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Nilkamal Ltd (NILKAMAL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523385 NSE: NILKAMAL Plastic Products | Small Cap | Nilkamal Share Price

₹1,267.05 -20.45 (-1.59%)

As on 24-Jun'26 16:59

Nilkamal Ltd (NILKAMAL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523385 NSE: NILKAMAL Plastic Products | Small Cap | Nilkamal Share Price

₹1,267.05 -20.45 (-1.59%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,891 Cr.
Current Price
₹1,267.1
52-Week Low / High
₹1,036 / 1,901
TTM EPS
₹77.5
TTM Sales
₹3,778 Cr.
Book Value per Share
₹1,057.1
P/E Ratio
16.36
Lower than its 5-year historical median
Industry PE
39.8
Price to Book (P/B)
1.20
Lower than its 5-year historical median
Price to Sales (P/S)
0.50
Lower than its 5-year historical median
EV/EBITDA
5.96
Lower than its 5-year historical median
Dividend Yield
1.58%
Profitability Efficiency
Return on Equity (ROE)
7.58%
Outperforms industry median
Return on Capital Employed (ROCE)
10.76%
Outperforms industry median
Return on Assets (ROA)
4.59%
Operating Profit Margin
8.8%
Net Profit Margin
3.07%
Gross Profit Margin
7.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
14.05%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
16.48%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
8.67%
Asset Quality
Promoter Holding
64.54%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,562 Cr.
Equity
₹14.9 Cr.
Face Value
₹10
All Time Low / High
₹14.00 / 3174.00

Nilkamal stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Undervalued

Price Trend

Semi Strong
Q.1 Is Nilkamal Ltd a good quality company?
Nilkamal Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Nilkamal Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Nilkamal Ltd vs industry peers?
Nilkamal Ltd revenue CAGR is 7.98%, compared to the industry median CAGR of 4.71%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Nilkamal Ltd?
Promoters hold 64.54% of the Nilkamal Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Nilkamal Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 0.4% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Nilkamal Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 24.7%22.9%19%20.1%15.4%11%15.1%12.7%10.5%10.8%-
Value Creation
Index
0.80.60.40.40.1-0.20.1-0.1-0.3-0.2-

Growth Parameters

Sales 2,0242,1242,3622,2572,0922,7303,1313,1963,3133,7783,778
Sales YoY Gr.-4.9%11.2%-4.5%-7.3%30.5%14.7%2.1%3.6%14.1%-
Adj EPS 83.183.375.590.775.555.888.779.671.284.277.5
YoY Gr.-0.2%-9.4%20.2%-16.7%-26.1%59%-10.3%-10.6%18.3%-
BVPS (₹) 497.2568.7630.7691.6763.5805.2880.7944.8996.61,057.11,057.1
Adj Net
Profit
12412411313511383.3132119106126116
Cash Flow from Ops. 11212117525220369.1190250247306-
Debt/CF from Ops. 0.70.80.30.30.22.5111.50.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.2%12.6%6.5%14.1%
Adj EPS 0.1%2.2%-1.7%18.3%
BVPS8.7%6.7%6.3%6.1%
Share Price 1.2% -10.2% -19.3% -26.2%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
18.115.612.613.710.47.110.58.77.38.27.3
Op. Profit
Mgn %
11.711.59.212.612.28.3109.28.68.88.7
Net Profit
Mgn %
6.25.94.865.43.14.23.73.23.33.1
Debt to
Equity
0.10.10.10.100.20.10.20.30.20.1
Working Cap
Days
11811911512314613012713213512064
Cash Conv.
Cycle
7975737889838487847235

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales2,0242,1242,3622,2572,0922,7303,1313,1963,3133,778
Operating Expenses + 1,7901,8822,1461,9731,8362,5062,8192,9033,0283,446
Manufacturing Costs181208235237226307332377399472
Material Costs1,1641,1941,3921,2471,1771,6611,8851,8461,8832,137
Employee Cost 155173187191174197222249278311
Other Costs 290307333299259341381430467526
Operating Profit 234242216284256224312294285332
Operating Profit Margin (%) 11.6%11.4%9.1%12.6%12.2%8.2%9.9%9.2%8.6%8.8%
Other Income + 341314161211131214
Exceptional Items 000000000-15
Interest 14161829263140404347
Depreciation 5150529497101113115120142
Profit Before Tax 178187166182150109177161141152
Tax 54634839372643383435
Profit After Tax 12412411814211383134122107116
PAT Margin (%) 6.1%5.8%5.0%6.3%5.4%3.1%4.3%3.8%3.2%3.1%
Adjusted EPS (₹)82.182.778.695.275.755.989.881.971.377.5
Dividend Payout Ratio (%)13.40%15.70%16.50%15.80%19.80%26.90%22.30%24.40%28%25.80%

Valuation of Nilkamal - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 7428499411,0321,1391,2021,3141,4101,4871,577
Share Capital 15151515151515151515
Reserves 7278349261,0171,1241,1871,2991,3951,4721,562
Debt +8393514831156170168343192
Long Term Debt00444829117160127207192
Short Term Debt8393702399411360
Minority Interest7771111112
Trade Payables111171134153193221226215297272
Others Liabilities 150128160317360374365427416475
Total Liabilities 1,0931,2481,2941,5511,7241,9532,0752,2212,5442,518

Fixed Assets

Net Fixed Assets +2713443995926346957827759361,031
Gross Block3704915958781,0021,1551,3411,4391,7061,918
Accumulated Depreciation99147196285368460559665770887
CWIP 3291427182622387522
Investments 42475134353532714774
Inventories336379393406498661656596689645
Trade Receivables301340309325308314433464462467
Cash Equivalents 142017249168248513983
Others Assets 98109112142140153125194196195
Total Assets 1,0931,2481,2941,5511,7241,9532,0752,2212,5442,518

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 11212117525220369190250247306
PBT 173180159175148104169151133142
Adjustment 636466108112121143144153174
Changes in Working Capital -66-67-419-24-130-82-15-632
Tax Paid -58-56-46-50-34-25-40-30-33-42
Cash Flow From Investing Activity + -70-96-106-152-121-89-165-160-225-160
Capex -79-99-111-92-74-156-180-137-268-146
Net Investments 110-15-57609-2934-24
Others 735-4510775810
Cash Flow From Financing Activity + -38-20-73-100-7160-71-3234-213
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -27-0529-17-104448019
Interest Paid -12-12-16-26-24-28-37-37-41-44
Dividend Paid -8-18-19-43-7-15-22-30-30-30
Others 910-90-40-23112-563124-158
Net Cash Flow 35-4-01140-465856-67

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)18.1615.5713.1514.4410.427.1310.658.997.377.58
ROCE (%)24.722.9118.9820.0515.4210.9515.0712.7110.4710.76
Asset Turnover Ratio2.072.042.051.761.391.581.671.591.481.6
PAT to CFO Conversion(x)0.90.981.481.771.80.831.422.052.312.64
Working Capital Days
Receivable Days48.1048.9045.4046.2050.703940.7047.9048.1042
Inventory Days54.1054.6054.1058.3072.4072.7071.7066.9066.7060.20
Payable Days3543.20404253.6045.4043.2043.6049.7048.60

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Nilkamal Ltd FAQs

The current trading price of Nilkamal on 24-Jun-2026 16:59 is ₹1,267.1.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Jun-2026 the market cap of Nilkamal stood at ₹1,890.8 Cr

The latest P/E ratio of Nilkamal as of 23-Jun-2026 is 17.99.

The latest P/B ratio of Nilkamal as of 23-Jun-2026 is 1.29.

The 52-week high of Nilkamal is ₹1,901.2 and the 52-week low is ₹1,035.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Nilkamal is ₹3,686 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Nilkamal Ltd is a average quality company.

The key valuation ratios of Nilkamal Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Nilkamal Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Nilkamal Ltd

Nilkamal was launched under the able leadership of first-generation entrepreneurs Vamanrai Parekh (CHAIRMAN of Nilkamal) and Sharad Parekh (Managing Director of Nilkamal). Ever since, Nilkamal has gradually ventured into a multiplicity of businesses that pan across Material Handling Solutions, Ready Furniture, @Home - the brand’s lifestyle home solutions retail chain, Nilkamal Mattrezzz, and Bubbleguard - a material protection solution. Nilkamal is also listed on the National Stock Exchange and Bombay Stock Exchange since 1991.

Business area of company

Brand Nilkamal has become a household name owing to its quality and reach of moulded furniture business across the deepest pockets of the country. Nilkamal has to its credit, of being the world’s largest producer of moulded plastic furniture giving it an edge over competition.

Businesses

  • Nilkamal Furniture
  • Nilkamal Mattrezzz
  • @ Home
  • Nilkamal Bubbleguard
  • Material Handling

Awards

2012-13:

  • Company was awarded with ‘Silver Certificate of Merit Award’ by the Economic Times “Indian Manufacturing Excellence Award” in partnership with Frost and Sullivan for its Puducherry Unit for FY 2013.

2013-14:

  • Company was awarded with ‘Silver Certificate of Merit Award’ by the Economic Times “Indian Manufacturing Excellence Award” in partnership with Frost & Sullivan for its Jammu Unit.
  • The Company was similarly awarded in past for its Puducherry Unit and Gold Certificate of merit with trophy for Sinnar Unit.

2014-15:

  • After receiving the Silver Certificate of Merit and Gold Award under the Indian Manufacturing Excellence category from ‘Frost and Sullivans’ during the past four years for its various units, the Company is successful in grabbing the award for the fifth year in row under the category of “Challengers Award - Emerging Business Trophy - Gold Level” announced by the ‘Frost and Sullivan’s Green Manufacturing Excellence Awards 2015’. The said award is for adopting Green manufacturing practices at its Puducherry unit.
  • The Puducherry unit has also bagged the “First Prize in the Plastics Sector” at the National Energy Conservation Award – 2014, announced by the Ministry of Power, Government of India, for the conservation of Energy.

2015-16:

  • Company constantly strives towards reducing carbon foot prints, energy conservation and preserving the environment by adopting right practices for saving the scarce resources. In recognition of the same, all the Company’s units have been awarded the ISO 50001:2011 EnMS Certifications form TUV-SUD Germany.
  • Further, with its drive to obtain Quality Management and Energy Efficiency, Company has achieved the First prize under the National Award for Energy Conservation from BEE-Government of India for its Hosur Unit.
  • Furthermore, the Company has also received Sustainability 4.0 Believer’s certificate from “Frost and Sullivans” for its Vasona Plant, which certifies that the Company’s business is sustainable.

2016-17:

  • The Company’s Puducherry unit has been awarded the “Energy Efficient Plant” from The Confederation of Indian Industry (CII) during the 17th National Award for Excellence in Energy Management 2016. The said award is in recognition of the energy efficient practices adopted by the Company.
  • Further, continuing the Company’s record of adopting the right practices for optimising the use of resources and energy conservation, this year too Company has bagged the First prize at the National Energy Conservation Award for Plastics Sector 2016 from BEE-Government of India for its Sinnar unit. This is the third consecutive year where the said award has been conferred to the Company.

2017-18:

  • The Company’s Sinnar unit was awarded the “Energy Efficient Plant” by The Confederation of Indian Industry (CII) at its 18th National Award for Excellence in Energy Management 2017.
  • The Company has obtained Environment Management Systems certifications ISO 14001:2004 from TUV-SUD Germany, for all its plants which shows the Company’s commitment and responsibilities towards environmental protection.

2018-19:

  • The Company’s Sinnar unit was awarded the “Energy Efficient Plant” by the Confederation of Indian Industry (CII) at its 19th National Award for Excellence in Energy Management 2018.
  • The Company has also received India Manufacturing Excellence Award issued from “Frost and Sullivans” for its Silvassa Plant, which certifies the enhanced Manufacturing and supply chain Excellence.

2019-20:

  • The Company was awarded the “Asia's most trusted brand Awards 2019” by IBC Info Media Pvt. Ltd, a division of International Brand Consulting Corporation, USA for its furniture business.
  • The Company Puducherry unit was awarded with the “GreenCo Silver,2019” by Confederation of Indian Industry (CII ) – Shorabji Godrej Green Business Centre in recognition of Company's efforts towards adoption of “Green Practices” and being environment friendly which leads to proper management and control of product, process and Systems w.r.t to Conservation of Natural Resources.
  • The Company has also received “India Manufacturing Excellence Award 2019” issued by Frost and Sullivans for its Hosur Unit, which certifies the enhanced Manufacturing and supply chain Excellence.

Milestones

  • 1934: Vrajlal Parekh starts manufacturing metal buttons in a one-machine factory shed measuring 2000 sq. ft.
  • 1950: Vrajlal Parekh’s company buys Windsor machines to start plastics processing - calls company 'National Plastics'
  • 1956: First plastic cut glass modelled on a popular tea glass is made. Becomes instant success
  • 1964: National Plastics full-fledged into household items
  • 1970: National Plastics starts a factory at Powai (Mumbai) to boost manufacture of household items
  • 1981: Nilkamal Plastics is an independent venture run by brothers Vaman & Sharad Parekh
  • 1984: Nilkamal starts the manufacture of crates
  • 1990: Nilkamal starts the manufacture of moulded furniture
  • 1991: Nilkamal starts a plant in western part of India at Sinnar (Maharashtra). Nilkamal goes public.
  • 1994: Nilkamal becomes official supplier of crates to Coca-Cola & Pepsi
  • 1997: Marks the opening of Nilkamal’s several plants north India -- Noida (Uttar Pradesh), south India- Pondicherry (Union Territory), west India- Kharadapada- Silvassa (Union Territory of D & N H)
  • 1999: Nilkamal launches one more plant in west India- Vasona -Silvassa (Union Territory of D & N H)
  • 2001: Nilkamal achieves IS0 9001:2000 certification by TUV-Germany for all of its plants
  • 2002: Nilkamal launches its plant and a joint venture subsidiary company in Bangladesh - 'Nilkamal Padma Plastics'
  • 2005: Nilkamal inaugurates 'at home' -- the complete home solutions store with contemporary readymade knockdown wooden furniture and home accents
  • 2006: Nilkamal enters into a joint venture with BITO Lagertechnik Bittmann Gmbh, Germany to manufacture storage systems in metal in India.
  • 2012: Nilkamal Limited, world’s largest manufacturer of moulded furniture and Asia’s largest plastic processor of moulded products, organized a three day fare in the city last week to create awareness in market about using hygienic containers for storing food.
  • 2018: Nilkamal Material Handling efficaciously participated in India’s biggest poultry event, Paschim Banga Poultry Mela 2018 organised in Kolkata
  • 2020: Nilkamal launches quarantine beds, other special products to support healthcare infra
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