The shares of Nestle India were up by 2 percent in the day’s opening after the company announced its consideration for interim dividend and stock-split.
At 9:20 a.m the shares of Nestle India were trading at Rs. 23,348 up by 2 percent from its previous day close price and the market capitalization of the company is 2,18,555.
According to the company’s filing on BSE, Nestle India has scheduled a meeting of board of directors on October 19, 2023, to consider the declaration of the second interim dividend of the year 2023, the record date for determining the entitlement of second interim dividend for the year 2023 would be November 1, 2023 and the payment date would be on or from November 16, 2023.
It is also considering the alteration of share capital of the company by sub-division/ split of existing equity shares having face value of Rs. 10/- each, fully paid up.
The company’s revenue has increased by 14.63 percent from 14,740.59 Cr in FY22 to 16896.96 Cr in FY23, accompanied by increasing profits of 2,118.41 Cr to 2,390.52 Cr.
The company has reported a return on equity (ROE) of 108.52 percent and return on capital employed (ROCE) of 152.61 percent, this indicates that the company is making massive returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 62.76 percent stake, the Domestic Institutional Investors hold 9.05 percent and the Foreign Institutional Investors (FII) hold 12.38 percent.
Nestlé India is the Indian subsidiary of Nestle which is a Swiss MNC, it is the world’s largest food and beverage company with more than 2000 brands ranging from global icons to local favourites.
Written by: Bharat K.S
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