Nestle India Shares Reach Record High Following Strong Q4 FY26 Earnings

Nestle India Share Price Hits Record High

Nestle India's share price surged over 3% on the Bombay Stock Exchange (BSE) on Wednesday, April 22, reaching a record high of ₹1,424. This milestone comes on the back of the company's strong quarterly results for the period ended March 2026 (Q4FY26).

Quarterly Performance

Nestle India's standalone net profit rose by approximately 26% year-over-year (YoY) to ₹1,114 crore in Q4FY26, compared to ₹885 crore in the same period last year. Revenue from operations grew by about 23% YoY to ₹6,748 crore, driven by double-digit volume growth. The company also increased its advertising spends by over 50%, while maintaining a healthy EBITDA margin of 26.3%.

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Key Developments

Chairman and Managing Director Manish Tiwary commented on the company's performance, stating that Nestle India remained focused on fundamentals and execution, achieving double-digit growth. Key brands such as MAGGI noodles continued to maintain leadership, while KITKAT and NESCAFÉ accelerated their market share gains over the past five years.

Brokerage Views

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Axis Securities remains bullish on the FMCG stock, highlighting strong execution and consistent growth across categories. "We remain optimistic about the company's long-term prospects, driven by sustained volume-led growth and strong traction across key segments. We maintain our BUY rating with a target price of ₹1,640, implying 19% upside," it said.

On the other hand, Motilal Oswal Financial Services (MOSL) acknowledged the strong operational performance but flagged valuation concerns. "Despite strong growth and margin expansion driven by cost efficiencies, the stock trades at elevated multiples of 68x/60x FY27/FY28 earnings. We therefore maintain a Neutral rating with a target price of ₹1,400," it said.

Elara Capital turned more constructive, upgrading the stock to "Accumulate" and raising its target price to ₹1,475. The brokerage cited sustained double-digit volume growth and improving growth trajectory under new leadership, along with upward revisions to earnings estimates for FY27 and FY28.

Conclusion

While Nestle India's strong volume-led growth and margin resilience continue to support its long-term story, the debate now centers on valuations, with upside potential seen but not without caution.