NESTLEIND · Food Processing · INE239A01024
Analyst mean 2.57 · 35 analysts · 96% bullishWhat the numbers mean when read together — computed from the filings, not a score.
Operating cash flow is 131% of trailing profit — the earnings are converting to cash, not just accruals.
Last operating cash flow ₹5,048 cr against trailing net profit ₹3,860 cr. A ratio at or above ~0.9 means reported profit is showing up as real cash.
Both revenue and profit grew over the last year (19.3% and 19.7%) — growth is translating to the bottom line.
Trailing revenue ₹24,437 cr, trailing profit ₹3,860 cr. Profit growing at least as fast as revenue indicates operating leverage or pricing power.
Net margin improved from 12.9% to 15.3% year-on-year — the business is keeping more of each rupee.
Quarter net margin 15.3% vs 12.9% four quarters earlier. Expansion from operating leverage is healthy; verify it is not a one-off gain.
Free cash flow is positive and consistent — the business funds itself after capex.
Latest free cash flow ₹4,221 cr. Negative in only 0 of 12 years. A self-funding business needs less external capital and dilutes less.
Borrowings rose 29% over two years while the company also carries ₹706 cr in investments. Why borrow at interest while parking money elsewhere is a fair question.
Borrowings moved to ₹444 cr from ₹345 cr. Simultaneous large investments can be legitimate treasury management, or a sign that reported cash is not freely available.
Markers show corporate actions (splits, bonus, dividends). Prices are split-adjusted so the series is continuous.
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,104 | 4,780 | 5,504 | 5,096 | 5,644 | 5,667 | 6,748 | 6,378 |
| Expenses | 3,936 | 3,677 | 4,116 | 3,996 | 4,407 | 4,466 | 4,976 | 4,840 |
| Other Income | 298 | 4 | 9 | 4 | 2 | 170 | -18 | 16 |
| Depreciation | 122 | 150 | 155 | 157 | 163 | 174 | 205 | 188 |
| Profit before tax | 1,312 | 922 | 1,205 | 900 | 1,029 | 1,168 | 1,513 | 1,324 |
| Net Profit | 986 | 696 | 885 | 659 | 753 | 1,018 | 1,114 | 975 |
| EPS | 5.12 | 3.61 | 4.59 | 3.42 | 3.91 | 5.28 | 5.78 | 5.06 |
| Item | Dec 2021 | Dec 2022 | Dec 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 96 | 96 | 96 | 96 | 96 | 193 |
| Reserves | 1,850 | 2,363 | 2,363 | 3,244 | 4,021 | 5,116 |
| Borrowings | 266 | 271 | 271 | 345 | 1,167 | 444 |
| Fixed Assets | 2,995 | 3,044 | 3,044 | 3,460 | 5,474 | 6,290 |
| CWIP | 246 | 358 | 358 | 1,742 | 1,173 | 507 |
| Investments | 774 | 778 | 778 | 464 | 706 | 706 |
| Total Assets | 8,234 | 8,979 | 8,979 | 10,523 | 12,324 | 13,357 |