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Nestle India Limited (NESTLEIND) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹2.8T (≈ $29.2B) · ISIN INE239A01024

What is Nestle India Limited really worth?

NI Nestle India Limited NESTLEIND · NSE
Price₹1,411
Fair Value₹362.37
Upside−74.3%
Quality72/100

A solid business, but trading 289% above our fair value of ₹362.37.

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Strengths

Healthy Growth (revenue 5y +11.7 %/yr)
Solidly profitable · 15.1% net margin
Low debt · generates free cash flow
Ranks above peers (8/13)
Wide moat 84/100

Risks

!Weak on dividend: 20 out of 100

For context

·0.99% dividend yield
Evidence: High Range ₹252.89 – ₹451.79

Fair value as of: Sep 5, 2026

From 26 valuation models · updated today

Share price −7.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹451.79). The favourable scenario is already priced in.

Price vs Fair Value (5 years)

₹1,540 ₹790.64 Fair Value ₹362.37 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range ₹790.64 – ₹1,540 · fair‑value band ₹252.89 – ₹451.79 · the ₹1,411 price screens above the ₹362.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Nestle India Limited (NESTLEIND) currently trades at ₹1,411, while our model-based Fair Value estimate is ₹362.37, implying the stock looks roughly 289.3% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of ₹448.50 per share, and 0 of the 26 models we run sit above the ₹1,411 price. Bear case: the Economic Profit group reads lowest at ₹150.30, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Nestle India Limited generated revenue of ₹231B at a net margin of 15.1%. Revenue grew 23.0% year over year. It earns a return on equity of 76.3%. The balance sheet holds a net cash position of ₹9.0B. Fundamentals as of Sep 5, 2026

Our scenario range runs from ₹252.89 (bear case) to ₹451.79 (bull case); at ₹1,411, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −25% fair-value upside, at −74%, NESTLEIND screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ₹2.83 per share, which is 0.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹17.92 to ₹528.73). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF ₹297.07 ₹527.63 ₹935.51 77
Growth DCF ₹297.58 ₹517.69 ₹906.60 76
Owner Earnings ₹237.86 ₹421.38 ₹746.05 74
All 26 models by family
DCF Models
FCF DCF ₹297.07 ₹527.63 ₹935.51 77
Owner Earnings ₹237.86 ₹421.38 ₹746.05 74
5Y Revenue Exit ₹182.88 ₹285.05 ₹417.94 72
5Y EBITDA Exit ₹266.77 ₹454.26 ₹684.54 74
5Y P/E Exit ₹277.79 ₹476.50 ₹698.94 70
10Y Revenue Exit ₹213.81 ₹323.20 ₹479.43 66
10Y EBITDA Exit ₹274.59 ₹448.50 ₹703.03 67
10Y P/E Exit ₹282.00 ₹464.97 ₹715.11 63
Earnings-Based
Graham-Dodd ₹123.39 ₹528.73 ₹722.37 64
Lynch FV ₹135.28 ₹193.25 ₹251.23 61
PEG = 1.0 ₹135.28 ₹193.25 ₹251.23 57
EPV ₹190.51 ₹222.92 ₹251.73 74
Dividend Discount
Gordon GGM ₹115.43 ₹252.00 ₹424.00 65
DDM Multi-Stage ₹115.43 ₹206.43 ₹262.62 66
Multiples
P/E Multiple ₹285.80 ₹381.06 ₹476.33 63
P/S Multiple ₹144.09 ₹192.12 ₹240.15 58
P/B Multiple ₹110.32 ₹147.09 ₹183.86 55
EV/EBIT ₹311.44 ₹412.97 ₹514.51 66
EV/EBITDA ₹275.12 ₹364.55 ₹453.98 67
EV/Revenue ₹132.92 ₹186.95 ₹240.99 54
Asset-Based
NCAV (Graham) ₹13.37 ₹17.92 ₹26.74 54
Growth DCF
Growth DCF ₹297.58 ₹517.69 ₹906.60 76
Rev-Margin DCF ₹182.88 ₹285.51 ₹415.44 72
Economic Profit
Residual Income ₹115.37 ₹150.30 ₹1,379 64
ROIC Compounder ₹199.96 ₹245.67 ₹295.02 72
Growth Earnings
Growth-Adj P/E ₹226.82 ₹324.03 ₹421.24 67

Widest divergence: DCF Models (₹448.50) versus Asset-Based (₹17.92). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 78.0
P/S ratio 11.8 P/E × margin
EPS (TTM) ₹18.08 price ÷ EPS = P/E 78.0
Dividend yield 1.0% payout 77.4%
Net margin 15.1% FY2025
Return on equity 76.3% TTM
More key figures
Profitability
Return on assets (EBIT) 37.0% avg 5y
Operating margin 23.0% TTM
Growth
Revenue (TTM) ₹231B TTM
Revenue growth (YoY) +23.0% 3y avg +11.3%
EPS growth (YoY) +27.4%
Balance sheet & cash flow
Free cash flow ₹42.3B FY2025
Net cash ₹9.0B FY2025

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 73 · Market factors (momentum, volatility) 71

Profitability 93
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Nestlé India Limited engages in the manufacture and sale of food products in India and internationally. The company provides milk products and nutrition, including dairy whitener, condensed milk, UHT milk, yogurt, maternal and infant formula, baby foods, health care nutrition; prepared dishes and cooking aids, such as noodles, sauces, seasonings, pasta, …

Full company description

Nestlé India Limited engages in the manufacture and sale of food products in India and internationally. The company provides milk products and nutrition, including dairy whitener, condensed milk, UHT milk, yogurt, maternal and infant formula, baby foods, health care nutrition; prepared dishes and cooking aids, such as noodles, sauces, seasonings, pasta, cereals, and pet foods; powdered and liquid beverages comprising instant coffee and tea, as well as ready to drink beverages; and confectionery products consisting of bar countlines, tablets, and sugar confectionery products. The company was incorporated in 1959 and is headquartered in Gurugram, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nestle India Limited reported revenue of ₹232B in FY2025 versus ₹147B in FY2021, a compound +12.1%/yr. Reported net income was ₹35.0B in FY2025, compounding +13.4%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
₹232B
Latest YoY
+15.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.3%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.7%
Avg. revenue growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.8%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+11.6% (10.6 + 1.0)
Revenue +12.1%/yr
FY21 ₹147B
FY22 ₹168B
FY23 ₹195B
FY24 ₹201B
FY25 ₹232B
Net income +13.4%/yr
FY21 ₹21.2B
FY22 ₹23.9B
FY23 ₹32.0B
FY24 ₹32.1B
FY25 ₹35.0B
Character of growth · EPS growth decomposed (2014-2025) +15.3 % p.a.
Revenue per share +9.8 %

of which total revenue +9.8 % · buybacks/dilution +0.0 %

EBIT margin +2.1 %
Tax rate +1.4 %
Residual (interest, one-offs) +1.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

NESTLEIND screens 289% overvalued. Compare with Danone S.A →

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Cite: Fair Value Calculator (2026). "Nestle India Limited Fair Value". https://www.fairvalue-calculator.com/stock/NESTLEIND

Peer Group

Packaged Foods · 648 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 72 · Top 25%
Fair Value upside −74% · Bottom 25%
Return on equity (TTM) 76% · Top 25%
Return on assets 23% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth 23% · Top 25%
Dividend yield (TTM) 1.0% · Bottom 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 78.0× · Pricier than 75% of peers
P/S (TTM) 11.91× · Pricier than 75% of peers
P/FCF 0.7× · Cheaper than median
EV/EBITDA 53.1× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 25
FUTURE100 · sector 21
PAST100 · sector 28
HEALTH100 · sector 96
DIVIDEND20 · sector 53

VALUE 0: the price sits above our fair-value range.

Insider activity: 35/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $40.44 $28.32 −30%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%
McCormick & Company MKCV $55.65 $43.29 −22%

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Frequently asked questions

Is Nestle India Limited (NESTLEIND) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of ₹362.37 versus a price of ₹1,411, about −74% upside (overvalued).
What is the fair value of NESTLEIND?
Our model-based fair value for Nestle India Limited is ₹362.37 (as of Sep 5, 2026), built from audited fundamentals. The current price: ₹1,411.
What is the quality score of NESTLEIND?
Nestle India Limited has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Nestle India Limited (NESTLEIND)?
Nestle India Limited reported trailing-twelve-month revenue of about ₹231B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of NESTLEIND?
The net profit margin of Nestle India Limited is about 15.1%, meaning it keeps roughly 15.1% of revenue as net income. Based on the latest reported figures.
Does Nestle India Limited pay a dividend?
Nestle India Limited currently shows a dividend yield of about 0.99% relative to its recent price (as of Sep 5, 2026).
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