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Swing Capital

Nilkamal Ltd

NSE: NILKAMAL BSE: 523385

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

₹1,250
52W: ₹1036 — ₹1901
PE 16 · Book ₹983 · +27% vs book
Market Cap₹1,865 Cr
Stock P/E16Price to Earnings
ROCE10.2%Return on Capital
ROE8.16%Return on Equity
Div. Yield1.6%Face Value ₹10

Strengths

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

Weaknesses

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

Shareholding Pattern

Promoters64.54%
FIIs0.98%
DIIs13.72%
Public20.76%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters64.54%64.54%64.54%64.54%64.54%64.54%64.54%64.54%
FIIs1.08%1.1%▲0.01.08%▼0.01.01%▼0.11%▼0.01.02%▲0.01%▼0.00.98%▼0.0
DIIs17.69%14.31%▼3.414.41%▲0.114.41%14.38%▼0.014.34%▼0.014.21%▼0.113.72%▼0.5
Public16.7%20.05%▲3.419.97%▼0.120.05%▲0.120.09%▲0.020.1%▲0.020.25%▲0.120.76%▲0.5

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales782821729802832877864948933941
Expenses713742675728774795810867851851
Operating Profit68795474588154818290
OPM %9%10%7%9%7%9%6%9%9%10%
Net Profit23361428153510332241
EPS ₹15.4823.839.5218.589.7623.296.4322.0314.4327.55

AI Insights

Revenue Trend

Mar 2026 revenue at ₹3,686Cr, up 13.8% YoY. OPM at 8%.

Debt Position

Borrowings at ₹418Cr. Debt-to-equity ratio: 0.29x. Healthy balance sheet.

Capex Cycle

CWIP at ₹19Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 13.72% (-6.12pp change). FIIs: 0.98% (-0.04pp change). Promoters hold 64.54%.

Margin & Efficiency

ROCE declining from 13% (Mar 2015) to 10% (Mar 2026). Working capital days: 64.

Valuation

PE 16x with 10.2% ROCE. Price is 27% above book value of ₹983. Dividend yield: 1.6%.

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