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Motilal Oswal Report
Following Nestle India Ltd.'s robust Q1 FY27 performance, domestic brokerage firm Motilal Oswal has revised its target price to Rs 1,525 from earlier levels while maintaining a Neutral rating on the stock, citing expensive valuations and limited upside potential from current levels.
According to the brokerage, Nestle India continues to trade at elevated valuations of 68 times FY27E earnings per share and 60x FY28E EPS, which limits the scope for a more constructive stance despite strong operating momentum.
Nestle India Q1 FY26 Results Highlights
Nestle reported strong performance in Q1 FY27, with revenue growing 25% YoY (beat; 13% three-year CAGR) on a base of 6%.
Domestic revenue grew 25% YoY (vs estimate 19%), primarily driven by volume growth. GST-driven benefits continue to support volume growth (more sensitive for LUPs and serve-for-one products).
All four product groups delivered strong double-digit, volume-driven growth. The growth was equally balanced with high double-digit expansion across channels. Export revenue increased 36% YoY.
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