The turnover of FMCG major Nestle India’s has grown 2.5 folds to Rs 20,100 crore in last one decade, post the Maggi crisis in 2015, according to the company’s latest annual report.

Photograph: Danish Siddiqui/Reuters

At the time of crisis, Nestle India’s turnover was at Rs 8,100 crore.

Nestle India’s corresponding profits from operations grew by 13.5 per cent in the same period, and its market capitalisation grew to 3.9 times, said its outgoing chairman and managing director, Suresh Narayanan.

Narayanan, who served the Swiss FMCG giant Nestle group for over 26 years and steered Nestle India from the Maggi crisis dating back to 2015, will hang his boots on July 31, 2025 after leading the company for 10 years.

In June 2015, India food regulator, FSSAI had banned Nestle’s instant noodles Maggi, for allegedly containing lead beyond permissible limits, forcing the company to withdraw the product from the market.

Narayanan joined the board of Directors of Nestlé India as managing director on August 1, 2015, after the crisis.

“We have added 1.3 million more retail outlets since 2016 with the highest gains amongst peers in 2024.

“The RUrban strategy began in 2019, and has increased RUrban distribution touchpoints to 28,240. Today we are present in approximately 209,050 villages,” he said, adding, “Through relentless consumer cluster-based and RUrban strategy, our brands reach 2 out of 3 households.”

Now Nestle India has a reach of 5.2 million outlets and is expanding its business from breakfast cereals to the premium coffee brand Nespresso, to pet foods.

After the Maggi crisis, Nestle India relaunched Maggi in five months in November 2015, after the ban was lifted and, again got its pole position in the fast-growing instant noodles segment, where it still dominates with over 60 per cent market share.

Nestle India which was largely dependent on its Maggi noodles for growth, changed its strategy after the crisis.

“In 2015, many considered us to be solely a MAGGI noodles company.

“Since then we recalibrated and rejuvenated the portfolio launching over 150+ new products that have contributed to 7 per cent of sales,” said Narayanan.

Besides, Nestle also strengthened its instant coffee brand, NESCAFÉ by adding more than 43 million households.

“Once a muted business, cConfectionery has tripled its business in the last 10 years,” said Narayanan adding, “KITKAT doubled its market share and became the fastest growing brand within the chocolate category in India.”

Today, India is the largest market for KITKAT globally, a decade ago it was at number 10.

Its other brands MUNCH and MILKYBAR have also doubled their business, he added.

Moreover, Nestle India is investing in new capabilities and capacities, by increasing product lines in existing factories and setting up the Sanand factory in Gujarat, for Confectionery and Prepared Dishes and Cooking aids.

The company, which operates nine factories, said its tenth factory is on the anvil in Odisha.

“The CAPEX levels have increased from 1.8 per cent of sales in 2015 to 10 per cent of sales in the financial year ending 2024-2025.

“This not only demonstrates the focus on Indian consumers but also our commitment to manufacture in India and ‘Make in India’ as a theme,” said Narayanan in his last address to his shareholders.

Now India is among top ten markets of Swiss FMCG major Nestle SA.

It is now the “largest MAGGI market globally” and the second largest Out-of-Home business for Nestlé in Asia, Oceania and Africa.