Quarter Ended: March 2026

Nestlé India Q4 FY26 – Results Analysis

NSE

nestleind

BSE

500790

Nestlé India reported a strong Q4 FY26 performance, supported by revenue growth, sharp profit expansion, margin improvement, stronger operating cash flow, and improved balance sheet liquidity.

Both quarterly and full-year results showed healthy execution, with profit growing faster than revenue, indicating operating leverage and earnings quality improvement.

key financial highlights

Revenue from Operations:
- Total Income (Q4 FY26): ₹67,477.9 million
  - QoQ Change: +19.08%
  - YoY Change: +22.60%
- Previous Quarter (Q3 FY26): ₹56,670.4 million
- Previous Year (Q4 FY25): ₹55,038.8 million
Profit After Tax (PAT):
- PAT (Q4 FY26): ₹11,109.0 million
  - QoQ Growth: +11.27%
  - YoY Growth: +27.19%
- Previous Quarter: ₹9,984.2 million
- Previous Year: ₹8,734.6 million

Margin Analysis

Positives

Revenue growth outpaced expense growth
Operating leverage improved
Inventory changes aided margin structure
Strong EBITDA growth

Segment insight

Financials indicate:

Strong consumer demand execution
Pricing / mix support
Strong operating efficiency
Mature high-cash-generation business model

Earning quality check

High Earnings Quality:

Profit growth appears strongly cash-backed

Supported By:

Strong operating cash flow
EBITDA growth
Higher profits
Improved liquidity

Interpretation:

High-quality earnings

balance sheet Analysis

Total Assets:

FY26: ₹131,824.9 million
FY25: ₹121,933.2 million
Growth: +8.11%

Equity:

FY26: ₹51,569.7 million
FY25: ₹40,102.1 million
Growth: +28.59%

Cash & Cash Equivalent:

FY26: ₹13,205.7 million
FY25: ₹761.8 million
Massive Increase

Borrowings:

FY26: ₹41.5 million
FY25: ₹7,308.6 million
Major positive signal

Balance Sheet Insight:

Higher equity
Lower borrowings
Higher liquidity

Cash flow analysis

Operating Cash Flow

FY26: ₹50,475.6 million
FY25: ₹29,345.3 million
Growth: +72%

Investing Cash Flow

Negative ₹6,236.8 million
Reflects:
- Normal capex/investment outflow

Financing Cash Flow

Positive ₹31,794.9 million
Reflects:
- Dividend payouts
- Debt reduction

Cash Position

Cash increased:
- FY26: ₹13,205.7 million
- FY25: ₹761.8 million

Indicates: Very strong liquidity improvement

key risks

Input Cost Volatility – Commodity risk remains
Valuation Risk – High-quality businesses often trade rich
Growth Moderation Risk – Consumer demand slowdown remains a macro risk

management strategy signals

Premiumization
Margin management
Cash generation
Capital discipline
Brand-led growth

Financial Metrics

Particular	Q4 FY26	Q.O.Q	Y.O.Y
Total Income	₹67,662.4 Million	+19.55%	+22.73%
PBT	₹15,093.8 Million	+31.31%	+26.60%
PAT	₹11,109 Million	+11.27%	+27.19%
EPS	₹5.77	+11.61%	+27.37%

Nestlé delivered:

Strong revenue growth
Strong PAT growth
Strong margins
Exceptional operating cash flow
Strong liquidity growth
Sharp reduction in borrowings

Official Exchange Filing: Nestlé India Limited

Quarterly Performance Context

COST OF OPERATIONS AS % OF REVENUE

77%

NET PROFIT AS % OF REVENUE

16.46%

FISCAL YEAR

2025-2026

AUDIT STATUS

REVIEWED