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 ₹ 1,883 Cr.
Current Price ₹ 1,257
High / Low ₹ 1,901 / 1,036
Stock P/E 14.8
Book Value ₹ 1,057
Dividend Yield 1.59 %
ROCE 10.5 %
ROE 8.28 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 1.19 times its book value
Company has been maintaining a healthy dividend payout of 26.1%

Cons

Company has a low return on equity of 8.09% 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	829	783	776	803	834	743	822	854	894	883	968	962	965
	732	709	714	731	753	686	744	791	809	825	882	872	869
Operating Profit	97	74	62	73	81	56	77	63	85	58	85	90	96
OPM %	12%	10%	8%	9%	10%	8%	9%	7%	10%	7%	9%	9%	10%
	6	6	9	4	4	6	5	6	3	6	5	-9	6
Interest	10	9	9	10	9	9	10	11	11	11	11	11	11
Depreciation	29	28	29	29	29	29	30	30	31	34	35	37	37
Profit before tax	64	42	32	38	48	24	43	28	46	20	45	33	54
Tax %	25%	23%	22%	23%	26%	23%	24%	23%	26%	22%	25%	23%	23%
	48	32	25	29	36	18	33	22	34	15	34	25	42
EPS in Rs	32.31	21.73	16.76	19.63	23.80	12.25	21.80	14.40	22.87	10.21	22.50	16.93	27.82
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,895	1,926	2,024	2,124	2,362	2,257	2,092	2,730	3,131	3,196	3,313	3,778
	1,736	1,691	1,789	1,882	2,146	1,973	1,836	2,506	2,819	2,903	3,027	3,449
Operating Profit	159	235	235	242	216	284	256	224	312	294	286	329
OPM %	8%	12%	12%	11%	9%	13%	12%	8%	10%	9%	9%	9%
	2	8	8	10	20	21	18	18	19	23	18	9
Interest	32	21	14	16	18	29	26	31	40	40	43	44
Depreciation	57	55	51	50	52	94	97	101	113	115	120	142
Profit before tax	71	168	178	187	166	182	150	109	177	161	141	152
Tax %	28%	31%	30%	34%	29%	22%	25%	24%	24%	24%	24%	23%
	51	116	124	124	118	142	113	83	134	122	107	116
EPS in Rs	33.83	76.43	82.11	82.74	78.63	95.21	75.68	55.86	89.76	81.92	71.32	77.45
Dividend Payout %	13%	9%	13%	16%	17%	16%	20%	27%	22%	24%	28%	26%

Compounded Sales Growth
10 Years:	7%
5 Years:	13%
3 Years:	6%
TTM:	14%

Compounded Profit Growth
10 Years:	1%
5 Years:	2%
3 Years:	-1%
TTM:	20%

Stock Price CAGR
10 Years:	0%
5 Years:	-12%
3 Years:	-18%
1 Year:	-28%

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	510	613	727	834	926	1,017	1,124	1,187	1,299	1,395	1,472	1,562
	209	105	83	93	59	66	230	354	351	406	531	418
	235	265	268	306	294	452	354	397	410	405	527	522
Total Liabilities	969	998	1,093	1,248	1,294	1,551	1,724	1,953	2,075	2,221	2,544	2,518
	306	273	271	344	399	592	634	695	782	775	936	1,034
CWIP	1	5	32	9	14	27	18	26	22	38	75	19
Investments	5	44	42	47	51	34	35	35	32	71	47	74
	657	677	749	849	830	898	1,036	1,197	1,239	1,338	1,487	1,391
Total Assets	969	998	1,093	1,248	1,294	1,551	1,724	1,953	2,075	2,221	2,544	2,518

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	167	183	112	121	175	252	203	69	190	250	247	306
	-15	-42	-73	-96	-107	-147	-120	-94	-164	-156	-224	-160
	-151	-142	-38	-20	-73	-100	-71	60	-71	-32	34	-213
Net Cash Flow	1	-2	0	4	-4	5	13	34	-45	62	57	-67
Free Cash Flow	151	143	33	22	63	160	129	-87	10	113	-20	159
CFO/OP	120%	100%	72%	73%	102%	106%	93%	42%	74%	95%	98%	106%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	48	51	54	58	48	53	54	42	51	53	51	45
Inventory Days	89	100	105	116	103	119	154	145	127	118	133	110
Days Payable	29	37	35	52	35	45	60	49	44	43	58	46
Cash Conversion Cycle	107	114	125	122	116	127	148	139	134	128	127	109
Working Capital Days	48	59	73	79	84	89	100	88	92	79	72	66
ROCE %	14%	26%	24%	23%	19%	19%	14%	9%	13%	11%	10%	10%

Insights

In beta

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Mar 2021

Mar 2022

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Mar 2025

Number of Manufacturing Plants
Count ・Standalone data

	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 ・Standalone data

Total Permanent Employees
Count

Asset Turnover Ratio
Ratio

Number of Channel Partners
Count ・Standalone data

Number of Dealers
Count ・Standalone data

Total Tonnage Processed/Sold
Metric Tons (MT) ・Standalone data

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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