Nestle India, the leading nutrition, health and wellness company, has started the process of withdrawing Maggi Noodles stock from the market and destroying it. The estimated value of the stock is around Rs 3.20 bn.

The estimated ''Sales Value'' of the stock in the market, including those with our trade partners is around Rs 2.10 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 Rs 1.10 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.

Shares of the company declined Rs 123.65, or 2.08%, to trade at Rs 5,825.00. The total volume of shares traded was 3,802 at the BSE (10.06 a.m., Tuesday).