Nilkamal Ltd

₹ 1,257 -2.90%

03 Jun - close price

About

Nilkamal Ltd transformed from Plastic Furniture to Complete Furniture Solution Provider for Home Furniture, Office Furniture, etc., in various materials and upholstered products. ^[1]

Key Points

Business Segments
Plastic Division: In this segment, the Co. focuses on 3 key verticals i.e., Moulded furniture, Ready Furniture and Mattress. ^[1] Nilkamal is the world’s largest manufacturer of moulded furniture and Asia’s largest processor of plastic moulded products. ^[2]
BubbleGUARD Division: In this division, the Co. offers a range of unique honeycomb structured boards, with the objective of changing the face of printing, packaging and protection. ^[3] During FY22, it launched 3 new products – PalletGUARD LITE, PalletGUARD Neo and DiscGUARD. ^[1]
Material Handling Division: Under this division, the Co. is trying to be "One Stop Shop" and offers a comprehensive product mix right from bins, crates, pallets, to Material Handling Equipment and shelving, Racking and ASRS (Automated Storage & Retrieval System). ^[4]

Website BSE NSE

Market Cap ₹ 1,876 Cr.
Current Price ₹ 1,257
High / Low ₹ 1,901 / 1,036
Stock P/E 16.1
Book Value ₹ 983
Dividend Yield 1.59 %
ROCE 10.2 %
ROE 8.16 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has been maintaining a healthy dividend payout of 29.6%

Cons

Company has a low return on equity of 7.64% over last 3 years.

* 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

Consumer Discretionary Consumer Durables Consumer Durables Plastic Products - Consumer

Part of BSE Consumer Discretionary BSE 1000

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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
	816	769	763	782	821	729	802	832	877	864	948	933	941
	722	697	703	713	742	675	728	774	795	810	867	851	851
Operating Profit	95	72	60	68	79	54	74	58	81	54	81	82	90
OPM %	12%	9%	8%	9%	10%	7%	9%	7%	9%	6%	9%	9%	10%
	3	3	6	2	6	3	2	3	7	3	7	-7	9
Interest	10	9	9	10	9	9	10	11	11	11	11	11	11
Depreciation	28	28	29	29	28	29	29	30	31	33	35	36	37
Profit before tax	60	38	27	31	47	19	37	19	46	13	43	27	52
Tax %	26%	25%	25%	25%	24%	25%	25%	25%	24%	25%	24%	21%	20%
	44	28	21	23	36	14	28	15	35	10	33	22	41
EPS in Rs	29.39	18.85	13.74	15.48	23.83	9.52	18.58	9.76	23.29	6.43	22.03	14.43	27.55
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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
	1,784	1,858	1,957	2,071	2,304	2,081	1,888	2,656	3,079	3,134	3,239	3,686
	1,641	1,636	1,736	1,836	2,094	1,815	1,646	2,436	2,776	2,852	2,969	3,378
Operating Profit	142	221	220	235	210	266	242	220	304	282	270	308
OPM %	8%	12%	11%	11%	9%	13%	13%	8%	10%	9%	8%	8%
	4	7	12	8	17	11	14	19	12	16	14	12
Interest	32	21	14	15	18	28	25	31	40	40	43	44
Depreciation	54	53	49	48	50	91	93	100	112	114	119	141
Profit before tax	61	155	169	179	159	158	139	108	163	143	121	135
Tax %	30%	32%	30%	34%	30%	23%	26%	24%	25%	25%	25%	22%
	42	105	118	117	111	122	103	82	122	107	91	105
EPS in Rs	28.45	70.22	79.38	78.48	74.54	81.76	69.30	55.16	81.70	71.91	61.16	70.45
Dividend Payout %	16%	10%	14%	17%	17%	18%	22%	27%	24%	28%	33%	28%

Compounded Sales Growth
10 Years:	7%
5 Years:	14%
3 Years:	6%
TTM:	14%

Compounded Profit Growth
10 Years:	1%
5 Years:	3%
3 Years:	-1%
TTM:	28%

Stock Price CAGR
10 Years:	1%
5 Years:	-12%
3 Years:	-18%
1 Year:	-27%

Return on Equity
10 Years:	10%
5 Years:	8%
3 Years:	8%
Last Year:	8%

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	15	15	15	15	15	15	15	15	15	15	15	15
Reserves	478	570	682	782	869	939	1,038	1,137	1,237	1,315	1,376	1,451
	207	105	83	93	59	66	227	354	351	406	531	418
	218	247	253	289	277	419	319	383	399	394	512	507
Total Liabilities	918	938	1,033	1,179	1,220	1,439	1,599	1,889	2,002	2,130	2,434	2,391
	284	261	256	327	383	543	591	688	777	769	931	1,028
CWIP	1	5	32	9	14	27	19	26	22	38	75	19
Investments	26	26	26	26	26	92	87	4	4	34	4	25
	607	647	719	818	798	777	903	1,171	1,199	1,289	1,424	1,320
Total Assets	918	938	1,033	1,179	1,220	1,439	1,599	1,889	2,002	2,130	2,434	2,391

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	Mar 2026
	152	167	99	112	171	251	188	65	194	243	242	304
	-8	-27	-64	-88	-103	-152	-113	-88	-174	-158	-231	-143
	-148	-141	-37	-20	-72	-94	-73	60	-72	-32	34	-212
Net Cash Flow	-4	-1	-1	4	-4	6	1	36	-51	53	45	-52
Free Cash Flow	138	131	26	19	61	159	114	-90	14	108	-32	160
CFO/OP	123%	96%	70%	71%	103%	111%	91%	41%	77%	96%	101%	110%

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	47	51	54	58	47	46	50	42	50	53	51	45
Inventory Days	89	100	105	116	103	118	157	147	126	117	133	110
Days Payable	30	36	35	53	35	43	60	48	43	42	58	47
Cash Conversion Cycle	106	114	124	121	115	121	147	142	133	128	126	108
Working Capital Days	46	58	72	79	84	82	97	90	91	78	71	64
ROCE %	13%	26%	25%	23%	19%	18%	14%	10%	13%	11%	9%	10%

Insights

In beta

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Mar 2022

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Number of Manufacturing Plants
Count

	x	x	xx	xx	xx	x	x	xx	xx	xx
xx	xx	xx	xx	xx	xx	xx	xx	xxx		xx
	x,xxx	x,xxx	x,xxx		x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
						x.xx	x.xx	x.xx	x.xx	x.xx
x,xxx	x,xxx	xxx		x,xxx						x,xxx
	xx,xxx	xx,xxx								xx,xxx
				xx,xxx				xxx,xxx		xxx,xxx

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Number of Retail Stores
Count

Total Permanent Employees
Count

Asset Turnover Ratio
Ratio

Number of Channel Partners
Count

Number of Dealers
Count

Total Tonnage Processed/Sold
Metric Tons (MT)

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
	64.54%	64.54%	64.54%	64.54%	64.54%	64.54%	64.54%	64.54%	64.54%	64.54%	64.54%	64.54%
	1.02%	1.16%	1.16%	1.14%	1.08%	1.10%	1.08%	1.01%	1.00%	1.02%	1.00%	0.98%
	19.84%	20.22%	20.01%	19.13%	17.69%	14.31%	14.41%	14.41%	14.38%	14.34%	14.21%	13.72%
	14.59%	14.08%	14.31%	15.20%	16.70%	20.05%	19.97%	20.05%	20.09%	20.10%	20.25%	20.76%
No. of Shareholders	17,199	17,448	17,241	18,036	19,668	22,615	21,991	21,916	21,701	22,400	21,113	20,845

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	64.10%	64.09%	63.97%	64.31%	64.53%	64.53%	64.54%	64.54%	64.54%	64.54%
	4.85%	3.45%	2.43%	2.12%	2.07%	2.13%	1.10%	1.14%	1.01%	0.98%
	5.35%	11.14%	13.72%	16.93%	18.14%	19.58%	19.80%	19.13%	14.41%	13.72%
	25.70%	21.32%	19.89%	16.64%	15.26%	13.76%	14.57%	15.20%	20.05%	20.76%
No. of Shareholders	15,326	22,452	26,474	23,011	25,110	19,740	18,459	18,036	21,916	20,845

* 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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Nilkamal Ltd

Nilkamal Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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