Nestle India Ltd

About [ edit ]

Nestle India Limited is an India-based company engaged in food business. The Company operates in the Food segment.

Key Points [ edit ]
  • Market Cap 155,245 Cr.
  • Current Price 16,102
  • High / Low 18,844 / 12,200
  • Stock P/E 74.6
  • Book Value 209
  • Dividend Yield 1.24 %
  • ROCE 143 %
  • ROE 105 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 18.65% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 67.97%
  • Company has been maintaining a healthy dividend payout of 109.68%

Cons

  • Stock is trading at 76.88 times its book value
  • The company has delivered a poor sales growth of 10.31% over past five years.

Peer comparison

Sector: FMCG Industry: Food - Processing - MNC

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2,757 2,698 2,939 2,897 3,003 3,001 3,216 3,149 3,325 3,050 3,542 3,433
2,060 2,053 2,214 2,347 2,250 2,288 2,449 2,455 2,532 2,303 2,658 2,656
Operating Profit 697 645 725 551 753 713 766 694 793 748 884 777
OPM % 25% 24% 25% 19% 25% 24% 24% 22% 24% 25% 25% 23%
Other Income 56 60 67 75 73 73 56 45 43 38 34 31
Interest 31 28 27 25 34 32 32 31 41 41 40 42
Depreciation 83 82 93 78 91 94 91 94 91 92 91 96
Profit before tax 640 595 672 522 701 659 700 614 704 652 786 670
Tax % 34% 34% 34% 35% 34% 34% 15% 23% 25% 25% 25% 28%
Net Profit 424 395 446 342 463 438 595 473 525 487 587 483
EPS in Rs 43.98 40.97 46.27 35.45 47.99 45.41 61.74 49.02 54.50 50.47 60.89 50.13
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
5,129 6,255 7,515 8,335 9,101 9,855 8,175 9,141 10,010 11,292 12,369 13,350
4,134 5,016 5,990 6,509 7,153 7,823 6,620 7,313 7,913 8,675 9,505 10,149
Operating Profit 995 1,239 1,525 1,825 1,948 2,032 1,555 1,829 2,097 2,618 2,864 3,202
OPM % 19% 20% 20% 22% 21% 21% 19% 20% 21% 23% 23% 24%
Other Income 35 35 21 31 97 94 -391 161 177 259 247 146
Interest 1 1 5 27 37 14 3 91 92 112 120 164
Depreciation 111 128 153 277 330 338 347 354 342 336 316 370
Profit before tax 917 1,145 1,388 1,553 1,678 1,774 814 1,545 1,839 2,429 2,675 2,813
Tax % 29% 29% 31% 31% 33% 33% 31% 35% 33% 34% 26% 26%
Net Profit 655 819 962 1,068 1,117 1,185 563 1,001 1,225 1,607 1,970 2,082
EPS in Rs 67.93 84.91 99.73 110.76 115.87 122.87 58.42 103.86 127.07 166.67 204.28 215.98
Dividend Payout % 71% 57% 49% 44% 42% 51% 83% 61% 68% 69% 167% 93%
Compounded Sales Growth
10 Years:8%
5 Years:10%
3 Years:10%
TTM:8%
Compounded Profit Growth
10 Years:10%
5 Years:19%
3 Years:19%
TTM:6%
Stock Price CAGR
10 Years:16%
5 Years:26%
3 Years:28%
1 Year:2%
Return on Equity
10 Years:53%
5 Years:54%
3 Years:68%
Last Year:105%

Balance Sheet

Figures in Rs. Crores

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
96 96 96 96 96 96 96 96 96 96 96 96
Reserves 485 759 1,178 1,702 2,272 2,741 2,721 3,186 3,324 3,577 1,836 1,923
Borrowings 0 0 971 1,050 1,189 20 18 33 35 35 53 147
1,454 1,703 2,157 2,315 2,756 2,963 3,251 3,495 3,907 4,379 5,073 5,733
Total Liabilities 2,036 2,558 4,402 5,164 6,314 5,820 6,086 6,810 7,363 8,088 7,058 7,900
896 1,013 1,576 3,204 3,369 3,177 2,898 2,730 2,616 2,401 2,227 2,179
CWIP 80 349 1,372 344 295 245 231 188 94 105 143 639
Investments 203 151 134 365 851 812 1,325 1,756 1,979 2,658 1,751 1,464
857 1,046 1,320 1,251 1,799 1,586 1,633 2,136 2,673 2,924 2,937 3,618
Total Assets 2,036 2,558 4,402 5,164 6,314 5,820 6,086 6,810 7,363 8,088 7,058 7,900

Cash Flows

Figures in Rs. Crores

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
928 1,037 1,158 1,693 1,796 1,644 1,098 1,466 1,818 2,052 2,234 2,454
-255 -446 -1,528 -941 -441 -432 -70 -126 -131 -52 83 -321
-542 -544 323 -513 -580 -1,635 -498 -666 -997 -1,317 -3,540 -1,956
Net Cash Flow 130 47 -47 239 775 -423 529 674 691 683 -1,223 177

Ratios

Figures in Rs. Crores

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
ROCE % 175% 161% 90% 62% 53% 56% 46% 54% 57% 71% 98% 143%
Debtor Days 5 4 6 4 3 4 4 4 3 4 4 5
Inventory Turnover 4.76 5.20 5.04 4.75 5.14 6.21 4.43 3.92 4.24 4.46 4.20 4.20

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
62.76 62.76 62.76 62.76 62.76 62.76 62.76 62.76 62.76 62.76 62.76 62.76
11.94 12.20 12.11 12.36 12.55 12.95 12.61 12.07 11.81 12.10 11.51 12.84
8.16 8.03 8.00 7.47 7.69 7.49 8.52 8.92 9.12 8.71 8.91 7.75
0.09 0.09 0.09 0.09 0.07 0.07 0.07 0.07 0.07 0.07 0.00 0.00
17.04 16.92 17.03 17.31 16.93 16.73 16.04 16.18 16.24 16.36 16.82 16.65

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