich, William (4 October 2018). "PR Crisis Management Lessons from the Nestlé Maggi Noodle Controversy". glean.info. Retrieved 26 July 2020.
  26. ^ "Maggi clears Bombay HC mandated lab tests: Nestle India". The Indian Express. 17 October 2015. Retrieved 26 July 2020.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Nestlé_India&oldid=1206293497"