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Nestlé India Limited (NESTLEIND) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹2.9T (≈ $30.2B) · ISIN INE239A01024

What is Nestlé India Limited really worth?

NI Nestlé India Limited NESTLEIND · BSE
Price₹1,420
Fair Value₹251.94
Upside−82.3%
Quality54/100

A solid business, but trading 464% above our fair value of ₹251.94.

As of Aug 22, 2026, the fair value of Nestlé India Limited is ₹251.94 per share against a price of ₹1,420, so the fair value sits 82% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Solidly profitable · 14.9% net margin
Low debt · generates free cash flow
Wide moat 86/100

Risks

!Mixed Growth (revenue 5y +10.3 %/yr)
!Evidence only low, so the estimate is less certain
!The models disagree: range ₹133.34 to ₹436.65

For context

·0.94% dividend yield
Evidence: Low Range ₹133.34 – ₹436.65

Fair value as of: Aug 22, 2026

From 23 valuation models · updated 15 days ago

Share price −6.6% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (₹436.65). The favourable scenario is already priced in.
  • The model range is unusually wide (₹133.34 to ₹436.65). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹1,540 ₹777.95 Fair Value ₹251.94 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range ₹777.95 – ₹1,540 · fair‑value band ₹133.34 – ₹436.65 · the ₹1,420 price screens above the ₹251.94 fair value. Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Nestlé India Limited (NESTLEIND) currently trades at ₹1,420, while our model-based Fair Value estimate is ₹251.94, implying the stock looks roughly 463.7% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of ₹283.63 per share, and 0 of the 23 models we run sit above the ₹1,420 price. Bear case: the Growth DCF group reads lowest at ₹113.99, and 23 of the 23 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Nestlé India Limited generated revenue of ₹219B at a net margin of 14.9%. Revenue grew 18.6% year over year. It earns a return on equity of 70.8%. The stock trades on a trailing P/E of 83.9. Fundamentals as of Aug 22, 2026

Our scenario range runs from ₹133.34 (bear case) to ₹436.65 (bull case); at ₹1,420, 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 9% below its 52-week high and 25% 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 −82%, NESTLEIND screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2024 figures, and about 12 months have passed since. In that time the company retained roughly ₹3.56 per share, which is 1.0 % 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 (₹13.93 to ₹453.78). 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 best evidence ₹68.64 ₹114.92 ₹194.94 78
Growth DCF ₹69.03 ₹113.99 ₹192.14 76
EPV ₹203.38 ₹238.11 ₹268.98 74
All 23 models by family
DCF Models
FCF DCF best evidence ₹68.64 ₹114.92 ₹194.94 78
5Y Revenue Exit ₹99.10 ₹173.75 ₹274.08 71
5Y EBITDA Exit ₹193.86 ₹361.64 ₹569.35 73
5Y P/E Exit ₹189.07 ₹352.14 ₹534.64 69
10Y Revenue Exit ₹84.75 ₹152.80 ₹254.33 65
10Y EBITDA Exit ₹151.74 ₹290.60 ₹497.92 66
10Y P/E Exit ₹148.54 ₹283.63 ₹469.29 62
Earnings-Based
Graham-Dodd ₹113.11 ₹453.78 ₹616.99 64
Lynch FV ₹112.95 ₹161.35 ₹209.76 61
PEG = 1.0 ₹112.95 ₹161.35 ₹209.76 57
EPV ₹203.38 ₹238.11 ₹268.98 74
Multiples
P/E Multiple ₹261.99 ₹349.32 ₹436.65 63
P/S Multiple ₹124.94 ₹166.59 ₹208.24 58
P/B Multiple ₹85.79 ₹114.38 ₹142.98 55
EV/EBIT ₹314.72 ₹417.43 ₹520.14 66
EV/EBITDA ₹276.30 ₹366.21 ₹456.11 67
EV/Revenue ₹115.92 ₹162.77 ₹209.63 54
Asset-Based
NCAV (Graham) ₹10.40 ₹13.93 ₹20.80 54
Growth DCF
Growth DCF ₹69.03 ₹113.99 ₹192.14 76
Rev-Margin DCF ₹99.10 ₹171.53 ₹260.67 71
Economic Profit
Residual Income ₹130.00 ₹229.68 ₹6,243 64
ROIC Compounder ₹209.77 ₹253.39 ₹297.93 72
Growth Earnings
Growth-Adj P/E ₹198.10 ₹283.01 ₹367.91 67

Widest divergence: DCF Models (₹283.63) versus Asset-Based (₹13.93). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 83.9
P/S ratio 13.4 P/E × margin
EPS (TTM) ₹16.93 price ÷ EPS = P/E 83.9
Dividend yield 0.9% payout 79.0%
Net margin 16.0% FY2024
Return on equity 70.8% TTM
More key figures
Profitability
Return on assets (EBIT) 37.5% avg 3y
Operating margin 18.1% TTM
Growth
Revenue (TTM) ₹219B TTM
Revenue growth (YoY) +18.6% 3y avg +11.1%
EPS growth (YoY) +44.8%
Balance sheet & cash flow
Free cash flow ₹9.3B FY2024

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 55 · Market factors (momentum, volatility) 70

Profitability 94
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 63
Distance to the 52-week high (market factor)
Net Issuance 0
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 manufactures and sells food products in India and internationally. It provides milk products and nutrition, including dairy whitener, condensed and UHT milk, yoghurt, maternal and infant formula, baby food, and health care nutrition products; powdered and liquid beverages comprising instant coffee and tea, as well as ready to drink …

Full company description

Nestlé India Limited manufactures and sells food products in India and internationally. It provides milk products and nutrition, including dairy whitener, condensed and UHT milk, yoghurt, maternal and infant formula, baby food, and health care nutrition products; powdered and liquid beverages comprising instant coffee and tea, as well as ready to drink beverages; prepared dishes and cooking aids, such as noodles, sauces, seasonings, pasta, cereals, and pet foods; 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

FY2020 – FY2024 · reported fiscal years

Nestlé India Limited reported revenue of ₹201B in FY2024 versus ₹133B in FY2020, a compound +10.9%/yr. Reported net income was ₹32.1B in FY2024, compounding +11.4%/yr from FY2020.

Growth Quality 64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
₹201B
Latest YoY
+7.5%
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.
+11.1%
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.
+10.3%
Avg. revenue growth/yr (11Y) 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.
+7.5%
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.
−29.5% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−30.4%
Dividend yield0.9%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.21.0% (2019) → 21.3% (2024) · steady
Worst earnings drop87% (2024) · in INR
Revenue +10.9%/yr
FY20 ₹133B
FY21 ₹146B
FY22 ₹168B
FY23 ₹187B
FY24 ₹201B
Net income +11.4%/yr
FY20 ₹20.8B
FY21 ₹21.4B
FY22 ₹23.9B
FY23 ₹29.7B
FY24 ₹32.1B

NESTLEIND screens 464% overvalued. Compare with Danone S.A →

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

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 54 · Below median
Fair Value upside −74% · Bottom 25%
Return on equity (TTM) 71% · Top 25%
Return on assets 23% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 19% · Top 25%
Dividend yield (TTM) 0.9% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 83.9× · Pricier than 75% of peers
P/S (TTM) 13.04× · Pricier than 75% of peers
P/FCF 3.3× · Pricier than median
EV/EBITDA 59.8× · Pricier than 75% of peers
PEG 2.14× · Pricier than median

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 Aug 22, 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 $24.85 $24.59 −1%
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 $38.29 $28.32 −26%
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 Nestlé India Limited (NESTLEIND) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of ₹251.94 versus a price of ₹1,420, about −82% upside (overvalued).
What is the fair value of NESTLEIND?
Our model-based fair value for Nestlé India Limited is ₹251.94 (as of Aug 22, 2026), built from audited fundamentals. The current price: ₹1,420.
What is the quality score of NESTLEIND?
Nestlé India Limited has a Quality Score of 54/100. 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 price target for Nestlé India Limited (NESTLEIND)?
Our model-based price target is the fair value of ₹251.94 (as of Aug 22, 2026) from 23 valuation models. Cautious scenario ₹133.34, optimistic scenario ₹436.65. It is a calculation from audited fundamentals, not an analyst target.
What is the Nestlé India Limited stock forecast for 2026?
Our models put fair value at ₹251.94, about −82% upside versus a price of ₹1,420 (overvalued). Cautious scenario ₹133.34, optimistic scenario ₹436.65. The calculation is refreshed regularly with new filings.
What is the revenue of Nestlé India Limited (NESTLEIND)?
Nestlé India Limited reported trailing-twelve-month revenue of about ₹219B (latest available figure, as of Aug 22, 2026).
What is the net profit margin of NESTLEIND?
The net profit margin of Nestlé India Limited is about 14.9%, meaning it keeps roughly 14.9% 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 0.94% relative to its recent price (as of Aug 22, 2026).
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