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Analyst and Institutional Investor Meet, February 2025 Analyst and Institutional Investors Meet, February 04, 2025 Our Path to Progress Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India
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Analyst and Institutional Investor Meet, February 2025 Disclaimer • Except for the historical financial information contained herein, this presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which holds only as of the date. • The future involves uncertainties and risks that could cause actual results to differ materially from the current views being expressed. • Potential uncertainties and risks include but are not limited to factors such as changes in general economic, political or market conditions, commodities and currency fluctuations, competitive product and pricing pressures, industrial relations and regulatory developments. • Significant disruptions in the operations due to unforeseen events (including spread of any disease) • Figures are on standalone basis and are regrouped / reclassified to make them comparable. • Calculations are based on non-rounded figures. • ‘Analytical data’ are best estimates to facilitate understanding of business and NOT meant to reconcile reported figures. • Answers to Questions may be given basis generally available information in public domain. • No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or presentation must not be relied upon as having been authorized by or on behalf of Nestlé India Limited. • The Financial Year of the Company stands changed from 1st January – 31st December cycle to 1st April – 31st March cycle. Accordingly, the Financial Year 2023-24 covers a period of 15 months commencing from 1st January 2023 to 31st March 2024. • Where CY is mentioned, it stands for January – December calendar year
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Analyst and Institutional Investor Meet, February 2025 Our consistent growth story The rising India opportunity Delivering on our strategy – Virtuous Circle and 5Ps Key takeaways Today we will discuss
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Analyst and Institutional Investor Meet, February 2025 x Our Purpose Unlocking the power of food to enhance quality of life for everyone, today and for generations to come Analyst and Institutional Investor Meet, February 2025
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Analyst and Institutional Investor Meet, February 2025 Our consistent growth story
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Analyst and Institutional Investor Meet, February 2025 Deeply entrenched in India *Data till 31 December 2024 Legacy of 113 years 8,700+ Employees 547,000 + Shareholders ~14 million beneficiaries Societal initiatives 10,000+ Distributors & re-distributors 280,000 Farmers 9 Factories in India 5.3 million outlets Total reach
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Analyst and Institutional Investor Meet, February 2025 Significant investment in India - 10th factory in Odisha Capital expenditure % to sales 1.8 7.7 CY 2015 FY 2023-24 Capacity expansion since 2020 Capacity for MAGGI, Coffee, Chocolate 35% Spent till date INR 5,500 + crore Sanand now 3rd factory producing confectionery
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Analyst and Institutional Investor Meet, February 2025 Strong growth and financial performance 81 243 CY 2015 FY 2023-24 Sales (INR billion) 13 53 CY 2015 FY 2023-24 Profit from operations (INR billion) 561 2,093 31/12/2015 31/12/2024 Market Cap. (INR billion) 11.2% CAGR 15.1% CAGR 15.7% CAGR FY2023-24 comprises of 15 months period from 01/01/2023 to 31/03/2024 and hence the figures are not comparable with the previous financial years which were for 12 months Growth numbers ex. market cap. for 2015- 23
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Analyst and Institutional Investor Meet, February 2025 Consistently outperforming the peers Sales 10.5% Nestlé India Peers 11.2% Nestlé India Peers PAT CAGR Since 2015 (8 years) 11.2% 23.2%
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Analyst and Institutional Investor Meet, February 2025 Growth based on balanced portfolio Milk Products and Nutrition Prepared Dishes and Cooking Aids Confectionery Powdered and Liquid Beverages 39% Contribution 6% CAGR 2015-24 31% Contribution 19% CAGR 2015-24 10% CAGR 2015-24 16% Contribution 14% CAGR 2015-24 14% Contribution 10% CAGR 2015-24 Contribution April – December 2024 Out of Home
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Analyst and Institutional Investor Meet, February 2025 Driven by our penetration led growth strategy 2016 2024 5.3 million retail outlets in 2024 Highest gains amongst peers in 2024 Source: Neilsen RMS December 2024 Image attributed to Mint newspaper
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Analyst and Institutional Investor Meet, February 2025 Bolstered by aggressive digital outreach 126% Total digital media spends since 2020 25 million grocery shoppers 86% socially influenced 1.1 billion Mobile users 51% media spend on digital in 2024 Source: Google 2023 / FICCI Frames 2024/ Datareportal /Deccan Chronicle
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Analyst and Institutional Investor Meet, February 2025 Strengthening our household penetration 2016 2024 2016 2024 52% households 30% households Source: Kantar Household Panel December 2024 Urban + Rural
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Analyst and Institutional Investor Meet, February 2025 Leading to robust volume growth Climate Action Responsible Sourcing 269 705 2015 2016 2017 2018 2019 2020 2021 2022 2023-24 Domestic Volumes (‘000 tonnes) 2023-24 comprises of 15 months period from 01/01/2023 to 31/03/2024 and hence the figures are not comparable with the previous f inancial years which were for 12 months 9.5% CAGR CY2015- 23
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Analyst and Institutional Investor Meet, February 2025 Amplifying further our brand equity scores 2020 2024 2020 2024 2020 2024 Source: Kantar Brand Health Track 2024
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Analyst and Institutional Investor Meet, February 2025 Endorsed by category leading brands 12.5 Billion cups 3,700 Million fingers 33 Million tins 2,100 Million units 940+ One Nestlé Kiosks 20 million + footfall 4.5 Billion serves *Data from January - December 2024 A Nestlé product reaches 2 out of 3 households in India
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Analyst and Institutional Investor Meet, February 2025 The rising India opportunity
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Analyst and Institutional Investor Meet, February 2025 Significant headroom for growth Source: IMF Oct 2024, Euromonitor 2024 India’s GDP Ranking Per capita Packaged food consumption India Philippines China Malaysia 2.9X 3.3X 3.6X X#3 United States China Germany Japan India
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Analyst and Institutional Investor Meet, February 2025 With consuming class increasing significantly High income Upper/Middle income Lower/middle income Low income 2022 Total HH 311 million Source: PRICE Projections based on ICE 360 surveys (2014, 2016, 2018), Fitch, Bain analysis 2030 356 million 274 million 335 million > INR 30L INR 5L-30L INR 1.25L – 5L INR <1.25L Per HH 60 million
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Analyst and Institutional Investor Meet, February 2025 Despite opportunities; challenges remain 2. Slowdown in consumption growth • Commodity inflation • Urban – rural consumption 3. Geopolitics 1. Evolving consumer trends • Premiumization & Consumer experience • Rising health consciousness • Out of Home Image for illustration purpose only
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Analyst and Institutional Investor Meet, February 2025 Our strategy To build on opportunities and address challenges The Virtuous Circle
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Analyst and Institutional Investor Meet, February 2025 1. Evolving consumer trends #1 Premiumization & consumer experience #2 Rising Health consciousness #3 Out of home
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Analyst and Institutional Investor Meet, February 2025 Aggressive premiumization as a journey …… for enhanced consumer experience • Premium products outpacing category growth • Nestlé has the brand portfolio to deliver Premiumization trend universal across urban and rural INR 7,500 crore Size of prize 16% Nestlé Premium portfolio CAGR since 2015 #1
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Analyst and Institutional Investor Meet, February 2025 Leveraging the premiumization trend Prepared dishes and cooking aids Powdered and Liquid Beverages Pet Care Confectionery Milk products and Nutrition #1
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Analyst and Institutional Investor Meet, February 2025 Leveraging the power of global trusted brands #2 Global share 1 5th largest India’s ranking in pet population globally 2 Competitive advantages • Deep consumer insights • Portfolio covers consumer landscape • World class R&D 1Euromonitor 2023 full year 2Euromonitor Power of ‘Pets’ Power of Purina Power of Nestlé #1
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Analyst and Institutional Investor Meet, February 2025 Elevating the coffee experience with ‘NESPRESSO’ Made in Switzerland 150,000 coffee farmers across 18 countries including India NESPRESSO website now Live Delivering Pan India across 16,000+ pin codes Delighting consumers with original and professional range NESPRESSO Boutique Coming soon…. https://www.nespresso.com/in/en/ #1
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Analyst and Institutional Investor Meet, February 2025 Science to address rising health consciousness Largest global R&D infrastructure in foods and beverage industry $ 1.8 billion R&D cost CY2023 4,000 + Employees 23 sites Image for illustration purpose only INR 3,400 crore Size of prize Prepared dishes and cooking aids Milk products and Nutrition INR 24,000 crore Medical Nutrition & General Wellness Joint Venture with Dr. Reddy’s #2 Source: Neilsen RMS 2024
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Analyst and Institutional Investor Meet, February 2025 Out of Home market expected to double by 2030 ------------ ‘Nestlé prepared with’ portfolio --------- #3 FS market to get more organized in coming years Gen Z & Millennials seeking new food experiences Cafés driving coffee culture
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Analyst and Institutional Investor Meet, February 2025 Promising exciting Out of Home experiences Freshly brewed coffee & tea machine: ‘Compatto’: Expanding branded collab with marquee customers Retail One : KitKat break zone Curated ‘Made with KITKAT’ menu Out of Home coffee solutions: NESPRESSO #3
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Analyst and Institutional Investor Meet, February 2025 Innovation our engine for growth Climate Action Responsible Sourcing 1.5 6.0 6.5 0 1 2 3 4 5 6 7 2016 2017 2018 2019 2020 2021 2022 2023-24 9M 2024- 25 ~150 New products launched in last 9 years New products Sales Contribution % 6.5% Contribution to sales Ambition 10% Contribution to Sales in medium term #3
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Analyst and Institutional Investor Meet, February 2025 2. Slowdown in consumption growth #1 Commodity inflation #2 Urban-rural consumption
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Analyst and Institutional Investor Meet, February 2025 Food inflation continues to hurt consumption Responsible Sourcing CPI Food CPI Source: MOSPI While headline inflation is moderating, high prices persist on select agri commodities Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 #1
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Analyst and Institutional Investor Meet, February 2025 Unprecedented commodity inflation Milk 20% 100 123 149 2016 2020 2024 Note: Year values have been indexed taking 2016 as the base Wheat 10% 100 113 140 2016 2020 2024 Coffee 13% 100 105 279 2016 2020 2024 Packaging 13% 100 106 125 2016 2020 2024 Cocoa 2% 100 77 187 2016 2020 2024 Edible Oils 11% 100 126 188 2016 2020 2024 #1
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Analyst and Institutional Investor Meet, February 2025 Pointed efficiencies across value chain 2016 2017 2018 2019 2020 2021 2022 2023 2024 X Accelerated economies of scale and sharp procurement strategies Calibrated consumer insight- based pricing decisions across all categories ~7,700 projects since 2016 on cost reduction, enhanced efficiency and speed of making decision 2X 3.8X Savings (INR billion) Buying efficiencies Manufacturing and conversion cost efficiencies Distribution cost 1.0% Savings % to sales 1.9% 1.5% #1
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Analyst and Institutional Investor Meet, February 2025 Slowdown in growth; rural outpacing urban 0 2 4 6 8 10 12 14 16 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 0 2 4 6 8 10 12 14 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 F&B growth F&B Urban-Rural growth Urban Rural Source: Neilsen RMS 2024 Urban unemployment Tepid real wage growth Post COVID moderation #2
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Analyst and Institutional Investor Meet, February 2025 Continue to expand outlet coverage Responsible Sourcing 1.3 1.3 1.3 1.3 1.4 1.4 1.5 1.6 1.7 2.7 2.9 3.2 3.3 3.3 3.7 3.6 3.6 3.6 4 4.2 4.5 4.6 4.7 5.1 5.1 5.2 5.3 2016 2017 2018 2019 2020 2021 2022 2023-24 2024 Indirect reach Direct reach Total reach (Nielsen) Highest gains amongst peers in 2024 #2 Source: Neilsen RMS 2024; Internal numbers
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Analyst and Institutional Investor Meet, February 2025 Our comprehensive RUrban strategy Infrastructure Visibility Portfolio Consumer connect 1 2 3 4 Technology #2
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Analyst and Institutional Investor Meet, February 2025 Accelerating RUrban presence Climate Action Responsible Sourcing 68,578 110,200 165,367 200,500 208,500 2020 2021 2022 2023-24 9M 2024-25 12,331 14,872 16,924 21,915 2021 2022 2023-24 9M 2024-25 Total village coverage Distribution touchpoints *Source: Nielsen RMS 2024 3.6 million* Total outlet reach (RUrban) 7,405 Towns covered #2
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Analyst and Institutional Investor Meet, February 2025 Backed by activation and feet on street Responsible Sourcing HAAT activation 2,502 20,605 30,175 17,900 - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 2021 2022 2023-24 9M 2024-25 2,211 2,419 3,020 3,250 3,400 - 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 2020 2021 2022 2023-24 9M 2024-25 9,728 16,000 23,000 29,000 - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 2021 2022 2023-24 9M 2024-25 Rurban smart stores Feet on the street #2
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Analyst and Institutional Investor Meet, February 2025 Managing increasing competitive intensity in RUrban Building awareness of taste and quality Offering value on INR 7 Launched variety at INR 10 Ensuring visibility in stores #2
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Analyst and Institutional Investor Meet, February 2025 Rapidly accelerating our e-commerce footprint Portfolio tailored to shopper needs Premium Coffee Wet Cat Food Chilled Dairy UHT Milk Targeted media/communication intervention Outcome Brand/ Co-create Thematic / Leading Platform Events Holistic supply chain approach for Q-Comm Region Level Planning Accuracy via Collaborative planning Dynamic Fast Replenishment Best Service Levels + 8.5% Contribution % in 2024 Vs. 1% in 2016 32.6% Growth 9M 2024-25 vs. 9M 2023-24 #2
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Analyst and Institutional Investor Meet, February 2025 Bringing the Virtuous Circle to life Purpose : Inspiring individuals towards greater trust and responsibility. People : Empowering employees and instilling diversity and inclusion Planet : Embracing sustainable practices to reduce environmental impact Partnerships : Building strong relationships with stakeholders Performance : Strong performance is a natural outcome of a Company that prioritizes purpose, people, planet, and partnerships.
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Analyst and Institutional Investor Meet, February 2025 Performance Creating value for all stakeholders
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Analyst and Institutional Investor Meet, February 2025 Penetration led volume growth Climate Action Responsible Sourcing 269 705 2015 2016 2017 2018 2019 2020 2021 2022 2023-24 411 411 9M 2023-24 9M 2024-25 Domestic Volumes (‘000 tonnes) 2023-24 comprises of 15 months period from 01/01/2023 to 31/03/2024 and hence the figures are not comparable with the previous f inancial years which were for 12 months 9.5% CAGR CY2015-23
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Analyst and Institutional Investor Meet, February 2025 Consistent organic growth Climate Action Responsible Sourcing *2016 growth is restated due to IND-AS implementation **2015 Sales impacted due to MAGGI issue 2023-24 comprises of 15 months period from 01/01/2023 to 31/03/2024 and hence the figures are not comparable with the previous financial years which were for 12 months 75 233 0 50 100 150 200 250 2015 2016 2017 2018 2019 2020 2021 2022 2023-24 137 141 0 20 40 60 80 100 120 140 160 9M 2023-24 9M 2024-25 Domestic Sales (INR billion) 11.2% CAGR CY2015-23 +3%
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Analyst and Institutional Investor Meet, February 2025 Accelerating profit from operations Climate Action Responsible Sourcing 16.4 17.6 18.1 21.0 21.1 21.7 22.0 20.0 22.0 0 5 10 15 20 25 0 10 20 30 40 50 60 2015 2016 2017 2018 2019 2020 2021 2022 2023-24 Profit from operations (INR billion) Margin % 2023-24 comprises of 15 months period from 01/01/2023 to 31/03/2024 and hence the figures are not comparable with the previous f inancial years which were for 12 months 0 5 10 15 20 25 30 35 40 45 9M 2023-24 9M 2024-25 21.7 20.9 15.1% CAGR CY2015-23
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Analyst and Institutional Investor Meet, February 2025 Best in class return on equity Climate Action Responsible Sourcing 2023-24 comprises of 15 months period from 01/01/2023 to 31/03/2024 and hence the figures are not comparable with the previous f inancial years which were for 12 months 19.9 32.8 36.6 45.3 70.4 105.8 111.0 108.5 108.5 0 20 40 60 80 100 120 2015 2016 2017 2018 2019 2020 2021 2022 2023-24 Return on average equity %
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Analyst and Institutional Investor Meet, February 2025 Our value creation journey continues 314% Total Shareholders Return (2015-2023) 17.1% Annualized Return (incl dividends; 2015-2023) *As at 31st December 2024; INR Billion is INR 100 crore. Source: Bombay Stock Exchange. INR 562 billion 2015 USD 8.5 billion (1 USD= INR 66.02) INR 2,093 billion Dec 2024* USD 24.5 billion (1 USD= INR 85.6) Market Capitalization Up 3.7 times; 1.4 times vs. FMCG Benchmark Index 3.1X CY2023 Vs. CY2015 Operating cashflow generated
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Analyst and Institutional Investor Meet, February 2025 Partnership Growing together
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Analyst and Institutional Investor Meet, February 2025 Growing together to go far 5.3 million Retail outlets ~4,500 Suppliers 280,000+ Farmers 10,000+ Distributors and re-distributors 10+ Direct and indirect sustainability partners Joint venture Nestlé India and Dr. Reddy’s
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Analyst and Institutional Investor Meet, February 2025 Joining hands to enrich lives through Nutrition Combining synergies on product portfolio and distribution reach 49% 51% New launches on the anvilDouble digit growthIntegration successfully completed
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Analyst and Institutional Investor Meet, February 2025 Leveraging industry partnerships for logistics excellence Strengthen Safety & Quality Grow customer centricity and growth State of the art racking, shuttle and automation 50+ vendors 20+ authorities 1,000+ manpower Strong partnership 13 DCs transformed 55% Sales covered 1,500+ Customers touched
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Analyst and Institutional Investor Meet, February 2025 People Where people make the difference
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Analyst and Institutional Investor Meet, February 2025 Nurturing an inclusive and diverse work culture Building an inclusive future • Fostering Diversity, Equity and Inclusion • 36 persons with disabilities • Inclusive workplace for LGBT+ Revitalizing onboarding • Revamped onboarding experience • ‘People experience framework’ provides seamless transition to their new role Encouraging gender diversity • Board of Directors - 50% women • Among the highest representation of women in FMCG field force at 21% • 25% white-collar Gender diversity
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Analyst and Institutional Investor Meet, February 2025 People centered Nestlé Nurturing young talent - Nesternship • Exposure to 2,300 + interns since 2020 • Building a talent pipeline Investing in employee wellbeing • Mental health sessions extended to blue-collar employees & families • Interactive sessions for women with health experts Fostering valued relationships • Attrition rate 10% • Sustained industrial relations
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Analyst and Institutional Investor Meet, February 2025 Planet Committed to caring for our planet
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Analyst and Institutional Investor Meet, February 2025 Sustainable Nestlé Climate Action Responsible Sourcing Climate Action Sustainable P ackaging Caring for Water Responsible Sourcing Accelerating efforts No plastic ends in the landfills Sustainably sourced key ingredients Making every drop count
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Analyst and Institutional Investor Meet, February 2025 Committed to reducing Green House Gas Emissions Climate Action Responsible Sourcing For the period 2008 to 2023-24; Data per ton of production GHG emissions 61% Energy usage 29% Water usage 46% Generation of wastewater 60% Plastic neutral since 2020
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Analyst and Institutional Investor Meet, February 2025 Environment friendly manufacturing boosts sustainability Climate Action Responsible Sourcing Biomass Boiler Reducing reliance on fossil fuels Promotion of circular economy We procure 4% of stubble in Moga district Reduction in GHG emissions Creating additional income avenues for farmers
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Analyst and Institutional Investor Meet, February 2025 Sustainable sourcing Coffee Climate Action Responsible Sourcing For the period 2008 to 2023-24; Data per ton of production 5,000 + coffee farmers engaged ~55% coffee procured sustainably Regenerative agricultural practices to address GHG emissions
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Analyst and Institutional Investor Meet, February 2025 Brand communication around sustainability Climate Action Responsible Sourcing KITKAT Recyclable Wrapper NESCAFÉ film – Earth day 2-minute Safaai ke naam
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Analyst and Institutional Investor Meet, February 2025 Purpose Staying true to our purpose
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Analyst and Institutional Investor Meet, February 2025 Being a force for good Data till March 31, 2024; * Direct and indirect beneficiaries ~14 million* beneficiaries Livelihood Project Serve Safe Food – 68,500 street food vendors Education Project Jigyasa – 20 schools Water & Sanitation ~300,000 beneficiaries Rural development Project Vriddhi – 18,000 beneficiaries Nutrition awareness Project Jagriti – 12.7 million + beneficiaries Nestlé Healthy Kids - 600,000+ adolescents, 56,000 parents Environment Project Hilldaari – 7 cities
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Analyst and Institutional Investor Meet, February 2025 15 years of Nestlé Healthy Kids Aimed at adolescents and parents Promotes healthy lifestyles 600,000 adolescents 56,000 parents
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Analyst and Institutional Investor Meet, February 2025 5 years of Project Vriddhi Strengthen community led rural development Water and sanitation Raising nutrition awareness Setting up digital learning centres ~ 18,000 beneficiaries across 14 villages
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Analyst and Institutional Investor Meet, February 2025 Plastic waste management: Project Hilldaari Diverted ~15,700 MT of waste from landfill Professionalized 1,100+ waste workers Present across 7 cities
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Analyst and Institutional Investor Meet, February 2025 Digital Our mantra for the future
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Analyst and Institutional Investor Meet, February 2025 Our approach to digital transformation Generate Demand Secure Supply Lean Out( Central Functions) CONSUMER Personalized experiences at moment that matter using Gen-AI, PII & Tech CUSTOMER VALUE CHAIN EMPLOYEE Drive efficiencies at scale through future-ready digital connected operations Go deeper to capture opportunities by use of Next-Gen Technology “Everyday AI” powering employees in decision- making through Insights at a prompt EVERYDAY TRANSFORMATION Rooted in Capability transformation GAME CHANGING TRANSFORMATION Rooted in Value-Chain transformation
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Analyst and Institutional Investor Meet, February 2025 Power of technology, analytics & interconnected data AI Powered Content Creation & Translation Conversation AI Websites: MyNestle, Maggi AI powered eB2B personalized experience Accelerated RUrban Engagement with RD- DMS RACE: Insight Driven Activity Planning and Execution Vision Analytics @ core of people safety New-Age DC Powered by: Robotics, AR/VR, Smart Automation, AI/ML focused on Agility, Customer Centricity & Sustainability AI/ML based safety and security monitoring Setting the foundation for Industry 4.0 Personalised Command Centre for Nutrition Business Gen-AI for Everyday Transformation Custom Bots for employees CONSUMER CUSTOMER VALUE CHAIN EMPLOYEE
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Analyst and Institutional Investor Meet, February 2025 Nestlé India AI journey All Human No AI Level 0 Level 1 Level 2 Level 3 Level 4 BUILDING DATA SETS 2019 AI at Task Level AI at Task Level AI at Workflow Level AI at Workflow Level AI to Manage Work-arounds Transformative AI 2020 2021 2022 2023 2024 2025MSS Must sell SKU Month End Forecast Predictive Prescriptive Predictive + Prescriptive POC’s Retailer Segmentation Category growth Demand Forecast Model GT NCVP Visibility Program Outlets Geo Hash Model PFME Resource Allocation MROI - Marketing Return on Investment OT/E-com Off- take Model GEN-AI Nutri-coach MIDAS GPT
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Analyst and Institutional Investor Meet, February 2025 Key takeaways Core strategies and consistent results 01 Competence building in changing contexts 02 Technology plus – digital and more 03
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Analyst and Institutional Investor Meet, February 2025 Key takeaways Premiumization and growing the core as key strategies 04 Sustainable partnerships and sustainable environment 05 People bias and execution focus 06
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Analyst and Institutional Investor Meet, February 2025 Consistency Collaboration Commitment …Our Promise.