People's love for Maggi is also visible in the statistics and India has become the world's largest market for Maggi of Nestle, the company that makes it. Not only this, the company has also earned a lot of money in India from the sale of these 2 minute noodles.
There is no dearth of Maggi lovers in India. Be it children, old or young, village or city or hilly areas, you will find this dish which is ready in 2 minutes everywhere. People's love for Maggi is also visible in the statistics and India has become the world's largest market for Maggi of Nestle, the company that makes it. Not only this, the company has also earned a lot of money in India from the sale of these 2 minute noodles.
In fact, Maggi, the noodles that are ready in two minutes, has made record-breaking sales in India. According to Nestle India, the company has sold only 600 crore units of Maggi in India in the financial year 2023-24. Apart from this, the company's chocolate KitKat has also broken all sales records. The company has sold 420 crore units of KitKat during the last financial year. With this, India has become the second largest market for KitKat.
Maggi and Kitkat earned huge profits
The India unit of Swiss MNC Nestle released these figures in its annual report on Monday. According to this, the most Maggi in the world is being sold in India. Nestle said that India has become the fastest growing market for them. The company is growing in double digits here. The company has achieved this growth through the price and product mix of Maggi noodles and Maggi Masala-e-Magic. KitKat chocolate has also become Nestle's bestseller. At the same time, the company has also earned a lot from this. Due to the strong increase in the sale of the company's products, Nestle India has registered sales of Rs 24,275.5 crore in the last 15 months till March 31, 2024.
Maggi's market share fell after the ban
Maggi, which is making record sales for the company today, got embroiled in a big controversy in the year 2015. Citing health reasons, the Food Safety and Standards Authority of India (FSSAI) imposed a 5-month ban on Maggi noodles in June 2015. This ban was a big blow to Nestle India. At the time of the ban, Maggi's share in the Indian noodles market was about 80 percent. Within a month of the ban, it had come down to zero.
Now, even after almost a decade of the ban, Maggi is struggling to regain its status. With the entry of many companies in this segment, competition has become tough. In the last 8 years, the company has launched about 140 products in India. It is also going to invest Rs 7500 crore in India by 2025.
The stock doubled its money in 5 years
On one hand, while the craze for Nestle's products Maggi and KitKat has increased, the impact of the tremendous sales figures has also been seen on the company's shares. The amount of investors who invested in Nestle Share has doubled in five years. During this period, the company's stock has given a return of 119.81 percent to the investors. During the trading in the stock market on Wednesday, the share of the company with a market capitalization of Rs 2.46 lakh crore is trading at Rs 2551.
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