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Nestlé India Limited (NESTLEIND) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹2.8T

NI Nestlé India Limited NESTLEIND · NSE
Price₹1,535
Fair Value₹362.37
Upside-76.4%
Quality76/100
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Healthy Growth
Solidly profitable · 15.1% net margin
Low debt · generates free cash flow
0.84% dividend yield
Ranks above peers (8/13)
Wide moat 84/100
Evidence: High Range ₹272.94 – ₹451.79 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 20 days ago

Share price +5.1% over the past month.

A strong business, but screening 76% overvalued on our models.

What matters now

  • A high-quality business (quality 76/100), 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.
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Price vs Fair Value (5 years)

₹1,535 ₹790.64 Fair Value ₹362.37 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range ₹790.64 – ₹1,535 · fair‑value band ₹272.94 – ₹451.79 · the ₹1,535 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 Jul 18, 2026.

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Analysis

Nestlé India Limited (NESTLEIND) currently trades at ₹1,535, while our model-based Fair Value estimate is ₹362.37, implying the stock looks roughly 76.4% overvalued today. We read business quality at 76/100 (high quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Nestlé 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 Jul 18, 2026

Our scenario range runs from ₹272.94 (bear case) to ₹451.79 (bull case); at ₹1,535, 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 near its 52-week high and 42% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 17% fair-value upside, at -76%, NESTLEIND screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ₹297.58 ₹517.69 ₹906.60 80
Residual Income ₹115.37 ₹150.30 ₹1,379 76
Rev-Margin DCF ₹239.60 ₹397.11 ₹595.79 74
All 26 models by family
DCF Models
FCF DCF ₹297.07 ₹527.63 ₹935.51 38
Owner Earnings ₹237.86 ₹421.38 ₹746.05 31
5Y Revenue Exit ₹239.60 ₹399.45 ₹612.16 39
5Y EBITDA Exit ₹266.77 ₹454.26 ₹684.54 41
5Y P/E Exit ₹269.22 ₹459.21 ₹671.69 38
10Y Revenue Exit ₹249.00 ₹407.92 ₹642.33 36
10Y EBITDA Exit ₹274.59 ₹448.50 ₹703.03 37
10Y P/E Exit ₹276.24 ₹452.17 ₹692.25 35
Earnings-Based
Graham-Dodd ₹123.39 ₹528.73 ₹722.37 54
Lynch FV ₹135.28 ₹193.25 ₹251.23 50
PEG = 1.0 ₹135.28 ₹193.25 ₹251.23 46
EPV ₹190.51 ₹222.92 ₹251.73 59
Dividend Discount
Gordon GGM ₹115.43 ₹252.00 ₹424.00 70
DDM Multi-Stage ₹115.43 ₹206.43 ₹262.62 61
Multiples
P/E Multiple ₹272.19 ₹362.92 ₹453.64 63
P/S Multiple ₹225.14 ₹300.19 ₹375.24 58
P/B Multiple ₹60.17 ₹80.23 ₹100.29 55
EV/EBIT ₹329.36 ₹436.87 ₹544.37 53
EV/EBITDA ₹275.12 ₹364.55 ₹453.98 54
EV/Revenue ₹216.97 ₹307.03 ₹397.09 43
Asset-Based
NCAV (Graham) ₹13.37 ₹17.92 ₹26.74 50
Growth DCF
Growth DCF ₹297.58 ₹517.69 ₹906.60 80
Rev-Margin DCF ₹239.60 ₹397.11 ₹595.79 74
Economic Profit
Residual Income ₹115.37 ₹150.30 ₹1,379 76
ROIC Compounder ₹199.96 ₹245.67 ₹295.02 72
Growth Earnings
Growth-Adj P/E ₹220.66 ₹315.23 ₹409.80 68

Widest divergence: DCF Models (₹448.50) versus Asset-Based (₹17.92). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹231B
Revenue growth (YoY) +23.0%
Net margin 15.1%
Return on equity 76.3%
Free cash flow ₹42.3B FY2025
P/E ratio 78.9
More key figures
Operating margin 23.0%
EPS (TTM) ₹18.08
Dividend yield 0.8%
EPS growth (YoY) +27.4%
Net cash ₹9.0B FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 73 · Market factors (momentum, volatility) 78

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 62
Price trend over the last 3–12 months (market factor)
52W Momentum 87
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.

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

Nestlé 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. growth/yr (3Y)
+11.3%
Avg. growth/yr (5Y)
+11.7%
Avg. growth/yr (21Y)
+11.8%
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

NESTLEIND screens 76% overvalued. Compare with Britannia Industries Limited →

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

Peer Group

Packaged Foods · 650 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 76 · Top 25%
Fair Value upside −76% · 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) 0.8% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 78.9× · 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

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.

VALUE 0 · sector 30
FUTURE 100 · sector 20
PAST 100 · sector 27
HEALTH 100 · sector 96
DIVIDEND 17 · sector 47

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%
PT Siantar Top Tbk, STTP 10,300 IDR 15,316 IDR +49%

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Frequently asked questions

Is Nestlé India Limited (NESTLEIND) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of ₹362.37 versus a price of ₹1,535, about −76% (overvalued).
What is the fair value of NESTLEIND?
Our model-based fair value for Nestlé India Limited is ₹362.37 (as of Jul 18, 2026), built from audited fundamentals. The current price is ₹1,535.
What is the quality score of NESTLEIND?
Nestlé India Limited has a Quality Score of 76/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Nestlé India Limited (NESTLEIND)?
Nestlé India Limited reported trailing-twelve-month revenue of about ₹231B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of NESTLEIND?
The net profit margin of Nestlé India Limited is about 15.1%, meaning it keeps roughly 15.1% of revenue as net income. Based on the latest reported figures.
Does Nestlé India Limited pay a dividend?
Nestlé India Limited currently shows a dividend yield of about 0.87% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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