Nestle logo

Nestle

NESTLEIND NSE

Key Fundamentals

LargecapPackaged FoodsFood Products
Market Cap
2.5L Cr
Volatility
Moderate
P/E Ratio
65.29
EBITDA
₹5,346 Cr
Return on Equity
67.85%
Debt to Equity
0.08
Book Value
₹26.74
EPS
₹33.58
52W High
₹1,553
52W Low
₹1,145

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 92.3%
  • Company has been maintaining a healthy dividend payout of 74.3%

Weaknesses

2
  • Stock is trading at 47.5 times its book value
  • The company has delivered a poor sales growth of 11.6% over past five years.

Growth Rate

Revenue Growth
14.48% higher than 3Y
Net Income Growth
9.09% lower than 3Y
Cash Flow Change
71.9% higher than 3Y
ROE
-15.18% lower than 3Y
ROCE
-5.43% higher than 3Y
EBITDA Margin (Avg.)
-3.35% higher than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk medium

Nestle India Ltd has a market capitalisation of about ₹2,60,785 crore and trades at 68.5x earnings and roughly 50x book value. Its 3-year average ROE is 92%, and TTM sales and profit growth of 19% and 25% are above its 5-year compounded rates of 12% and 11%. The stock returned 17% over the past year, compared with 6% and 7% CAGR over 3 and 5 years, so recent returns have been well above the medium-term trend.

Bull Case 8
  • Return on equity is very high: 92% over 3 years, 98% over 5 years and 76% over 10 years. That points to strong pricing power and efficient use of capital.
  • TTM sales growth of 19% is well above the 5-year compounded rate of 12% and the 10-year rate of 11%, which suggests demand is picking up.
  • TTM profit growth of 25% is higher than 3-year (13%) and 5-year (11%) profit CAGR, so margins or operating leverage appear to be improving.
  • Over 10 years, profit has compounded at 15% a year against 11% for sales, a gap that shows margins expanding steadily.
  • The company is almost debt-free and has reduced its debt further, so its balance sheet carries little financial risk.
  • Dividend payout is 74.3% of profits, giving a dividend yield of 1.04% while the company still funds its own growth.
  • The stock has compounded at 16% a year over 10 years, broadly in line with 15% profit CAGR, so long-term returns have tracked earnings growth.
  • The 1-year stock return of 17% came alongside 25% TTM profit growth, so the recent price gain has been backed by earnings.
Bear Case 8
  • A P/E of 68.5x prices in sustained high growth, leaving little room for disappointment. That multiple is high relative to 5-year profit CAGR of 11%.
  • The stock trades at about 49.5–50.6x book value, one of the highest price-to-book multiples among Indian listed companies. That makes it vulnerable if the multiple compresses.
  • Sales growth over the past 5 years was 11.6% a year, which is modest for a premium-valued consumer company.
  • Stock CAGR of 6% over 3 years and 7% over 5 years is well below the 16% 10-year CAGR. Recent-period returns have been weak even though the business kept growing.
  • Last year's ROE of 73% is down from the 3-year average of 92% and 5-year average of 98%, so returns on equity are falling from their peak.
  • The dividend yield of 1.04% is low in absolute terms because of the high valuation, even with a 74.3% payout.
  • TTM growth of 19% in sales and 25% in profit is much higher than the 10-year sales CAGR of 11%. If growth reverts toward that long-run average, the 68.5x P/E may be hard to sustain.
  • A 74.3% payout ratio leaves limited retained earnings. Large capacity expansion or acquisitions could therefore require lower dividends or external funding.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 6
  • FSSAI files three adjudication cases Sep 18

    FSSAI filed three adjudication cases over NAN Excella Pro Stage 1 ('5 HMOs', 'Whey Protein' claims) and Lactogen Pro 1 ('easy to digest' whey claim), citing Regulation 4(2) of the Foods for Infant Nutrition Regulations, 2020. Shares reversed from an intraday high of ₹1,389 and closed 1.4% lower at ₹1,353.10. Another report put the fall at 2.3% to ₹1,336 on BSE.

  • Biotin failure in follow-up formula Sep 18

    A follow-up formula sample was sub-standard for biotin, and the Referral Laboratory confirmed it on re-analysis. That points to a possible formulation or quality-control gap in a segment worth about ₹77,168 mn (33.4% of revenue).

  • Infant nutrition revenue and share risk Sep 18

    Analyst scenarios estimate a ₹200-450 cr revenue hit (0.9-1.9%) if products are recalled, or ₹400-800 cr (1.7-3.5%) with 100-200 bps margin erosion if sales are restricted. That would put the 60%+ share of NAN and Lactogen at risk against Danone and Abbott. IMS Act violations can carry up to 3 years' imprisonment.

  • Technical breakdown below 200-DMA Sep 18

    The stock is down 14.2% from its Aug 7 record high of ₹1,553 and has slipped below its 200-DMA for the first time since Apr 9, 2026. It is down 3% over the week and 8% over the month.

  • Five-session losing streak Sep 7

    Shares fell for a fifth straight session to ₹1,398.8 (-0.83%) and are down 8.49% over a month, versus a 7.62% fall in the Nifty FMCG index. Volume was 5.57 lakh shares against a 15.48 lakh monthly average, and trailing P/E is a rich 72.93x.

  • Rising compliance costs Sep 18

    Analysts estimate Nestle may need to spend ₹160-250 cr over three years on quality infrastructure, testing and compliance. Promotion of products for under-2s on e-commerce must also be scaled back.

Positives 4
  • Nuvama reiterates Buy, sees 20% growth Sep 16

    Nuvama kept its Buy rating with a ₹1,383 target and projects 20% YoY sales growth in Q2FY27 on a 10.6% base. Shares rose as much as 2.5% to ₹1,397, which is already above the target.

  • Premiumisation and distribution expansion Sep 16

    The premium portfolio rose to 14% of the mix in FY26 from 11% in 2021 (17% CAGR), and e-commerce is expected to exceed 13%. Distribution reach grew to 6.2 mn outlets in Jun-26 from 5.7 mn in 2023.

  • Strong relative outperformance Sep 18

    The stock is up about 6% in CY2026 while the Sensex is down 12.5%. It has gained 11.5% over six months and 17.77% over one year, against an 18.81% fall in the Nifty FMCG index.

  • Lower cocoa dependence aids chocolates Sep 16

    Nuvama says reduced cocoa dependence could support chocolate market share gains. It also sees penetration headroom in noodles and long-term growth in coffee.

Neutral 4
  • Nestle says products fully compliant Sep 18

    Nestle says NAN Excella Pro and Lactogen Pro labels were approved by FSSAI's expert committee and that its claims are factual and backed by science. It has filed a detailed response with the regulator.

  • Sector-wide FSSAI crackdown Sep 18

    FSSAI has sent over 150 notices to companies including PepsiCo, Coca-Cola, Abbott, Danone, Mondelez and Ferrero. That suggests systemic enforcement rather than a Nestle-only issue, though Nestle's case also includes a quality failure.

  • GST penalty cut to ₹12.97 lakh Sep 9

    A GST order-in-appeal for FY17-20 reduced the penalty to ₹12.97 lakh and tax liability to ₹1.30 cr. The company plans to challenge the order further, and the amount is immaterial.

  • JP Morgan India Conference participation Sep 15

    Nestle India will attend the JP Morgan India Conference in Mumbai on Sep 21, 2026, and says no unpublished price-sensitive information will be shared.

TL;DR: Nestle India's fundamentals look solid: Nuvama expects 20% Q2FY27 sales growth, premiumisation and e-commerce are scaling, and the stock is up about 6% YTD while the Sensex is down 12.5%. FSSAI's three adjudication cases on infant nutrition, including a lab-confirmed biotin failure, add regulatory and reputational risk to a high-margin segment where NAN and Lactogen hold over 60% share. The near-term trend is deteriorating, with the stock 14.2% off its high, below its 200-DMA and trading at a stretched ~73x P/E. Watch how FSSAI rules on the cases and the Q2FY27 results to see whether growth can outweigh the regulatory overhang.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,659
5,037
4,600
5,268
4,814
5,104
4,780
5,504
5,096
5,644
5,667
6,748
6,378
Expenses
3,603
3,812
3,505
3,918
3,700
3,936
3,677
4,116
3,996
4,407
4,466
4,976
4,840
Operating Profit
1,056
1,225
1,095
1,350
1,114
1,168
1,103
1,388
1,100
1,237
1,201
1,772
1,538
OPM %
23%
24%
24%
26%
23%
23%
23%
25%
22%
22%
21%
26%
24%
Other Income
24
140
-77
37
39
298
4
9
4
2
170
-18
16
Interest
33
31
23
26
32
32
35
38
47
46
28
37
42
Depreciation
107
111
109
110
113
122
150
155
157
163
174
205
188
PBT
939
1,222
886
1,251
1,009
1,312
922
1,205
900
1,029
1,168
1,513
1,324
Tax %
26%
26%
26%
25%
26%
25%
25%
26%
27%
27%
13%
26%
26%
Net Profit
698
908
656
934
747
986
696
885
659
753
1,018
1,114
975
EPS in Rs
3.62
4.71
3.4
4.84
3.87
5.12
3.61
4.59
3.42
3.91
5.28
5.78
5.06
Figures in ₹ Crores

Profit & Loss

Particulars Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Mar 2024 15mMar 2025Mar 2026TTM
Sales
8,175
9,141
10,010
11,292
12,369
13,350
14,741
16,897
19,126
24,394
20,202
23,155
24,437
Expenses
6,620
7,292
7,913
8,675
9,443
10,149
11,178
13,191
14,655
18,551
15,430
17,848
18,689
Operating Profit
1,555
1,850
2,097
2,618
2,926
3,202
3,562
3,706
4,471
5,843
4,771
5,307
5,747
OPM %
19%
20%
21%
23%
24%
24%
24%
22%
23%
24%
24%
23%
24%
Other Income
-391
140
177
259
247
146
-112
107
116
159
352
160
170
Interest
3
91
92
112
129
164
202
155
119
145
136
158
154
Depreciation
347
354
342
336
370
370
391
403
429
568
540
699
730
PBT
814
1,545
1,839
2,429
2,673
2,813
2,857
3,256
4,038
5,289
4,447
4,610
5,034
Tax %
31%
35%
33%
34%
26%
26%
26%
27%
26%
26%
25%
23%
—
Net Profit
563
1,001
1,225
1,607
1,968
2,082
2,118
2,391
2,999
3,933
3,314
3,545
3,860
EPS in Rs
2.92
5.19
6.35
8.33
10.21
10.8
10.99
12.4
15.55
20.4
17.19
18.38
20.03
Div. Payout %
83%
61%
68%
69%
168%
93%
91%
89%
56%
79%
79%
65%
—
Figures in ₹ Crores

Balance Sheet

Particulars Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Mar 2024Mar 2025Mar 2026
Equity Capital
96
96
96
96
96
96
96
96
96
96
96
193
Reserves
2,721
3,186
3,324
3,577
1,822
1,923
1,850
2,363
2,363
3,244
4,021
5,116
Borrowings
18
33
35
35
189
147
266
271
271
345
1,167
444
Other Liabilities
3,251
3,495
3,907
4,379
5,065
5,733
6,021
6,249
6,249
6,838
7,040
7,604
Total Liabilities
6,086
6,810
7,363
8,088
7,173
7,900
8,234
8,979
8,979
10,523
12,324
13,357
Fixed Assets
2,898
2,730
2,616
2,401
2,341
2,179
2,995
3,044
3,044
3,460
5,474
6,290
CWIP
231
188
94
105
143
639
246
358
358
1,742
1,173
507
Investments
1,325
1,756
1,979
2,658
1,751
1,464
774
778
778
464
706
706
Other Assets
1,633
2,136
2,673
2,924
2,937
3,618
4,219
4,799
4,799
4,857
4,972
5,854
Total Assets
6,086
6,810
7,363
8,088
7,173
7,900
8,234
8,979
8,979
10,523
12,324
13,357
Figures in ₹ Crores

Cash Flow

Particulars Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Mar 2024Mar 2025Mar 2026
Operating
1,098
1,466
1,818
2,052
2,295
2,454
2,236
2,737
3,392
4,175
2,935
5,048
Investing
-70
-126
-131
-52
83
-321
-1,920
-392
-927
-1,237
-1,811
-624
Financing
-498
-666
-997
-1,317
-3,602
-1,956
-2,020
-2,123
-2,436
-3,135
-1,846
-3,179
Net Cash Flow
529
674
691
683
-1,223
177
-1,704
223
29
-198
-723
1,244
Free Cash Flow
949
1,353
1,622
1,890
2,143
1,980
1,505
2,197
2,028
2,296
930
4,221
CFO/OP
93
106
116
112
101
99
83
97
100
94
82
115
Figures in ₹ Crores

Ratios

Particulars Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Mar 2024Mar 2025Mar 2026
Debtor Days
4
4
3
4
4
5
4
4
4
4
7
5
Inventory Days
103
107
91
92
107
107
111
110
83
83
139
105
Days Payable
94
91
99
118
124
115
122
121
92
112
128
129
Cash Conversion Cycle
12
20
-5
-22
-14
-3
-7
-7
-5
-24
18
-19
Working Capital Days
-21
-10
-15
-21
-20
-22
-20
-16
-10
-19
-19
-24
ROCE %
46%
54%
57%
71%
96%
139%
150%
138%
153%
169%
96%
84%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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73 extracted metrics + investor summaries across FY01–FY27.

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Shareholding Pattern

Others3.06%Promot.62.76%FIIs10.29%DIIs11.90%Public11.98%As ofJun 2026

Documents

Frequently Asked Questions about Nestle

What does Nestle India Ltd do?
Nestle India Limited is a subsidiary of Nestle which is a Swiss MNC. The company operates in the Food segment.
Where is Nestle India Ltd (NESTLEIND) listed?
Nestle India Ltd trades as NESTLEIND on the NSE and under code 500790 on the BSE.
Which sector does Nestle India Ltd belong to?
Nestle India Ltd is classified under the Food Products sector, in the Packaged Foods industry.
What is the market capitalisation of Nestle India Ltd?
Nestle India Ltd has a market capitalisation of ₹2,53,477 Cr, which places it in the Large Cap band.
What is the PE ratio of Nestle India Ltd?
Nestle India Ltd trades at a PE ratio of 65.29, on earnings per share of ₹33.58, against a book value of ₹26.74 per share.
What is the 52-week high and low of Nestle India Ltd?
Over the last 52 weeks Nestle India Ltd has traded between ₹1,145 and ₹1,553.
Does Nestle India Ltd pay dividends?
Nestle India Ltd has a dividend yield of 1.07%.
What is the Return on Equity (ROE) of Nestle India Ltd?
Nestle India Ltd reported a return on equity of 67.85%. Its debt-to-equity ratio is 0.08.

Company Information

Nestle India Limited is a subsidiary of Nestle which is a Swiss MNC. The company operates in the Food segment.

Website nestle.in
Employees 8,419
Listed 1998-12-03
Face Value ₹ 1
Issued Size 1,92,83,14,320

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