Systematix maintains 'Hold' on Nestle India, ₹1,460 target on rural reach tripling
Systematix backs Nestle India's rural push—village reach tripling to 216,000 by FY26 across 5.3 million outlets—citing strong confectionery and beverages growth, new launches, and improved FCF of ₹42 billion. But it flags GST benefit phase-out and margin pressure, capping upside at 7% with a rich 65x FY28E P/E.
Systematix maintains 'Hold' on Nestle India with ₹1,460 target, citing rural reach tripling to 216,000 villages, strong confectionery/beverages growth, new product launches, and improved free cash flow, while flagging GST benefit phase-out and margin pressure.