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Nestle India investors clear royalty payments to parent co at existing rate

FMCG firm Nestle India on Monday said its shareholders have approved to continue paying royalty to its parent firm at the current rate of 4.5 per cent of the net sales. Earlier in May this year, the shareholders of the company had rejected a proposal to increase payment of royalty to parent Socit des Produits Nestl S.A (licensor) by 0.15 per cent per year for the next five years thereby enhancing it to 5.25 per cent of net sales. Subsequently, last month the board of directors of the company at its meeting approved continuation of payment of general licence fees (royalty) at the existing rate of 4.5 per cent to Socit des Produits Nestl S.A. and recommended to the members of the company for their approval. The members of the company at its AGM (annual general meeting) held on July 8, 2024 have approved the ordinary resolution to continue the payment of general licence fees (royalty) at the existing rate of 4.5 per cent with 99.54 per cent of valid votes in favour and 0.46 per cent ..

Nestle India investors clear royalty payments to parent co at existing rate
Updated On : 08 Jul 2024 | 10:50 PM IST

After repairing war-damaged factory, Mondelez resumes ops in Ukraine

Mondelez's rivals including Nestle, the world's biggest food company, continue to sell their products in Russia. Food does not fall under international sanctions

After repairing war-damaged factory, Mondelez resumes ops in Ukraine
Updated On : 31 May 2024 | 2:24 PM IST

Nestle India shareholders vote against hiking royalty payment to parent

In its report dated May 3, Institutional Investor Advisory Services advised shareholders to vote against the resolution to hike royalty payment to its parent

Nestle India shareholders vote against hiking royalty payment to parent
Updated On : 18 May 2024 | 2:02 PM IST

Nestle India shareholders vote against increase in royalty to Swiss parent

About 70.8% of public shareholders voted against the increase, a filing showed

Nestle India shareholders vote against increase in royalty to Swiss parent
Updated On : 18 May 2024 | 1:05 PM IST

Pepsico India starts trials to replace palm oil in Lay's: Here's why

PepsiCo India has initiated trials to replace palm oil and palmolein with a combination of sunflower oil and palmolein in Lay's chips

Pepsico India starts trials to replace palm oil in Lay's: Here's why
Updated On : 09 May 2024 | 9:55 AM IST

Added sugars in Cerelac within limits, charges untrue: Nestle India CMD

Narayanan reiterated that according to FSSAI, the maximum permissible limit for added sugars is 13.6 gram per 100 gram of feed, while Nestle is at 7.1 gram of sugar per 100 gram

Added sugars in Cerelac within limits, charges untrue: Nestle India CMD
Updated On : 29 Apr 2024 | 9:18 PM IST

Infant food formulated globally, stereotype charges unfortunate: Nestle

Nestle India Chairman & Managing Director Suresh Narayanan on Monday asserted that the company's infant food formulation for children below 18 months is done on a global basis and the allegation that "it is racially stereotyped is unfortunate" and untrue. Addressing reporters here, he said the amount of sugar content in infant foods is determined by the capability to meet the nutrition profile of a particular age group and that is universal. Nestle India's added sugar content in Cerelac is much lower than the upper limit prescribed by FSSAI, he added. "There is nothing in this product that makes it a product that is potentially of any risk or any kind of harm to the child," he said. As far as Nestle is concerned, he said a majority of sugars present in the product are natural sugars. As per the Food Safety & Standards Authority of India (FSSAI), the permissible level of added sugar is 13.6 grams per 100 grams of feed. "Nestle is 7.1 grams, which is well below the standards and

Infant food formulated globally, stereotype charges unfortunate: Nestle
Updated On : 29 Apr 2024 | 3:57 PM IST

Nestle misses sales estimates after hiking prices across board in Q1

The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent

Nestle misses sales estimates after hiking prices across board in Q1
Updated On : 25 Apr 2024 | 3:07 PM IST

HUL rebrands Horlicks as 'functional nutritional drink', removes 'health'

Rebranding offers clearer and more transparent representation of the product category, says company

HUL rebrands Horlicks as 'functional nutritional drink', removes 'health'
Updated On : 25 Apr 2024 | 11:45 AM IST

Here's what will happen to Nestle if found guilty in sugar controversy

'Nestle adds sugar to infant milk sold in less affluent nations, including India, but not in its primary markets like Europe or the UK,' said a report by Public Eye

Here's what will happen to Nestle if found guilty in sugar controversy
Updated On : 18 Apr 2024 | 4:51 PM IST

Nestle adds sugar to baby food 'only in poor nations', not in UK & Europe

A report by Public Eye says that in India, all 15 Cerelac baby products contain an average of nearly 3 grams of sugar per serving

Nestle adds sugar to baby food 'only in poor nations', not in UK & Europe
Updated On : 18 Apr 2024 | 11:28 AM IST

Nestle India approves hiking royalty payment by 0.15% annually for 5 yrs

FMCG firm Nestle India Ltd on Friday said its board has approved increasing royalty payment to its parent firm by 0.15 per cent annually for the next five years, thereby enhancing it to 5.25 per cent of net sales. The board of directors, on the recommendation of the Audit Committee, approved the payment of general licence fees (royalty) by the company to Societe des Produits Nestle SA (licensor), at the rate not exceeding 5.25 per cent, net of taxes, of the net sales of the products sold by it, Nestle India Ltd said in a regulatory filing. The increase will be as per the terms and conditions of the existing general licence agreements, "payable in a staggered manner over the period of five years by making an increase of 0.15 per cent per annum over the current license fees of 4.5 per cent per annum effective from July 1, 2024", it added. The board has recommended the same for approval by the shareholders of the company through a postal ballot, it said. Earlier, Nestle India, which .

Nestle India approves hiking royalty payment by 0.15% annually for 5 yrs
Updated On : 06 Apr 2024 | 12:24 AM IST

FMCG sector to see subdued growth till Sept quarter of 2024: Kantar report

The fast-moving consumer goods sector will have a "subdued" growth till September quarter in 2024 due to factors including an uncertain outlook for the agricultural sector, said a report from data, insights, and consulting firm Kantar. The agricultural sector has uncertainty and the upcoming general elections would not surge the consumption of FMCG (fast-moving consumer goods) products, according to Kantar Worldpanel's FMCG pulse report. But it expects growth to get "progressively" better after September, and the year might yet turn good, especially in the second half, helped by good Rabi harvests. Some summer-related categories and even laundry products will help the industry to an extent, however, the growth in these categories combined will have a negligible impact on overall FMCG, it added. "As a result, we do see FMCG growth to be subdued, at least until Q3 of 2024. Keeping in mind the stronger first half of 2023, we may even end up seeing some stagnation in the early part of

FMCG sector to see subdued growth till Sept quarter of 2024: Kantar report
Updated On : 07 Mar 2024 | 2:33 PM IST

Nestle investing Rs 6,000-6,500 cr to expand manufacturing in India: CMD

FMCG major Nestle is expanding its manufacturing footprints and operations in India, for which it will end up investing Rs 6,000 to 6,500 crore between 2020-2025, to meet the growing demand, its India Chairman and Managing Director Suresh Narayanan said on Wednesday. From its inception here to 2020, Nestle India has invested Rs 7,000 crore but the investment in the last five years by the company is more than what it had done in the last 20-25 years, said Narayanan in a media round table here. Earlier, Nestle India had announced to invest Rs 2,000 crore between the years 2000 to 2020 and again in 2022, it announced to invest Rs 5,000 crore on expansion, which was to be invested by 2025. "So if you take out the common years in the middle of the investment, the net investment would have been about Rs 5,800 crores. We are well on that track. I think Rs 3,200 crore has already been invested between 2020 and 2023," said Narayanan. Nestle India, which owns popular brands such as Maggi, ..

Nestle investing Rs 6,000-6,500 cr to expand manufacturing in India: CMD
Updated On : 08 Feb 2024 | 9:03 PM IST

FMCG giants embrace real-time data exchange for quick commerce channels

FMCGs including Nestle, ITC, Parle Products, LT Foods, and Coca-Cola, are leveraging real-time data exchange and demand forecasting to prevent stock-outs on quick-commerce platforms

FMCG giants embrace real-time data exchange for quick commerce channels
Updated On : 21 Dec 2023 | 10:49 AM IST

Stocks to Watch: Nestle, Zee Ent, Apollo Tyres, Sun Pharma, JTL Ind, NHPC

Stocks to Watch on December 19, 2023: Nestle set Jan 5 as the record date for its stock-split; Sony India is unlikely to extend the timeline for its merger with Zee Entertainment, reported Livemint

Stocks to Watch: Nestle, Zee Ent, Apollo Tyres, Sun Pharma, JTL Ind, NHPC
Updated On : 19 Dec 2023 | 8:06 AM IST

Nestle says India, China are 'big focus' for growth of coffee market

"China is really a big focus, and India is a big focus," Navratil said

Nestle says India, China are 'big focus' for growth of coffee market
Updated On : 29 Nov 2023 | 11:53 PM IST

We don't see rolling back of prices as an imminent issue: Nestle India

The company is also increasing its advertising and promotional spends, particularly digital spends

We don't see rolling back of prices as an imminent issue: Nestle India
Updated On : 25 Oct 2023 | 11:21 PM IST