Nestlé India Limited

BOM:NESTLEINDConsumer Defensive

——At close · Market cap — · Next earnings Thu 28 Jan

INR billions	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026	YoY
Revenue	132.9	146.6	167.9	194.6	200.8	231.5	+15.3%
Cost of revenue	57.8	64.8	79.0	115.8	89.5	132.1	+47.6%
Gross profit	75.1	81.8	88.9	78.9	111.3	99.5	−10.6%
Research & development	0.5	0.6	0.7	0.3	1.0	0.4	−61.5%
Selling, general & administrative	24.8	25.4	24.9	35.2	32.2	35.6	+10.5%
Selling & marketing	0.0	0.0	0.0	0.0	0.0	13.0	—
Operating expenses	46.8	50.1	55.5	36.5	68.6	53.4	−22.1%
Operating income	28.3	31.7	33.5	42.4	42.7	46.1	+7.9%
Interest expense	1.6	0.5	1.5	0.5	0.7	1.6	+118.1%
Interest income	1.4	1.2	1.0	1.2	0.6	0.4	−39.8%
Other income / expense	(0.2)	(3.2)	(0.9)	(0.1)	0.5	(0.4)	−188.3%
Pre-tax income	28.1	28.6	32.6	42.3	43.2	45.6	+5.7%
Income tax	7.3	7.4	8.7	10.8	11.1	10.7	−3.9%
Net income	20.8	21.2	23.9	32.0	32.1	35.0	+9.1%
Discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	—
Other net income adjustments	0.0	0.0	0.0	0.0	0.0	0.0	—
EPS, basic (per share)	10.80	10.99	12.40	16.58	16.63	18.15	+9.1%
EPS, diluted (per share)	10.80	10.99	12.40	16.58	16.63	18.15	+9.1%
EBITDA	33.5	34.5	38.1	47.1	49.9	53.1	+6.3%
Depreciation & amortization	3.7	3.9	4.0	4.3	5.4	7.0	+29.5%
Weighted average shares (shares)	1,928,314,000	1,928,314,000	1,928,314,000	1,928,314,000	1,928,314,000	1,927,868,000	−0.0%
Weighted average diluted shares (shares)	1,928,314,000	1,928,314,000	1,928,314,000	1,928,314,000	1,928,314,000	1,927,868,000	−0.0%
Gross margin	56.5%	55.8%	53.0%	40.5%	55.4%	43.0%	−12.5 pts
Operating margin	21.3%	21.6%	19.9%	21.8%	21.3%	19.9%	−1.4 pts
Net margin	15.7%	14.4%	14.2%	16.4%	16.0%	15.1%	−0.9 pts

INR billionsUpdated Tue 31 Mar ·

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Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.