The project will be completed by the end of the current financial year and involves an investment of approximately Rs 225 crore
Consumer goods major Nestle India has notified the addition of a new production line for its chocolate brand Munch in Gujarat at Sanand facility. The proposed capacity addition is around 8,300 tonne per annum, as per the company.
In an exchange filing, the company said that the project will be completed by the end of the current financial year and involves an investment of approximately Rs 225 crore. The investment is being funded through internal accruals.
Nestle India pointed out that this is part of the company’s planned capital expenditure in greenfield and brownfield projects, to increase overall capacities to meet the future demand. Marking a significant improvement in its performance, Nestle India has posted consolidated profit of Rs 998 crore in the third quarter of the current financial year as compared to Rs 688 crore in the same period a year ago.
The financial results of the company revealed that the total income rose to Rs 5,678 crore in the recently concluded quarter as compared to Rs 4,784 crore in Q3FY25. The consolidated profit for the nine months of the current financial year stood at Rs 2,388 crore, a marginal uptick from Rs 2,334 crore during the same period a year ago.
Confectionery was the fastest-growing product group, experiencing double-digit growth fuelled by strong underlying volume increases. This growth was supported by significant advertising spends, expansion of store presence and increased in-home penetration driven by quick commerce.
