Nikhil Adhesives Ltd

₹ 91.6 -0.69%

27 May - close price

About

Incorporated in 1986, Nikhil Adhesives Ltd is in the business of manufacturing various types of polymer emulsions and adhesives, and trading of chemicals^[1]

Key Points

Business Vertical **
a) Adhesives and Specialty Chemicals^[1]
Product Portfolio - B2B **
- Emulsions (Paint Emulsions and Textile Emulsions & Binders)- 71+ products,
- Industrial Adhesives- 42+ products,
- Construction Chemicals- 6+ products,
RDP (100% import substitute)- 1 product ppt

Website BSE

Market Cap ₹ 421 Cr.
Current Price ₹ 91.6
High / Low ₹ 129 / 56.8
Stock P/E 23.9
Book Value ₹ 31.7
Dividend Yield 0.24 %
ROCE 15.1 %
ROE 12.8 %
Face Value ₹ 1.00

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Pros

Cons

The company has delivered a poor sales growth of 2.43% over past five years.
Company has a low return on equity of 13.0% over last 3 years.
Dividend payout has been low at 4.32% of profits over last 3 years
Debtor days have increased from 80.3 to 105 days.

* 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

Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	160.68	142.08	143.81	130.29	148.02	161.17	147.69	134.21	149.11	123.47	131.05	133.07	165.96
	152.00	135.29	136.27	122.73	139.13	151.20	138.29	125.67	139.67	115.10	122.80	125.39	154.72
Operating Profit	8.68	6.79	7.54	7.56	8.89	9.97	9.40	8.54	9.44	8.37	8.25	7.68	11.24
OPM %	5.40%	4.78%	5.24%	5.80%	6.01%	6.19%	6.36%	6.36%	6.33%	6.78%	6.30%	5.77%	6.77%
	0.10	0.13	0.07	0.05	0.10	0.12	0.12	0.19	0.13	0.11	1.11	0.43	0.25
Interest	1.88	1.51	1.60	1.77	2.09	1.90	2.05	2.13	2.04	1.81	1.62	1.51	1.41
Depreciation	1.38	1.31	1.49	1.67	1.76	1.68	1.71	1.92	1.77	2.00	1.87	1.87	1.79
Profit before tax	5.52	4.10	4.52	4.17	5.14	6.51	5.76	4.68	5.76	4.67	5.87	4.73	8.29
Tax %	34.24%	25.12%	23.45%	29.02%	26.85%	22.58%	20.31%	26.07%	27.43%	23.55%	32.03%	25.79%	24.25%
	3.63	3.07	3.45	2.96	3.76	5.04	4.59	3.47	4.18	3.57	3.99	3.52	6.28
EPS in Rs	0.79	0.67	0.75	0.64	0.82	1.10	1.00	0.76	0.91	0.78	0.87	0.77	1.37
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	251	266	260	330	446	422	491	814	743	564	585	554
	242	255	248	317	430	403	460	770	709	533	548	518
Operating Profit	8	11	11	13	17	19	31	43	35	31	37	36
OPM %	3%	4%	4%	4%	4%	5%	6%	5%	5%	5%	6%	6%
	1	0	0	-0	1	1	0	1	0	0	1	2
Interest	6	8	7	7	8	8	7	6	6	7	8	6
Depreciation	2	2	1	2	2	3	3	4	5	6	7	8
Profit before tax	1	2	3	4	7	9	21	34	24	18	22	24
Tax %	30%	12%	33%	34%	30%	23%	26%	26%	28%	26%	25%	26%
	0	2	2	3	5	7	16	25	17	13	17	17
EPS in Rs	0.10	0.41	0.52	0.62	1.14	1.53	3.41	5.50	3.71	2.88	3.67	3.78
Dividend Payout %	0%	0%	0%	16%	9%	7%	4%	4%	5%	7%	6%	0%

Compounded Sales Growth
10 Years:	8%
5 Years:	2%
3 Years:	-9%
TTM:	-5%

Compounded Profit Growth
10 Years:	27%
5 Years:	2%
3 Years:	1%
TTM:	5%

Stock Price CAGR
10 Years:	35%
5 Years:	11%
3 Years:	-10%
1 Year:	-2%

Return on Equity
10 Years:	17%
5 Years:	17%
3 Years:	13%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	4	4	4	5	5	5	5	5	5	5	5	5
Reserves	10	12	14	30	35	41	56	81	97	109	125	141
	36	35	46	32	34	34	28	28	35	54	59	68
	61	68	67	89	113	111	202	203	159	128	134	121
Total Liabilities	112	119	130	157	186	191	291	316	295	295	323	334
	25	24	23	30	37	44	54	64	76	94	96	92
CWIP	1	0	1	0	0	6	0	1	4	0	1	1
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	86	94	106	127	149	141	236	250	215	202	227	242
Total Assets	112	119	130	157	186	191	291	316	295	295	323	334

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	16	13	-4	11	16	21	23	25	21	14	7
	-0	-2	-1	-6	-10	-12	-7	-15	-19	-17	-10
	-15	-9	4	-5	-7	-9	-15	-6	-3	10	-3
Net Cash Flow	0	1	-0	-0	-0	-1	1	3	-1	7	-7
Free Cash Flow	14	12	-7	5	6	7	16	10	2	-3	-4
CFO/OP	195%	115%	-31%	93%	105%	122%	84%	81%	76%	59%	32%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	62	61	91	86	79	82	112	65	54	65	71	105
Inventory Days	44	41	36	45	39	40	66	41	52	65	75	48
Days Payable	93	95	98	106	95	94	148	87	74	79	75	61
Cash Conversion Cycle	13	7	28	25	23	28	31	19	32	51	71	92
Working Capital Days	4	2	22	18	13	12	21	17	19	27	40	46
ROCE %	13%	20%	17%	18%	22%	22%	33%	39%	24%	16%	17%	15%

Insights

In beta

Mar 2014

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Total Production Volume
MT

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Number of Manufacturing Plants
Count

Installed Production Capacity
MTPA

RDP Manufacturing Capacity
MTPA

Number of Depots/Warehouses
Count

Number of Distributors
Count

Total Active SKUs / Focus Products
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.46%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.04%	0.04%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%	0.34%	0.34%	0.38%
	45.57%	45.57%	45.56%	45.56%	45.57%	45.56%	45.56%	45.52%	45.32%	45.19%	45.22%	45.17%
No. of Shareholders	18,483	18,635	17,676	16,052	15,144	14,258	13,688	13,389	13,165	12,774	12,932	12,634

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	64.22%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.46%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.00%
	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.38%
	35.75%	45.54%	45.56%	45.56%	45.56%	45.56%	45.56%	45.56%	45.52%	45.17%
No. of Shareholders	1,520	1,672	1,487	1,476	1,783	4,773	17,745	16,052	13,389	12,634

* 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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Nikhil Adhesives Ltd

Nikhil Adhesives Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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