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Nestle India board approves hike in royalty payment to Swiss parent

Livemint

Livemint · 1y ago

Nestle India board approves hike in royalty payment to Swiss parent

Nestle India's board has given approval for increasing its royalty payout to parent company Nestlé S.A. to 5.25% of net sales over the next five years, up from the current 4.5%. This change will go into effect from 1 July. The decision was made in accordance with shareholder feedback and the company's commitment to review its royalty payments every five years. Nestle India reported total sales of ₹16,790 crore and a net profit of ₹2,390 crore for 2023. Hindustan Unilever Ltd also recently raised its royalty payout to its parent company.

Related News

Royalty dispute: Nestle India highlights significant gains from parent's IPRs

Livemint

Livemint · 1y ago

Royalty dispute: Nestle India highlights significant gains from parent's IPRs

Nestle India has stated that it has greatly benefited from its parent company's intellectual property rights (IPRs), leading to faster innovation and cost savings. The company maintains a licensing agreement with its parent company, granting it exclusive rights to manufacture and sell Nestle products in India and access Nestle's technology, patents, and know-how. These IPRs have resulted in enhanced efficiency, reduced waste, and significant cost savings for Nestle India. However, despite these benefits, the majority of shareholders rejected a proposal to increase the royalty payout to the parent company.

Sensex, Nifty end in green on special trading session; financial, FMCG stocks lead gains

Money Control

Money Control · 1y ago

Sensex, Nifty end in green on special trading session; financial, FMCG stocks lead gains

Indian benchmark indices, Sensex and Nifty, saw marginal gains in the second leg of the special trading session on May 18. Financial services and FMCG stocks led the gains, with all major sectoral indices closing in the green. Nestle India's shares were up after shareholders voted against increasing royalty payout to its parent company. The market's mixed performance is limiting momentum in the index, but the broader market's strength and select heavyweights are providing opportunities, according to experts. The India VIX was up 3.4 percent at 20.5. Technical indicators and foreign investors' buying suggest further support for the indices.

Nestle nominates former Amazon exec Manish Tiwary as India MD

VCCircle

VCCircle · 10m ago

Nestle nominates former Amazon exec Manish Tiwary as India MD

- Nestle has nominated former Amazon India executive Manish Tiwary as the new managing director of its Indian unit. - The proposal is subject to board approval and, if approved, Tiwary will take over the position on August 1, 2025, after the retirement of current MD Suresh Narayanan. - Manish Tiwary recently resigned from his role at Amazon, where he headed the company's India operations. - Prior to his time at Amazon, Tiwary held various positions at Unilever's Indian and Gulf units. - Suresh Narayanan has been with Nestle for over 26 years and was appointed as the chairman of Nestle India in 2015. Before that, he held leadership roles in Nestle operations in the Phillipines, Egypt, and Singapore.

Apple’s licence-fee income from India doubles to $532 mn

The Arc Web

The Arc Web · 8m ago

Apple’s licence-fee income from India doubles to $532 mn

Apple India paid Rs 4,490 crore ($532 million) as licence fees or royalty payments to its global subsidiaries in the fiscal year 2024. This represents a 2X increase from the previous year. Similarly, Samsung India paid Rs 3,322 crore ($394 million) to its parent company, a 50% increase from the previous year. The licence fee payment for Apple India accounted for about 6.8% of its operating revenues, while for Samsung India, it was about 3.4% of total revenues. Apple India generated most of its revenue from the sale of its products, amounting to Rs 63,297 crore. The unit reported a net profit of Rs 2,746 crore, a 23% increase.

MC Graphixstory | FIIs cut stake in frontline FMCG stocks on weak sales growth in Q3

Money Control

Money Control · 1y ago

MC Graphixstory | FIIs cut stake in frontline FMCG stocks on weak sales growth in Q3

Foreign investors have reduced their stake in leading fast-moving consumer goods (FMCG) companies in India due to weak volume sales growth in the third quarter of 2024. Hindustan Unilever, ITC, Nestle India, Britannia Industries, and Dabur India all saw decreases in foreign institutional investor (FII) holdings. The decline in FMCG stocks has been attributed to sluggish rural demand and challenges such as erratic rains and low savings induced by the pandemic. However, mid-sized FMCG firms experienced increased FII investments. Analysts expect a rebound in the sector driven by economic stimuli and a hike in minimum support prices.

Paytm parent One97 Communication approves grant of 91,250 stock options

Economic Times

Economic Times · 1y ago

Paytm parent One97 Communication approves grant of 91,250 stock options

Paytm's parent company, One97 Communications, has approved the granting of 91,250 stock options under its ESOP 2019 program. Additionally, the company's board has approved the allocation of 2,91,388 equity shares to eligible employees under both ESOP 2008 and ESOP 2019. The exercise price per stock option is set at Rs 9. As a result of these actions, the company's equity shares capital has increased to over Rs 63.57 crore.

NCLT approves Shailendra Ajmera as new resolution professional of Byju’s parent firm

Economic Times

Economic Times · 5m ago

NCLT approves Shailendra Ajmera as new resolution professional of Byju’s parent firm

The National Company Law Tribunal (NCLT) approved the appointment of Shailendra Ajmera as the new resolution professional for Think & Learn, the parent company of Byju's. This decision follows the company's creditors' committee resolution to replace Pankaj Srivastava amid allegations of lapses in his conduct. Additionally, the NCLT reinstated Glas Trust and Aditya Birla Finance to the creditors’ committee and will address the Board of Control for Cricket in India’s withdrawal application from insolvency proceedings.

MobiKwik board approves Rs 880 Crore fresh equity shares issuance for public listing

OutlookIndia

OutlookIndia · 1y ago

MobiKwik board approves Rs 880 Crore fresh equity shares issuance for public listing

Gurugram-based fintech company MobiKwik's board has approved a special resolution for issuing Rs 880 crore worth of fresh equity shares through public listing, as per the regulatory filing. This marks the company's second attempt to go public, with a planned share sale in 2024. MobiKwik's revenue remained steady at Rs 539.46 crore in FY2023, with a decrease in losses. It faces competition from payment apps like Google Pay, PhonePe, and Paytm in India's growing digital payments market.

Flipkart board approves domicile shift from Singapore to India

Entrackr

Entrackr · 3m ago

Flipkart board approves domicile shift from Singapore to India

Flipkart board approves domicile shift from Singapore to India Walmart-owned e-commerce major Flipkart will join dozens of other companies that have either completed or are in the process of moving their base to India. E-commerce marketplace Flipkart has reportedly received approval from its board to shift the company's domicile from Singapore to India. The Walmart-owned firm will join dozens of other companies that have either completed or are in the process of moving their base to India. According to an ET report, Flipkart’s board approved the plan to shift its domicile back to India during a meeting held last week in Singapore. While Flipkart did not comment on approval from the board, it has shared its intention to relocate its holding company from Singapore to India. “This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth. We are inspired by the Government of India’s strong vision and proactive initiatives in fostering a thriving business environment and ease of doing business, which have significantly shaped our journey. This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India,” said a Flipkart spokesperson. “As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation’s growing digital economy and entrepreneurship,” the spokesperson added. Meanwhile, the board of Flipkart Internet (India) has approved a resolution to capitalise its securities premium of up to Rs 26,552 crore for the issuance of bonus shares to Flipkart (Singapore), Flipkart (Marketplace), and Quickroutes International, according to a regulatory filing accessed from the Registrar of Companies (RoC). Flipkart has been working on shifting its holding company back to India since May 2023. Its IPO is expected by late 2025 or early 2026. The company was last valued at $33 billion after raising $600 million from existing investors in December 2023. Earlier, in July 2021, it raised $3.6 billion led by SoftBank at a $37.6 billion valuation. The valuation was later revised to $33 billion after it separated from PhonePe. So far, PhonePe, Zepto, Dream11, and Groww have completed their reverse flip to India. Meanwhile, several other companies — including Meesho, Razorpay, Pine Labs, Eruditus, Livspace, Mensa, and KreditBee — are awaiting final approvals to shift their base.

Rising royalty payments to parent firms evoke calls for frequent shareholder approvals

Livemint

Livemint · 8m ago

Rising royalty payments to parent firms evoke calls for frequent shareholder approvals

Rising royalty payments to parent firms evoke calls for frequent shareholder approvals. Stay up-to-date with the latest updates on companies' financial performance, strategic acquisitions, and market shifts. Get detailed insights on mergers, acquisitions, financial results, and leadership changes shaping the business landscape across industries.

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