New Research Reports

Sales were 3% higher vs consensus likely reflecting strong cigarette volumes. EBITDA was 5% below expectations due to inflation

With an upside potential of 16% from the CMP, we maintain our BUY rating on the stock.

We remain optimistic about the company's long-term prospects. With a 10% upside potential from the CMP, we maintain our BUY rating on the stock.

Nestlé sees strong growth potential in India, as its per capita packaged food consumption remains low. With 60 million people expected to join the middle- and high-income segments by 2030, rising affordability will boost demand.

The company's revenue stood at Rs. 47,797 Millions in Dec 24 quarter, showing a 3.9% increase compared to Rs. 46,004 Millions in the corresponding quarter of the previous year whereas there was a de growth of 6.4% on QoQ basis. In 9M FY25 basis, the company reported a revenue of Rs. 146,977 Millions a growth of 2.8% on annual basis.

TCPL’s Q3FY25 numbers are not exactly comparable on y-o-y basis due to consolidation of acquired businesses - Capital Foods and Organic India. TCPL’s Q3FY25 performance was impacted by sharp increase in the tea prices (up by 20-40%) which led to 234 bps y-o-y decline in the consolidated OPM to 12.7%.