Nestle Pakistan Ltd (PSX: NESTLE) announced its results for the three months to 30 September 2026 on 22 October 2026. It reported a profit after tax of Rs 4.55 bn, or Rs 100.27 a share, against a profit of Rs 3.67 bn in the same period last year (+24%). Sales or revenue came to Rs 53.24 bn, +7.5% on a year earlier. The company also announced a 970% cash dividend (Rs 97.00 a share on a Rs 10 share).
The numbers
| Quarter to September 2026 | This year | Last year | Change |
|---|---|---|---|
| Sales / revenue | Rs 53.24 bn | Rs 49.53 bn | +7.5% |
| Profit after tax | Rs 4.55 bn | Rs 3.67 bn | +23.9% |
| Earnings per share | Rs 100.27 | Rs 80.93 | +23.9% |
| Operating profit (EBIT) | Rs 8.98 bn | Rs 7.93 bn | +13.3% |
| Profit before tax | Rs 8.35 bn | Rs 7.02 bn | +19.1% |
| Net margin | 8.5% | 7.4% | |
| Operating margin | 16.9% | 16.0% | |
| Effective tax rate | 45.6% | 47.7% |
Operations or tax?
Operating profit (EBIT) grew +13%, profit before tax rose +19% and profit after tax rose +24%. Below the operating line, finance costs and other income added to growth. The effective tax rate fell to about 46% from 48%, so part of the profit growth came from a lower tax charge rather than from the business itself.
Quarter by quarter
Profit after tax for each of the last quarters, with operating profit (EBITDA) where available, against the same quarter a year earlier.
| Quarter | Profit | vs year ago | Operating profit |
|---|---|---|---|
| Sep 2026 | Rs 4.55 bn | +24% | Rs 10.18 bn |
| Jun 2026 | Rs 4.37 bn | −20% | Rs 10.77 bn |
| Mar 2026 | Rs 5.61 bn | +12% | Rs 11.13 bn |
| Dec 2025 | Rs 3.15 bn | +25% | Rs 6.36 bn |
| Sep 2025 | Rs 3.67 bn | +58% | Rs 9.07 bn |
| Jun 2025 | Rs 5.43 bn | +8% | Rs 10.76 bn |
| Mar 2025 | Rs 5.00 bn | −1% | Rs 10.30 bn |
| Dec 2024 | Rs 2.52 bn | +259% | Rs 5.87 bn |
Over the last 12 months the company earned Rs 17.67 bn, against Rs 16.62 bn in the 12 months before (+6%). Profit grew year on year in 3 of the last 4 quarters.
The net margin widened to 8.5% from 7.4% a year earlier, so profit grew faster than sales.
Against its sector
14 other companies in the Food & Personal Care Products sector on our list have reported for the same period. Their median profit change is +3%; NESTLE’s +24% is ahead of the median and better than 10 of 14.
Best in the sector so far: CLOV (+320%), BFAGRO (+38%), UPFL (+34%), RMPL (+26%), MUREB (+22%).
Valuation
| Price to earnings, last 12 months | 17.8x (sector median 11.1x) |
| Dividend yield, last 12 months | 8.0% |
| Our fair value estimate | Rs 7,738.88 (margin of safety +10%) |
| Pulse Score | 65 / 100 |
| Market value | Rs 314.78 bn |
| 52-week range | Rs 6,802.12 to Rs 8,638.00 |
On this measure the shares trade above the typical company in the Food & Personal Care Products sector, a premium the market often pays for steadier growth.
Earnings momentum
Over the last 12 months profit after tax changed by +6.4% and operating profit by +6.8% on the year before; in the latest quarter against a year earlier the figures were +23.9% and +13.3%. Our earnings momentum check, which looks for profit and operating profit accelerating together, shows no signal. It is one input to the Pulse Score, not a recommendation. These figures may not yet include the quarter just announced.
Market reaction
The share price has moved −0.3% since the close before the announcement (Rs 6,962.84 to Rs 6,941.25 on 4 November 2026), against +3.7% for the KSE-100 over the same days.
Dividend record
The company paid a cash dividend in 10 of the last 10 years, Rs 566.00 a share over the last 12 months, with dividends growing +24% a year over five years and 145% of profit paid out.
What to watch
- The full report. The company’s quarterly report, with the directors’ review, usually follows within a few weeks and explains what drove the change.
- Book closure from 2 November 2026. Shareholders on the register before then receive the payout.
- Next results. The next set of results is expected around 16 February 2027.
The full picture, with the score breakdown, fair value estimate and price history, is on the NESTLE page of the Market Pulse Hub dashboard.
Bilal, Market Pulse Hub
Source: results as reported to the Pakistan Stock Exchange on 22 October 2026, with operating profit and profit before tax from the company’s report filed with PSX; prices and payouts from PSX. Changes, margins and valuation ratios are our calculations. This article is generated automatically from the reported figures and does not include the company’s own commentary. It is for information only and is not investment advice.