New Delhi: Having "weathered" the Maggi storm, Nestle India is embarking on a product offensive, launching up to 25 products across various categories to fend off "disruptive competition" from new rivals like Patanjali.
The company, which now claims a 55.5 per cent share in the instant noodles market, however, says financially it could take a few more quarters to fully overcome the Rs 500-crore hit it took because of the ban on Maggi noodles last year.
"We have weathered the storm, although we still have two cases pending in the court. Now it is the time to ride the wave," Nestle India chairman and managing director Suresh Narayanan told PTI.
Mr Narayanan declined to share an exact timeline when Nestle India will fully overcome the financial hit due to the Maggi ban.
"That impact of Rs 500 crore was quite significant in our books. As our sales evolve, and growth starts to come back it is fair to say that we will recoup that ground...We are improving sequentially quarter to quarter," he said.