Nilkamal share price today

Nilkamal Ltd's share price was ₹2,023.90 at the close on 5 November 2026. It has been rising for 13 weeks. That is 23.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,127 and ₹2,117, and at that close it sat 91% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Nilkamal Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row.

Over the last 11 years the share price moved +84% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) cut their stake for 6 quarters in a row, best operating margin in 14 quarters and highest quarterly profit in 16 quarters.

1. Indian funds and insurers (DIIs) cut their stake for 6 quarters in a row

   From 14.4% to 7.9% of the company by the September 2026 quarter.

2. Best operating margin in 14 quarters

   Operating margin was 12% in the September 2026 quarter, against 9% a year earlier.

3. Highest quarterly profit in 16 quarters

   Profit of ₹68 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Nilkamal reported revenue of ₹1,126 crore, up 16.3% from ₹968 crore a year earlier, and a profit of ₹68.0 crore, up 100.0% from ₹34.0 crore.

Nilkamal results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Nilkamal closed at ₹2,023.90 on 5 November 2026, up 32.6% from ₹1,526.60 a year earlier (7 November 2025) and down 15.5% over five years. Its highest weekly close since March 2016 was ₹2,922.40 on 6 August 2021.

Nilkamal share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 11 March 2016 to 5 November 2026.

5 Nov 2026: Nilkamal closed at ₹2,023.90, up 3.9% on the week and up 14.0% on the month. Results for July to September 2026: Revenue up 16.3% and profit up 100.0% on a year earlier.

Earlier

• Our read, 22 Aug 2026: Operating cash flow reached ₹306 crore in fiscal 2026, delivering an operating cash flow to profit ratio of 2.64x through a 35-day reduction in inventory days. Net profit expanded 60.0% year-on-year in the June 2026 quarter as operating margin recovered to 9% despite a 7.1% revenue decline in consumer plastic lines.
• 10 Jul 2026: ex-date for a dividend of ₹20 a share.

Our read of the business

Operating cash flow reached ₹306 crore in fiscal 2026, delivering an operating cash flow to profit ratio of 2.64x through a 35-day reduction in inventory days. Net profit expanded 60.0% year-on-year in the June 2026 quarter as operating margin recovered to 9% despite a 7.1% revenue decline in consumer plastic lines.

April to June 2026: Net profit expands 60.0% on a year earlier to ₹24 crore as operating margin reaches 9% despite 7.1% revenue decline.

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Nilkamal paid ₹20 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.99% at the ₹2,023.90 close on 5 November 2026. The last was a dividend of ₹20 a share, ex-date 10 July 2026.

Nilkamal dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Nilkamal Ltd paid out 26% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

Nilkamal's management made 0 promises we could check against what it later reported.

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

What is changing at Nilkamal, from the latest results and calls: working capital and inventory compression, operating leverage and margin stabilization and deleveraging and interest cost savings.

• Operating Leverage and Margin Stabilization. Operating margin expansion from 7% to 9-10% through product mix and polymer cost stability. ✓ fact
• Deleveraging and Interest Cost Savings. Total borrowings lowered by ₹113 crore in fiscal 2026, reducing balance sheet leverage. ✓ fact
• Material Handling and B2B Logistics Expansion. Industrial crates, pallets, and material handling solutions outpacing retail consumer furniture. ✓ fact

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

A reversal in inventory discipline where inventory days expand back above 135 days alongside operating margins falling below 7.5% across two consecutive quarters.

Each change stops working if

• Operating Leverage and Margin Stabilization: Polymer resin input costs surge without corresponding downstream price pass-through.
• Deleveraging and Interest Cost Savings: Unfunded retail or warehouse expansions trigger renewed borrowing spikes above ₹550 crore.
• Material Handling and B2B Logistics Expansion: Industrial warehouse capital spending and logistics expansion in India decelerate significantly.

The main risks

• Polymer Raw Material Price Volatility: Crude-linked polypropylene and polyethylene prices directly influence gross and operating margins. ⚠ estimate
• Institutional Shareholder Distribution: Domestic institutional stake declined by 559 basis points from 19.80% to 14.21% over 11 quarters. ⚠ estimate
• Consumer Plastic Furniture Demand Deceleration: Revenue contracted 7.1% year-on-year in June 2026 to ₹820 crore. ⚠ estimate
• Sub-Threshold Return on Equity Profile: Return on equity of 8.22% and return on capital of 10.6% lag the cost of equity. ⚠ estimate

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Nilkamal reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: Quarterly operating profit margin falling below 7.5%.

Nilkamal is on 2 of our India lists: Undervalued stocks and Momentum stocks.

Nilkamal Ltd earned ₹68.0 Cr of net profit in the Sep 2026 quarter, +100.0% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹116 Cr. Over 10 years profit has grown 0.0% a year on average. That is 6.0% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹34.0 Cr.

For the full year, FY26 profit was ₹116 Cr (+8.4% on the year before).

Why profit moved: revenue changed +16.3% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +49.3% and revenue +7.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. revenue ₹820 Cr and profit ₹24 Cr as reported.

FY27-Q2. revenue ₹1,126 Cr and profit ₹68 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Nilkamal Ltd reported ₹1,126 Cr of revenue in the Sep 2026 quarter, +16.3% on the same quarter a year earlier. Over 10 years it has grown 7.0% a year on average. The last full year, FY26, came in at ₹3,778 Cr. The last four reported quarters add to ₹3,873 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹3,778 Cr, +14.0% on the year before.

Recent pace: the last four quarters grew +7.4% on average, against 7.0% a year over the longer run, so this year is growing at about the same pace as its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +7.6%, against +10.0% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +51.4%, against +17.1% a year (accelerating).

FY27-Q1. revenue ₹820 Cr and profit ₹24 Cr as reported.

FY27-Q2. revenue ₹1,126 Cr and profit ₹68 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Nilkamal Ltd's operating margin was 12.0% in the Sep 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 8.0% and 13.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Nilkamal expanded operating margins from 7% in June 2025 to 9% in June 2026, generating a 60.0% year-on-year rise in net profit to ₹24 crore. Fixed cost absorption across automated molding lines and material handling products enables incremental volume to drop efficiently to operating profit.

Why the margin moved: operating margin changed +3.2 percentage points on the year while gross margin changed −0.2 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY27-Q1. revenue ₹820 Cr and profit ₹24 Cr as reported.

FY27-Q2. revenue ₹1,126 Cr and profit ₹68 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 233% of Nilkamal Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹306 Cr of operating cash against ₹116 Cr of profit. After ₹184 Cr of spending on assets, ₹122 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 233% of profit came in as cash: the cash cycle got 39 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 1.7× depreciation over three years. The next section checks what that spending is building.

Nilkamal Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 109 days in FY26, down from 148 days in FY21. It spent ₹626 Cr on assets over the last 3 years. Customers take 45 days to pay, and stock sits for 110 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. Demand from e-commerce logistics, automotive, and retail warehousing supports higher-margin material handling products relative to commoditized plastic chairs, buffering company-wide operating margin near 9% to 10% through economic cycles.

At FY26 sales of ₹3,778 Cr, each day of that cycle ties up about ₹10.4 Cr, so roughly ₹1,128 Cr is tied up in the business at any time.

FY26: customers took 45 days to pay and stock sat for 110 days, about 3.6 months of sales sitting as stock, for a full cycle of 109 days, shorter than FY21's 148.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 110 days. Customers pay about 45 days after that. Suppliers are paid at 46 days. Together that makes the 109-day cycle.

Spending on assets: ₹626 Cr over the last 3 years, against ₹377 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹22.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Nilkamal Ltd's P/E is 17.8×, near the low end of its own history: it has been lower only 24% of the time. Its usual P/E (the middle reading) is 22.7×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹106.46.