Results reported 15 October 2026 | FBMCG | Standalone unless noted
The Quick Take
Nestle India’s standalone Q2 FY27 PAT rose 36% to Rs 1,026.77 cr, on revenue from operations up 20% to Rs 6,788 cr. The stock fell 7.8% on the day, its worst single-day fall since March 2020, after the chairman said food inflation is a reality.
Q2 FY27 snapshot (Rs crore)
| Metric | Q2 FY27 | Comparison |
|---|---|---|
| Revenue from operations (standalone) | 6,788.34 | +20.3% (Q2 FY26: 5,643.61) |
| EBITDA | 1,618.6 (23.8% margin) | +31.8% |
| PAT, standalone | 1,026.77 | +36.3% (Q2 FY26: 753.20) |
| PAT, consolidated | 1,009.61 | +35.9% (Q2 FY26: 743.17) |
| Advertising and marketing | +46% YoY |
- Domestic sales Rs 6,514.74 cr (+20.4%); exports Rs 267.43 cr (+22%).
- H1 FY27 standalone profit Rs 2,001.89 cr, against Rs 1,412.43 cr.
Management commentary
The chairman said food inflation is a reality and that the plan is innovation, brand investment and productivity. There is no numeric FY27 guidance. Coffee and wheat are range-bound, sugar and edible oils stable at high levels, cocoa volatile.
Launches and channels
Launches include KitKat Delights Choco Lava, Nescafe RTD, Maggi Veg Atta and new pet food lines. Growth is coming from quick commerce, general trade and rural channels.
Risks
- Food and input inflation; cocoa volatility.
- Margin pressure and high ad spend.
- The market is focused on margin durability after the sell-off.
Setup
Neutral. A strong print, but the share price reaction shows the market is worried about margins.
This is educational analysis, not personalized investment advice. Do your own research before investing.
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