Nestle India Ltd. share price target

Sales for the quarter were up 10.9% YoY to | 2589.6 crore (Idirect estimate: | 2717.2 crore) led by 10.8% domestic sales growth. However, on a comparable basis, domestic sales witnessed growth of 18.1% mainly on the back of volume growth...

Reported net sales increased 15.6% YoY to INR25.9b in 4QCY17. The company's press release states that domestic comparable sales growth adjusted for GST was 18.1% YoY. Exports grew 12.7% YoY to INR1.9b.Gross margin expanded 160bp YoY to 58.7%. Other expenses were down sharply by 240bp YoY. Staff costs too fell 10bp YoY to 10.1%. EBITDA margin,thus, expanded 410bp YoY to 24.4% in 4QCY17. EBITDA grew 38.7% YoY toINR6.3b (est. of INR5.3b). PAT rose 50.2% YoY to INR4.2b (est. of INR3.3b).CY17 highlights: Net sales were up 9.7% YoY to INR99.5b. EBITDA margin expanded marginally by 10bp YoY to 21.7%. EBITDA grew 10.1% YoY toINR21.6b. PAT rose 13.2% YoY to INR13.5b

Nestle India Ltd Q3CY17 results comment Revenue rose by 4.78% to Rs. 2500.67 Cr in Q3CY17 when compared to the previous quarter. Also, it rose by 7.55% when compared with Q3CY16.

Nestle India has posted robust operating performance in 3QCY17. While its net sales came in at Rs25bn (vs. our estimate of Rs25.6bn), net profit rose by 23.3% YoY to Rs3.4bn (vs. our estimate of Rs2.9bn) and EBITDA margin rose by 260bps YoY to 23.4%. Introducing CY19E estimates for Nestle, we expect revenue and earnings CAGR of 12.5% and 16.6%, respectively through CY16-19E. However, as valuations at 41.2x CY19E earnings cap any near-term upside, we...

ICICI Securities Ltd | Retail Equity Research Nestl India reported a robust set of numbers in Q3CY17 with healthy volume growth in domestic business. Net sales grew by 7.5% YoY to | 2500.6 crore (I direct estimate: | 2508.0 crore) on the back of strong 9.1% YoY growth in domestic business largely led by healthy volume growth. Export revenue grew by 2.6% to | 160.0 crore. Growth in Maggi Noodles drove the volume growth. Company continued its innovation during the quarter and launched Maggi...

Reported 3QCY17 net sales grew 7.9% YoY (9.1% YoY comparable growth due to GST accounting) to INR25b. Management stated that sales growth was volume-led across all product groups. EBITDA grew 19.2% YoY (est. of -5%) to INR5.8b. Adj. PAT increased 17.8% YoY (est. of -7.5% YoY) to INR3.5b. EBITDA margin expanded 220bp YoY: Gross margin contraction was lower than expected (-100bp to 56.6% v/s est. of -150bp). Staff costs rose 20bp YoY. However, the impact of higher material and staff costs was offset by a sharp decline of 340bp YoY in other expenses. EBITDA margin thus expanded 220bp...

Revenue fell by 3.6% to Rs. 2386.54 Cr in Q2CY17 when compared to the previous quarter Revenue fell by 3.6% to Rs. 2386.54 Cr in Q2CY17 when compared to the previous quarter

ICICI Securities Ltd | Retail Equity Research Nestl India (NIL) reported a healthy set of numbers despite destocking in June ahead of our estimates on both revenue and profitability front. Revenue for the quarter grew by 7.3% YoY to | 2469.1 crore, against our estimate of | 2289.0 crore led by 8.8% domestic sales growth despite some impact on revenues in the month of June due to de-stocking ahead of GST implementation. The domestic growth was largely volume driven led by new product launches and re-gaining of Maggi's market position. However, the...

Nestl India has reported a good set of numbers for 2QCY17 in spite of trade pipeline correction in June prior to GST roll-out. While net sales increased by 6.9% YoY to Rs23.9bn (vs. our estimate of Rs22.8bn), EBITDA fell by 5.9% YoY to Rs4.6bn (vs. our estimate of Rs4.3bn). Net profit for the...

The Year of Aggression with a Purpose - for Nestle India: Nestle India reported a surge of 6.8% in its net profit after tax for Q1CY17. Driven by volume growth across products including Maggi noodles, the FMCG major posted net profit of Rs. 3068 Mn for the first quarter this year. The companyfollows the calendar year January-December in reporting financial results. Its net sales during the quarter under review were at Rs. 24919 Mn up 9.1% as against Rs. 22837 Mn last year.