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Nilkamal Limited (NILKAMAL) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹19.3B

NL Nilkamal Limited NILKAMAL · NSE
Price₹1,810
Fair Value₹1,700
Upside-6.1%
Quality61/100
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Healthy Growth
Thin margins · 3.1% net margin
Low debt · generates free cash flow
1.55% dividend yield
Ranks above peers (10/14)
Narrow moat 32/100
Evidence: High Range ₹1,001 – ₹2,130 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price +22.8% over the past month.

A solid business, currently priced close to our fair value.

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (₹1,001 to ₹2,130) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹2,857 ₹1,067 Fair Value ₹1,700 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹1,067 – ₹2,857 · fair‑value band ₹1,001 – ₹2,130 · the ₹1,810 price screens above the ₹1,700 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Nilkamal Limited (NILKAMAL) currently trades at ₹1,810, while our model-based Fair Value estimate is ₹1,700, implying the stock looks roughly 6.1% fairly valued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Cyclical 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 ₹37.8B at a net margin of 3.1%. Revenue grew 8.0% year over year. It earns a return on equity of 7.6%. Net debt stands at ₹3.3B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹1,001 (bear case) to ₹2,130 (bull case); at ₹1,810, the current price sits within 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 3% below its 52-week high and 72% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at -6%, NILKAMAL 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
Growth DCF ₹1,130 ₹1,885 ₹3,089 80
Residual Income ₹863.76 ₹913.86 ₹996.57 76
Rev-Margin DCF ₹1,058 ₹1,795 ₹2,682 74
All 26 models by family
DCF Models
FCF DCF ₹1,121 ₹1,894 ₹3,135 38
Owner Earnings ₹766.16 ₹1,310 ₹2,182 31
5Y Revenue Exit ₹1,058 ₹1,802 ₹2,772 39
5Y EBITDA Exit ₹1,515 ₹2,688 ₹4,101 41
5Y P/E Exit ₹1,094 ₹1,870 ₹2,711 38
10Y Revenue Exit ₹1,033 ₹1,729 ₹2,711 36
10Y EBITDA Exit ₹1,365 ₹2,357 ₹3,761 37
10Y P/E Exit ₹1,092 ₹1,778 ₹2,662 35
Earnings-Based
Graham-Dodd ₹526.69 ₹1,942 ₹2,623 54
Lynch FV ₹464.65 ₹663.79 ₹862.92 50
PEG = 1.0 ₹464.65 ₹663.79 ₹862.92 46
EPV ₹891.25 ₹1,052 ₹1,193 59
Dividend Discount
Gordon GGM ₹183.64 ₹381.82 ₹605.72 70
DDM Multi-Stage ₹183.64 ₹321.96 ₹400.73 61
Multiples
P/E Multiple ₹1,278 ₹1,704 ₹2,130 63
P/S Multiple ₹987.55 ₹1,317 ₹1,646 58
P/B Multiple ₹987.55 ₹1,317 ₹1,646 55
EV/EBIT ₹1,615 ₹2,177 ₹2,739 53
EV/EBITDA ₹1,910 ₹2,571 ₹3,232 54
EV/Revenue ₹1,065 ₹1,552 ₹2,040 43
Asset-Based
NCAV (Graham) ₹528.52 ₹708.22 ₹1,057 50
Growth DCF
Growth DCF ₹1,130 ₹1,885 ₹3,089 80
Rev-Margin DCF ₹1,058 ₹1,795 ₹2,682 74
Economic Profit
Residual Income ₹863.76 ₹913.86 ₹996.57 76
ROIC Compounder ₹891.25 ₹1,052 ₹1,388 72
Growth Earnings
Growth-Adj P/E ₹893.45 ₹1,276 ₹1,659 68

Widest divergence: DCF Models (₹1,802) versus Dividend Discount (₹321.96). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹37.8B
Revenue growth (YoY) +8.0%
Net margin 3.1%
Return on equity 7.6%
Free cash flow ₹1.5B FY2026
P/E ratio 23.3
More key figures
Operating margin 6.1%
EPS (TTM) ₹77.50
Dividend yield 1.6%
EPS growth (YoY) +22.0%
Net debt ₹3.3B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 62 · Market factors (momentum, volatility) 71

Profitability 57
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 72
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 in India and internationally. The company offers bins and crates, pallets, material handling equipment, shelving and racking systems, insulated boxes, waste management solutions, road safety barriers for infrastructure management, and hospitality sector products for …

Full company description

Nilkamal Limited, together with its subsidiaries, manufactures and sells plastic products in India and internationally. The company offers bins and crates, pallets, material handling equipment, shelving and racking systems, insulated boxes, waste management solutions, road safety barriers for infrastructure management, and hospitality sector products for commercial food preparation and service, as well as provides related technical services. It also engages in the business of ready furniture, furnishings, accessories, and e-commerce; material handling, moulded furniture products, metal racking and storage, bubble guard for packaging and protection, factory made wood furniture, metal furniture, sofa manufacturing, office seating solutions, mattress and foam, and modular furniture. In addition, the company operates company-owned company-operated(COCO) and franchisee-owned franchisee-operated(FOFO) stores. It serves food and beverages, logistics, retail, automotive, e-commerce and quick commerce, pharmaceuticals, construction, electronics, chemicals, engineering, hospitality, and waste management industries. The company offers its products under the Nilkamal brand. 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

FY2022 – FY2026 · reported fiscal years

Nilkamal Limited reported revenue of ₹37.8B in FY2026 versus ₹27.2B in FY2022, a compound +8.6%/yr. Reported net income was ₹1.2B in FY2026, compounding +8.5%/yr from FY2022.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹37.8B
Latest YoY
+14.0%
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.
+6.5%
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.
+12.6%
Avg. growth/yr (21Y) 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.
+11.8%
Revenue +8.6%/yr
FY22 ₹27.2B
FY23 ₹31.3B
FY24 ₹32.0B
FY25 ₹33.1B
FY26 ₹37.8B
Net income +8.5%/yr
FY22 ₹834M
FY23 ₹1.3B
FY24 ₹1.2B
FY25 ₹1.1B
FY26 ₹1.2B
Character of growth · EPS growth decomposed (2015-2026) +2.1 % p.a.
Revenue per share +6.3 pp

of which total revenue +6.3 pp · buybacks/dilution +0.0 pp

EBIT margin +7.0 pp
Tax rate +1.1 pp
Residual (interest, one-offs) −12.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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

Peer Group

Furnishings, Fixtures & Appliances · 315 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 61 · Top 25%
Fair Value upside −6% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 8% · Top 25%
Dividend yield (TTM) 1.6% · Below median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 23.3× · Pricier than median
P/B 1.22× · Pricier than median
P/S (TTM) 0.51× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 6.7× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 25 · sector 20
FUTURE 40 · sector 0
PAST 30 · sector 19
HEALTH 94 · sector 98
DIVIDEND 31 · sector 63

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥84.34 ¥99.66 +18%
Gree Electric Appliances, Inc 000651 ¥40.23 ¥86.91 +116%
Haier Smart Home Co 600690 ¥21.79 ¥36.04 +65%
King Slide Works Co 2059 12,500 TWD 1,917 TWD -85%
Guangdong Songfa Ceramics Co 603268 ¥173.26 ¥38.83 -78%
Hisense Home Appliances Group 000921 ¥27.69 ¥50.62 +83%
Ecovacs Robotics Co 603486 ¥57.74 ¥54.14 -6%
Zhejiang Supor Co 002032 ¥41.68 ¥44.84 +8%
COWAY Co 021240 97,200 KRW 103,928 KRW +7%
Voltas Limited VOLTAS ₹1,290 ₹152.27 -88%

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Frequently asked questions

Is Nilkamal Limited (NILKAMAL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹1,700 versus a price of ₹1,810, about −6% (fairly valued).
What is the fair value of NILKAMAL?
Our model-based fair value for Nilkamal Limited is ₹1,700 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,810.
What is the quality score of NILKAMAL?
Nilkamal Limited has a Quality Score of 61/100. 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 (NILKAMAL)?
Nilkamal Limited reported trailing-twelve-month revenue of about ₹37.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of NILKAMAL?
The net profit margin of Nilkamal Limited is about 3.1%, meaning it keeps roughly 3.1% 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 1.55% relative to its recent price (as of Aug 13, 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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