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Buy Nestle India; target of Rs 19,995: Geojit

Geojit is bullish on Nestle India has recommended buy rating on the stock with a target price of Rs 19,995 in its research report dated February 23, 2022.

February 23, 2022 / 06:58 PM IST
 
 
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Geojit's research report on Nestle India


Nestle India Ltd., a subsidiary of Nestle S.A., is a food processing company, primarily into manufacturing of milk products and other food products such as beverages and cereals. Revenue grew 10.2% to Rs. 14,709cr in CY21, due to domestic sales which accounted for 95% of total revenue. Domestic sales growth is largely driven by increased volume and mix. Also, strong growth momentum in key brands supported revenue. EBITDA margin rose 60bps YoY to 23.2%. PAT for Q4CY21 was at Rs. 387cr, a YoY decline of 20.0%. The company’s diversified product portfolio and enhanced distribution network will continue to drive revenue. This along with increasing focus on e-commerce and new initiatives will enhance product penetration.



Outlook


We reiterate our BUY rating on the stock with a revised target price of Rs. 19,995 based on 60x CY23E adj. EPS.

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At 17:30 Nestle India was quoting at Rs 17,949.45, down Rs 141.85, or 0.78 percent.


It has touched an intraday high of Rs 18,265.50 and an intraday low of Rs 17,865.00.


It was trading with volumes of 1,182 shares, compared to its thirty day average of 2,213 shares, a decrease of -46.59 percent.


In the previous trading session, the share closed up 0.00 percent or Rs 0.85 at Rs 18,091.30.


The share touched its 52-week high Rs 20,599.95 and 52-week low Rs 15,900.00 on 14 September, 2021 and 24 February, 2021, respectively.


Currently, it is trading 12.99 percent below its 52-week high and 12.73 percent above its 52-week low.


Market capitalisation stands at Rs 173,060.91 crore.


For all recommendations report, click here


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first published: Feb 23, 2022 06:58 pm
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