Nilkamal Ltd.'s (NILK) Q2FY21 result was a beat to our estimates. After a dismal performance in Q1FY21, the company has rebounded to its earlier growth trajectory, which we earlier anticipated to reflect in Q3FY21E. Net sales was down by 7.2% YoY to Rs5,343mn, while EBITDA came at Rs869mn, up by 21.1% YoY. The company reported net profit of Rs497mn, increased by 5.8% YoY. The management guided that impact of Covid-19 on organized plastic manufacturer has been positive as they gained market share from their unorganized counterparts. We believe availability of quality products at reasonable prices and supply assurance along with seamless service will continue to...