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Nilkamal Limited (523385) Fair Value & Analysis

Consumer Goods · IN · Market cap ₹19.5B

NL Nilkamal Limited 523385 · BSE
Price₹1,832
Fair Value₹1,228
Upside-33.0%
Quality55/100
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Expensive Growth
Thin margins · 4.3% net margin
Low debt
2.97% dividend yield
Narrow moat 37/100
Evidence: High Range ₹859.64 – ₹1,596 Share as image

Fair value as of: Aug 17, 2026

From 16 valuation models · updated 2 days ago

Share price +24.3% over the past month.

A solid business, but screening 33% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹1,596). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹859.64 to ₹1,596) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹2,808 ₹1,051 Fair Value ₹1,228 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 17, 2026.

How to read this chart

60‑month range ₹1,051 – ₹2,808 · fair‑value band ₹859.64 – ₹1,596 · the ₹1,832 price screens above the ₹1,228 fair value. Dashed = 300-day average. As of Aug 17, 2026.

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Analysis

Nilkamal Limited (523385) currently trades at ₹1,832, while our model-based Fair Value estimate is ₹1,228, implying the stock looks roughly 33.0% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Goods sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Nilkamal Limited generated revenue of ₹19.3B at a net margin of 4.3%. Revenue declined 7.2% year over year. It earns a return on equity of 8.1%. The stock trades on a trailing P/E of 34.1. Fundamentals as of Aug 17, 2026

Our scenario range runs from ₹859.64 (bear case) to ₹1,596 (bull case); at ₹1,832, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 80% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Goods peers we cover trades at -24% fair-value upside, at -33%, 523385 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income ₹810.95 ₹855.40 ₹924.02 76
ROIC Compounder ₹729.71 ₹862.29 ₹978.29 72
Gordon GGM ₹183.64 ₹381.82 ₹605.72 70
All 16 models by family
Earnings-Based
Graham-Dodd ₹484.97 ₹1,367 ₹1,799 54
Lynch FV ₹277.08 ₹395.82 ₹514.57 50
PEG = 1.0 ₹277.08 ₹395.82 ₹514.57 46
EPV ₹729.71 ₹862.29 ₹978.29 59
Dividend Discount
Gordon GGM ₹183.64 ₹381.82 ₹605.72 70
DDM Multi-Stage ₹183.64 ₹291.11 ₹400.73 61
Multiples
P/E Multiple ₹1,070 ₹1,426 ₹1,783 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 53
EV/EBITDA ₹1,789 ₹2,408 ₹3,026 54
EV/Revenue ₹933.04 ₹1,361 ₹1,789 43
Asset-Based
NCAV (Graham) ₹498.31 ₹667.73 ₹996.61 50
Economic Profit
Residual Income ₹810.95 ₹855.40 ₹924.02 76
ROIC Compounder ₹729.71 ₹862.29 ₹978.29 72
Growth Earnings
Growth-Adj P/E ₹859.64 ₹1,228 ₹1,596 68

Widest divergence: Multiples (₹1,361) versus Dividend Discount (₹291.11). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹19.3B
Revenue growth (YoY) -7.2%
Net margin 4.3%
Return on equity 8.1%
P/E ratio 34.1
Operating margin 6.1%
More key figures
EPS (TTM) ₹55.34
Dividend yield 3.0%
EPS growth (YoY) +1.0%

Figures from reported company fundamentals · as of Aug 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 56 · Market factors (momentum, volatility) 67

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 69
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
₹33.1B
Latest YoY
+3.6%
Avg. growth/yr (3Y) 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.
+6.7%
Avg. growth/yr (5Y) 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.
+8.0%
Avg. growth/yr (11Y) 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.
+6.0%
Revenue +12.2%/yr
FY21 ₹20.9B
FY22 ₹27.3B
FY23 ₹31.3B
FY24 ₹32.0B
FY25 ₹33.1B
Net income −1.5%/yr
FY21 ₹1.1B
FY22 ₹834M
FY23 ₹1.3B
FY24 ₹1.2B
FY25 ₹1.1B

523385 screens 33% overvalued. Compare with Finolex Industries Limited →

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Cite: Fair Value Calculator (2026). "Nilkamal Limited Fair Value". https://www.fairvalue-calculator.com/stock/523385

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Rubber & Plastics stocks, each showing price versus our Fair Value estimate (as of Aug 17, 2026).

Stock Price Fair Value vs Fair Value
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Shaily Engineering Plastics Limited 501423 ₹3,431 ₹1,637 -52%
Rubfila International Limited 500367 ₹68.85 ₹96.62 +40%
Pix Transmissions Limited 500333 ₹1,929 ₹1,143 -41%
International Conveyors Limited 509709 ₹73.86 ₹56.24 -24%
Machino Plastics Limited 523248 ₹269.40 ₹43.10 -84%
Polylink Polymers (India) Limited 531454 ₹22.23 ₹9.41 -58%
Eastern Treads Limited 531346 ₹30.30 ₹3.27 -89%
Krypton Industries Limited 523550 ₹36.95 ₹35.73 -3%
Kunststoffe Industries Limited 523594 ₹19.59 ₹35.60 +82%

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Frequently asked questions

Is Nilkamal Limited (523385) overvalued or undervalued?
As of Aug 17, 2026, our model estimates a fair value of ₹1,228 versus a price of ₹1,832, about −33% (overvalued).
What is the fair value of 523385?
Our model-based fair value for Nilkamal Limited is ₹1,228 (as of Aug 17, 2026), built from audited fundamentals. The current price is ₹1,832.
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 revenue of Nilkamal Limited (523385)?
Nilkamal Limited reported trailing-twelve-month revenue of about ₹19.3B (latest available figure, as of Aug 17, 2026).
What is the net profit margin of 523385?
The net profit margin of Nilkamal Limited is about 4.3%, meaning it keeps roughly 4.3% of revenue as net income. Based on the latest reported figures.
Does Nilkamal Limited pay a dividend?
Nilkamal Limited currently shows a dividend yield of about 2.97% relative to its recent price (as of Aug 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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