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Nilkamal Limited (523385) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Nilkamal Limited ₹778, price ₹1,877, upside -58.6%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Consumer Goods · IN · ISIN INE310A01015

NL Thin data Sep 24, 2026

Nilkamal Limited

523385 · BSE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value ₹777.53 · Strongly overvalued (−58.6%)
!Quality 55/100
!Expensive Growth (revenue 5y +8.0 %/yr)
!Thin margins · 4.3% net margin (TTM)
✓Low debt
!2.1% dividend yield · Watch coverage
!Narrow moat 37/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹2,808 ₹1,051 Fair Value ₹777.53 May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ₹1,051 – ₹2,808 · fair‑value band ₹757.39 – ₹777.53 · the ₹1,877 price screens above the ₹777.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Nilkamal Limited, together with its subsidiaries, manufactures and sells plastic products primarily in India. It operates in two segments, Plastics; and Lifestyle Furniture, Furnishings and Accessories.

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Nilkamal Limited, together with its subsidiaries, manufactures and sells plastic products primarily in India. It operates in two segments, Plastics; and Lifestyle Furniture, Furnishings and Accessories. The company offers various material handling products, including plastic crates and pallets, insulated ice boxes and fish tubs, waste management tools, road safety products, hospitality solutions, aquaculture fish cages, manhole chambers, ripening solutions, material handling equipment, and metal shelving and racking systems. It also provides home, office, education, health care, and CSR furniture in various materials, as well as upholstered products; plastic chairs and mattresses; and polyproplyne structured boards, which is used in construction, automotive, steelworks, furniture, F&B, advertising, décor, and logistics industries for protection, packaging, printing, and paneling. As of March 31, 2020, the company operated 26 retail stores under the @home brand name, as well as 40 Nilkamal furniture Ideas stores. The company sells its products through retail stores, dealers' outlets and institutions, and online shopping sites. It also exports its products to approximately 30 countries. Nilkamal Limited was founded in 1934 and is headquartered in Mumbai, India.

Stock analysis

Nilkamal Limited (523385) currently trades at ₹1,877, while our model-based Fair Value estimate is ₹777.53, 58.6% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ₹1,361 per share, and 2 of the 16 models we run sit above the ₹1,877 price.

Bear case: the Dividend Discount group reads lowest at ₹201.13, and 14 of the 16 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹757.39 (bear) to ₹777.53 (bull), the price of ₹1,877 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 55/100 (solid quality), in the Consumer Goods sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Nilkamal Limited reported revenue of ₹33.1B in FY2025 versus ₹20.9B in FY2021, a compound +12.2%/yr. Reported net income was ₹1.1B in FY2025, compounding −1.5%/yr from FY2021.

Key figures

Market cap ₹28.0B (≈ $291M) · P/E ratio 34.9 · P/S ratio 1.12 · EPS (TTM) ₹55.34 · Dividend yield 2.1% · Net margin 3.2% · Return on equity 8.1% · Return on assets (EBIT) 7.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 12% below its 52-week high and 79% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Goods peers we cover trades at −30% fair-value upside, at −59%, 523385 screens richer than that median.

Fair Value models

Bear ₹757.39 Fair Value ₹777.53 Bull ₹777.53
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹15.34 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income ₹736.12 ₹742.07 ₹788.29 76
EPV ₹530.84 ₹602.43 ₹660.53 74
ROIC Compounder ₹530.84 ₹602.43 ₹660.53 72
All 16 models by family
Earnings-Based
Graham-Dodd ₹484.97 ₹1,367 ₹1,799 65
Lynch FV ₹277.08 ₹395.82 ₹514.57 61
PEG = 1.0 ₹277.08 ₹395.82 ₹514.57 57
EPV ₹530.84 ₹602.43 ₹660.53 74
Dividend Discount
Gordon GGM ₹139.31 ₹233.33 ₹302.86 68
DDM Multi-Stage ₹139.31 ₹201.13 ₹251.03 67
Multiples
P/E Multiple ₹1,177 ₹1,569 ₹1,961 63
P/S Multiple ₹909.32 ₹1,212 ₹1,516 58
P/B Multiple ₹909.32 ₹1,212 ₹1,516 55
EV/EBIT ₹1,416 ₹1,910 ₹2,404 66
EV/EBITDA ₹1,647 ₹2,217 ₹2,788 67
EV/Revenue ₹933.04 ₹1,361 ₹1,789 53
Asset-Based
NCAV (Graham) ₹498.31 ₹667.73 ₹996.61 54
Economic Profit
Residual Income ₹736.12 ₹742.07 ₹788.29 76
ROIC Compounder ₹530.84 ₹602.43 ₹660.53 72
Growth Earnings
Growth-Adj P/E ₹937.29 ₹1,339 ₹1,741 67

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Quality Score breakdown

Overall quality 55/100

Of which business quality 56 · Market factors (momentum, volatility) 76

Profitability 58
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 88
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.0%
Start year 2020 (pandemic). Over 10 years: +5.7% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.0%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+0.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.9%
Dividend (yield on the price)2.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 5%

523385 screens overvalued: fair value 59% below the price. Compare with KRYPTONQ →

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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Rubber & Plastics” was too small, so the broader sector is used.)Consumer Discretionary · 3588 stocks

Beats the sector median on 6/13 measures
A mixed picture versus its sector peers.
Valuation
Quality Score 55 · Above median
Fair Value upside −23.2% · Below median
Profitability
Return on equity (TTM) 8.1% · Above median
Return on assets 4.8% · Above median
Net margin (TTM) 4.3% · Above median
Operating margin (TTM) 6.1% · Above median
Growth and dividend
Revenue growth −7.2% · Bottom 25%
Dividend yield (TTM) 2.1% · Below median
Balance sheet
Debt / equity 0.14× · Above median

Valuation Multiplesvs Consumer Discretionary median · lower = cheaper

P/E (TTM) 34.9× · Priciest 25%
P/B 1.31× · Cheaper than median
P/S (TTM) 1.01× · Pricier than median
EV/EBITDA 11.3× · Pricier than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Nilkamal Limited · Fair Value
₹777.53 −59%Fair Value
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Cite: Fair Value Calculator (2026). "Nilkamal Limited Fair Value". https://www.fairvalue-calculator.com/stock/523385

Frequently asked questions

Is Nilkamal Limited (523385) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹777.53 versus a price of ₹1,877, about −59% upside (overvalued).
What is the fair value of 523385?
Our model-based fair value for Nilkamal Limited is ₹777.53 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹1,877.
What is the quality score of 523385?
Nilkamal Limited has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Nilkamal Limited (523385)?
Our model-based price target is the fair value of ₹777.53 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario ₹757.39, optimistic scenario ₹777.53. It is a calculation from audited fundamentals, not an analyst target.
What is the Nilkamal Limited stock forecast for 2026?
Our models put fair value at ₹777.53, about −59% upside versus a price of ₹1,877 (overvalued). Cautious scenario ₹757.39, optimistic scenario ₹777.53. The calculation is refreshed regularly with new filings.
What is the revenue of Nilkamal Limited (523385)?
Nilkamal Limited reported trailing-twelve-month revenue of about ₹19.3B (latest available figure, as of Sep 24, 2026).
Does Nilkamal Limited pay a dividend?
Nilkamal Limited currently shows a dividend yield of about 2.13% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Nilkamal Limited (523385)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nilkamal Limited it is ₹777.53 per share (as of Sep 24, 2026), against a price of ₹1,877. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Nilkamal Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 523385 trades above its calculated fair value: price ₹1,877, fair value ₹777.53, a gap of about −59% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 523385?
No. The price is what the market pays today (₹1,877); the fair value is what the company's own numbers justify (₹777.53). For Nilkamal Limited the two are ₹1,100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nilkamal Limited worth?
The market values Nilkamal Limited at about ₹28.0B (market capitalisation, as of Sep 24, 2026). Per share that is ₹1,877; our models calculate a fair value of ₹777.53 per share.
What do the bullish and bearish scenarios say about 523385?
Our models span a range for Nilkamal Limited: cautious scenario ₹757.39, base ₹777.53, optimistic ₹777.53 per share (as of Sep 24, 2026, price ₹1,877). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 523385?
Nilkamal Limited trades at a price-to-earnings ratio of 34.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹777.53 is built from several models across several years. Other multiples: P/B 1.3, P/S 1.0, EV/EBITDA 11.3.
How solid is the balance sheet of Nilkamal Limited (523385)?
Balance-sheet figures for Nilkamal Limited (as of Sep 24, 2026): return on equity 8.1%, debt of 0.14 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 523385 from its 52-week high?
Nilkamal Limited trades at ₹1,877, about 12% below its 52-week high of ₹2,121 and 79% above the low of ₹1,051 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹777.53 is for.
Which stocks are comparable to Nilkamal Limited?
From the same area (Consumer Goods) we also value KRYPTONQ, HALDYNGL, TRITONV, Saint-Gobain Sekurit India Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Nilkamal Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹1,877, calculated fair value ₹777.53 (−59%), Quality Score 55/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 523385 calculated?
We run Nilkamal Limited through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹777.53, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Nilkamal Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Nilkamal Limited (523385)?
The closing price on Oct 1, 2026 was ₹1,877. Our model-based fair value is ₹777.53, about −59% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nilkamal Limited right now?
The price sits above even our optimistic bull case (₹777.53). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (₹757.39 to ₹777.53), unusually little disagreement for a valuation.

Key figures of Nilkamal Limited

How large is the market capitalisation of Nilkamal Limited (523385)?
The market capitalisation of Nilkamal Limited is ₹28.0B (≈ $291M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Nilkamal Limited (523385)?
The price-to-sales ratio of Nilkamal Limited is 1.12 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nilkamal Limited (523385)?
Earnings per share at Nilkamal Limited are ₹55.34 (price ÷ EPS = P/E 34.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nilkamal Limited (523385)?
The dividend yield of Nilkamal Limited is 2.1% (payout 72.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nilkamal Limited (523385)?
The net margin of Nilkamal Limited is 3.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nilkamal Limited (523385)?
The return on equity (ROE) of Nilkamal Limited is 8.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Nilkamal Limited (523385)?
On an EBIT basis the return on assets of Nilkamal Limited is 7.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Nilkamal Limited (523385)?
The operating margin of Nilkamal Limited is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nilkamal Limited (523385)?
Revenue at Nilkamal Limited is growing −7.2% versus a year earlier (3y avg +6.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Nilkamal Limited (523385)?
Earnings per share at Nilkamal Limited are growing +1.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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