Nestle India Ltd.

•

₹ 1,477.11.31%

2026-08-21

nestle.inBSE: 500790NSE: NESTLEIND

Market Cap₹ 2,83,443 Cr.

Current Price₹ 1,458

High / Low₹ 1,553 / 1,145

Stock P/E74.4

Book Value₹ 32

Price to Book43.93

Dividend Yield0.82 %

ROCE98.3 %

ROE76.3 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 123.0%
Company has a good return on equity (ROE) track record: 3 Years ROE 93.8%
Latest quarter profit grew 48.3% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.14x)
Company has been maintaining a healthy dividend payout of 66.1%

CONS

Stock is trading at 43.9x its book value
Valuation is stretched - P/E of 74.4 is well above its own 5-year median (33.8)
Recurring exceptional / one-off items are inflating headline profit
Rich enterprise valuation - EV/EBITDA of 40.8x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Fast Moving Consumer GoodsFMCGConsumer Food

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	NESTLEIND	1469.90	74.37	283442.92	0.82	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	432.75	43.23	146376.17	0.35	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	5410.00	50.04	130309.75	1.67	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	495.90	75.40	32721.72	0.24	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	931.75	59.58	20754.57	1.72	60.58	—	2363.72	17.61	14.60	10.81
6.	DEVYANI	142.85	0.00	17612.54	0.00	17.10	667.68	1580.52	16.47	8.98	16.09
7.	ZYDUSWELL	492.95	83.34	15683.73	0.24	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	MILKYMIST	199.55	120.95	15362.23	0.00	—	—	—	—	13.79	—
9.	BIKAJI	609.25	59.09	15276.12	0.21	59.47	1.62	734.26	15.26	21.65	13.48
10.	LTFOODS	429.90	23.31	14928.40	0.70	1834.46	988.67	31518.31	1179.20	21.42	11.26
11.	MANORAMA	1924.70	49.26	12149.17	0.04	78.66	67.55	404.01	39.53	19.70	26.29
12.	KRBL	399.75	12.07	9149.87	1.13	260.74	73.16	1495.86	-5.59	11.92	20.56

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	5,010	4,584	5,254	4,793	5,075	4,762	5,448	5,074	5,630	5,644	6,724	63,782
	3,843	3,528	3,918	3,700	3,968	3,712	4,116	3,996	4,453	4,493	4,976	50,700
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	33	30	27	39	7	4	9	4	2	12	18	225
Interest	0	0	26	32	0	0	38	47	0	0	37	422
Depreciation	111	109	110	113	122	150	155	157	163	174	205	1,878
	1,222	886	1,251	1,009	1,204	922	1,205	900	1,029	1,168	1,513	13,080
Tax %	25.69%	26.04%	25.30%	26.01%	24.99%	24.55%	26.46%	26.79%	26.77%	12.84%	26.34%	26.70%
Net Profit	0	0	0	0	899	688	873	647	743	998	1,111	9,587
	9	7	10	8	5	4	5	7	4	5	6	5
Equity Capital	96	96	96	96	96	96	96	96	193	193	193	1,928
Reserves	3,666	2,996	3,244	3,992	3,807	4,394	3,914	4,559	4,242	5,217	4,964	59,253
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	96	96	96	96	96	96	96	96	193	193	193	1,928
Reserves	3,666	2,996	3,244	3,992	3,807	4,394	3,914	4,559	4,242	5,217	4,964	59,253
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Sep 2023

: 5,010
: 3,843
Operating Profit: —
OPM %: —
Other Income: 33
Interest: 0
Depreciation: 111
: 1,222
Tax %: 25.69%
Net Profit: 0
: 9
Equity Capital: 96
Reserves: 3,666
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 3,666
Promoter Pledge %: 0.00%

Dec 2023

: 4,584
: 3,528
Operating Profit: —
OPM %: —
Other Income: 30
Interest: 0
Depreciation: 109
: 886
Tax %: 26.04%
Net Profit: 0
: 7
Equity Capital: 96
Reserves: 2,996
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 2,996
Promoter Pledge %: 0.00%

Mar 2024

: 5,254
: 3,918
Operating Profit: —
OPM %: —
Other Income: 27
Interest: 26
Depreciation: 110
: 1,251
Tax %: 25.30%
Net Profit: 0
: 10
Equity Capital: 96
Reserves: 3,244
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 3,244
Promoter Pledge %: 0.00%

Jun 2024

: 4,793
: 3,700
Operating Profit: —
OPM %: —
Other Income: 39
Interest: 32
Depreciation: 113
: 1,009
Tax %: 26.01%
Net Profit: 0
: 8
Equity Capital: 96
Reserves: 3,992
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 3,992
Promoter Pledge %: 0.00%

Sep 2024

: 5,075
: 3,968
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 0
Depreciation: 122
: 1,204
Tax %: 24.99%
Net Profit: 899
: 5
Equity Capital: 96
Reserves: 3,807
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 3,807
Promoter Pledge %: 0.00%

Dec 2024

: 4,762
: 3,712
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 0
Depreciation: 150
: 922
Tax %: 24.55%
Net Profit: 688
: 4
Equity Capital: 96
Reserves: 4,394
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 4,394
Promoter Pledge %: 0.00%

Mar 2025

: 5,448
: 4,116
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 38
Depreciation: 155
: 1,205
Tax %: 26.46%
Net Profit: 873
: 5
Equity Capital: 96
Reserves: 3,914
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 3,914
Promoter Pledge %: 0.00%

Jun 2025

: 5,074
: 3,996
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 47
Depreciation: 157
: 900
Tax %: 26.79%
Net Profit: 647
: 7
Equity Capital: 96
Reserves: 4,559
Promoter Pledge %: 0.00%
Equity Capital: 96
Reserves: 4,559
Promoter Pledge %: 0.00%

Sep 2025

: 5,630
: 4,453
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 0
Depreciation: 163
: 1,029
Tax %: 26.77%
Net Profit: 743
: 4
Equity Capital: 193
Reserves: 4,242
Promoter Pledge %: 0.00%
Equity Capital: 193
Reserves: 4,242
Promoter Pledge %: 0.00%

Dec 2025

: 5,644
: 4,493
Operating Profit: —
OPM %: —
Other Income: 12
Interest: 0
Depreciation: 174
: 1,168
Tax %: 12.84%
Net Profit: 998
: 5
Equity Capital: 193
Reserves: 5,217
Promoter Pledge %: 0.00%
Equity Capital: 193
Reserves: 5,217
Promoter Pledge %: 0.00%

Mar 2026

: 6,724
: 4,976
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 37
Depreciation: 205
: 1,513
Tax %: 26.34%
Net Profit: 1,111
: 6
Equity Capital: 193
Reserves: 4,964
Promoter Pledge %: 0.00%
Equity Capital: 193
Reserves: 4,964
Promoter Pledge %: 0.00%

Jun 2026

: 63,782
: 50,700
Operating Profit: —
OPM %: —
Other Income: 225
Interest: 422
Depreciation: 1,878
: 13,080
Tax %: 26.70%
Net Profit: 9,587
: 5
Equity Capital: 1,928
Reserves: 59,253
Promoter Pledge %: 0.00%
Equity Capital: 1,928
Reserves: 59,253
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025	Mar 2026	TTM
	24,394	20,202	23,155	24,376
	18,551	15,432	17,849	18,993
Operating Profit	5,998	4,833	5,514	—
OPM %	25	24	24	—
Other Income	155	63	208	54
Interest	145	136	326	79
Depreciation	568	540	699	730
	5,289	4,316	4,564	5,017
Tax %	26	26	23	23
Net Profit	3,933	3,208	3,499	3,844
EPS	41	33	18	—
Dividend Payout %	79	81	66	—
Minority Interest	0	0	0	0
Share of Associates	0	0	0	-49
Adjusted EPS	20	17	18	—
Minority Interest	0	0	0	0
Share of Associates	0	0	0	-49
Adjusted EPS	20	17	18	—

Mar 2024

: 24,394
: 18,551
Operating Profit: 5,998
OPM %: 25
Other Income: 155
Interest: 145
Depreciation: 568
: 5,289
Tax %: 26
Net Profit: 3,933
EPS: 41
Dividend Payout %: 79
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 20
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 20

Mar 2025

: 20,202
: 15,432
Operating Profit: 4,833
OPM %: 24
Other Income: 63
Interest: 136
Depreciation: 540
: 4,316
Tax %: 26
Net Profit: 3,208
EPS: 33
Dividend Payout %: 81
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17

Mar 2026

: 23,155
: 17,849
Operating Profit: 5,514
OPM %: 24
Other Income: 208
Interest: 326
Depreciation: 699
: 4,564
Tax %: 23
Net Profit: 3,499
EPS: 18
Dividend Payout %: 66
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 18
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 18

TTM

: 24,376
: 18,993
Operating Profit: —
OPM %: —
Other Income: 54
Interest: 79
Depreciation: 730
: 5,017
Tax %: 23
Net Profit: 3,844
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: -49
Adjusted EPS: —
Minority Interest: 0
Share of Associates: -49
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 16%
5 Years:: 8%
3 Years:: 10%
1 Year:: 22%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 94%
Last Year:: 76%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-
Equity Capital	96	96	193
	3,244	3,914	4,964
	6	731	4
Trade Payables	2,238	2,374	2,967
	4,939	5,079	5,055
Total Liabilities	10,523	12,193	13,182
ASSETS	-	-	-
	3,460	5,474	6,290
Capital Work in Progress	1,742	1,173	507
	464	575	531
	2,089	2,850	2,569
	300	363	329
Cash & Bank	779	96	1,341
	1,689	1,663	1,615
Total Assets	10,523	12,193	13,182
Total Debt	31	753	24
Net Working Capital	-461	-951	-171
Contingent Liabilities	4	4	4
Book Value per Share	34.65	41.59	26.74
Face Value	1.00	1.00	1.00
Total Debt	31	753	24
Net Working Capital	-461	-951	-171
Contingent Liabilities	4	4	4
Book Value per Share	34.65	41.59	26.74
Face Value	1.00	1.00	1.00

Mar 2024

Equity Capital: 96
: 3,244
: 6
Trade Payables: 2,238
: 4,939
Total Liabilities: 10,523
: 3,460
Capital Work in Progress: 1,742
: 464
: 2,089
: 300
Cash & Bank: 779
: 1,689
Total Assets: 10,523
Total Debt: 31
Net Working Capital: -461
Contingent Liabilities: 4
Book Value per Share: 34.65
Face Value: 1.00
Total Debt: 31
Net Working Capital: -461
Contingent Liabilities: 4
Book Value per Share: 34.65
Face Value: 1.00

Mar 2025

Equity Capital: 96
: 3,914
: 731
Trade Payables: 2,374
: 5,079
Total Liabilities: 12,193
: 5,474
Capital Work in Progress: 1,173
: 575
: 2,850
: 363
Cash & Bank: 96
: 1,663
Total Assets: 12,193
Total Debt: 753
Net Working Capital: -951
Contingent Liabilities: 4
Book Value per Share: 41.59
Face Value: 1.00
Total Debt: 753
Net Working Capital: -951
Contingent Liabilities: 4
Book Value per Share: 41.59
Face Value: 1.00

Mar 2026

Equity Capital: 193
: 4,964
: 4
Trade Payables: 2,967
: 5,055
Total Liabilities: 13,182
: 6,290
Capital Work in Progress: 507
: 531
: 2,569
: 329
Cash & Bank: 1,341
: 1,615
Total Assets: 13,182
Total Debt: 24
Net Working Capital: -171
Contingent Liabilities: 4
Book Value per Share: 26.74
Face Value: 1.00
Total Debt: 24
Net Working Capital: -171
Contingent Liabilities: 4
Book Value per Share: 26.74
Face Value: 1.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025	Mar 2026
	4,175	2,935	5,048
Cash from Investing	-1,237	-1,811	-624
Cash from Financing	-3,135	-1,846	-3,179
	-198	-723	1,244
Free Cash Flow	4,175	1,041	4,324
OCF / Net Profit	1.06	0.91	1.44
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	1.06	0.91	1.44
Cumulative 5-Year FCF	0	0	0

Mar 2024

: 4,175
Cash from Investing: -1,237
Cash from Financing: -3,135
: -198
Free Cash Flow: 4,175
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0

Mar 2025

: 2,935
Cash from Investing: -1,811
Cash from Financing: -1,846
: -723
Free Cash Flow: 1,041
OCF / Net Profit: 0.91
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.91
Cumulative 5-Year FCF: 0

Mar 2026

: 5,048
Cash from Investing: -624
Cash from Financing: -3,179
: 1,244
Free Cash Flow: 4,324
OCF / Net Profit: 1.44
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.44
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-
EPS (₹)	40.79	33.27	18.15
Book Value (₹)	34.65	41.59	26.74
Dividend per Share (₹)	32.20	27.00	12.00
Cash EPS (₹)	23.34	19.43	21.77
PROFITABILITY	-	-	-
Operating Margin %	23.21%	22.72%	22.01%
Net Margin %	15.62%	15.28%	14.52%
ROE %	117.72%	87.27%	76.34%
ROCE %	161.16%	109.45%	98.35%
	37.37%	28.24%	27.58%
EFFICIENCY	-	-	-
Debtor Days	4	6	5
Inventory Days	30	43	41
Payable Days	89	112	109
	-55	-63	-63
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	0.01x	0.19x	0.00x
Interest Coverage (x)	37.35x	32.74x	14.99x
	0.88x	0.80x	0.96x
GROWTH	-	-	-
Revenue Growth %	0.00%	-17.19%	14.62%
Operating Profit Growth %	0.00%	-19.43%	14.11%
Net Profit Growth %	0.00%	-18.44%	9.09%
	0.00%	-18.44%	-45.45%
VALUATION	-	-	-
P/E (x)	32.16x	33.83x	64.74x
P/B (x)	75.71x	54.12x	43.93x
Dividend Yield %	1.23%	1.20%	1.02%
	42.05x	45.05x	40.84x

Mar 2024

EPS (₹): 40.79
Book Value (₹): 34.65
Dividend per Share (₹): 32.20
Cash EPS (₹): 23.34
Operating Margin %: 23.21%
Net Margin %: 15.62%
ROE %: 117.72%
ROCE %: 161.16%
: 37.37%
Debtor Days: 4
Inventory Days: 30
Payable Days: 89
: -55
Debt to Equity (x): 0.01x
Interest Coverage (x): 37.35x
: 0.88x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 32.16x
P/B (x): 75.71x
Dividend Yield %: 1.23%
: 42.05x

Mar 2025

EPS (₹): 33.27
Book Value (₹): 41.59
Dividend per Share (₹): 27.00
Cash EPS (₹): 19.43
Operating Margin %: 22.72%
Net Margin %: 15.28%
ROE %: 87.27%
ROCE %: 109.45%
: 28.24%
Debtor Days: 6
Inventory Days: 43
Payable Days: 112
: -63
Debt to Equity (x): 0.19x
Interest Coverage (x): 32.74x
: 0.80x
Revenue Growth %: -17.19%
Operating Profit Growth %: -19.43%
Net Profit Growth %: -18.44%
: -18.44%
P/E (x): 33.83x
P/B (x): 54.12x
Dividend Yield %: 1.20%
: 45.05x

Mar 2026

EPS (₹): 18.15
Book Value (₹): 26.74
Dividend per Share (₹): 12.00
Cash EPS (₹): 21.77
Operating Margin %: 22.01%
Net Margin %: 14.52%
ROE %: 76.34%
ROCE %: 98.35%
: 27.58%
Debtor Days: 5
Inventory Days: 41
Payable Days: 109
: -63
Debt to Equity (x): 0.00x
Interest Coverage (x): 14.99x
: 0.96x
Revenue Growth %: 14.62%
Operating Profit Growth %: 14.11%
Net Profit Growth %: 9.09%
: -45.45%
P/E (x): 64.74x
P/B (x): 43.93x
Dividend Yield %: 1.02%
: 40.84x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.76	62.76	62.76	62.76	62.76	62.76	62.76	62.76	62.76
	11.94	11.94	10.27	10.02	10.02	9.82	9.81	9.74	10.30
	9.17	9.45	10.75	11.29	11.43	11.75	12.10	12.40	11.89
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	16.11	15.85	16.22	15.92	15.78	15.65	15.33	15.10	15.04

Jun 2024

: 62.76
: 11.94
: 9.17
Government: 0.00
: 16.11

Sep 2024

: 62.76
: 11.94
: 9.45
Government: 0.00
: 15.85

Dec 2024

: 62.76
: 10.27
: 10.75
Government: 0.00
: 16.22

Mar 2025

: 62.76
: 10.02
: 11.29
Government: 0.00
: 15.92

Jun 2025

: 62.76
: 10.02
: 11.43
Government: 0.00
: 15.78

Sep 2025

: 62.76
: 9.82
: 11.75
Government: 0.00
: 15.65

Dec 2025

: 62.76
: 9.81
: 12.10
Government: 0.00
: 15.33

Mar 2026

: 62.76
: 9.74
: 12.40
Government: 0.00
: 15.10

Jun 2026

: 62.76
: 10.30
: 11.89
Government: 0.00
: 15.04

Documents

Announcements

Updates
2026-08-12 - Nestle India Limited has informed the Exchange regarding 'Newspaper advertisement Public Notice regarding intimation to the shareholders aboutopening of another Special Window by SEBI for Transfer and Dematerialisation of PhysicalSecurities'.
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-07 - Nestle India Limited has informed the Exchange about Transcript of analyst and institutional investors meet (virtual) held on 4th August 2026

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
Transcript PPTREC
Feb 2025
Transcript PPTREC
Apr 2024
TranscriptPPTREC