Nestle India Exceeds Expectations in Q3FY26; Motilal Oswal Maintains Neutral Rating

• Nestle India reported an 18.5% YoY revenue growth in 3QFY26, surpassing expectations.
• Domestic revenue grew 18.3%, driven by strong underlying volume growth across categories.
• Confectionery and Milk Products & Nutrition segments showed encouraging growth and recovery.
• Export revenue also saw a significant 23% YoY increase during the quarter.
• Motilal Oswal reiterates a 'Neutral' rating with a revised target price of INR 1,400 due to expensive valuation.

Why It Matters: Nestle India delivered strong 3QFY26 results, but Motilal Oswal maintains a Neutral rating due to high valuation.