Reduce Nestle India, target price Rs 20000: HDFC Securities

HDFC Securities has reduce call on Nestle India with a target price of Rs 20000. The current market price of Nestle India Ltd. is Rs 24629.8.

Nestle India Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 237390.92 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-2022.



Financials
For the quarter ended 30-06-2023, the company reported a Standalone Total Income of Rs 4682.48 Crore, down -3.74 % from last quarter Total Income of Rs 4864.22 Crore and up 15.45 % from last year same quarter Total Income of Rs 4055.94 Crore. Company reported net profit after tax of Rs 698.34 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 62.76 per cent stake in the company as of 30-Sep-2023, while FIIs owned 12.1 per cent, DIIs 9.28 per cent.