# Nilkamal share price today (Nilkamal Ltd, NSE: NILKAMAL)

> Nilkamal share price today: ₹1,897.90 at the NSE close on 3 November 2026, up 25.5% in a year. Nilkamal (NSE: NILKAMAL) is worth ₹2,831 crore, trades at a P/E of 16.8 and has closed between ₹1,126.70 and ₹2,116.50 over the past 52 weeks. > Nilkamal Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 20% of past readings. NILKAMAL · Plastics - Plastic & Plastic Products · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/nilkamal-ltd

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## Key numbers

- Business trend: Getting better, from the last 12 quarters
- Price: ₹1,897.90 (+25.5% in a year)
- P/E: 16.8× (lower than 80% of the last 11 years)
- Revenue (Sep 2026): ₹1,126 Cr (+16.3% on a year ago)
- Profit (Sep 2026): ₹68.0 Cr (+100.0% on a year ago)
- Operating margin: 12.0% (+3.0 points on a year ago)
- ROCE: 11%, FY26
- ROIC: 7.9%, against a 12.0% cost of capital: −4.1 points

The main question: domestic institutions moved −6.4 percentage points over 8 quarters while the business went the other way. ## What is the Nilkamal share price today? Nilkamal Ltd's share price was ₹1,897.90 at the close on 3 November 2026. It has been rising for 13 weeks. That is 16.4% 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 78% of the way up from that low. 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 +72% 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. ## What changed at Nilkamal this quarter? 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. ## What are Nilkamal's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,126 crore | ₹968 crore | +16.3% |
| Profit | ₹68.0 crore | ₹34.0 crore | +100.0% |
| Earnings per share | ₹45.41 | ₹22.50 | +101.8% |
| Operating margin | 12.0% | 9.0% | +3.0 points |

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.)

## What is the Nilkamal share price history? Nilkamal closed at ₹1,897.90 on 3 November 2026, up 25.5% from ₹1,512.60 a year earlier (31 October 2025) and down 20.8% over five years. Its highest weekly close since March 2016 was ₹2,922.40 on 6 August 2021. ### Nilkamal share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,622.70 | +17.0% |
| 1 month ago · 1 Oct 2026 | ₹1,871.80 | +1.4% |
| 6 months ago · 30 Apr 2026 | ₹1,298.60 | +46.1% |
| 1 year ago · 31 Oct 2025 | ₹1,512.60 | +25.5% |
| 3 years ago · 3 Nov 2023 | ₹2,205.90 | −14.0% |
| 5 years ago · 4 Nov 2021 | ₹2,395.35 | −20.8% |
| 10 years ago · 4 Nov 2016 | ₹1,648.00 | +15.2% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹1,100.50 | +72.5% |
| Highest weekly close since March 2016 · 6 Aug 2021 | ₹2,922.40 | −35.1% |
| Lowest weekly close since March 2016 · 2 Aug 2019 | ₹929.60 | +104.2% |
| 52-week high (weekly close) · 4 Sep 2026 | ₹2,116.50 | −10.3% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹1,126.70 | +68.4% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Nilkamal? 3 Nov 2026: Nilkamal closed at ₹1,897.90, up 17.0% on the week and up 1.4% 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.)

## What dividend does Nilkamal pay? Nilkamal paid ₹20 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 1.05% at the ₹1,897.90 close on 3 November 2026. The last was a dividend of ₹20 a share, ex-date 10 July 2026. ### Nilkamal dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 10 Jul 2026 | ₹20 | Dividend |
| 11 Jul 2025 | ₹20 | Dividend |
| 12 Jul 2024 | ₹20 | Dividend |
| 30 Jun 2023 | ₹20 | Dividend |
| 7 Jul 2022 | ₹15 | Dividend |
| 27 Jul 2021 | ₹10 | Dividend |

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. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did Nilkamal management say on the latest results call? 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 the future of Nilkamal? What is changing in the business? 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.)

## What could change the Nilkamal story? What are the risks? 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.)

## What to watch in Nilkamal's next results? 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%. | What to check | Why |
| --- | --- |
| Quarterly operating profit margin falling below 7.5%. | Polymer Raw Material Price Volatility |
| DII shareholding falling below 13.0%. | Institutional Shareholder Distribution |
| Two consecutive quarters of negative year-on-year revenue growth exceeding 10%. | Consumer Plastic Furniture Demand Deceleration |
| Annual return on capital employed declining below 9.5%. | Sub-Threshold Return on Equity Profile |
| Inventory days climbing back above 130 days. | Working Capital Elongation in Retail Footprint |

## Which stock lists is Nilkamal on? Nilkamal is on 2 of our India lists: Undervalued stocks and Momentum stocks. - [Undervalued stocks Profit growth x: 1.5142857142857142](https://www.sectoralpha.in/markets/in/deep-value-stocks)
- [Momentum stocks Market cap cr: 2857.9209729563295](https://www.sectoralpha.in/momentum-stocks-india)

## Is Nilkamal profitable? 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. 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. ## How much revenue does Nilkamal make, and is it growing? 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. 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. ## How much of every ₹100 of sales does Nilkamal keep? 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. 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. ## Is Nilkamal's profit turning into cash? 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. 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. ## Where does Nilkamal's cash go? 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. 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. ## What is Nilkamal's P/E ratio, and how does it compare with its own history? Nilkamal Ltd's P/E is 16.8×, near the low end of its own history: it has been lower only 20% 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. 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. Why the multiple is where it is: over the past year earnings per share moved +8.6% while the price moved +25.5%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved −4.5% a year; about +3.3% a year came from earnings growth and about −7.8 percentage points from the multiple (the market paying less); over 10 years the price moved +1.4% a year; about +3.8% a year came from earnings growth and about −2.4 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Nilkamal share price assume? Worked out from its price on 27 August 2026, Nilkamal Ltd's share price assumed profit growth of about 15.9% a year. Over the past 10 years its profit actually grew 0.0% a year. Today its P/E is 16.8×, lower than 80% of its own last 11 years. This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Nilkamal business getting better or worse? Nilkamal Ltd's business is getting better. Profit growth hit its low 8 quarters ago at −18.7% and has recovered to +51.4%, with ROCE steady at 10.8%. This is based on 12 quarters of 4 measures. Why it matters: a lasting rise from a low is what this page is built to show. ## What is the Nilkamal story, and has it been checked? Nilkamal Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: EARLY EXPANSION. Still open: A reversal in inventory discipline where inventory days expand back above 135 days alongside operating margins falling below 7.5% across two consecutive quarters. Our read, 22 August 2026. What is proven. What is not proven yet. A reversal in inventory discipline where inventory days expand back above 135 days alongside operating margins falling below 7.5% across two consecutive quarters. What would change our mind. A reversal in inventory discipline where inventory days expand back above 135 days alongside operating margins falling below 7.5% across two consecutive quarters. The test written in advance. A reversal in inventory discipline where inventory days expand back above 135 days alongside operating margins falling below 7.5% across two consecutive quarters. Measured by: the thesis as written as stated by the next result. The test written in advance. Polymer Raw Material Price Volatility. Measured by: Polymer Raw Material Price Volatility Quarterly operating profit margin falling below 7.5%. by the next result. The test written in advance. Institutional Shareholder Distribution. Measured by: Institutional Shareholder Distribution DII shareholding falling below 13.0%. by the next result. What the company does. 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. What the surface reading misses. The surface reading is: Revenue contracted 7.1% year-on-year in June 2026 to ₹820 crore from ₹883 crore in June 2025, indicating top-line deceleration. The research reads it further: Top-line contraction was accompanied by 200 bps operating margin expansion (7% to 9%) and 60.0% PAT growth, demonstrating that price discipline and product mix toward material handling protected profitability despite consumer furniture demand softness. What the surface reading misses. The surface reading is: Net profit surged 60.0% indicating rapid operational acceleration. The research reads it further: Top-line contracted 7.1% (₹883 Cr to ₹820 Cr); the 60.0% PAT surge is primarily a base-effect recovery off depressed June 2025 margins (7% OPM, ₹15 Cr PAT) combined with 200 bps margin expansion back to normalized 9% levels. Lever 1 · Operating leverage: building. Operating margin expansion from 7% to 9-10% through product mix and polymer cost stability. What proves it keeps working: Operating Leverage and Margin Stabilization. It stops working if Polymer resin input costs surge without corresponding downstream price pass-through. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026. The story check is re-scored every results season; the record below never changes. ## How much does Nilkamal earn on its capital? Nilkamal Ltd earned a ROCE of 11% in FY26. That is up from a low of 9% in FY22. Its return on capital used (ROIC) is 4.1 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 3.1% net margin and 1.50× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 3.1% net margin × 1.50× asset turnover × 1.60× leverage (assets divided by equity) ≈ 7.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 7.9% − 12.0% = −4.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Nilkamal have too much debt? Nilkamal Ltd has total debt of ₹418 Cr against shareholder equity of ₹1,579 Cr as of Jun 2026, so its debt is 0.26× its equity, which is very little. Year by year, that ratio went from 0.29 in FY22 to 0.26 in FY26. So the returns on this page come from the business, not from borrowed money. Why this happened. Between fiscal 2022 and fiscal 2026, Nilkamal tightened inventory days by 35 days, reducing the overall cash conversion cycle by 30 days to 109 days. This structural improvement liberated ₹48 crore of working capital in fiscal 2026, driving operating cash flow to ₹306 crore and providing internal funding for both capex and debt paydown. ## What is the Nilkamal shareholding pattern? Domestic institutions cut their stake in Nilkamal Ltd by 6.4 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 7.9% of the company. Foreign institutions moved −0.1 points over the same period, to 1.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −6.4 points over 8 quarters, to 7.9%; Foreign institutions: −0.1 points over 8 quarters, to 1.0%; Promoters: +0.0 points over 8 quarters, to 64.5%. Why the owners changed: domestic institutions drove it (−6.4 points). They reduced their stake. ## How far is Nilkamal from balance-sheet trouble? For Nilkamal Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Nilkamal rank in its industry? 65.1 out of 100, rank 1 of 8 in Plastics - Plastic & Plastic Products, with 100% of the evidence available. Nilkamal Ltd scores 65.1 out of 100 against the 8 companies it is compared with in Plastics - Plastic & Plastic Products, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 24.9 + 9.7 + 12.9 + 17.6 = 65.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Nilkamal compared with? Nilkamal ranks 1 of 8 Plastics - Plastic & Plastic Products companies on the 4-Factor Sector Score, with 65.1 out of 100. 1. Nilkamal Ltd this page NILKAMAL · leader · Most evidence points up · 100% evidence 65.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.9/35 · Revenue 7.6% · Profit 51.4% · Operating margin change 3 points · 100% evidence Capital efficiency 9.7/25 · ROCE 10.6% · Operating margin 12% · 100% evidence Valuation 12.9/20 · P/E 17.2× · PEG 0.7 · 100% evidence Relative strength 17.6/20 · Lead over its industry 14.6% · Lead over NIFTY 500 36.4% · 1 year 28.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.9 + 9.7 + 12.9 + 17.6 = 65.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Mayur Uniquoters Ltd](https://www.sectoralpha.in/stocks/mayur-uniquoters-ltd) MAYURUNIQ · turning · Most evidence points up · 96% evidence 65.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.3/35 · Revenue 15.4% · Profit 34.4% · Operating margin change 2 points · 88% evidence Capital efficiency 16.3/25 · ROCE 24.5% · Operating margin 22% · 100% evidence Valuation 16.1/20 · P/E 15× · PEG 0.62 · 100% evidence Relative strength 6.4/20 · Lead over its industry -0.9% · Lead over NIFTY 500 17.3% · 1 year 31.2% · 100% evidence · 1 of 12 weeks ahead Exact sum: 26.3 + 16.3 + 16.1 + 6.4 = 65.1 · What this means: Earnings are strong; relative strength in its sector is -0.9% and the one-year return is 31.2%. 3. [Kingfa Science & Technology (India) Ltd](https://www.sectoralpha.in/stocks/kingfa-science-technology-indialtd) KINGFA · breaking out · Evidence leans up · 96% evidence 63.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.2/35 · Revenue 24.1% · Profit 46.1% · Operating margin change 3 points · 88% evidence Capital efficiency 15.9/25 · ROCE 23.2% · Operating margin 16% · 100% evidence Valuation 3.6/20 · P/E 40.7× · PEG 3.29 · 100% evidence Relative strength 20.0/20 · Lead over its industry 20.1% · Lead over NIFTY 500 42.4% · 1 year 46.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.2 + 15.9 + 3.6 + 20 = 63.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Arrow Greentech Ltd](https://www.sectoralpha.in/stocks/arrow-greentech-ltd) ARROWGREEN · losing its lead · Evidence leans up · 96% evidence 60.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.6/35 · Revenue 12.8% · Profit 16.7% · Operating margin change 7 points · 88% evidence Capital efficiency 18.5/25 · ROCE 29.6% · Operating margin 41% · 100% evidence Valuation 15.4/20 · P/E 16.4× · PEG 0.45 · 100% evidence Relative strength 10.7/20 · Lead over its industry 5.4% · Lead over NIFTY 500 23.7% · 1 year 13% · 100% evidence · 10 of 12 weeks ahead Exact sum: 15.6 + 18.5 + 15.4 + 10.7 = 60.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 5. [Shaily Engineering Plastics Ltd](https://www.sectoralpha.in/stocks/shaily-engineering-plastics-ltd) SHAILY · leader · Evidence leans up · 100% evidence 55.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.7/35 · Revenue 18.3% · Profit 27.4% · Operating margin change -1 points · 100% evidence Capital efficiency 20.9/25 · ROCE 29.3% · Operating margin 30% · 100% evidence Valuation 1.0/20 · P/E 78× · PEG 4.29 · 100% evidence Relative strength 14.0/20 · Lead over its industry 6.9% · Lead over NIFTY 500 26.6% · 1 year 39.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 19.7 + 20.9 + 1 + 14 = 55.6 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 6. [Plastiblends India Ltd](https://www.sectoralpha.in/stocks/plastiblends-india-ltd) PLASTIBLEN · quiet · Evidence leans up · 100% evidence 51.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 9.3% · Profit 39.4% · Operating margin change 1 points · 100% evidence Capital efficiency 6.5/25 · ROCE 10.7% · Operating margin 7% · 100% evidence Valuation 20.0/20 · P/E 9× · PEG 0.34 · 100% evidence Relative strength 1.7/20 · Lead over its industry -16.7% · Lead over NIFTY 500 -0.6% · 1 year -11.6% · 100% evidence · 9 of 12 weeks ahead Exact sum: 22.9 + 6.5 + 20 + 1.7 = 51.1 · What this means: Earnings are strong; relative strength in its sector is -16.7% and the one-year return is -11.6%. 7. [DDev Plastiks Industries Ltd](https://www.sectoralpha.in/stocks/ddev-plastiks-industries-ltd) DDEVPLSTIK · basing · Evidence leans up · 81% evidence 51.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 15.3% · Profit 9.2% · Operating margin change 0 points · 88% evidence Capital efficiency 15.8/25 · ROCE 31% · Operating margin 9% · 100% evidence Valuation 13.2/20 · P/E 11.7× · PEG 1.72 · 100% evidence Relative strength 8.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -4.5% · 1 year -19.5% · 25% evidence · 4 of 12 weeks ahead Exact sum: 13.9 + 15.8 + 13.2 + 8.1 = 51 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Responsive Industries Ltd](https://www.sectoralpha.in/stocks/responsive-industries-ltd) RESPONIND · basing · Most evidence points down · 78% evidence 21.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 0.9/35 · Revenue -18.7% · Profit -73.3% · Operating margin change -9.9 points · 100% evidence Capital efficiency 7.5/25 · ROCE 10.8% · Operating margin 14.5% · 100% evidence Valuation 5.1/20 · P/E 70.2× · PEG 3.05 · 65% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -12.5% · 1 year -26.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 0.9 + 7.5 + 5.1 + 7.5 = 21 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Plastics - Plastic & Plastic Products](https://www.sectoralpha.in/sectors/plastics-plastic-plastic-products), all 8 compared on one page. ## Which companies are close to Nilkamal in size? Nilkamal is the 5th largest of 8 Plastics - Plastic & Plastic Products companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Kingfa Science & Technology (India), Responsive Industries and Mayur Uniquoters. Just below it: DDev Plastiks Industries, Arrow Greentech and Plastiblends India. ### Plastics - Plastic & Plastic Products companies close in size

1. [Kingfa Science & Technology (India) Ltd](https://www.sectoralpha.in/stocks/kingfa-science-technology-indialtd) ₹9,192 crore
2. [Responsive Industries Ltd](https://www.sectoralpha.in/stocks/responsive-industries-ltd) ₹3,864 crore
3. [Mayur Uniquoters Ltd](https://www.sectoralpha.in/stocks/mayur-uniquoters-ltd) ₹3,109 crore
4. Nilkamal Ltd ₹2,907 crore
5. [DDev Plastiks Industries Ltd](https://www.sectoralpha.in/stocks/ddev-plastiks-industries-ltd) ₹2,507 crore
6. [Arrow Greentech Ltd](https://www.sectoralpha.in/stocks/arrow-greentech-ltd) ₹1,050 crore
7. [Plastiblends India Ltd](https://www.sectoralpha.in/stocks/plastiblends-india-ltd) ₹413 crore

[All 8 Plastics - Plastic & Plastic Products companies, largest first](https://www.sectoralpha.in/sectors/plastics-plastic-plastic-products#all-companies)

### Companies close in size in other industries

1. [JTL Industries Ltd](https://www.sectoralpha.in/stocks/jtl-industries-ltd) ₹2,915 crore · Steel - Tubes/Pipes
2. [Refex Industries Ltd](https://www.sectoralpha.in/stocks/refex-industries-ltd) ₹2,910 crore · Refrigeration
3. Nilkamal Ltd ₹2,907 crore
4. [Jubilant Agri & Consumer Products Ltd](https://www.sectoralpha.in/stocks/jubilant-agri-consumer-products-ltd) ₹2,903 crore · Chemicals - Speciality
5. [Indo Tech Transformers Ltd](https://www.sectoralpha.in/stocks/indo-tech-transformers-ltd) ₹2,884 crore · Capital Goods - Transformers

## What else do people ask about Nilkamal? ### What is Nilkamal's share price today? Nilkamal Ltd's share price is ₹1,897.90, +25.5% over the past year. The whole company is worth ₹2,831 Cr on the market. In the last 52 weeks it traded between ₹1,127 to ₹2,117; today it is 78% of the way up from the low, 16.4% above its 200-day average (as of 3 November 2026). ### What were Nilkamal's latest quarterly results? Nilkamal Ltd reported revenue of ₹1,126 Cr and net profit of ₹68.0 Cr for the Sep 2026 quarter. Revenue rose 16.3% and profit rose 100.0% compared with a year earlier. Earnings per share were ₹45.41. The operating margin was 12.0%, 3.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Nilkamal's market cap? Nilkamal Ltd's market capitalisation is ₹2,831 Cr at a share price of ₹1,897.90. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Nilkamal performing? Nilkamal Ltd's share price has been rising for 13 weeks. In its latest quarter, revenue rose 16.3% and profit rose 100.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 2 weeks running (as of 3 November 2026). ### Will Nilkamal's share price go up? This page does not forecast Nilkamal Ltd's share price. What it shows instead: the share price is ₹1,897.90, and it has been rising for 13 weeks. Its P/E of 16.8× is higher than 20% of its own last 11 years (as of 3 November 2026). ### Who owns Nilkamal? Promoters own 64.5% of Nilkamal Ltd, foreign institutions 1.0%, domestic institutions 7.9% and the public 26.5% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 6.4 percentage points over 8 quarters (as of 3 November 2026). ### Does Nilkamal have too much debt? No, Nilkamal Ltd has little debt: its debt is 0.27× its equity, and its operating profit is 7 times its interest bill. FY26 borrowings were ₹418 Cr against equity of ₹1,577 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Nilkamal in its business cycle? Nilkamal Ltd's FY26 operating margin was 9.0%, against a 13-year range of 8.0% to 13.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 12.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Nilkamal story? The main question: domestic institutions moved −6.4 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Nilkamal a stock worth studying right now? What the numbers show: Nilkamal Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 20% of past readings. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Nilkamal share price forecast for 2026? 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. What would change the story: A reversal in inventory discipline where inventory days expand back above 135 days alongside operating margins falling below 7.5% across two consecutive quarters. ## Lists

- Undervalued stocks: https://www.sectoralpha.in/markets/in/deep-value-stocks
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

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