Nestle India Ltd

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

Pros:
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 38.60%
Company has been maintaining a healthy dividend payout of 65.78%
Cons:
Stock is trading at 34.20 times its book value
The company has delivered a poor growth of 4.41% over past five years.

Peer Comparison Sector: FMCG // Industry: Food - Processing - MNC

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
2,343 2,266 2,492 2,402 2,514 2,601 2,757 2,698 2,939 2,897 3,003 3,001
1,859 1,877 1,974 1,941 1,930 2,068 2,060 2,053 2,214 2,347 2,265 2,304
Operating Profit 483 389 517 462 584 533 697 645 725 551 738 697
OPM % 21% 17% 21% 19% 23% 21% 25% 24% 25% 19% 25% 23%
Other Income 37 43 42 41 43 51 56 60 67 75 73 73
Interest 22 21 23 23 23 23 31 28 27 25 32 30
Depreciation 88 87 87 85 86 84 83 82 93 78 78 81
Profit before tax 410 323 450 395 518 477 640 595 672 522 701 659
Tax % 32% 40% 32% 33% 34% 35% 34% 34% 34% 35% 34% 34%
Net Profit 278 195 307 263 343 312 424 395 446 342 463 438
EPS in Rs 28.87 20.27 31.82 27.32 35.59 32.34 43.98 40.97 46.27 35.45 48.05 45.40
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 TTM
3,501 4,328 5,129 6,255 7,515 8,335 9,101 9,855 8,175 9,141 10,010 11,292 11,840
2,861 3,492 4,134 5,016 5,990 6,509 7,153 7,823 6,620 7,313 7,913 8,675 9,130
Operating Profit 640 836 995 1,239 1,525 1,825 1,948 2,032 1,555 1,829 2,097 2,618 2,711
OPM % 18% 19% 19% 20% 20% 22% 21% 21% 19% 20% 21% 23% 23%
Other Income 64 31 35 35 21 31 97 94 -391 161 177 259 288
Interest 1 2 1 1 5 27 37 14 3 91 92 112 114
Depreciation 75 92 111 128 153 277 330 338 347 354 342 336 330
Profit before tax 629 773 917 1,145 1,388 1,553 1,678 1,774 814 1,545 1,839 2,429 2,554
Tax % 34% 31% 29% 29% 31% 31% 33% 33% 31% 35% 33% 34%
Net Profit 414 534 655 819 962 1,068 1,117 1,185 563 1,001 1,225 1,607 1,689
EPS in Rs 37.50 48.17 59.69 76.90 91.91 102.89 107.62 111.55 48.50 103.85 127.07 166.66 175.17
Dividend Payout % 77% 77% 71% 57% 49% 44% 42% 51% 83% 61% 68% 69%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:10.07%
5 Years:4.41%
3 Years:11.37%
TTM:12.01%
Compounded Profit Growth
10 Years:11.61%
5 Years:7.72%
3 Years:21.97%
TTM:14.58%
Stock Price CAGR
10 Years:18.62%
5 Years:19.77%
3 Years:27.25%
1 Year:46.74%
Return on Equity
10 Years:49.43%
5 Years:38.43%
3 Years:38.60%
Last Year:45.30%

Balance Sheet Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Jun 2019
96 96 96 96 96 96 96 96 96 96 96 96 96
Reserves 322 377 485 759 1,178 1,702 2,272 2,741 2,721 3,186 3,324 3,577 3,898
Borrowings 3 0 0 0 971 1,050 1,189 20 18 33 35 35 52
1,027 1,261 1,501 1,752 2,217 2,387 2,848 3,067 3,367 3,633 4,060 4,559 4,625
Total Liabilities 1,449 1,734 2,082 2,607 4,462 5,236 6,406 5,924 6,202 6,948 7,516 8,268 8,672
602 753 896 1,013 1,576 3,204 3,369 3,177 2,898 2,730 2,616 2,401 2,313
CWIP 74 109 80 349 1,372 344 295 245 231 188 94 105 96
Investments 94 35 203 151 134 365 851 812 1,325 1,756 1,979 2,658 2,503
679 837 903 1,095 1,380 1,322 1,891 1,691 1,749 2,274 2,827 3,104 3,760
Total Assets 1,449 1,734 2,082 2,607 4,462 5,236 6,406 5,924 6,202 6,948 7,516 8,268 8,672

Cash Flows Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018
519 722 928 1,037 1,158 1,693 1,796 1,644 1,098 1,466 1,818 2,052
-169 -252 -255 -446 -1,528 -941 -441 -432 -70 -126 -131 -52
-372 -374 -542 -544 323 -513 -580 -1,635 -498 -666 -997 -1,317
Net Cash Flow -22 96 130 47 -47 239 775 -423 529 674 691 683

Ratios Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018
ROCE % 157% 174% 175% 161% 90% 62% 53% 56% 46% 54% 57% 71%
Debtor Days 6 4 5 4 6 4 3 4 4 4 3 4
Inventory Turnover 10.33 10.35 10.99 11.64 11.47 11.27 12.29 12.47 9.82 10.38 10.87 12.09