Company Valuation: Nestlé India Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 16,75,397 18,98,604 25,29,273 21,70,366 22,65,384 27,45,245 - -
Change - 13.32% 33.22% -14.19% 4.38% 21.18% - -
Enterprise Value (EV) 1 16,66,241 18,90,170 25,24,530 21,81,078 22,52,219 27,21,524 27,08,142 26,90,310
Change - 13.44% 33.56% -13.6% 3.26% 20.84% -0.49% -0.66%
P/E 70.1x 63.3x 64.3x 65.5x 63.9x 69.5x 59.9x 52.6x
PBR 68.1x 61.4x 75.7x 54.1x 42.7x 44.2x 37.9x 32.2x
PEG - 2.5x 2.1x -4.2x 9.23x 6.1x 3.7x 3.8x
Capitalization / Revenue 9.92x 9.93x 10.4x 10.7x 9.78x 10.5x 9.4x 8.48x
EV / Revenue 9.86x 9.88x 10.3x 10.8x 9.73x 10.4x 9.27x 8.32x
EV / EBITDA 44.5x 42.3x 43.4x 45.7x 42.4x 44.1x 38.3x 33.9x
EV / EBIT 49.9x 46.8x 47.8x 51.5x 48.9x 50.7x 44x 39x
EV / FCF 76.2x 93.5x 110x 235x 53.4x 67.2x 54.8x 46.5x
FCF Yield 1.31% 1.07% 0.91% 0.43% 1.87% 1.49% 1.82% 2.15%
Dividend per Share 2 11 - 16.1 13.5 12 15.59 18.05 20.34
Rate of return 1.27% - 1.23% 1.2% 1.02% 1.1% 1.27% 1.43%
EPS 2 12.4 15.55 20.4 17.19 18.38 20.48 23.79 27.06
Distribution rate 88.7% - 78.9% 78.5% 65.3% 76.1% 75.9% 75.2%
Net sales 1 1,68,970 1,91,263 2,43,939 2,02,016 2,31,546 2,62,258 2,92,155 3,23,547
EBITDA 1 37,420 44,710 58,198 47,737 53,061 61,775 70,626 79,300
EBIT 1 33,390 40,421 52,820 42,338 46,068 53,657 61,583 69,000
Net income 1 23,905 29,987 39,328 33,145 35,446 39,621 45,956 52,874
Net Debt 1 -9,155 -8,434 -4,743 10,712 -13,164 -23,721 -37,103 -54,935
Reference price 2 868.84 984.59 1,311.65 1,125.52 1,174.80 1,423.65 1,423.65 1,423.65
Nbr of stocks (in thousands) 19,28,314 19,28,314 19,28,314 19,28,314 19,28,314 19,28,314 - -
Announcement Date 16/02/23 07/02/24 25/04/24 24/04/25 21/04/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
69.61x10.39x44.12x1.09% 2.86TCr
20.8x2.99x14.68x3.75% 27TCr
20.51x2.4x14.16x3.53% 7.54TCr
18.94x1.93x10.88x3.25% 5.26TCr
18.33x0.55x10.51x2.5% 3.97TCr
21.32x3.17x12.9x3.39% 3.45TCr
39.6x3.32x19.67x0.9% 3.3TCr
12.13x1.95x9.59x6.31% 3.02TCr
13.3x0.4x9.13x2.51% 2.25TCr
31.42x0.65x16.4x0.63% 2.03TCr
Average 26.60x 2.77x 16.20x 2.79% 6.04TCr
Weighted average by Cap. 23.45x 2.81x 15.17x 3.27%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Nestlé India Limited