Nestlé India Limited

(CIN : L15202DL1959PLC003786)
Nestlé House
Jacaranda Marg
‘M’Block, DLF City, Phase – II
Gurugram – 122002, Haryana
Phone: 0124 – 3940000
E-mail: investor@in.nestle.com
Website: www.nestle.in
PKR:SG:JK: 5:2025-26 24th April 2025
BSE Limited (BSE) National Stock Exchange of India Limited (NSE)
Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1,
Dalal Street, G Block, Bandra-Kurla Complex,
Mumbai - 400 001 Bandra (East), Mumbai - 400 051
BSE Scrip Code: 500790 NSE Symbol: NESTLEIND
Subject: Outcome of Board Meeting:
1. Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing
Regulations”): Audited Financial Results (standalone and consolidated) for the financial year 2024-25;
2. Regulation 30 of the Listing Regulations: a) Recommended final dividend for the financial year
2024-25; b) Recommended re-appointment of Mr. PR Ramesh as an Independent Non-Executive Director;
c) Recommended appointment of Mr. Manish Tiwary as Managing Director to the members and as Key
Managerial Personnel; d) Approved and recommended the appointment of Secretarial Auditor; and
e) Convening of 66th Annual General Meeting (“AGM”) on Thursday, 26th June 2025 through Video
Conferencing/ Other Audio-Visual Means (VC/ OAVM).
3. Regulation 42 of the Listing Regulations: 66th AGM and Record Date of 4th July 2025 for determining the
entitlement of final dividend for the financial year 2024-25, if any.
Dear Madam/ Sir,
This is to inform you that the Board of Directors of the Company, at its meeting held today, inter alia, considered and approved
the following:
1. Audited Financial Results (standalone and consolidated) for the financial year 2024-25 (“AFRs”). Enclosed are the
AFRs along with the Report of the Auditors thereon; the declaration in respect of Audit Reports with unmodified opinion
for the financial year 2024-25; and Press Release relating to the results. The AFRs shall be published in the
newspapers as required under the Listing Regulations. The above are also being uploaded on the Company’s website
at www.nestle.in.
2. Audited Financial Statements (standalone and consolidated) for the financial year 2024-25 including Balance Sheet as
on 31st March 2025 and Statement of Profit and Loss and the Cash Flow Statement for the financial year ended on that
date.
3. Recommended final dividend of Rs. 10/- (Rupees ten only) per equity share of the face value of Re. 1/- (Rupee one
only) each for the financial year 2024-25 on the entire issued, subscribed and paid-up share capital of the Company of
964,157,160 equity shares of face value of Re. 1/- (Rupee one only) each.
4. On the recommendation of the Nomination and Remuneration Committee, re-appointment of
Mr. Prathivadibhayankara Rajagopalan Ramesh (DIN: 01915274) [Mr. PR Ramesh] as an Independent Non-Executive
Director of the Company for a second term of five consecutive years with effect from 1st July 2025, subject to approval
of members at the ensuing 66th AGM. Details in accordance with the Listing Regulations read with SEBI Master Circular
No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024 is given in Annexure - I to this letter.
5. On the recommendation of the Nomination and Remuneration Committee, recommended the appointment of
Mr. Manish Tiwary (DIN: 02572830) as Managing Director of the Company for a period of five consecutive years with
effect from 1st August 2025, subject to the approval of the members at the ensuing 66th AGM. Details in accordance

Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi – 110 001
Nestlé India Limited
(CIN : L15202DL1959PLC003786)
Nestlé House
Jacaranda Marg
‘M’Block, DLF City, Phase – II
Gurugram – 122002, Haryana
Phone: 0124 – 3940000
E-mail: investor@in.nestle.com
Website: www.nestle.in
with the Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated
11th November 2024 (earlier SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023) were
previously disclosed by the Company vide its letter no. PKR:SG 90:24 dated 17th October 2024.
During the transition period as Managing Director (Designate), the Board of Directors, on the recommendation of the
Nomination and Remuneration Committee, also appointed Mr. Manish Tiwary as Key Managerial Personnel of the
Company with effect from 24th April 2025. Details in accordance with the Listing Regulations read with SEBI Master
Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024 is given in Annexure - II to this letter.
6. On the recommendation of the Audit Committee, appointment of M/s. S.N. Ananthasubramanian & Co., Practicing
Company Secretaries (Firm Registration Number: P1991MH040400) as Secretarial Auditor of the Company for a
period of five consecutive years commencing from financial year 2025-26 till financial year 2029-30, subject to approval
of members at the ensuing 66th AGM. Details in accordance with the Listing Regulations read with SEBI Master Circular
No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024 is given in Annexure - III to this letter.
7. Convening of 66th AGM of the Company on Thursday, 26th June 2025, through Video Conferencing/ Other Audio-Visual
Means (VC/ OAVM) and fixed Friday, 4th July 2025 as Record Date for the purpose of determining entitlement of the
members to the final dividend for the financial year 2024-25, if approved by the members at the
ensuing 66th AGM, which shall be paid on and from Thursday, 24th July 2025. Enclosed is the intimation of the Record
Date. The same shall also be uploaded on the Company’s website at www.nestle.in. Soft copy of the Annual Report
and Notice of the 66th AGM shall be sent in due course.
The meeting of the Board of Directors commenced at 9:00 hours and the above agenda items concluded at 11:10 hours.
This is for your information and record.
Thanking you,
Yours truly,
NESTLÉ INDIA LIMITED
Digitally signed by PRAMOD KUMAR RAI
DN: cn=PRAMOD KUMAR RAI c=IN o=PERSONAL
Date: 2025-04-24 11:30+05:30

PRAMOD KUMAR RAI

COMPANY SECRETARY AND COMPLIANCE OFFICER
Encl.: as above

Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi – 110 001
 Niitli
NESTLE INDIA LIMITED
Registered Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001

Standalone Financial Results for the Quarter and Financial Year Ended 31 st March 2025
c, in million)
Corresponding Financial year
Financial year comparable (fifteen
Three months ended
ended twelve months months)
Particulars ended# ended

31.03.2025 31.12.2024 31.03.2024 31.03.2025 31.03.2024 31.03.2024

(Audited]# (Un-audited] (Audited]# (Audited] (Un-audited] (Audited]
A Income
52,349.8 45,660.5 50,216.1 Domestic sales 192,926.7 186,879.0 233,006.2
2,126.6 1,960.8 2,328.2 Export sales 7,848.3 7,791.9 9,748.6
54,476.4 47,621.3 52,544.3 Sale of Products 200,775.0 194,670.9 242,754.8
562.4 176.0 131.6 Other operating revenue 1,240.6 962.8 1,184.1
55,038.8 47,797.3 52,675.9 i Revenue from Operations 202,015.6 195,633.7 243,938.9
84.4 44.4 267.5 ii Other income 588.6 1,142.7 1,479.6
55,123.2 47,841.7 52,943.4 Total Income 202,604.2 196,776.4 245,418.5
B Expenses
23,458.7 20,758.2 21,619.3 i Cost of materials consumed 83,901.5 80,342.3 102,168.8
1,655.9 1,217.2 1,196.0 ii Purchases of stock-in-trade 4,993.1 4,374.2 5,373.7
(990.2) (1,129.4) (56.7) iii Changes in inventories of finished goods, work in progress and stock-in-trade (1,396.6) 53.8 (456.8)
5,219.8 4,946.6 4,868.8 iv Employee benefits expense 20,237.1 18,818.0 23,360.6
375.0 346.0 262.0 V Finance costs (including interest cost on employee benefits plans) 1,360.0 1,084.8 1,454.9
1,553.4 1,502.7 1,101.0 vi Depreciation and amortisation 5,399.2 4,547.4 5,677.5
11,600.9 10,811.5 11,507.4 vii Other expenses 45,777.2 44,160.3 54,397.2
204.1 166.3 40.6 viii Corporate social responsibility expense 766.2 455.1 597.6
43,077.6 38,619.1 40,538.4 Total Expenses 161,037.7 153,835.9 192,573.5
12,045.6 9,222.6 12,405,0 C Profit Before Exceptional Items and Tax (A-B) 41,566,5 42,940,5 52,845.0
- - (100.8) D Exceptional items [Charge / (Credit)] (2,908.2) (43.7) (43.7)
12,045.6 9,222.6 12,505.8 E Profit Before Tax (C-D) 44,474.7 42,984.2 52,888.7
F Tax Expense:
2,997.7 2,210.0 3,159.8 Current tax 10,951.8 10,571.6 13,156.8
193.8 51.3 4.3 Deferred tax 377.9 450.5 403.5
8,854.1 6,961.3 9,341.7 G Profit for the Period (E-F) 33,145.0 31,962.1 39,328.4
H Other Comprehensive Income
a. (i) Items that will not be reclassified to profit or loss
241.1 (1,330.1) (144.7) - Re-measurement of retiral defined benefits plans (1,076.7) 120.3 (573.3)
(60.7) 334.8 36.5 (ii) Income taxes relating to items that will not be reclassified to profit or loss 271.0 (30.3) 144.3

b. (i) Items that will be reclassified to profit or loss

28.5 (19.4) (3.9) - Changes in fair value of cash flow hedges 12.4 (9.5) (0.5)
(7.1) 4.8 0.9 (ii) Income taxes relating to items that will be reclassified to profit or loss (3.1) 2.1 0.1

201.8 (1,009.9) (111.2) Total Other Comprehensive Income (a+b) (796.4) 82.6 (429.4)
9,055.9 5,951.4 9,230.5 I Total Comprehensive Income (G+H) 32,348.6 32,044.7 38,899.0
964.2 964.2 964.2 J Paid-up equity share capital (Face value - U Per share) • 964.2 964.2 964.2
40,207.3 44,890.6 32,444.7 K Other equity 40,207.3 32,444.7 32,444.7
L Earnings Per Share (EPS) (not annualized for quarters)
9.18 7.22 9.69 Basic / Diluted EPS (") 34.38 33.15 40.79
Additional information:
12 540.3 9,690.5 12 440.1 Profit from ooerations re - A(ii) + BM + B(viiDl 43 104.1 43 337.7 53.417.9

* Effective from 5th January 2024, 1 (one) equity share having face value of U0.00 (Rupees ten only) each, was sub-divided into 10 (ten) equity shares having face value of U.00 (Rupee one only) each.
# Refer note 8
 Standalone Balance Sheet as at 31st March 2025
(' in million)
Asat Asat
Particulars 31.03.2025 31.03.2024
(Audited) (Audited)
A ASSETS
1 NON-CURRENT ASSETS
(a) Pro~rty plant & equipment 49,256.5 30 556.7
(b) Capital work in-progress 11,725.6 17 417.1
(c) Right of use assets 5,479.6 4 045.8
(d) Financial assets
(i) Investments 7 056.0 4 238.9
(ii) Loans 80.9 80.1
(iii) Other financial assets 554.0 565.1
(e) Other non-current assets 11,744.7 13,379.7
NON-CURRENT ASSETS 85,897.3 70,283.4
2 CURRENT ASSETS
(a) Inventories 28,501.4 20,893.6
(b) Financial assets
(i) Investments - 399.8
(ii) Trade receivables 3,631.5 3,004.6
(iii) Cash and cash equivalents 761.8 7 588.7
(iv) Bank balances other than cash and cash equivalents 194.7 199.8
(v) Loans 103.1 110.1
(vi) Other financial assets 247.2 462.7
(c) Other current assets 3 901.9 2 287.9
CURRENT ASSETS 37,341.6 34,947.2
TOTAL-ASSETS 123,238.9 105,230.6

B EQUITY AND LIABILmES

EQUITY
(a) Equity share capital 964.2 964.2
(b) Other equitv 40 207.3 32 444.7
EQUITY 41,171.5 33,408.9
LIABILmES
1 NON-CURRENT LIABILITIES
(a) Financial liabilities
(i) Borrowings 224.8 254.8
(ii) Lease liabilities 3 415.3 2 559.2
(b) Provisions 30 901.5 29 172.0
(c) Deferred tax liabilities (net) 535.9 120.4
(d) Other non-current liabilities 136.4 154.6
NON-CURRENT LIABILITIES 35,213.9 32,261.0
2 CURRENT LIABILITIES
(a) Financial liabilities
(i) Borrowings 7,308.6 56.6
(ii) Lease liabilities 719.8 574.7
(iii) Trade oavables
Total outstanding dues of micro enterprises and small enterprises 4,170.9 3,532.6
Total outstanding dues of creditors other than micro enterprises and small enterprises 19,564.4 18,846.3
(iv) Payables for capital expenditure
Total outstanding dues of micro enterprises and small enterprises 430.3 561.4
Total outstanding dues of creditors other than micro enterprises and small enterprises 2,072.5 5 179.8
(v) Other financial liabilities 7,553.0 6 417.2
(b) Other current liabilities 2,158.7 1393.8
(c) Provisions 2,422.8 2,616.2
(d) Current tax liabilities (net) 452.5 382.1
CURRENT LIABILITIES 46,853.5 39,560.7
TOTAL - EQUITY AND LIABILITIES 123,238.9 105,230.6
 Standalone Statement of Cash Flows for Financial Year Ended 31 st March 2024
(' in million)
Financial Financial year
year ended (fifteen months
Particulars
ended)#
31.03.2025 31.03.2024
A CASH FLOWS FROM OPERATING ACTIVITIES
PROFIT BEFORE TAX 44,474.7 52,888.7
Adjustments for:
Depreciation and amortisation expense 5,399.2 5,677.5
Loss/ (profit) on property, plant and equipment sold/scrapped/written off (net) (23.8) (66.6)
Interest income (588.6) (1,479.6)
Interest on bank overdrafts and others 80.3 16.1
Gain on disposal of businesses (2,908.2) -
Interest on lease liabilities 270.2 243.9
Allowance for impairment on financial assets (32.8) (6.8)
Unrealised exchange differences 48.2 (48.9)
CASH GENERATED FROM OPERATIONS BEFORE WORKING CAPITAL AND OTHER CHANGES 46,719.2 57,224.3
Adjustments for:
Decrease/(increase) in trade receivables (700.0) (1,088.1)
Decrease/(increase) in inventories (7,671.0) (1,605.9)
Decrease/(increase) in other financial assets & other assets (1,992.3) (212.5)
Increase/(decrease) in trade payable 1,341.2 3,098.3
Increase/(decrease) in other financial liabilities & other liabilities 1,944.5 700.1
Increase/(decrease) in provision for contingencies 495.1 (1,015.9)
Increase/(decrease) in provision for employee benefits (529.2) (2,364.8)
CASH GENERATED FROM OPERATIONS 39,607.5 54,735.5
Income taxes paid (net of refunds) (10,244.0) (12,987.6)
NET CASH GENERATED / (USED IN) FROM OPERATING ACTIVITIES 29,363.5 41,747.9

B CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment including capital work in progress (20,086.4) (18,826.7)
Proceeds from sale of property, plant and equipment 42.5 43.7
Proceeds from sale / redemption of tax free bonds and investments 4,238.9 2,837.9
Investment in equity shares of associate (7,056.0) -
Proceed from sale of businesses net of tax 2,664.7 -
Amount received from insurance pension plan - separations 1,325.8 1,898.1
Decrease/(increase) in loans to employees 6.2 2.4
Interest received on bank deposits, investments, tax free bonds etc. 755.3 1,670.4
NET CASH USED IN INVESTING ACTIVITIES (18,109.0) (12,374.2)

C CASH FLOWS FROM FINANCING ACTIVITIES

Payment of deferred VAT liabilities under state government schemes (53.2) (45.9)
Receipt of deferred VAT liabilities under state government schemes - 38.0
Proceeds from short term borrowing and overdraft from banks 7,257.0 -
Interest on bank overdraft and others (67.0) (16.1)
Interest on lease liabilities (270.2) (243.9)
Principal payment of lease liabilities (761.8) (999.5)
Dividends paid (24,586.0) (30,081.8)
NET CASH USED IN FINANCING ACTIVITIES (18,481.2) (31,349.2)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) (7,226.7) (1,975.5)
cash and cash equivalents 7,588.7 9,265.5
Current investments 399.8 698.5
TOTAL CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD (AS PER IND AS 7) 7,988.5 9,964.0
cash and cash equivalents 761.8 7,588.7
Current investments - 399.8
TOTAL CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (AS PER IND AS 7) 761.8 7,988.5

NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS (7,226.7) (1,975.5)

#Refer note 8
Notes:

1. Financial results have been presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations 2015, Ind-AS and Schedule III (Division II) to the Companies Act, 2013.

2. The Company has made an investment for 49% stake in Dr. Reddy's and Nestle Health Science Limited for development of nutraceutical
business (refer note 6 below). Pursuant to this, the investee entity has become an associate of the Company with effect from 24th July
2024. In compliance with section 129(3) of Companies Act, 2013 the financial results of the Company have been presented on
standalone as well as consolidated basis.

3. For better understanding of the financial performance, the Company has chosen to present profit from operations as an additional
information. Profit from operations is derived from profit before exceptional items & tax less other income and adding back finance costs
(including interest cost on employee benefits plans) and corporate social responsibility expense.

4. The figures for the financial year ended 31st March 2025 are not comparable to the previous financial year ended 31 st March 2024 since
the previous financial year was for a period of fifteen months i.e., 1st January 2023 to 31 st March 2024 due to transition to uniform
financial year. Comparisons are with reference to quarter ended 31 st March 2024 unless otherwise specified :

a) Total sales and domestic sales for the quarter ended 31st March 2025 increased by 3.7% and 4.2% respectively.
b) Cost of materials consumed [B(i)+B(ii)+B(iii)] as a% to sales has increased from 43.3% to 44.3% for the quarter ended 31st March
2025.

5. The Board of Directors have recommended a final dividend for the financial year ended 31 st March 2025 of" 10.00 per equity share (face
value of" 1/- each) amounting to ,9,641.6 million. Besides the aforementioned final dividend, the total dividend for the financial year
ended 31 st March 2025 includes first interim dividend of ,2.75/- per equity share (face value of" 1/- each), second interim dividend of
"14.25 per equity share (face value of U/- each) paid on 06th August 2024 and 27th February 2025 respectively.

6. Exceptional items for the financial year ended 31 st March 2025 comprise of gain on slump sale of the businesses mentioned below:
a) Nutraceutical Business ("NHSc") to Dr. Reddy's and Nestle Health Science Limited.
b) Nestle Business Services ('NBS1 Division to Nestle Business Services India Private Limited (Formerly known as Purina PetCare India
Private Limited).

7. Based on the guiding principles given in Ind AS 108 Operating Segments, the Company's business activity falls within a single operating
segment, namely Food. Accordingly, no separate segment information has been provided.

8. Figures of last quarter are the balancing figures between the published audited figures of the financial year and the published unaudited
figures upto the period ended 31 st December.
As previous financial year was for a period of fifteen months i.e., 1st January 2023 to 31 st March 2024 due to transition to uniform financial
year, the Company has chosen to additionally present the figures for comparative twelve months period ended 31 st March 2024. These are
balancing figures between the published audited figures of the financial year ended 31 st March 2024 and the published unaudited figures
for quarter ended 31 st March 2023.
9. Figures for previous year / period have been regrouped wherever necessary.

THE ABOVE RESULTS AND THIS RELEASE HAVE BEEN REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD AT THEIR MEETING HELD ON
23 rd APRIL 2025 AND APPROVED BY THE BOARD OF DIRECTORS AT THEIR MEETING HELD ON 24th APRIL 2025.

For and on behalf of the Board

SURESH Digitally signed by SURESH

NARAYANAN
NARAYANAN Date: 2025.04.241 0:5S:21 +05'30'

Date: 24th April 2025 Suresh Narayanan

Place: Nanjangud Chairman and Managing Director

Head Office: Nestle House, Jacaranda Marg, M Block, DLF City Phase - II, Gurugram 122 002 (Haryana)
Registered Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001
Corporate Identity Number: L15202DL1959PLC003786
Email ID: investor@in.nestle.com, Website: www.nestle.in
Phone: 011-23418891
S.R. BAruB01 & Co. LLP 67, Institutional Area
Sector 44, Gurugram - 122 003
·Chutered Mcountonts Haryana, India

Tel: +91124 6816000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of
the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended

To
The Board of Directors of
Nestle India Limited
Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of Nestle
India Limited (the "Company") for the quarter ended March 31 , 2025 and for the year ended March 31 , 2025
("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing
Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
11. gives a true and fair view in conformity with the applicable accounting standards and other
accounting principles generally accepted in India, of the net profit and other comprehensive loss and
other financial information of the Company for the quarter ended March 31, 2025 and for the year
ended March 31, 2025 .

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of
the Companies Act, 2013 , as amended (''the Act"). Our responsibilities under those Standards are further described
in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are
independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered
Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements
under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us
is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of
Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true
and fair view of the net profit and other comprehensive loss of the Company and other financial information in
accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant
rules issued thereunder and other accounting principles generally accepted in India and in compliance with
Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a
true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has
no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.
S.R. BATLIBOI & Co. LLP

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material
misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design
and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing
our opinion on whether the company has adequate internal financial controls with reference to financial
statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company's ability to continue as a going concern. Ifwe
conclude that a material uncertainty exists, we are required to draw attention in our auditor' s report to the
related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future
events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and
whether the Statement represents the underlying transactions and events in a manner that achieves fair
presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The Statement includes the results for the quarter ended March 31, 2025 being the balancing figure between the
audited figures in respect of the full financial year ended March 31, 2025 and the published unaudited/ year-to-
date figures up to the third quarter of the current financial year, which were subjected to a limited review by us,
as required under the Listing Regulations.
S.R. BATLIBOI & Co. LLP

Also, the Statement includes the results for the comparative twelve months period ended March 31, 2024, being
the balancing figure between the audited figures for the fifteen months period ended March 31, 2024 and the
published unaudited figures for the quarter ended March 31, 2023 which was subject to a limited review by us.
Also refer note 8 to the accompanying statement.

For S.R. BA TLIBOI & Co. LLP

Chartered Accountants
ICAI Firm Registration Number: 301003E/E300005
Digitally signed by Pankaj Chadha
Pankaj ON : cn=Pankaj Chaclha, c=IN,
o=Personal,
email=pankaj.chadha@srb.in
Chadha Date: 2025.04.24 11 :07:04
+05'30'
per Pankaj Chadha
Partner
Membership No.: 091813
UDIN: 25091813BMORCZ4440

Place: Gurugram, Haryana

Date: April 24, 2025
 latNiilli
NESTLE INDIA LIMITED
Registered Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001

consolidated Fjnancjal Results for the ouarter and Fjnancjal Year Ended 31 ot March 202s
c, in million)
Corresponding Financial year
Financial year comparable (fifteen
Three months ended
ended twelve months months)
Particulars
ended# ended
31.03.2025 31.12.2024 31.03.2024 31.03.2025 31.03.2024 31.03.2024
(Audited)# (Un-audited) (Audited)# (Audited) (Un-audited) (Audited)
A Income
52,349.8 45,660.5 50,216.1 Domestic sales 192,926.7 186,879.0 233,006.2
2,126.6 1,960.8 2,328.2 Export sales 7,848.3 7,791.9 9,748.6
54,476.4 47,621.3 52,544.3 Sale of Products 200,775.0 194,670.9 242,754.8
562.4 176.0 131.6 Other operating revenue 1,240.6 962.8 1,184.1
55,038.8 47,797.3 52,675.9 i Revenue from Operations 202,015.6 195,633.7 243,938.9
84.4 44.4 267.5 ii Other income 588.6 1,142.7 1,479.6
55,123.2 47,841.7 52,943.4 Total Income 202,604.2 196,776.4 245,418.5
B Expenses
23,458.7 20,758.2 21,619.3 i Cost of materials consumed 83,901.5 80,342.3 102,168.8
1,655.9 1,217.2 1,196.0 ii Purchases of stock-in-trade 4,993.1 4,374.2 5,373.7
(990.2) (1,129.4) (56.7) iii Changes in inventories of finished goods, work in progress and stock-in-trade (1,396.6) 53.8 (456.8)
5,219.8 4,946.6 4,868.8 iv Employee benefits expense 20,237.1 18,818.0 23,360.6
375.0 346.0 262.0 V Finance costs (including interest cost on employee benefits plans) 1,360.0 1,084.8 1,454.9
1,553.4 1,502.7 1,101.0 vi Depreciation and amortisation 5,399.2 4,547.4 5,677.5
11,600.9 10,811.5 11,507.4 vii Other expenses 45,777.2 44,160.3 54,397.2
204.1 166.3 40.6 viii Corporate social responsibility expense 766.2 455.1 597.6
43,077.6 38,619.1 40,538.4 Total Expenses 161,037.7 153,835.9 192,573.5
12,045.6 9,222.6 12,405.0 C Profit Before Share of (Profit)/Loss of an Associate, Exceptional Items 41,566.5 42,940.5 52,845.0
and Tax (A-B)
124.2 78.1 - D Share of lcrofit) / loss of Associate net of tax 239.5 - -
11,921.4 9,144.5 12,405.0 E Profit Before ExceDtional Items and Tax CC-D) 41,327.0 42,940.5 52,845.0
- - (100.8) F Exceptional items [Charge/ (Credit)] (1,834.2) (43.7) (43.7)
11,921.4 9,144.5 12,505.8 G Profit Before Tax (E-F) 43,161.2 42,984.2 52,888.7
H Tax Expense:
2,998.8 2,210.0 3,159.8 Current tax 10,951.8 10,571.6 13,156.8
188.0 54.4 4.3 Deferred tax 133.5 450.5 403.5
8,734.6 6,880.1 9,341.7 I Profit for the Period (G-H) 32,075.9 31,962.1 39,328.4
l Other Comprehensive Income
a. (i) Items that will not be reclassified to profit or loss
241.1 (1,330.1) (144.7) - Re-measurement of retiral defined benefits plans (1,076.7) 120.3 (573.3)
(0.3) - - -Share of other comprehensive income of associate accounted for using (0.3) - -
the equity method (net of tax)
(60.7) 334.8 36.5 (ii) Income taxes relating to items that will not be reclassified to profit or loss 271.0 (30.3) 144.3

b. (i) Items that will be reclassified to profit or loss

28.5 (19.4) (3.9) - Changes in fair value of cash flow hedges 12.4 (9.5) (0.5)
(7.1) 4.8 0.9 (ii) Income taxes relating to items that will be reclassified to profit or loss (3.1) 2.1 0.1
201.5 (1,009.9) (111.2) Total Other Comprehensive Income (a+b) (796.7) 82.6 (429A)
8,936.1 5,870.2 9,230.5 K Total Comprehensive Income (I+J) 31,279.2 32,044.7 38,899.0
964.2 964.2 964.2 L Paid-up equity share capital (Face value - U Per share) • 964.2 964.2 964.2
39,137.9 43,940.7 32,444.7 M Other equity 39,137.9 32,444.7 32,444.7
N Earnings Per Snare (EPSJ (not annualized fOr quarters}
9.06 7.14 9.69 Basic / Diluted EPS ('1 33.27 33.15 40.79
Additional ioformatjon·
12 540.3 9 690.5 12 440.1 Profit from ocerations re - Afiil + BM + B(viiDl 43 104.1 43 337.7 53 417.9
* Effective from s"' January 2024, 1 (one) equity share having face value of U0.00 (Rupees Ten only) each, was sub-dMded into 10 (ten) equity shares having face value of U.00 (Rupee One only) each.
# Refer note 7
 Consolidated Balance Sheet as at 31 st March 2025
c, in million)
As at 31.03.2025 As at 31.03.2024
Particulars
{Audited) {Audited)
A ASSETS
1 NON-CURRENT ASSETS
a) Property, plant & equipment 49,256.5 30,556.7
b) Capital work in-progress 11 725.6 17,417.1
l(c) Right of use assets 5,479.6 4,045.8
d) Investment in associates 5,750.3 -
( e) Financial assets
(i) Investments - 4,238.9
(ii) Loans 80.9 80.1
(iii) other financial assets 554.0 565.1
(f) Other non-current assets 11,744.7 13,379.7
NON-CURRENT ASSETS 84,591.6 70,283.4
2 CURRENT ASSETS
(a) Inventories 28,501.4 20,893.6
b) Financial assets
(i) Investments - 399.8
(ii) Trade receivables 3,631.5 3,004.6
(iii) Cash and cash equivalents 761.8 7,588.7
(iv) Bank balances other than cash and cash eauivalents 194.7 199.8
(v) Loans 103.1 110.1
(vi) Other financial assets 247.2 462.7
l(c) Other current assets 3,901.9 2,287.9
CURRENT ASSETS 37,341.6 34,947.2
TOTAL-ASSETS 121,933.2 105,230.6

B EQUITY AND LIABILITIES

EQUITY
(a) Eauitv share capital 964.2 964.2
b) other equity 39 137.9 32,444.7
EQUITY 40,102.1 33,408.9
LIABILITIES
1 NON-CURRENT LIABILITIES
(a) Financial liabilities
m Borrowings 224.8 254.8
(ii) Lease liabilities 3,415.3 2,559.2
(b) Provisions 30,901.5 29,172.0
l<c) Deferred tax liabilities (net) 299.6 120.4
(d) Other non-current liabilities 136.4 154.6
NON-CURRENT LIABILITIES 34 977.6 32 261.0
2 CURRENT LIABILITIES
(a) Financial liabilities
(i) Borrowings 7,308.6 56.6
(ii) Lease liabilities 719.8 574.7
(iii) Trade payables
Total outstanding dues of micro enterprises and small enterprises 4,170.9 3,532.6
Total outstanding dues of creditors other than micro enterprises and small enterprises 19,564.4 18,846.3
(iv) Payables for capital expenditure
Total outstanding dues of micro enterprises and small enterprises 430.3 561.4
Total outstanding dues of creditors other than micro enterprises and small enterprises 2,072.5 5,179.8
(v) Other financial liabilities 7,553.0 6,417.2
(b) Other current liabilities 2,158.7 1,393.8
( c) Provisions 2,422.8 2,616.2
l(d) Current tax liabilities (net) 452.5 382.1
CURRENT LIABILITIES 46,853.5 39,560.7
TOTAL- EQUITY AND LIABILITIES 121,933.2 105,230.6
 Consolidated Statement of Cash Flows for Financial Year Ended 31 st March 2025
{' in million)
Financial Year Financial Year
ended {Fifteen
Particulars Months) ended

31.03.2025 31.03.2024
A CASH FLOWS FROM OPERATING ACTIVITIES
PROFIT BEFORE TAX 43,161.2 52,888.7
Adjustments for:
Depreciation and amortisation 5,399.2 5,677.5
Loss/ (profit) on property, plant and equipment sold/scrapped/written off (net) (23.8) (66.6)
Interest income (588.6) (1,479.6)
Interest on bank overdrafts and others 80.3 16.1
Gain on disposal of businesses (1,834.2) -
Interest on lease liabilities 270.2 243.9
Allowance for impairment on financial assets (32.8) (6.8)
Share of profit /(loss) of an associate accounted for using the equity method 239.5 -
Unrealised exchange differences 48.2 (48.9)
CASH GENERATED FROM OPERATIONS BEFORE WORKING CAPITAL AND OTHER CHANGES 46,719.2 57,224.3
Adjustments for:
Decrease/(increase) in trade receivables (700.0) (1,088.1)
Decrease/(increase) in inventories (7,671.0) (1,605.9)
Decrease/(increase) in other financial assets & other assets (1,992.3) (212.5)
Increase/(decrease) in trade payable 1,341.2 3,098.3
Increase/(decrease) in other financial liabilities & other liabilities 1,944.5 700.1
Increase/(decrease) in provision for contingencies 495.1 (1,015.9)
Increase/(decrease) in provision for employee benefits (529.2) (2,364.8)
CASH GENERATED FROM OPERATIONS 39,607.5 54,735.5
Income taxes paid (net of refunds) (10,244.0) (12,987.6)
NET CASH GENERATED / {USED IN) FROM OPERATING ACTIVITIES 29,363.5 41,747.9

B CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment including capital work in progress (20,086.4) (18,826.7)
Proceeds from sale of property, plant and equipment 42.5 43.7
Proceeds from sale / redemption / maturity of tax-free bonds 4,238.9 2,837.9
Investment in equity shares of associate (7,056.0) -
Proceed from sale of businesses net of tax 2,664.7 -
Amount received from insurance pension plan - separations 1,325.8 1,898.1
Decrease/(increase) in loans to employees 6.2 2.4
Interest received on bank deposits, investments, tax free bonds etc. 755.3 1,670.4
NET CASH GENERATED / {USED IN) INVESTING ACTIVITIES {18,109.0) {12,374.2)

C CASH FLOWS FROM FINANONG ACTIVITIES

Payment of deferred vat liabilities under state government schemes (53.2) (45.9)
Receipt of deferred VAT liabilities under state government schemes - 38.0
Proceeds from short term borrowing and overdraft from banks 7,257.0 -
Interest on bank overdraft and others (67.0) (16.1)
Interest on lease liabilities (270.2) (243.9)
Principal payment of lease liabilities (761.8) (999.5)
Dividends paid (24,586.0) (30,081.8)
NET CASH GENERATED/ (USED IN) FINANCING ACTIVITIES {18,481.2) {31,349.2)

NET INCREASE / {DECREASE) IN CASH AND CASH EQUIVALENTS {A+B+C) {7,226.7) {1,975.5)
Cash and cash equivalents 7,588.7 9,265.5
Current investments 399.8 698.5
TOTAL CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD {AS PER IND AS 7) 7,988.5 9,964.0
Cash and cash equivalents 761.8 7,588.7
Current investments - 399.8
TOTAL CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD {AS PER IND AS 7) 761.8 7,988.5

NET INCREASE/ {DECREASE) IN CASH AND CASH EQUIVALENTS {7,226.7) {1,975.5)

Notes:

1. Financial results have been presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015, Ind-AS and Schedule III (Division II) to the Companies Act, 2013.

2. The Company has made an investment for 49% stake in Dr. Reddy's and Nestle Health Science Limited for development of nutraceutical
business (refer note 6 below). Pursuant to this, the investee entity has become an associate of the Company with effect from 24th July
2024. In compliance with section 129(3) of Companies Act, 2013 the financial results of the Company have been presented on standalone
as well as consolidated basis. The figures presented in all the comparative periods in the consolidated financial results are same as
presented in the standalone financial results.

3. For better understanding of the financial performance, the Company has chosen to present profit from operations as an additional
information. Profit from operations is derived from profit before exceptional items & tax less other income and adding back finance costs
(including interest cost on employee benefits plans) and corporate social responsibility expense.

4. The Board of Directors have recommended a final dividend for the financial year ended 31 st March 2025 of " 10.00 per equity share (face
value of" 1/- each) amounting to "9,641.6 million. Besides the aforementioned final dividend, the total dividend for the financial year
ended 31 st March 2025 includes first interim dividend of "2.75/- per equity share (face value of" 1/- each), second interim dividend of
U4.25 per equity share (face value of U/- each) paid on 06th August 2024 and 27th February 2025 respectively.

5. Based on the guiding principles given in Ind AS 108 Operating Segments, the Company's business activity falls within a single operating
segment, namely Food. Accordingly, no separate segment information has been provided.

6. Exceptional items in the nine months ended 31st December 2024 comprise of gain on slump sale of the businesses mentioned below:
a) Nutraceutical Business ("NHSc") to Dr. Reddy's and Nestle Health Science Limited.
b) Nestle Business Services ('NBS') Division to Nestle Business Services India Private Limited (Formerly known as Purina PetCare India
Private Limited).

7. Figures of last quarter are the balancing figures between the published audited figures of the financial year and the published unaudited
figures upto the period ended 31st December.

As previous financial year was for a period of fifteen months i.e., 1st January 2023 to 31st March 2024 due to transition to uniform financial
year, the Company has chosen to additionally present the figures for comparative twelve months period ended 31st March 2024. These are
balancing figures between the published audited figures of the financial year ended 31 st March 2024 and the published unaudited figures
for quarter ended 31 st March 2023.

THE ABOVE RESULTS AND THIS RELEASE HAVE BEEN REVIEWED BY THE AUDIT COMMITTEE Of THE BOARD AT THEIR MEETING HELD ON 23 •• APRIL 2025 AND
APPROVED BY THE BOARD OF DIRECTORS AT THEIR MEETING HELD ON 24 th APRIL 2025.

For and on behalf of the Board

Digltally signed by SURESH
SURESH NARAYANAN NARAYANAN
Date: 2025.04.2410:56:19+05'30'
Date: 24th April 2025 Suresh Narayanan
Place: Nanjangud Chairman and Managing Director

Head Office: Nestle House, Jacaranda Marg, M Block, DLF City Phase - II, Guru gram 122 002 (Haryana)
Registered Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001
Corporate Identity Number: L15202DL1959PLC003786
Email ID: jnyestor@jn nestle com, Website: www nestle in
Phone: 011-23418891
S.R. BAruB01 & Co. LLP 67, Institutional Area
Sector 44, Gurugram -122 003
·Chutered Mc;ountonts Haryana, India

Tel: +91124 6816000

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the
Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended

To
The Board of Directors of
Nestle India Limited
Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results ofNestle
India Limited ("Holding Company") and its Associate for the quarter ended March 31, 2025 and for the year
ended March 31, 2025 ("Statement"), attached herewith, being submitted by the Holding Company pursuant to
the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

i. includes the results of the following entities;

Holding Company
a) Nestle India Limited

Associate
a) Dr. Reddy's and Nestle Health Science Limited

11. are presented in accordance with the requirements of the Listing Regulations in this regard; and
iii . gives a true and fair view in conformity with the applicable accounting standards, and other
accounting principles generally accepted in India, of the consolidated net profit and other
comprehensive loss and other financial information of the Holding Company and its Associate for
the quarter ended March 31, 2025 and for the year ended March 31, 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143(10)
of the Companies Act, 2013, as amended (''the Act"). Our responsibilities under those Standards are further
described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results" section of our
report. We are independent of the Holding Company and its Associate in accordance with the 'Code of Ethics'
issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant
to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We
believe that the audit evidence obtained by us and other auditor in terms of their reports referred to in "Other
Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding
Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a
true and fair view of the net profit and other comprehensive loss and other financial information of the Holding
Company and its Associate in accordance with the applicable accounting standards prescribed under section 133
of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India
and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the Holding
Company and its Associate are responsible for maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding of the assets of their respective companies and for preventing and
detecting frauds and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of
S.R. BATLIBOI & Co. LLP
·Chartered Accountants

adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness
of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair
view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose
of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the Holding Company and its Associate are
responsible for assessing the ability of their respective companies to continue as a going concern, disclosing, as
applicable, matters related to going concern and using the going concern basis of accounting unless management
either intends to liquidate the Holding Company and its Associate or to cease operations, or has no realistic
alternative but to do so.

The respective Board of Directors of the Holding Company and its Associate are also responsible for overseeing
the financial reporting process of their respective companies.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material
misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override ofinternal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances. Under Section 143(3)(i) of the Act,
we are also responsible for expressing our opinion on whether the Holding company has adequate internal
financial controls with reference to financial statements in place and the operating
effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the ability of the Holding Company and its Associate to
continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the
date of our auditor's report. However, future events or conditions may cause the Holding Company and
its Associate to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and
whether the Statement represent the underlying transactions and events in a manner that achieves fair
presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the Holding Company
of which we are the independent auditor to express an opinion on the Statement.

We communicate with those charged with governance of the Holding Company of which we are the independent
auditor regarding, among other matters, the planned scope and timing of the audit and significant audit :findings,
including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.
S.R. BATLIBOI & Co. LLP
·Chartered Accountants

We also performed procedures in accordance with the Master Circular issued by the Securities Exchange Board
of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

The Statement includes the results for the quarter ended March 31 , 2025 being the balancing figures between the
audited figures in respect of the full financial year ended March 31 , 2025 and the published unaudited year-to-
date figures up to the end of the third quarter of the current financial year, which were subjected to a limited
review by us, as required under the Listing Regulations.

For S.R. Batliboi & Co. LLP

Chartered Accountants
ICAI Firm Registration Number: 301003E/E300005
Digitally signed by Pankaj Chadha
Pankaj ON : cn=Pankaj Chadha, c=IN,
o=Personal,
email=pankaj.chadha@srb.in
Chadha Date: 2025.04.24 11 :08:38
+05'30'

per Pankaj Chadha

Partner
Membership No.: 091813
UDlN: 25091813BMORDA6013

Place: Gurugram, Haryana

Date: April 24, 2025
 Nestle India Limited ~ Nestle
(CIN : L15202DL 1959PLC003786) Good Food, Good Life
Nestle House
Jacaranda Marg
'M' Block, DLF City, PHASE- II
GURUGRAM - 122002, HARYANA
Phone 0124 - 3940000
E-mail: corporate@IN.nestle.com
Website: www. nestle.in

April 24, 2025

BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street, Fort,
Mumbai - 400 001

Scrip Code - 500790

Subject Regulation 33 of the SEBI (listing Obligations and Disclosure
Requirements) Regulations, 2015 - Declaration in respect of Audit
Reports with unmodified opinion for the Financial Year ended on 31 st
March 2025 . .

Dear Sir,

Pursuant to SEBI Circular No. CIR/CFD/CMQ/56/2016 dated May 27, 2016; this is hereby
declared that the Auditors of the Company, Mi s. S. R. Batliboi & Co. LLP, Chartered
Accountants, has issued the Audit Reports for Financial Statements as prepared under the
Companies Act, 2013 and Financial Results as prepared under the SEBI (Listing Obligations
and Disclosure Requirements) Regu lations, 2015 for the Financial Year ended on 3pt March
2025 with unmod ified opinion .

na Boldina)
tive Director - Finance & Control and CFO

Regd. Office: 100 I 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001
~/fr~
~1)
Nestle Good food, Good life

Press Release
Nestlé House, 24th April 2025

Advancing amidst volatility

Nestlé India delivers highest ever domestic sales this quarter
The Board of Directors of Nestlé India today approved the financial results (standalone and
consolidated) for the fourth quarter and financial year ended 31st March 2025. Details of the
standalone results are below:
Commenting on the results, Mr. Suresh Narayanan, Chairman and Managing Director of
Nestlé India stated, “I am pleased to report that this quarter we witnessed double-digit growth
in Beverages and Confectionery, with 3 out of 4 product groups delivering healthy growth. Our
domestic sales crossed INR 5,235 crore mark, the highest ever in any quarter supported by
improving volume growth. My heartfelt appreciation to my colleagues in our offices, factories and
salesforce for their resolve and abiding teamwork in navigating external challenges.
During the financial year ended 31st March 2025, Powdered and Liquid Beverages was the
largest growth contributor, with high double-digit growth. NESCAFÉ strengthened its leadership
position by gaining market share and bringing more than 5.1 million households into the coffee
category. NESCAFÉ Ready-to-Drink cold coffee range, one of the fastest growing segments
globally, expanded its new range to India this year. Driven by cold coffee consumption among
Gen Z and Millennials, it is creating entirely new coffee-drinking occasions.
Confectionery grew at a high single-digit pace both in value and volume driven by KITKAT. India
is the second largest market for the brand globally. Prepared Dishes and Cooking Aids posted
mid-single-digit growth with MAGGI returning to volume growth and MAGGI Masala-Ae-Magic
consistently demonstrating good growth. India continued to be the largest market worldwide for
MAGGI.
Milk Products and Nutrition was backed by launches. By reinforcing our commitment to offer
nutritious choices to consumers through meaningful innovations, we achieved our ambition of
introducing new CERELAC variants with no refined sugar. CEREGROW variant with no refined
sugar too was launched this financial year and the early response is encouraging.

The Petcare business reported high double-digit growth – the highest ever, since its integration
into the Nestlé India business. PURINA FELIX and FRISKIES cat food brands achieved high
growth. PURINA PRO PLAN dog food continued to be well-received by pet owners.

Out-of-Home (OOH) business delivered strong double-digit growth and is emerging as one of
our fastest growing businesses. I am delighted to announce the OOH business has forayed into
the ‘cocoa-based spreads category’ with the launch of KITKAT® Professional Spread that can be
used by chefs to incorporate KITKAT’s signature taste and texture in hot and cold dessert.

I am happy to share that the opening of NESPRESSO’s first boutique in India in New Delhi last
month, has resonated exceptionally well with coffee connoisseurs.

1/3
Penetration, premiumization and innovation combined with disciplined resource allocation have
been key in driving growth. Since 2015 we have recalibrated and re-energised our product
portfolio, by launching over 150+ new products contributing 7% of sales.
To serve our consumers we have an omni-channel approach, and this implies that our brands
are available at locations and channels that are most convenient for consumers. One such
channel is e-commerce, which continued in its growth trajectory, propelled by the rapid
expansion of Quick Commerce, contributing to 8.5% of domestic sales, in this financial year
ended 31st March 2025.
I am pleased to share that we remain committed in our RUrban journey. We have strengthened
our route to market through a comprehensive RUrban strategy focused on five key pillars:
Infrastructure, Product Portfolio, Visibility, Consumer Connect, and Technology. Our RUrban
distribution touchpoints have increased to 27,730. We are present in approximately 208,500
villages. RUrban smart stores and HAAT activities in village markets have been enhanced and
use and interventions with technology accelerated.
We are investing approximately INR 6,500 crore between 2020 and 2025 to develop new
capabilities and capacity. This not only demonstrates the strong demand for our products but
also our commitment to manufacture in India and 'Make in India'., The Odisha factory, our
10th citadel of growth, is being set up with an initial investment of approximately INR 900 crore,
in its first phase, to manufacture products from our foods (Prepared Dishes and Cooking Aids)
portfolio.
The spectre of climate change is rapidly intensifying, demanding swift action. We have increased
our reliance on renewable energy, implemented sustainable logistics practices, minimized waste.
We continue to promote circular economy and have transitioned to sustainable packaging. Our
supply chain resilience is being strengthened. Through regenerative agricultural practices
greenhouse gas emissions are being reduced. We work closely with farmers and suppliers to
source raw materials responsibly. One noteworthy endeavor in environmental sustainability is
our proprietary technology called ‘Zer'Eau’ in Moga and Samalkha factories. Here water
extracted from milk is recycled to reduce groundwater consumption every year by around 20%.
In line with our commitment to society, we have positively impacted the lives of over 16 million
beneficiaries through initiatives that align with the UN's Sustainable Development Goals. These
include rural development, education, nutrition awareness, environmental initiatives, livelihood
enhancement, feeding support programs, and water and sanitation improvements.
Commitment and collaboration are key pillars of our business. I would like to express my
gratitude to our partners, suppliers, retailers and distributors for their trust and faith.
Financial Highlights : financial year ended 31st March 2025
Standalone
• Total Sales of INR 20,077.5 crore
• Profit from Operations at 21.5% of Sales
• Net Profit of INR 3,314.5 crore
• Robust Cash Generated from Operations at INR 2,936.3 crore
• Earnings Per Share of INR 34.38
• Final Dividend recommended INR 10.00 per equity share
• Contribution to the exchequer of INR 5,504.7 crore

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Business Comments - Financial year ended 31st March 2025:
• E-commerce: Strengthened availability, enhanced e-commerce forward packs and
targeted media interventions for consumers.
• Organized Trade: Delivered strong broad-based growth across categories driven by
store expansion, enabled by strong in-store activations.
• Out of Home (OOH): Continued to accelerate led by driving penetration across focus
channels, portfolio premiumization and relevant product and machine innovations across
foods and beverages portfolio.
• Export: Expanded footprint to Maldives and Papua New Guinea, offering diverse range
of confectionery SKUs. MAGGI noodles introduced in new markets in the Middle East
and South Africa, while it saw a decline in North America. Exported NESCAFÉ Sunrise
to the United States. Commodity headwinds in green coffee impacted growth in coffee
exports.
Product Groups Performance (Domestic) – Financial year ended 31st March 2025:
• Prepared Dishes and Cooking Aids: Continued to focus on innovations by expanding
the spicy range and building the nutrilicious range with extension into Besan noodles.
• Milk Products and Nutrition: MILKMAID delivered strong growth. Nestlé a+ expanded
its yoghurt range with the launch of an unsweetened low fat Greek yoghurt.
• Confectionery: Witnessed strong distribution gains. Consumer relevant brand
activations led to penetration gains. Launched KITKAT Raspberry, MUNCH Maxx Nuts,
KITKAT Salted Caramel.
• Powdered and Liquid Beverages: NESCAFÉ Classic, NESCAFÉ Sunrise, and
NESCAFÉ GOLD, reported double-digit growth. NESCAFÉ SUNRISE delivered
significant market share gains. launched NESCAFÉ ICE ROAST in the cold category.
Introduced NESCAFÉ ROASTERY in the premium coffee category and Nescafé Ready-
to-Drink cold coffee range delivered strong growth.

Key Highlights for the fourth quarter ended 31 March 2025:

Total sales and domestic sales for the quarter increased by 3.7% and 4.2%, respectively.
domestic sales growth was broad based. Domestic sales crossed INR 5,235 crore, the highest
ever, surpassing that of January – March 2024 quarter.
Commodity Outlook:
Commodity prices continue to be firm for coffee. Cocoa prices have corrected but continue to be
high. Prices continue to remain stable for edible oils. Milk prices have cyclically firmed up with
the onset of summers.
Cautionary Statement:
Statements in this Press Release, particularly those which relate to outlook, describing the
company’s projections, estimates and expectations may constitute ‘forward looking statements’
within the meaning of applicable laws and regulations. Actual results might differ materially from
those either expressed or implied in the statement depending on the circumstances.
For more information
Ambereen Ali Shah, ambereen.shah@in.nestle.com, +91 9717022731
Amit Kumar Roy, amitkumar.roy@in.nestle.com, +91 8447737626
Nestlé India Limited, Head Office: Nestlé House, Jacaranda Marg, M Block, DLF City Phase – II, Gurugram 122 002 (Haryana)
Registered Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi – 110001,
Corporate Identity Number: L15202DL1959PLC003786
Email ID: ambereen.shah@in.Nestlé.com / amitkumar.roy@in.Nestlé.com (with a CC to media.india@in.Nestlé.com); investor@in.Nestlé.com,
Website: www.Nestlé.in

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Nestle India Limited
(CIN : L15202DL1959PLC003786) ~Nestle®
Nestle House
Jacaranda Marg Good Food, Good Life
'M'Block, DLF City, Phase - II
Gurugram -122002, Haryana
Phone: 0124 - 3940000
E-mail: investor@in.nestle.com
Website: www.nestle.in

Annexure-I
Details as required in accordance with the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated
11 th November 2024.
S. No. Details of events that need to be Information of such event(s)
provided
1. Reason for change viz. appointment, The members of the Company at the 61 st Annual General Meeting
re-appointment, resignation, removal, ("AGM") held on 19th June 2020, approved the appointment of
death or otherwise Mr. Prathivadibhayankara Rajagopalan Ramesh (DIN: 01915274)
["Mr. PR Ramesh"] as an Independent Non-Executive Director for a
period offive consecutive years from 1st July 2020 till 30 th June 2025.
Based on the recommendation of the Nomination and Remuneration
Committee, the Board of Directors considered and recommended the
re-appointment of Mr. PR Ramesh, as an lndepdendent Non-
Executive Director of the Company, not liable to retire by rotation, for
another term of five consecutive years with effect from
1st July 2025 till 30 th June 2030, to the members by way of a special
resolution at the ensuing 66th AGM of the Company.
2. Date of appointment/ reappointment/ Refer response to point (1) above.
cessation (as applicable) & term of
appointment/ re-appointment
3. Brief Profile (in case of appointment) Mr. PR Ramesh, aged around 70 years, graduated in Commerce from
Osmania University, Hyderabad and is a Fellow Member of the
Institute of Chartered Accountants of India ('ICAI') has expertise in the
field of audit and accounts, risk management, governance, strategic
matters etc.
A detailed profile of Mr. PR Ramesh is available on Company's
website at https://www.nestle.in/about-us/our-leadership-team.
4. Disclosure of relationships between Mr. PR Ramesh has no relationship with any other Director on the
directors (in case of appointment of a Board of the Company.
director)
5. Other disclosure(s) Mr. PR Ramesh is not debarred from holding the office of Director by
virtue of any order of the Securities and Exchange Board of India or
any other authority.

===

Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001
Nestle India Limited
(CIN : L15202DL1959PLC003786) ~Nestle®
Nestle House
Jacaranda Marg Good Food, Good Life
'M'Block, DLF City, Phase - II
Gurugram -122002, Haryana
Phone: 0124 - 3940000
E-mail: investor@in.nestle.com
Website: www.nestle.in

Annexure - II
Details as required in accordance with the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated
11 th November 2024.
S. No. Details of events that need to be Information of such event(s)
provided
1. Reason for change viz. appointment, On the recommendation of the Nomination and Remuneration
re-appointment, resignation, removal, Committee, recommended the appointment of Mr. Manish Tiwary
death or otherwise (DIN: 02572830) as Managing Director of the Company for a period
five consecutive years with effect from 1st August 2025, to the
members at the ensuing 66th AGM. During the transition period as
Managing Director (Designate), the Board of Directors also appointed
Mr. Manish Tiwary as Key Managerial Personnel of the Company with
effect from 24th April 2025.
2. Date of appointment/ reappointment/ Refer response to point (1) above.
cessation (as applicable) & term of
appointment/ re-appointment
3. Brief Profile (in case of appointment) Mr. Manish Tiwary aged 55 years, is a distinguished business
executive with nearly three decades of experience in leading
largescale operations and strategic initiatives within the e-commerce
and consumer goods sector.
Mr. Tiwary is currently Managing Director (Designate) of the Company.
Before joining Nestlé India, Mr. Tiwary was the Special Project
Manager for Zone AOA, Nestlé, Switzerland.
Prior to joining Nestlé Global, Mr. Tiwary was the Country Manager of
Amazon India for over eight years after spending twenty years at
Unilever, where he held roles in sales, marketing, and general
management across various categories & channels in India, Gulf &
North Africa. Mr. Tiwary holds a B. Tech degree in Computer Science
and an MBA from Indian Institute of Management, Bangalore.
4. Disclosure of relationships between Mr. Manish Tiwary has no relationship with any other Director on the
directors (in case of appointment of a Board of the Company.
director)
5. Other disclosure(s) Mr. Manish Tiwary is not debarred from holding the office of Director
by virtue of any order of the Securities and Exchange Board of India
or any other authority.

===

Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001
Nestle India Limited
(CIN : L15202DL1959PLC003786) ~Nestle®
Nestle House
Jacaranda Marg Good Food, Good Life
'M'Block, DLF City, Phase - II
Gurugram -122002, Haryana
Phone: 0124 - 3940000
E-mail: investor@in.nestle.com
Website: www.nestle.in

Annexure - Ill
Details as required in accordance with the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11 th November
2024.
S. No. Details of events that need to be Information of such event(s)
provided
1. Reason for change viz. appointment, Appointment of M/s. S.N. Ananthasubramanian & Co., Peer Reviewed
re-appointment, resignation, removal, Firm of Company Secretaries in Practicing (Firm Registration Number:
death or otherwise P1991 MH040400), as Secretarial Auditor of the Company for a period
of five consecutive years commencing from financial year 2025-26 till
financial year 2029-30, subject to approval of members at the ensuing
66 th AGM, in compliance with the amended Regulation 24A of the
Listing Regulations.
2. Date of appointment/ reappointment/ Refer response to point (1) above.
cessation (as applicable) & term of
appointment/ re-appointment
3. Brief Profile (in case of appointment) M/s. S. N. Ananthasubramanian & Co ("SNACO") is a reputed
Practicing Company Secretary firm established in 1991 by Mr. S. N.
Ananthasubramanian, a fellow member and past president of the
Institute of Company Secretaries of India ("ICSI"), has a team of
experienced and qualified company secretaries led by five partners.
Over the years, SNACO has built a diverse client base, serving local,
national and international corporates. Its clientele spans companies in
the public sector, FMCG sector, insurance firms, market infrastructure
institutions, emerging businesses, leading corporates, and not-for-
profit organizations. SNACO offers a wide range of services, including
secretarial audits, corporate governance consulting, certifications, and
regulatory advisory.
4. Disclosure of relationships between Not applicable.
directors (in case of appointment of a
director)

===

Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 110 001
Nestle India Limited
(CIN : L15202DL1959PLC003786) ~Nestle®
Nestle House
Jacaranda Marg Good Food, Good Life
'M'Block, DLF City, Phase - II
Gurugram -122002, Haryana
Phone: 0124 - 3940000
E-mail: investor@in.nestle.com
Website: www.nestle.in
PKR:SG:JK: 6:2025-26 24th April 2025
1. BSE Limited 2. National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1,
Dalal Street, G Block, Bandra-Kurla Complex,
Mumbai - 400 001 Bandra (East), Mumbai - 400 051
(BSE Scrip Code: 500790) (NSE Symbol: NESTLEIND)
3. National Securities Depository Limited 4. Central Depository Services (India) Limited
3rd Floor, Naman Chamber, Plot C-32 Marathon Futurex, A-Wing, 25th Floor
G-Block, Bandra Kurla Complex NM Joshi Marg, Lower Parel
Bandra East, Mumbai - 400 051 Mumbai - 400 013
5. Alankit Assignments Limited
4E/2 Jhandewalan Extension
New Delhi - 110 055
Subject: Record Date for determining entitlement of the members to the final dividend for the financial year
2024-25, if any, subject to approval of members
Dear Madam/ Sir,
Furnished below is the Record Date as per the prescribed format, for determining entitlement of the members to the final
dividend for the financial year 2024-25, if any, as recommended by the Board of Directors at its meeting held on
24th April 2025, subject to the approval of the members of the Company at the ensuing 66th Annual General Meeting:
Name of the Company: Nestlé India Limited
ISIN: INE239A01024
Security Code Type of security and Record Date Purpose
paid up value
BSE: 500790 Equity Shares 4th July 2025 Record Date for determining entitlement of the
members to the final dividend for the financial
NSE: NESTLEIND Rs. 964,157,160/- year 2024-25, if any, subject to approval of
(Re. 1/- per equity share) members at the ensuing 66th Annual General
Meeting.
This is for your information and record.
Thanking you,
Yours truly,
NESTLÉ INDIA LIMITED
PRAMOD Digitally signed by
PRAMOD KUMAR RAI
KUMAR RAI Date: 2025.04.24
11:35:24 +05'30'
PRAMOD KUMAR RAI
COMPANY SECRETARY AND COMPLIANCE OFFICER

Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi - 11 O 001