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Nestle India to accelerate investments

Nestle India to accelerate investments
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First Published: Wed, Nov 24 2010. 07 10 PM IST
Updated: Wed, Nov 24 2010. 07 10 PM IST
New Delhi: Nestle India plans an acceleration of its capital investments to expand its facilities at Bicholim, Moga, Nanjangud, Ponda, Samalkha and new Greenfield. The announcement was made at the 18th Financial Analysts Meet.
Mr Shobinder Duggal, director finance and control, Nestle India, said that a combination of internal accruals and debt will finance this high capex trajectory.
Mr. Antonio Helio Waszyk, chairman and managing director, Nestle India said that the company will continue to invest in brands and distribution capabilities while accelerating investment in capacities to provide consumers a wide product range, from popularly positioned products for low income consumers to premium offerings.
Over the last three years, Nestle’s India spent over Rs650 crores in capital investments, and will have invested more than Rs450 crores in 2010 alone.
Nestle India’s net sales in 2009 were Rs5129 crores with growth of 18.6%. In first nine months of 2010, it achieved a growth of around 21% with net sales of over Rs4500 crores. Nestle India has 7 factories employing more than 5,000 employees.
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First Published: Wed, Nov 24 2010. 07 10 PM IST