The company board recommended final dividend for the year 2019 of Rs 61 per equity shares of Rs 10 each.
Nestle India share price touched 52-week high of Rs 16,753.45, rising 2 percent in the early trade on February 14 as the company reported better numbers for the quarter ended December 2019.
The company’s Q4 net profit jumped 38.4 percent to Rs 473 crore against Rs 341.8 crore, while revenue rose 8.7 percent to Rs 3,149.3 crore versus Rs 2,897.3 crore, YoY.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 23.1 percent at Rs 677.9 crore against Rs 550.6 crore and EBITDA margin was up 250 bps at 21.5 percent versus 19 percent, YoY.
The company board recommended a final dividend for the year 2019 of Rs 61 per equity shares of Rs 10 each.
Kotak Institutional Equities has maintained sell rating on the stock with a target at Rs 14,000 per share.
The Q4 domestic YoY revenue growth print of 10 percent is ahead of peers, while EBITDA & pre-contingency profit miss the estimate by 9% & 13%, respectively.
Growth potential and revived execution engine priced in valuations, it added.At 09:40 hrs Nestle India was quoting at Rs 16,471.90, up Rs 54.10, or 0.33 percent on the BSE.
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