Nestle India Ltd.
NESTLEINDFast Moving Consumer Goods filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
4 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 4 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20230222 | 2022-12-31 | yes | |
| ANALYST_MEET | 20231031 | 2023-09-30 | yes | |
| ANALYST_MEET | 20250207 | 2024-12-31 | yes | |
| ANALYST_MEET | 20260807 | 2026-06-30 | yes |
NESTLEIND
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 1,351.00 |
| 52-week range | 1152.5 – 1540.0 |
| Return 1M | -8.65% |
| Return 3M | -3.68% |
| Return 1Y | 14.63% |
| Return 3Y | 19.35% |
| Return 5Y | 36.02% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 6,378.00 |
| Other income | 22.00 |
| Total income | 6,401.00 |
| Cost of materials consumed | 2,687.00 |
| Purchases of stock-in-trade | 202.00 |
| Changes in inventories | -162.00 |
| Employee benefit expense | 571.00 |
| Finance costs | 42.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.63 | 0.00 |
| institutions foreign | 0.10 | 0.01 |
| institutions domestic | 0.12 | -0.00 |
| mutual funds | 0.04 | -0.00 |
| public | 0.37 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2026-06-30 | 3 |
| TRANSCRIPT | 2022-12-31 | 1 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,104.00 | 4,780.00 | 5,504.00 | 5,096.00 | 5,644.00 | 5,667.00 | 6,748.00 | 6,378.00 |
| Other income | 7.00 | 4.00 | 8.00 | 4.00 | 2.00 | 12.00 | 18.00 | 22.00 |
| Total income | 5,111.00 | 4,784.00 | 5,512.00 | 5,100.00 | 5,645.00 | 5,679.00 | 6,766.00 | 6,401.00 |
| Cost of materials consumed | 2,025.00 | 2,076.00 | 2,346.00 | 2,153.00 | 2,402.00 | 2,465.00 | 2,812.00 | 2,687.00 |
| Purchases of stock-in-trade | 105.00 | 122.00 | 166.00 | 179.00 | 162.00 | 157.00 | 200.00 | 202.00 |
| Changes in inventories | 83.00 | -113.00 | -99.00 | -47.00 | 14.00 | -112.00 | -22.00 | -162.00 |
| Employee benefit expense | 502.00 | 495.00 | 522.00 | 516.00 | 537.00 | 591.00 | 519.00 | 571.00 |
| Finance costs | 32.00 | 35.00 | 38.00 | 47.00 | 46.00 | 28.00 | 37.00 | 42.00 |
| Depreciation and amortisation | 122.00 | 133.00 | 155.00 | 157.00 | 163.00 | 174.00 | 205.00 | 188.00 |
| Other expenses | 1,221.00 | 1,116.00 | 1,180.00 | 1,195.00 | 1,292.00 | 1,365.00 | 1,467.00 | 1,542.00 |
| Total expenses | 4,090.00 | 3,862.00 | 4,308.00 | 4,200.00 | 4,617.00 | 4,668.00 | 5,217.00 | 5,070.00 |
| Profit before exceptional items and tax | 1,021.00 | 922.00 | 1,205.00 | 900.00 | 1,029.00 | 1,011.00 | 1,549.00 | 1,331.00 |
| Exceptional items | 183.00 | 0.00 | 0.00 | 0.00 | 0.00 | 157.00 | -36.00 | -6.00 |
| Profit before tax | 1,204.00 | 922.00 | 1,205.00 | 900.00 | 1,029.00 | 1,168.00 | 1,513.00 | 1,324.00 |
| Current tax | 315.00 | 221.00 | 300.00 | 234.00 | 265.00 | 142.00 | 390.00 | 356.00 |
| Deferred tax | -14.00 | 5.00 | 19.00 | 7.00 | 10.00 | 8.00 | 9.00 | -7.00 |
| Tax expense | 301.00 | 226.00 | 319.00 | 241.00 | 275.00 | 150.00 | 398.00 | 349.00 |
| Profit for the period | 899.00 | 688.00 | 873.00 | 647.00 | 743.00 | 998.00 | 1,111.00 | 959.00 |
| Profit attributable to owners | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 0.00 | -101.00 | 20.00 | -1.00 | -0.00 | -23.00 | -14.00 | 2.00 |
| Total comprehensive income | 900.00 | 587.00 | 894.00 | 646.00 | 743.00 | 976.00 | 1,097.00 | 961.00 |
| Earnings per share, basic | 9.33 | 7.14 | 9.06 | 6.71 | 3.86 | 5.17 | 5.76 | 4.97 |
| Earnings per share, diluted | 9.33 | 7.14 | 9.06 | 6.71 | 3.86 | 5.17 | 5.76 | 4.97 |
Annual results, as filed
| Line | 2025-03-31 | 2026-03-31 |
|---|---|---|
| Revenue from operations | 20,202.00 | 23,155.00 |
| Other income | 59.00 | 40.00 |
| Total income | 20,260.00 | 23,195.00 |
| Cost of materials consumed | 8,390.00 | 9,814.00 |
| Purchases of stock-in-trade | 499.00 | 695.00 |
| Changes in inventories | -140.00 | -168.00 |
| Employee benefit expense | 2,024.00 | 2,166.00 |
| Finance costs | 136.00 | 158.00 |
| Depreciation and amortisation | 540.00 | 699.00 |
| Other expenses | 4,654.00 | 5,341.00 |
| Total expenses | 16,104.00 | 18,706.00 |
| Profit before exceptional items and tax | 4,157.00 | 4,489.00 |
| Exceptional items | 183.00 | 121.00 |
| Profit before tax | 4,340.00 | 4,610.00 |
| Current tax | 1,095.00 | 1,031.00 |
| Deferred tax | 13.00 | 34.00 |
| Tax expense | 1,109.00 | 1,065.00 |
| Profit for the period | 3,208.00 | 3,499.00 |
| Profit attributable to owners | 0.00 | 0.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 |
| Other comprehensive income | -80.00 | -38.00 |
| Total comprehensive income | 3,128.00 | 3,461.00 |
| Earnings per share, basic | 33.27 | 18.15 |
| Earnings per share, diluted | 33.27 | 18.15 |
Balance sheet, as filed
| Line | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|
| Total assets | 10,997.00 | 12,193.00 | 12,092.00 | 13,182.00 |
| Non-current assets | 8,139.00 | 8,459.00 | 8,625.00 | 8,592.00 |
| Current assets | 2,858.00 | 3,734.00 | 3,467.00 | 4,590.00 |
| Property, plant and equipment | 3,925.00 | 5,474.00 | 5,819.00 | 6,290.00 |
| Capital work-in-progress | 2,340.00 | 1,173.00 | 929.00 | 507.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 1,861.00 | 2,850.00 | 2,490.00 | 2,569.00 |
| Trade receivables | 341.00 | 363.00 | 321.00 | 329.00 |
| Cash and cash equivalents | 123.00 | 76.00 | 346.00 | 1,321.00 |
| Total equity and liabilities | 10,997.00 | 12,193.00 | 12,092.00 | 13,182.00 |
| Equity | 3,903.00 | 4,010.00 | 4,434.00 | 5,157.00 |
| Equity share capital | 96.00 | 96.00 | 193.00 | 193.00 |
| Other equity | 3,807.00 | 3,914.00 | 4,242.00 | 4,964.00 |
| Total liabilities | 7,093.00 | 8,183.00 | 7,658.00 | 8,026.00 |
| Non-current liabilities | 3,307.00 | 3,498.00 | 3,597.00 | 3,264.00 |
| Current liabilities | 3,786.00 | 4,685.00 | 4,061.00 | 4,761.00 |
| Borrowings, non-current | 25.00 | 22.00 | 23.00 | 20.00 |
| Borrowings, current | 5.00 | 731.00 | 48.00 | 4.00 |
| Trade payables | 2,061.00 | 2,374.00 | 2,301.00 | 2,967.00 |
Cash flow, as filed
| Line | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|
| Net cash from operating activities | 1,683.00 | 2,936.00 | 2,314.00 | 5,048.00 |
| Net cash from investing activities | -1,224.00 | -1,811.00 | -326.00 | -624.00 |
| Net cash from financing activities | -1,135.00 | -1,848.00 | -1,719.00 | -3,179.00 |
| Purchase of property, plant and equipment | 1,282.00 | 2,009.00 | 0.00 | 830.00 |
| Net increase in cash | -676.00 | -723.00 | 269.00 | 1,244.00 |
| con:CFO.BEFORE_TAX | 2,118.00 | 3,961.00 | 2,718.00 | 6,119.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 435.00 | 1,024.00 | 404.00 | 1,071.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 3.00 | 4.00 | 0.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 300.00 | 266.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-08-01 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-08-11 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 62.76 | 62.76 | 62.76 | 62.76 | 62.76 | 62.76 | 62.76 | 62.76 | 62.76 | 62.76 | 0.63 | 0.63 | 0.63 | 0.63 |
| Domestic institutions | 9.05 | 9.32 | 9.19 | 9.04 | 9.22 | 9.49 | 10.80 | 11.31 | 11.18 | 11.44 | 0.12 | 0.12 | 0.12 | 0.12 |
| Mutual funds | — | — | — | — | — | — | — | — | 3.86 | 3.94 | 0.04 | 0.04 | 0.04 | 0.04 |
| Insurance companies | 3.38 | 3.54 | 3.52 | 3.81 | 4.05 | 4.28 | 5.64 | 6.16 | 6.60 | 6.75 | 0.07 | 0.07 | 0.07 | 0.07 |
| Foreign institutions | 12.38 | 12.10 | 12.09 | 12.10 | 11.94 | 11.94 | 10.26 | 10.01 | 10.29 | 10.02 | 0.10 | 0.10 | 0.10 | 0.10 |
| Government | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 37.24 | 37.24 | 37.24 | 37.24 | 37.24 | 37.24 | 37.24 | 37.24 | 37.24 | 37.24 | 0.37 | 0.37 | 0.37 | 0.37 |
| Non-institutional | 15.81 | 15.81 | 15.95 | 16.09 | 16.07 | 15.81 | 16.17 | 15.91 | 15.77 | 15.78 | 0.16 | 0.15 | 0.15 | 0.15 |
| Shares outstanding | 96415716 | 96415716 | 96415716 | 964157160 | 964157160 | 964157160 | 964157160 | 964157160 | 964157160 | 1928314320 | 1928314320 | 1928314320 | 1928314320 | 1928314320 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Société des Produits Nestlé S.A. | Fellow subsidiaries | Purchase of goods or services | 4,443,700,000.00 | 1 |
| Nestlé S.A | Holding Company | Dividend paid | 3,553,030,000.00 | 1 |
| Maggi Enterprises Limited | Holding Comapany | Dividend paid | 2,952,350,000.00 | 1 |
| Apollo Healthco Limited | Entities Controlled by Key Managem | Sale of goods or services | 2,479,810,000.00 | 1 |
| Dr. Reddy's And Nestle Health Science | Joint venture | Any other transaction, Sale of goods or services | 2,345,140,000.00 | 2 |
| NESTLE ENTERPRISES SA | Fellow subsidiaries | Sale of goods or services | 1,917,680,000.00 | 1 |
| Nestle Business Services India Private Limited | Fellow subsidiaries | Any other transaction, Purchase of goods or services | 1,008,000,000.00 | 2 |
| Nestlé Enterprises SA | Fellow subsidiaries | Purchase of goods or services | 851,400,000.00 | 1 |
| Nestlé Australia Ltd | Fellow subsidiaries | Purchase of goods or services | 657,950,000.00 | 1 |
| Nestlé Lanka PLC | Fellow subsidiaries | Purchase of goods or services | 522,560,000.00 | 1 |
| Nestlé India Limited Employees Provident Fund Trust | Employee Related Trusts | Any other transaction | 308,000,000.00 | 1 |
| Others | Fellow subsidiaries | Purchase of goods or services, Sale of goods or serv | 262,830,000.00 | 2 |
| Nestlé Bangladesh Ltd. | Fellow subsidiaries | Sale of goods or services | 178,850,000.00 | 1 |
| Executive Directors Remuneration (Total) | Key management personnel of entity | Remuneration | 154,630,000.00 | 1 |
| Nestlé Operational Services Worldwide S.A. | Fellow subsidiaries | Sale of goods or services | 79,990,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-07 | Q1FY27 | Relations | Read the call |
| 2025-02-07 | Q3FY25 | Compliance Officer | Read the call |
| 2023-10-31 | Q2FY24 | Read the call | |
| 2023-02-22 | Q3FY23 | Read the call |
What they said about it, quarter by quarter
| Topic | Q1FY27 | Q2FY24 | Q3FY23 | Q3FY25 |
|---|---|---|---|---|
| Capex | So very, very excited about our hypothesis of increased investment playing out to support our brand growth and to do all of this it is very, very impo… | — | In fact, we are aware and seized of the opportunity and if you look at the forthcoming capex, the two big areas where big investments are being put up… | There has been significant investment in India and at a time when people have been talking about capex, I think this is a company that has put its mon… |
| Capital allocation | — | — | They are looking at financial services, HR, business services, procurement support services, talent acquisition services, tax support services and cus… | — |
| Costs | Now to drive all this, some of the innovations, some of the R&D strength we spoke about, what is really, really important is do we have the right cost… | Sharp saving program which is the cost effectiveness program that is delivered anywhere between 1% to 1.5%, or roughly INR1.5 billion to INR2 billion … | I was just wondering how do you keep your employee motivated with 2% and 7% kind of employee cost in last two years’ inflation? | — |
| Debt and cash | — | — | — | If you look at the combination of stock price appreciation, dividends put together which is the total shareholder return up by 314% in 2015 to 2023, 1… |
| Demand | — | And there are at least 10 new important projects which are in the pipeline, which is something that will be out between this year and next year to rea… | Taking a few risks and the other one is a more calibrated response by looking at the portfolio, the strategy of the portfolio, the premiumization oppo… | So we know the demand and off-take patterns. |
| Guidance | Sure, and just to double check your comment on near-term outlook, this was more a caution from a macro perspective, but you believe, considering the p… | Can we expect a similar run rate or higher, lower, because you will have now line selling and productivity improvements and more digitization, etc. Is… | Well, you can nudge me whichever way you want to, I will never give you guidance for the future. | So, from here on, should we anticipate that you will focus more on throughput in these newly acquired outlets and probably, expand more products rathe… |
| Margin | So, all of this put together and a disciplined capital deployment model and margin management, I Nestlé India Limited August 4, 2026 believe these are… | Or you still feel there are certain areas where you will have to take significant pricing to still mitigate some of the margin pressure? | Secondly, the small packs are not necessarily the best margin packs. | If you look at it in terms of EBITDA, it is about the same. |
| People | — | It was one of necessity, but it translated also into a very efficient system, better payload utilization, LNG fleet reducing CO2 emissions and higher … | But we have our internal measures of brand performance, brand salience, brand equity, brand of choice etc. and also capacity utilization. | For us, astute buying, because we have economies of scale, material usage improvements through specifications and more effective or more efficient uti… |
| Pricing | I think the execution which the team did across the millions of outlets across changing all the packmat, pricing, weight, I think that was flawless. | So issues of pricing, coinage, INR5.95 paisa, INR4.75 paisa getting out gradually. | Potential uncertainties and risks include but are not limited to factors such as change in general economic, political, or market conditions, commodit… | Potential uncertainties and risks include but are not limited to factors such as changes in general economic, political or market conditions, commodit… |
| Revenue growth | My first question was on revenue growth outlook. | — | In fact, positively on a margin accretive basis and upgrading has happened to the single packs and to the multi-packs and that is really helping the l… | Today the growth of this portfolio is about 16% on a CAGR basis since 2015. |