Nirlon share price today

Nirlon Ltd's share price was ₹638.65 at the close on 5 November 2026. It has been rising for 27 weeks. That is 8.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹488 and ₹643, and at that close it sat 97% 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 Nirlon 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 8 weeks in a row.

Over the last 11 years the share price moved +236% 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.

Two changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) and profit up on a year earlier for 8 quarters in a row.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹168 crore, +3.1% on a year earlier.

   Why: Revenue rose because rent from existing tenants rose under signed contracts.

   Next results: check for any rent rise outside contracts or a change in a large tenant.

   From the earnings call on 11 Aug 2026.

2. Profit up on a year earlier for 8 quarters in a row

   In the June 2026 quarter profit was ₹69 crore, +19% on a year earlier.

Nirlon paid ₹15 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 2.35% at the ₹638.65 close on 5 November 2026. The last was a dividend of ₹15 a share, ex-date 3 September 2026.

Nirlon 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. Nirlon Ltd paid out 78% 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.

For July to September 2026 (the quarter ended 30 September 2026), Nirlon reported revenue of ₹169 crore, up 2.4% from ₹165 crore a year earlier, and a profit of ₹72.0 crore, down 51.4% from ₹148 crore.

Nirlon 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).

The newest call in our records is from 11 August 2026, about April to June 2026; a call about these results is not in our records yet.

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

Nirlon closed at ₹638.65 on 5 November 2026, up 27.1% from ₹502.30 a year earlier (7 November 2025) and up 48.0% over five years. Its highest weekly close since March 2016 was ₹642.95 on 28 August 2026.

Nirlon 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: Nirlon closed at ₹638.65, up 2.5% on the week and up 1.9% on the month. Results for July to September 2026: Revenue up 2.4% and profit down 51.4% on a year earlier.

Earlier

• 3 Sep 2026: ex-date for a dividend of ₹15 a share.
• 11 Aug 2026: Nirlon held its results call for April to June 2026. Management guided: New license agreements are being pursued with annual escalations of approximately 4.5-5%, versus the earlier 15% every three years.

On the call for April to June 2026, held on 11 August 2026, Nirlon's management guided: New license agreements are being pursued with annual escalations of approximately 4.5-5%, versus the earlier 15% every three years.

“Essentially, as of now, we have no concrete plans to convert to a REIT. As we have said in the past, if we have anything significant to say on this front in terms of any significant change in the structure of the company or restructuring, we will let you know.”Rahul D. Sagar, CEO & ED, on the call for April to June 2026

What management guided

• Remaining FY27 rental growth expected predominantly from contracts; FY26-27 described as quiet for significant expiries, with no larger-licensee change signaled.
• Operating margin expected to remain fairly steady under current contracts; improvement remains the objective without a quantified goal.
• Regular NKP capital spending to continue for upgrades and Grade A standards; no significant additional or expansion capital spending planned.
• Debt repayment starts May 2027 at 5% annually over the next few years, followed by 25%, under the lender agreement.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 11 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Nirlon reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Contractual escalations to drive next-quarter license-fee growth; check for any out-of-contract uplift or larger-licensee change.

Nirlon is on 3 of our India lists: Momentum stocks, Dividend stocks and Real estate, REIT & cement.

Nirlon Ltd earned ₹72.0 Cr of net profit in the Sep 2026 quarter, −51.4% on the same quarter a year earlier. Full-year FY26 profit was ₹346 Cr. Over 10 years profit has grown 22.9% a year on average. That is 42.6% of the quarter's revenue. The same quarter a year earlier earned ₹148 Cr.

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

For the full year, FY26 profit was ₹346 Cr (+58.7% on the year before).

Why profit moved: revenue changed +2.4% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +4.5% and revenue +4.8%. Profit and revenue are moving at about the same pace.

Nirlon Ltd reported ₹169 Cr of revenue in the Sep 2026 quarter, +2.4% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 8.8% a year on average. The last full year, FY26, came in at ₹669 Cr.

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

The last four reported quarters add to ₹678 Cr.

FY26 revenue was ₹669 Cr, +5.2% on the year before.

Recent pace: the last four quarters grew +4.8% on average, against 8.8% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +4.8%, against +4.4% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −11.6%, against +16.0% a year (rolling over).

Nirlon Ltd's operating margin was 78.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 13 years it has been between 75.0% and 80.0%. 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. Management identifies contracted escalations as the principal income mechanism and continues to pursue annual escalation clauses in new agreements.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed −0.5 percentage points on the year while gross margin changed +0.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 179% of Nirlon Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹477 Cr of operating cash against ₹346 Cr of profit. After ₹16.0 Cr of spending on assets, ₹461 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 179% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

Nirlon Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 2 days in FY26, down from 2 days in FY21. It spent ₹69.0 Cr on assets over the last 3 years. Customers take 2 days to pay, and stock sits for 0 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.

At FY26 sales of ₹669 Cr, each day of that cycle ties up about ₹1.8 Cr, so roughly ₹4.0 Cr is tied up in the business at any time.

FY26: customers took 2 days to pay and stock sat for 0 days, about 0.0 months of sales sitting as stock, for a full cycle of 2 days, shorter than FY21's 2.

Spending on assets: ₹69.0 Cr over the last 3 years, against ₹168 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹7.0 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

Nirlon Ltd's P/E is 20.3×, near the low end of its own history: it has been lower only 29% of the time. Its usual P/E (the middle reading) is 24.3×, 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.