Nirlon Ltd

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Nirlon Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Nirlon Ltd

₹ 600 -0.11%
18 Sep - close price
nirlonltd.com BSE: 500307 NSE: NIRLON
About

Nirlon Ltd is in business of development and management of the Industrial Park / Information Technology (IT) Park, i.e. Nirlon Knowledge Park (NKP) - Goregaon (East), Mumbai[1]

It was a pioneer in manufacturing of synthetic yarns and industrial rubber products. However, from 1988 to 2006, Nirlon successfully underwent bankruptcy restructuring. Nirlon commenced development of Nirlon Knowledge Park in 2006.[2]

Key Points

Nirlon Knowledge Park
The company owns Nirlon Knowledge Park (NKP), which is an approx. 23-acre IT Park located in Goregaon (East), Mumbai. It has 4.77 million sq. ft. of constructed area and 3.08 million sq. ft. of chargeable area [1]
The company licensed the entire Phase V to JP Morgan under a 10-year arrangement. The company also owns a 75% undivided interest in about 45,475 sq. ft. at Nirlon House. [2] [3] [4]

Website BSE NSE
  • Market Cap ₹ 5,411 Cr.
  • Current Price ₹ 600
  • High / Low ₹ 664 / 445
  • Stock P/E 15.2
  • Book Value ₹ 52.0
  • Dividend Yield 5.00 %
  • ROCE 30.8 %
  • ROE 83.8 %
  • Face Value ₹ 10.0
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Pros

  • Stock is providing a good dividend yield of 5.00%.
  • Company has delivered good profit growth of 22.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 66.1%
  • Company has been maintaining a healthy dividend payout of 99.8%

Cons

  • Stock is trading at 11.6 times its book value
  • Tax rate seems low

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Figures in Rs. Crores

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
148 149 152 153 157 160 161 158 163 165 170 171 168
32 30 32 32 36 32 30 35 35 36 38 39 39
Operating Profit 116 120 120 122 120 129 131 123 128 129 132 132 129
OPM % 78% 80% 79% 79% 77% 80% 81% 78% 78% 78% 78% 77% 77%
1 1 1 1 1 2 3 3 4 4 3 3 4
Interest 30 30 30 33 30 30 29 28 28 26 28 26 26
Depreciation 14 14 14 15 14 14 14 13 14 14 14 14 14
Profit before tax 73 77 77 75 78 87 90 84 90 93 93 96 93
Tax % 32% 32% 32% 32% 36% 35% 35% 36% 35% -59% 26% 26% 26%
50 52 52 51 50 56 58 54 58 148 69 71 69
EPS in Rs 5.52 5.82 5.78 5.68 5.53 6.27 6.47 5.94 6.48 16.39 7.69 7.83 7.70
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
239 289 288 291 299 310 317 384 573 603 636 669 674
55 65 66 69 72 78 80 86 114 126 133 148 152
Operating Profit 184 223 222 222 226 232 237 298 458 477 503 521 523
OPM % 77% 77% 77% 76% 76% 75% 75% 78% 80% 79% 79% 78% 77%
9 -2 5 1 1 0 2 2 3 4 8 14 14
Interest 76 72 78 66 70 32 14 35 126 123 117 108 106
Depreciation 69 80 71 72 59 53 49 75 103 56 56 56 56
Profit before tax 48 69 78 85 99 146 177 190 233 302 338 372 375
Tax % 32% 37% 35% 35% 36% 25% 28% 42% 32% 32% 36% 7%
33 44 51 56 64 109 127 111 158 206 218 346 357
EPS in Rs 3.62 4.83 5.67 6.18 7.07 12.15 14.14 12.30 17.52 22.81 24.21 38.39 39.61
Dividend Payout % 21% 16% 13% 12% 11% 6% 57% 211% 148% 114% 107% 78%
Compounded Sales Growth
10 Years: 9%
5 Years: 16%
3 Years: 5%
TTM: 5%
Compounded Profit Growth
10 Years: 23%
5 Years: 22%
3 Years: 30%
TTM: 57%
Stock Price CAGR
10 Years: 11%
5 Years: 14%
3 Years: 12%
1 Year: 12%
Return on Equity
10 Years: 31%
5 Years: 49%
3 Years: 66%
Last Year: 84%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 90 90 90 90 90 90 90 90 90 90 90 90
Reserves 1,330 1,366 283 207 262 364 484 388 312 283 267 378
715 663 608 611 853 989 978 1,178 1,145 1,146 1,146 1,147
252 253 210 212 251 345 353 542 554 607 740 634
Total Liabilities 2,387 2,371 1,191 1,120 1,457 1,788 1,906 2,199 2,101 2,126 2,243 2,250
2,299 2,251 1,026 835 791 741 705 1,986 1,932 1,910 1,870 1,832
CWIP 7 26 55 141 559 948 1,140 13 6 3 9 7
Investments 0 0 0 0 0 0 0 0 0 0 0 0
80 94 109 143 106 99 60 200 163 214 364 411
Total Assets 2,387 2,371 1,191 1,120 1,457 1,788 1,906 2,199 2,101 2,126 2,243 2,250

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
205 205 217 212 224 311 209 340 377 425 480 477
-162 -75 -63 -118 -405 -325 -120 -159 -90 -51 -38 -309
-39 -136 -140 -74 148 22 -100 -86 -365 -337 -332 -322
Net Cash Flow 4 -6 14 20 -33 8 -10 95 -79 37 110 -154
Free Cash Flow 42 130 153 93 -181 -15 89 179 292 370 434 434
CFO/OP 118% 99% 105% 105% 111% 147% 102% 124% 94% 101% 107% 106%

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 5 5 5 3 3 5 2 3 2 2 2 2
Inventory Days
Days Payable
Cash Conversion Cycle 5 5 5 3 3 5 2 3 2 2 2 2
Working Capital Days -361 -260 -171 -68 -93 -107 -128 -268 -118 -107 -126 -82
ROCE % 5% 7% 10% 16% 16% 14% 13% 14% 22% 28% 30% 31%

Insights

In beta
Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 May 2022 Jun 2023 Jun 2024 Sep 2025
Occupancy Rate (NKP + Nirlon House)
%

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Total Chargeable Area (NKP + Nirlon House)
Mn sq. ft.
Vacant Area (NKP + Nirlon House)
sq. ft.
Largest Licensee's Share of Gross Lease Rentals
%
License Area Due for Renewal/Reset over next 3 years (% of total area)
%
Top Licensees' Share of Gross Lease Rentals
%

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Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
70.34% 70.34% 67.84% 67.80% 67.76% 67.74% 67.72% 67.70% 67.68% 67.67% 67.67% 67.66%
14.38% 14.25% 14.34% 10.46% 10.36% 10.48% 11.98% 12.25% 13.29% 13.34% 15.78% 4.49%
0.01% 0.01% 0.01% 4.77% 4.81% 4.85% 3.71% 3.41% 2.39% 2.31% 0.07% 0.01%
15.28% 15.38% 17.82% 16.96% 17.05% 16.94% 16.58% 16.62% 16.64% 16.68% 16.46% 27.85%
No. of Shareholders 24,99024,39825,95127,01928,33827,27826,84627,02327,29826,90927,60826,433

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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