# Nirlon share price today (Nirlon Ltd, NSE: NIRLON)

> Nirlon share price today: ₹635.05 at the NSE close on 3 November 2026, up 25.8% in a year. Nirlon (NSE: NIRLON) is worth ₹5,726 crore, trades at a P/E of 16.0 and has closed between ₹488.45 and ₹642.95 over the past 52 weeks. > Nirlon Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 6% of past readings. NIRLON · Realty - Commercial · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/nirlon-ltd

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## Key numbers

- Business trend: Growing steadily, from fewer quarters than usual
- Price: ₹635.05 (+25.8% in a year)
- P/E: 16.0× (lower than 94% of the last 11 years)
- Revenue (Jun 2026): ₹168 Cr (+3.1% on a year ago)
- Profit (Jun 2026): ₹69.0 Cr (+19.0% on a year ago)
- Operating margin: 77.0% (−1.0 points on a year ago)
- ROCE: 31%, FY26
- Profit that came in as cash: 179%, last 3 years

The main question: yearly earnings per share moved +58.6% while the share price moved +25.8%. ## What is the Nirlon share price today? Nirlon Ltd's share price was ₹635.05 at the close on 3 November 2026. It has been rising for 27 weeks. That is 8.0% 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 95% 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 8 weeks in a row. Over the last 11 years the share price moved +234% 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 Nirlon this quarter? 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. ## What dividend does Nirlon pay? Nirlon paid ₹15 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 2.36% at the ₹635.05 close on 3 November 2026. The last was a dividend of ₹15 a share, ex-date 3 September 2026. ### Nirlon dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 3 Sep 2026 | ₹15 | 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. 0 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What are Nirlon's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Nirlon reported revenue of ₹168 crore, up 3.1% from ₹163 crore a year earlier, and a profit of ₹69.0 crore, up 19.0% from ₹58.0 crore. ### Nirlon results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹168 crore | ₹163 crore | +3.1% |
| Profit | ₹69.0 crore | ₹58.0 crore | +19.0% |
| Earnings per share | ₹7.70 | ₹6.48 | +18.8% |
| Operating margin | 77.0% | 78.0% | −1.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Nirlon's management discussed these results on a call held on 11 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Nirlon share price history? Nirlon closed at ₹635.05 on 3 November 2026, up 25.8% from ₹505.00 a year earlier (31 October 2025) and up 47.1% over five years. Its highest weekly close since March 2016 was ₹642.95 on 28 August 2026. ### Nirlon share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹626.50 | +1.4% |
| 1 month ago · 1 Oct 2026 | ₹602.05 | +5.5% |
| 6 months ago · 30 Apr 2026 | ₹570.35 | +11.3% |
| 1 year ago · 31 Oct 2025 | ₹505.00 | +25.8% |
| 3 years ago · 3 Nov 2023 | ₹413.15 | +53.7% |
| 5 years ago · 4 Nov 2021 | ₹431.60 | +47.1% |
| 10 years ago · 4 Nov 2016 | ₹208.05 | +205.2% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹190.00 | +234.2% |
| Highest weekly close since March 2016, also the 52-week high · 28 Aug 2026 | ₹642.95 | −1.2% |
| Lowest weekly close since March 2016 · 23 Dec 2016 | ₹179.00 | +254.8% |
| 52-week low (weekly close) · 5 Dec 2025 | ₹488.45 | +30.0% |

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 Nirlon? 3 Nov 2026: Nirlon closed at ₹635.05, up 1.4% on the week and up 5.5% on the month. 3 Sep 2026: ex-date for a dividend of ₹15 a share. ### Earlier

- 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. - Results for April to June 2026: Revenue up 3.1% and profit up 19.0% on a year earlier. ## What did Nirlon management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/228/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 11 August 2026.)

## What is the future of Nirlon? What is changing in the business? What is changing at Nirlon, from the latest results and calls: contracted rental escalations, near-full occupancy and annual escalation clauses in renewals. - Contracted rental escalations. With the primary asset effectively full, contract escalations are the principal source of rental growth. ⚠ estimate
- Near-full occupancy. Near-full occupancy protects the contracted rent base and limits leasing downtime. ⚠ estimate
- Annual escalation clauses in renewals. New agreements are being pursued with annual escalations rather than periodic step-ups. ⚠ estimate
- GCC demand backdrop. Management cites GCC expansion and Western Suburbs office growth as support for occupancy. ⚠ estimate

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 latest results, written 22 August 2026.)

## What could change the Nirlon story? What are the risks? Occupancy falls or major renewals are signed without escalation protection. ### Each change stops working if

- Contracted rental escalations: Occupancy falls or major renewals are signed without escalation protection. - Near-full occupancy: An anchor tenant exits or renewal negotiations create material vacant space. - Annual escalation clauses in renewals: Upcoming renewal negotiations fail to include annual escalation clauses. - GCC demand backdrop: GCC demand weakens enough to pressure renewals or vacancy. ### The main risks

- Anchor-tenant and single-asset concentration: A single property and a concentrated tenant base leave limited room to absorb a large non-renewal. ✓ fact
- Debt schedule and negative carry: Retained fixed deposits earn below the stated debt cost and the latest debt schedule description changed. ✓ fact
- Margin drift: Margins remain high but are below the earlier range, and the expense bridge remains incomplete. ⚠ estimate
- No disclosed expansion runway: Management has not disclosed a material tenant addition, expansion project or concrete REIT plan. ✓ fact

(Our read after the latest results, written 22 August 2026.)

## What to watch in Nirlon's next results? When Nirlon reports July to September 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. - What to check (from the call)
- Contractual escalations to drive next-quarter license-fee growth; check for any out-of-contract uplift or larger-licensee change. - Operating margin to remain fairly steady; check for any sequential movement outside the contract-led pattern. - Any definitive REIT or broader restructuring announcement beyond the current no-plan stance. - Nirlon House redevelopment to produce a concrete proposal or co-owner approval. ## Which stock lists is Nirlon on? Nirlon is on 3 of our India lists: Momentum stocks, Dividend stocks and Real estate, REIT & cement. - [Momentum stocks Market cap cr: 5832.283858704262](https://www.sectoralpha.in/momentum-stocks-india)
- [Dividend stocks Regular dividend yield (%): 2.32](https://www.sectoralpha.in/dividend-stocks-india)
- [Real estate, REIT & cement Group on the list: Malls, offices and co-working](https://www.sectoralpha.in/sectors/real-estate-stocks-india)

## Is Nirlon profitable? Nirlon Ltd earned ₹69.0 Cr of net profit in the Jun 2026 quarter, +19.0% on the same quarter a year earlier. That is the 8th quarter in a row of profit growth. Full-year FY26 profit was ₹346 Cr. Over 10 years profit has grown 22.9% a year on average. That is 41.1% of the quarter's revenue. The same quarter a year earlier earned ₹58.0 Cr. For the full year, FY26 profit was ₹346 Cr (+58.7% on the year before). Why profit moved: revenue changed +3.1% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +58.5% and revenue +5.0%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Nirlon make, and is it growing? Nirlon Ltd reported ₹168 Cr of revenue in the Jun 2026 quarter, +3.1% on the same quarter a year earlier. That is the 11th 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. The last four reported quarters add to ₹674 Cr. FY26 revenue was ₹669 Cr, +5.2% on the year before. Recent pace: the last four quarters grew +5.0% 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 +5.0%, against +5.0% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +58.0%, against +32.0% a year (accelerating). ## How much of every ₹100 of sales does Nirlon keep? Nirlon Ltd's operating margin was 77.0% in the Jun 2026 quarter, 1.0 percentage points lower than 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. Why this happened. Management identifies contracted escalations as the principal income mechanism and continues to pursue annual escalation clauses in new agreements. Why the margin moved: operating margin changed −1.7 percentage points on the year while gross margin changed −0.4 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Nirlon's profit turning into cash? 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. 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. ## Where does Nirlon's cash go? 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. 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. ## What is Nirlon's P/E ratio, and how does it compare with its own history? Nirlon Ltd's P/E is 16.0×, near the low end of its own history: it has been lower only 6% 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. Why the multiple is where it is: over the past year earnings per share moved +58.6% while the price moved +25.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +8.0% a year; about +24.1% a year came from earnings growth and about −16.1 percentage points from the multiple (the market paying less); over 10 years the price moved +11.8% a year; about +24.7% a year came from earnings growth and about −12.9 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. A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 6.7% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What growth does the Nirlon share price assume? Worked out from its price on 24 August 2026, Nirlon Ltd's share price assumed profit growth of about 6.9% a year. Over the past 10 years its profit actually grew 22.9% a year. Today its P/E is 16.0×, lower than 94% of its own last 11 years. This is a one-day reading, taken on 24 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 Nirlon business getting better or worse? Nirlon Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 31.0%. This is based on 8 quarters of 4 measures, with some gaps. Why it matters: steady growth with healthy returns is how a business compounds over time. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the Nirlon story, and has it been checked? Nirlon Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: CONTRACTION. Our read, 22 August 2026. From the numbers. The…

From the price. Price stage 2, week 27, above its 200-day line, relative strength rising. From the research. Where they disagree. What is proven. What is not proven yet. What would change our mind. The test written in advance. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Anchor-tenant and single-asset concentration. Measured by: Anchor-tenant and single-asset concentration Any disclosed anchor-tenant exit, non-renewal or vacancy increase. by the next result. What the company does. Rental growth is principally contract-led because the primary asset has virtually no vacancy. The tax-regime transition lifted reported earnings, while the September 2025 tax credit must not be treated as recurring operating growth. What the surface reading misses. What the surface reading misses. Lever 1 · Operating leverage: building. With the primary asset effectively full, contract escalations are the principal source of rental growth. What proves it keeps working: Contracted rental escalations. It stops working if Occupancy falls or major renewals are signed without escalation protection. Lever 2 · Value-added mix: building. Near-full occupancy protects the contracted rent base and limits leasing downtime. What proves it keeps working: Near-full occupancy. It stops working if An anchor tenant exits or renewal negotiations create material vacant space. Lever 3 · Management change: building. New agreements are being pursued with annual escalations rather than periodic step-ups. What proves it keeps working: Annual escalation clauses in renewals. It stops working if Upcoming renewal negotiations fail to include annual escalation clauses. Lever 4 · Paying down debt: building. Management cites GCC expansion and Western Suburbs office growth as support for occupancy. What proves it keeps working: GCC demand backdrop. It stops working if GCC demand weakens enough to pressure renewals or vacancy. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Nirlon management deliver what it promised? What Nirlon Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Debt Repayment Schedule Changed · 11 August 2026. In May 2026, management described a repayment schedule of 5% annually for five years followed by a bullet payment. In Aug 2026, management instead stated that repayments would be 5% annually and then 25%, implying a materially different post-amortization schedule that was not explained. Capital Allocation & Dividend Strategy Pivot · 26 May 2026. In the Nov 2025 call, management stated they would maximize shareholder distributions using their surplus cash flows. Contradictory Tax Regime Decision · 17 November 2025. Management previously stated they had until September 2026 to decide on the FY26 tax regime, linking the delay to evaluating restructuring options. In the August 2025 call, they reiterated having ample time to decide. However, in the November 2025 call, they abruptly announced a decision had been made to move to the new regime effective Q2 FY26, contradicting the prior timeline without providing the promised clarity on restructuring. Earlier call (Aug 2025): “So, theoretically, one has up to September, approximately September 26 to decide. But as you know, we are acutely aware of this issue. And once any decision is taken in this regard, we will communicate that to you.” Later call (Nov 2025): “the company has decided to move to the new tax regime for FY26 from Q2 FY26 onwards.”

Strategic Incoherence on Restructuring · 17 November 2025. In the May 2025 call, management affirmed a direct link between staying in the old tax regime and keeping restructuring options like a REIT open. However, after announcing the switch to the new tax regime in November 2025, a move that financially disadvantages a REIT structure, management refused to clarify the status of the long-pending restructuring. This action contradicts the previously stated strategic rationale, leaving shareholders uncertain of the company's direction. Earlier call (May 2025): “Yes. As and when we have anything significant which is different from what we are doing now, we will, of course, tell you.” Later call (Nov 2025): “We don”. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Nirlon earn on its capital? Nirlon Ltd earned a ROCE of 31% in FY26. That is up from a low of 5% in FY14. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 51.7% net margin and 0.30× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 51.7% net margin × 0.30× asset turnover × 4.81× leverage (assets divided by equity) ≈ 74.6% on equity. The margin does most of the work; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 6.7% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Nirlon have too much debt? Nirlon Ltd had ₹1,147 Cr of borrowings against ₹468 Cr of equity in FY26, so its debt is 2.45× its equity. Its operating profit is 5 times its interest bill. Over 5 years borrowings went from ₹978 Cr to ₹1,147 Cr. Over the last 3 of those years it spent ₹69.0 Cr on assets. Why this happened. The demand backdrop supports retention and renewal discussions, but it does not create a disclosed expansion runway for the existing asset. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 6.7% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Nirlon shareholding pattern? Foreign institutions cut their stake in Nirlon Ltd by 5.7 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 4.6% of the company. Domestic institutions moved −4.8 points over the same period, to 0.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why this happened. Annual escalation clauses make rent growth more evenly distributed, although management has not guided to a quantified portfolio-wide outcome. Over the last two years: Foreign institutions: −5.7 points over 8 quarters, to 4.6%; Domestic institutions: −4.8 points over 8 quarters, to 0.0%; Promoters: −0.1 points over 8 quarters, to 67.7%. Why the owners changed: foreign institutions drove it (−5.7 points), together with domestic institutions (−4.8 points). They reduced their stake. ## How far is Nirlon from balance-sheet trouble? For Nirlon 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 Nirlon rank in its industry? 71.0 out of 100, rank 1 of 3 in Realty - Commercial, with 75% of the evidence available. Nirlon Ltd scores 71.0 out of 100 against the 3 companies it is compared with in Realty - Commercial, 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: 19.8 + 22 + 13.4 + 15.8 = 71. 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 Nirlon compared with? Nirlon ranks 1 of 3 Realty - Commercial companies on the 4-Factor Sector Score, with 71.0 out of 100. 1. Nirlon Ltd this page NIRLON · breaking out · Most evidence points up · 75% evidence 71.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.8/35 · Revenue 5% · Profit 58% · Operating margin change -1 points · 83% evidence Capital efficiency 22.0/25 · ROCE 30.8% · Operating margin 77% · 76% evidence Valuation 13.4/20 · P/E 15.9× · PEG n/a · 35% evidence Relative strength 15.8/20 · Lead over its industry 8.3% · Lead over NIFTY 500 16.1% · 1 year 23.4% · 100% evidence · 3 of 12 weeks ahead Exact sum: 19.8 + 22 + 13.4 + 15.8 = 71 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Phoenix Mills Ltd](https://www.sectoralpha.in/stocks/phoenix-mills-ltd) PHOENIXLTD · turning · Evidence leans up · 79% evidence 64.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 12.9% · Profit 18.9% · Operating margin change 2 points · 95% evidence Capital efficiency 14.2/25 · ROCE 12.4% · Operating margin 62% · 76% evidence Valuation 9.5/20 · P/E 53.1× · PEG n/a · 35% evidence Relative strength 17.1/20 · Lead over its industry 5.4% · Lead over NIFTY 500 13.3% · 1 year 16.3% · 100% evidence · 4 of 12 weeks ahead Exact sum: 23.6 + 14.2 + 9.5 + 17.1 = 64.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [NESCO Ltd](https://www.sectoralpha.in/stocks/nesco-ltd) NESCO · turning · Evidence leans down · 79% evidence 46.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.6/35 · Revenue 13.1% · Profit -2.7% · Operating margin change -1 points · 95% evidence Capital efficiency 19.1/25 · ROCE 18.5% · Operating margin 56% · 76% evidence Valuation 12.5/20 · P/E 17.3× · PEG n/a · 35% evidence Relative strength 3.9/20 · Lead over its industry -14.9% · Lead over NIFTY 500 -8.2% · 1 year -27.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.6 + 19.1 + 12.5 + 3.9 = 46.1 · 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: [Realty - Commercial](https://www.sectoralpha.in/sectors/realty-commercial), all 3 compared on one page. ## Which companies are close to Nirlon in size? Nirlon is the 3rd largest of 3 Realty - Commercial companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Phoenix Mills and NESCO. It is the smallest. ### Realty - Commercial companies close in size

1. [Phoenix Mills Ltd](https://www.sectoralpha.in/stocks/phoenix-mills-ltd) ₹70,008 crore
2. [NESCO Ltd](https://www.sectoralpha.in/stocks/nesco-ltd) ₹6,985 crore
3. Nirlon Ltd ₹5,689 crore

[All 3 Realty - Commercial companies, largest first](https://www.sectoralpha.in/sectors/realty-commercial#all-companies)

### Companies close in size in other industries

1. [Transrail Lighting Ltd](https://www.sectoralpha.in/stocks/transrail-lighting-ltd) ₹5,695 crore · EPC
2. [Borosil Renewables Ltd](https://www.sectoralpha.in/stocks/borosil-renewables-ltd) ₹5,691 crore · Glass & Glass Products
3. Nirlon Ltd ₹5,689 crore
4. [Cera Sanitaryware Ltd](https://www.sectoralpha.in/stocks/cera-sanitaryware-ltd) ₹5,683 crore · Ceramics/Tiles/Sanitaryware
5. [Rentomojo Ltd](https://www.sectoralpha.in/stocks/rentomojo-ltd) ₹5,645 crore

## What else do people ask about Nirlon? ### What is Nirlon's share price today? Nirlon Ltd's share price is ₹635.05, +25.8% over the past year. The whole company is worth ₹5,726 Cr on the market. In the last 52 weeks it traded between ₹488 to ₹643; today it is 95% of the way up from the low, 8.0% above its 200-day average (as of 3 November 2026). ### What were Nirlon's latest quarterly results? Nirlon Ltd reported revenue of ₹168 Cr and net profit of ₹69.0 Cr for the Jun 2026 quarter. Revenue rose 3.1% and profit rose 19.0% compared with a year earlier. Earnings per share were ₹7.70. The operating margin was 77.0%, 1.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Nirlon's market cap? Nirlon Ltd's market capitalisation is ₹5,726 Cr at a share price of ₹635.05. 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 Nirlon performing? Nirlon Ltd's share price has been rising for 27 weeks. In its latest quarter, revenue rose 3.1% and profit rose 19.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 8 weeks running (as of 3 November 2026). ### Will Nirlon's share price go up? This page does not forecast Nirlon Ltd's share price. What it shows instead: the share price is ₹635.05, and it has been rising for 27 weeks. Its P/E of 16.0× is higher than 6% of its own last 11 years (as of 3 November 2026). ### Who owns Nirlon? Promoters own 67.7% of Nirlon Ltd, foreign institutions 4.6%, domestic institutions 0.0% and the public 27.7% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 5.7 percentage points over 8 quarters (as of 3 November 2026). ### Where is Nirlon in its business cycle? Nirlon Ltd's FY26 operating margin was 78.0%, against a 13-year range of 75.0% to 80.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 77.0%. 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 Nirlon story? The main question: yearly earnings per share moved +58.6% while the share price moved +25.8%. 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 Nirlon a stock worth studying right now? What the numbers show: Nirlon Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 6% of past readings. The main open question: whether the price catches up with earnings that have already grown. 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 Nirlon share price forecast for 2026? What management itself guided: New license agreements are being pursued with annual escalations of approximately 4.5-5%, versus the earlier 15% every three years. What is changing at Nirlon, from the latest results and calls: contracted rental escalations, near-full occupancy and annual escalation clauses in renewals. What would change the story: Occupancy falls or major renewals are signed without escalation protection. ## Lists

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