Guidance ledger · Q3 FY25

Nestle India Ltd NESTLEIND

4 revisions on record · 1 lowered · 3 raised — the strikethrough is what management used to say

refuses forward guidance · held across quarters

Holding view → · latest concall · The pulse

↑ raised RURBAN village coverage Q3 FY23 → Q3 FY25

~~91,000 villages (covered) / 120,000 (ambition)~~ → more than 200,000 villages covered

“Today, we are covering more than 200,000 villages”

↓ lowered Volume / pricing mix in headline growth Q2 FY24 → Q3 FY25

~~9% volume + 2% pricing (historical 11.2% CAGR baseline)~~ → 2% volume + bulk-of-growth from pricing

“about 9% has been volume, so 2% has been pricing. Now it is the other way around”

↑ raised Innovation share of sales Q3 FY23 → Q3 FY25

~~5.4% (2022) / 5.6% (Q1FY23 H1)~~ → 6.5% with stated ambition of 10%

“I would like to see this ambition go to at least to 10%”

↑ raised Capex envelope (3-year forward) Q3 FY23 → Q2 FY24

~~INR 2,600 cr announced (2020-2023 cycle)~~ → INR 5,000 cr committed for 2023-2025 cycle

“2023 to 2025, they have committed INR5,000 crores”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.