Nestle India is in the process of destroying stocks of Maggi noodles withdrawn from the Indian market, including those with its trade partners as well as in its factories and distribution centres, valued totally at Rs 320 crore.
In a filing to the BSE today, Nestle has said, “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 Rs 210 crore.
In addition, there were Maggi noodles and related material in our factory and distribution centres when the withdrawal was announced and the estimated value of these is around Rs 110 crore.,” the company has said, adding that these are broad estimates as it is impossible to calculate the final figure while the withdrawal is taking place.
There will be additional costs incurred to bring the stock from the market and transport it to the destruction points, and for the actual destruction, Nestle said.