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Nestle: 1QFY02 net up 41% - Views on News from Equitymaster
 
 
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  • Apr 25, 2001

    Nestle: 1QFY02 net up 41%

    Nestle India has posted a net profit of Rs 396 m for the quarter ended March 31, 2001. This is a significant 41% higher than Rs 281 m it had posted in the corresponding period last year. The company's turnover improved 30% YoY during the same period.

    (Rs m) 1QFY01 1QFY02 Change FY01
    Net Sales 3,478 4,516 29.8% 15,820
    Other Income 28 21 -25.0% 107
    Expenditure 2,965 3,742 26.2% 13,080
    Operating Profit (EBDIT) 513 774 50.9% 2,740
    Operating Profit Margin (%) 14.7% 17.1%   17.3%
    Interest 38 28 -26.3% 149
    Depreciation 92 108 17.4% 379
    Profit before Tax 411 659 60.3% 2,319
    Tax 120 173 44.2% 805
    Extraordinary expenses -10 -90 800.0% -328
    Profit after Tax/(Loss) 281 396 40.9% 1,186
    Net profit margin (%) 8.1% 8.8%   7.5%
    No. of Shares (eoy) (m) 96.4 96.4   96.4
    Earnings per share* 11.7 16.4   12.3
    Current P/e ratio   32.7   43.7
    *(annualised)        

    The growth in net profit is mainly due to increased sales, favourable commodity prices and the product mix being skewed in favour of higher margin products. This increase has been partially offset by the costs associated with new businesses viz. water and liquid milk.

    Nestle also managed to decrease its interest burden by 26% during the period. At the current price of Rs 537 the stock trades at a P/e multiple of 33 times its annualised 1QFY02 earnings, which is on the higher side of the FMCG valuations.

     

     

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