Nestle India shares drop 2% after Q4 results. Buy, sell or hold?
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Nestle India’s share price fell on Friday to the day’s low of Rs 2,511.60, dropping 2% after the company declared its Q4 results on Thursday. The standalone net profit rose 27% year-on-year (YoY) to Rs 934 crore for the March quarter as compared to Rs 737 crore a year ago. Revenue rose 9% to Rs 5,268 crore, up from Rs 4,831 crore, the FMCG major said in a regulatory filing. The company has also informed the exchanges about changing the financial year from “1st January - 31st December” cycle to “1st April - 31st March” cycle. Accordingly, the current financial year of the company stands extended up to March 31, 2024, covering a period of 15 months commencing from January 1, 2023, to March 31, 2024, comprising five quarters. Here’s what brokerages have to say about the stock performance: Goldman Sachs Goldman Sachs sees the March quarter as a strong one driven by margin expansion. They believe that gross margins may not sustain as input cos...