Quick Note - Nestle India (NEST IN) (Buy) - Nestle rejects allegations against Maggi

Research evidence excerpt

Quick Note - Nestle India (NEST IN) (Buy) - Nestle rejects allegations against Maggi

Global Markets Research

Nestle India NEST.NS NEST IN 12 June 2026

EQUITY: FOOD & BEVERAGE

RatingNestle rejects allegations against Maggi Remains Buy

Target price INR 1,500 RemainsQuick Note

Closing price

12 June 2026 INR 1,376FSSAI issues notice to Nestle India over social media complaint

• Accordingtomediaarticles, Food Safety and Standards Authority of India (FSSAI)

has issued a notice to Nestle over a social media complaint involving the detection of Research Analysts

insect/larvae in a Maggi noodles packet. India Consumer Related ○ As per the media report, FSSAI has taken action and sought detailed reports,

Mihir P. Shah - NFASL including: mihir.shah1@nomura.com

1. Source/vendor details, +91 22 403 74232

2. Internal quality check logs of the batch in question, Riya Patni - NFASL

riya.patni@nomura.com 3. Details of corrective measures taken to remove such products from the supply

+91 22 405 33473

chain, and

4. Along with the steps taken to prevent a recurrence of the incident.

Nestle India has rejected the allegations of presence of infestation in Maggi noodles

• Nestle India in its pressrelease stated the complaint originated from an unverified

social media account on Platform X that has remained unreachable despite

multiple attempts, in order to obtain the complaint sample for assessment.

• Nevertheless, as a part of standard procedure, Nestle India has tested reference

samples from the same batch at an independent FSSAI-notified and NABL-

accredited laboratory, which confirmed that the samples were free of any infestation

and compliant with quality standards.

• The company has submitted a detailed representation to the FSSAI, including