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 28,21,510 - -
Change - 13.32% 33.22% -14.19% 4.38% 24.55% - -
Enterprise Value (EV) 1 16,66,241 18,90,170 25,24,530 21,81,078 22,52,219 27,97,614 27,84,222 27,66,326
Change - 13.44% 33.56% -13.6% 3.26% 24.22% -0.48% -0.64%
P/E 70.1x 63.3x 64.3x 65.5x 63.9x 71.5x 61.5x 54.2x
PBR 68.1x 61.4x 75.7x 54.1x 42.7x 45.4x 38.9x 33.1x
PEG - 2.5x 2.1x -4.2x 9.23x 6.3x 3.8x 4x
Capitalization / Revenue 9.92x 9.93x 10.4x 10.7x 9.78x 10.8x 9.66x 8.73x
EV / Revenue 9.86x 9.88x 10.3x 10.8x 9.73x 10.7x 9.53x 8.56x
EV / EBITDA 44.5x 42.3x 43.4x 45.7x 42.4x 45.3x 39.4x 35x
EV / EBIT 49.9x 46.8x 47.8x 51.5x 48.9x 52.2x 45.3x 40.2x
EV / FCF 76.2x 93.5x 110x 235x 53.4x 68.9x 56.4x 47.8x
FCF Yield 1.31% 1.07% 0.91% 0.43% 1.87% 1.45% 1.77% 2.09%
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% 1.07% 1.23% 1.39%
EPS 2 12.4 15.55 20.4 17.19 18.38 20.47 23.77 27.01
Distribution rate 88.7% - 78.9% 78.5% 65.3% 76.2% 75.9% 75.3%
Net sales 1 1,68,970 1,91,263 2,43,939 2,02,016 2,31,546 2,62,309 2,92,120 3,23,312
EBITDA 1 37,420 44,710 58,198 47,737 53,061 61,756 70,580 79,131
EBIT 1 33,390 40,421 52,820 42,338 46,068 53,612 61,514 68,833
Net income 1 23,905 29,987 39,328 33,145 35,446 39,594 45,923 52,714
Net Debt 1 -9,155 -8,434 -4,743 10,712 -13,164 -23,895 -37,287 -55,184
Reference price 2 868.84 984.59 1,311.65 1,125.52 1,174.80 1,463.20 1,463.20 1,463.20
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.($)
20.86x2.99x14.72x3.74% 27TCr
20.78x2.42x14.28x3.5% 7.64TCr
19.29x1.95x11.02x3.19% 5.34TCr
17.88x0.53x10.29x2.56% 3.87TCr
21.85x3.23x13.15x3.31% 3.54TCr
40.28x3.38x19.99x0.88% 3.35TCr
11.89x1.92x9.45x6.44% 2.95TCr
13.24x0.39x9.11x2.52% 2.24TCr
11.51x1.81x10.35x6.75% 1.94TCr
Average 19.73x 2.07x 12.49x 3.65% 6.4TCr
Weighted average by Cap. 20.62x 2.50x 13.59x 3.58%

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