15 June 2015
As already announced we are in the process of withdrawing MAGGI Noodles stock from the market and destroying it. The estimated “Sales Value” of the stock in the market, including those with our trade partners, is around INR 210 Crores (2.1 billion). In addition, there were MAGGI Noodles and related materials in our factories and distribution centres when the withdrawal was announced and the estimated value of these is around INR 110 Crores (1.1 billion). These are broad estimates because it is impossible to calculate the final figure while the withdrawal is taking place. There will be additional costs to take into account, for example bringing stock from the market, transporting the stock to the destruction points, destruction cost etc. The final figure will have to be confirmed at a later date.
The above, and other unforeseen costs associated with this withdrawal, will be dealt with in line with the applicable accounting standards at the time of announcing the financial results on the due dates.
Nestlé India Media Team
Email: [email protected]