Reduce Nestle India, target price Rs 16800: HDFC Securities

HDFC Securities has reduce call on Nestle India with a target price of Rs 16800. The current market price of Nestle India Ltd. is Rs 17117.4.
Time period given by analyst is one year when Nestle India Ltd. price can reach defined target.

Nestle India Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 165111.91 Crore) operating in FMCG sector.


Nestle India Ltd. key Products/Revenue Segments include Milk Products, Prepared Dishes & Cooking aids, Confectionery, Beverages (Powdered), Export Incentives, Other Operating Revenue for the year ending 31-Dec-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 4002.14 Crore, up 6.25 % from last quarter Total Income of Rs 3766.65 Crore and up 9.93 % from last year same quarter Total Income of Rs 3640.47 Crore. Company reported net profit after tax of Rs 594.71 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.76 per cent stake in the company as of 31-Mar-2022, while FIIs owned 12.01 per cent, DIIs 8.61 per cent.