As Nestlé India Chairman and Managing Director Suresh Narayanan prepares to step down after nearly a decade at the helm, he reflected on his eventful tenure, calling the 2015 Maggi noodles crisis one of the most defining challenges of his career. In his final letter to shareholders, Narayanan described India as a market of “inflationary pressures and unexpected opportunities,” underlining both the volatility and potential that shaped his journey.
Narayanan, who will retire from the role on July 31 and be succeeded by former Amazon India executive Manish Tiwary, took charge during one of Nestlé India’s darkest hours. Just days into his tenure, the company faced a nationwide ban on its flagship Maggi instant noodles over allegations of excess lead content. The crisis not only dented brand credibility but also shook the entire instant noodles category.
“It was among the greatest challenges of my professional life,” Narayanan noted in Nestlé India’s 2024-25 annual report. Despite the setback, he oversaw a turnaround that eventually saw India emerge as the largest market for the Maggi brand globally.
Over the past decade, Nestlé India has posted consistent growth, with revenues growing at a compound annual growth rate (CAGR) of 10.3% and operating profit increasing by 13.5%. Narayanan emphasized that the company invested approximately ₹6,500 crore between 2020 and 2025 in capacity expansion and capability building, increasing capital expenditure from 1.8% of sales in 2015 to 10% in FY 2024-25.
For the March-April 2025 quarter, Nestlé India reported a 5.2% year-on-year decline in standalone net profit to ₹885 crore, impacted by rising commodity costs. However, domestic sales reached a quarterly high of ₹5,235 crore, up 4.2% from the previous year, with overall revenue from operations rising 4.5% to ₹5,504 crore.
The company also added 1.3 million new retail outlets last year, expanding its reach to over 209,000 villages. Key brands like Nescafé brought more than 43 million households into the coffee segment, while the confectionery business tripled in size, and the Maggi franchise doubled in the prepared dishes and cooking aids segment.
As Narayanan signs off, he leaves behind a company that not only recovered from a crisis but emerged stronger, driven by bold investments and aggressive retail expansion.