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 1,675,397 1,898,604 2,529,273 2,170,366 2,265,384 2,713,427 - -
Change - 13.32% 33.22% -14.19% 4.38% 19.78% - -
Enterprise Value (EV) 1 1,666,241 1,890,170 2,524,530 2,181,078 2,252,219 2,689,527 2,676,215 2,658,729
Change - 13.44% 33.56% -13.6% 3.26% 19.42% -0.49% -0.65%
P/E 70.1x 63.3x 64.3x 65.5x 63.9x 68.8x 59.3x 52.1x
PBR 68.1x 61.4x 75.7x 54.1x 42.7x 44x 37.6x 32.1x
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 10.3x 9.29x 8.38x
EV / Revenue 9.86x 9.88x 10.3x 10.8x 9.73x 10.3x 9.16x 8.21x
EV / EBITDA 44.5x 42.3x 43.4x 45.7x 42.4x 43.6x 37.9x 33.6x
EV / EBIT 49.9x 46.8x 47.8x 51.5x 48.9x 50.2x 43.5x 38.5x
EV / FCF 76.2x 93.5x 110x 235x 53.4x 66.5x 54.2x 46x
FCF Yield 1.31% 1.07% 0.91% 0.43% 1.87% 1.5% 1.84% 2.18%
Dividend per Share 2 11 - 16.1 13.5 12 15.59 18.01 20.34
Rate of return 1.27% - 1.23% 1.2% 1.02% 1.11% 1.28% 1.45%
EPS 2 12.4 15.55 20.4 17.19 18.38 20.47 23.74 27.02
Distribution rate 88.7% - 78.9% 78.5% 65.3% 76.2% 75.9% 75.3%
Net sales 1 168,970 191,263 243,939 202,016 231,546 262,207 292,134 323,933
EBITDA 1 37,420 44,710 58,198 47,737 53,061 61,692 70,537 79,233
EBIT 1 33,390 40,421 52,820 42,338 46,068 53,570 61,513 68,984
Net income 1 23,905 29,987 39,328 33,145 35,446 39,541 45,875 52,707
Net Debt 1 -9,155 -8,434 -4,743 10,712 -13,164 -23,900 -37,212 -54,699
Reference price 2 868.84 984.59 1,311.65 1,125.52 1,174.80 1,407.15 1,407.15 1,407.15
Nbr of stocks (in thousands) 1,928,314 1,928,314 1,928,314 1,928,314 1,928,314 1,928,314 - -
Announcement Date 2/16/23 A 2/7/24 A 4/25/24 A 4/24/25 A 4/21/26 A - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.81x2.88x14.14x3.94% 258B
21.34x2.5x14.74x3.32% 79.78B
17.49x1.78x10.05x3.53% 49.18B
17.16x0.53x10.09x2.66% 37.6B
22.74x3.36x13.66x3.16% 37.02B
38.41x3.33x18.56x0.93% 30.69B
11.37x1.87x9.2x6.74% 28.22B
13.72x0.4x9.06x2.39% 23.17B
31.42x0.65x16.37x0.63% 20.19B
Average 21.49x 1.92x 12.87x 3.03% 62.64B
Weighted average by Cap. 20.59x 2.40x 13.43x 3.48%

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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