1372.45 22.10 (1.64%)
NSENov 27, 2020 03:31 PM
The 2 reports from 1 analysts offering long term price targets for Nilkamal Ltd. have an average target of 1321.00. The consensus estimate represents a downside of -3.75% from the last price of 1372.45.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-06-30||Nilkamal Ltd. +||IDBI Capital||1142.60||1321.00||1142.60 (20.12%)||Target met||Accumulate|
Nilkamal Ltd.'s (NILK) Q4FY20 result was beat to our estimates. Despite muted sales in second half of March, 2020, the company's net sales declined just by 1.5% YoY to Rs5,615mn. EBITDA came in at Rs706mn, up by 26.5% YoY, while PAT stood at Rs318mn, increased by 4.9% YoY. Nationwide lockdown completely halted NILK's production facilities in April and few facilities resumed production in May. However since June all the plants are operational. The management has guided subdued Q1FY21E and business to normalize in Q3FY21E. On positive side, NILK's extensive distribution network, direct connect with the industrial customers and strong brand recall amongst retail customers will enable it to...
|2020-01-30||Nilkamal Ltd. +||IDBI Capital||1415.10||1524.00||1415.10 (-3.01%)||Target met||Accumulate|
Nilkamal (NILK) reported another subdued quarter amid challenging business environment, particularly on industrial segment front. Net sales declined by 7.3% YoY to Rs5,226 mn. Softness in raw material prices aided EBITDA, which came in at Rs630 mn, up 25.6% YoY. EBITDA margin improved by 316bps over Q3FY19 to 12.1%. Sharp increase in depreciation and interest outgo dented net profit which was at Rs276 mn, marginally up by 0.5% YoY. Plastic segment revenue was down by 8.8% YoY to Rs4,662 mn, while retail business grew by 6.1% YoY to Rs615 mn. We have revised our sales numbers downward considering muted demand outlook, while savings in raw...
|2019-05-16||Nilkamal Ltd. +||Motilal Oswal||1103.95||1103.95 (24.32%)||Economy Update|
Other key Highlights of Q4FY19: 1) Lifestyle (@home) business de-grew 3% YoY; 2) In Q4FY19, Nilkamal incurred a capex of INR282mn (INR1,143mn for FY19). Company has envisaged a capex of INR1,000mn-1,250mn in FY20;...
|2019-05-13||Nilkamal Ltd. +||IDBI Capital||1190.00||1380.00||1190.00 (15.33%)||Target met||Accumulate|
Nilkamal's (NILK) Q4FY19 result was below our estimates owing to lower-than expected volume and higher expenses. Revenue was down by 6.9% YoY to Rs5.5bn while EBITDA/PAT was down by 19.5%/16.8% YoY to Rs526mn/Rs281mn. Plastic segment revenue was down by 8.5% YoY mainly due to volume de-growth of 9% (vs. expectation of 7.5% growth). Retail segment also registered revenue decline of 2.7% YoY to Rs483 mn. We cut our FY20E Revenue/EBITDA/PAT CAGR of 12%/18%/16% during FY19FY21E. We factor weak Q4FY19, introduce FY21 financials and rollover to FY21. We...
|2018-11-02||Nilkamal Ltd. +||Religare||1579.70||1981.00||1579.70 (-13.12%)||Buy|
Nilkamal Ltd reported mix set of numbers for Q2FY19. Its net revenue grew by 32.1% YoY, which was above our estimates. The plastics business reported strong volume growth of 30%, largely driven by a favourable base. However, EBITDA & PAT de-grew 14.5% & 10.6% YoY, below our projections. EBITDA margins contracted 434bps YoY to 8%.
|2018-10-31||Nilkamal Ltd. +||IDBI Capital||1595.00||1692.00||1595.00 (-13.95%)||Buy|
Nilkamal's (NILK) Q2FY19 results were a mix set of numbers, while revenue was a beat to our estimates, EBITDA and PAT were a miss. While revenue was up 32.1% YoY to Rs6.1bn, EBITDA/PAT was down 14.5%/10.6% YoY to Rs490/Rs249mn respectively. Plastic segment registered a value growth of 34% to Rs5.6 bn due to higher volume and realization both. Retail segment registered a growth of 5% YoY to Rs555 mn. The company's mattresses business grew by 13.2% YoY to Rs172mn. However, the company clocked 15 quarter lowest EBITDA margin of 8% (-434bps YoY) due to higher raw material prices and discounts. We cut our EBITDA/PAT estimates by 8%/7.5% for FY19E...
|2018-08-07||Nilkamal Ltd. +||Motilal Oswal||1737.40||2187.00||1737.40 (-21.01%)||Buy|
Inl ine performance for 1QFY19. Revival in private capex and growth in mattresses business remains k
For 1QFY19, Nilkamal's revenue grew 17.3% YoY to INR5.7bn, largely driven by volume growth in plastic business (up ~13% YoY). EBITDA growth was up 27.4% YoY driven by lower other expenses (down 134bps) which was partly offset by rising raw material prices (up 97bps YoY). In Q1FY19, Plastic division registered a volume/realization growth of 13%/8% YoY leading to revenue growth for the division at 21%. Recently introduced mattress division is also picking up fast and the revenue for the same increased 40% YoY in 1QFY19 to INR165mn. We expect the momentum to continue on the back of increasing penetration, shift from unorganized to organized and rising affluence. 1) Plastic business volume/value grew 13%/21% YoY; 2) Retail segment declined 12% YoY mainly due to increased pre-GST sales in Q1FY18; based model and in 1QFY19, it opened one such store in Indore; 4) In Q1FY19, Nilkamal incurred a capex of INR235mn which is in-line with full year guidance of INR1,500mn capex.
|2018-08-06||Nilkamal Ltd. +||IDBI Capital||1763.00||2057.00||1763.00 (-22.15%)||Target met||Buy|
Nilkamal's (NILK) Q1FY19 results were largely in-line with our estimates. Revenue was up 17.3% YoY to Rs5.7bn, EBITDA was up by 26.6% to Rs549mn and PAT was up 37.1% at Rs307mn. Plastic segment registered volume and value growth of 13% and 21% respectively on a YoY basis. Retail segment registered a de-growth of 12% YoY mainly due to increased pre-GST sales in Q1FY18, whereas it remains flattish on QoQ basis. The company's mattresses business grew by 40.5% YoY to Rs164.7mn. We are almost...
|2018-05-28||Nilkamal Ltd. +||Religare||1706.00||2231.00||1706.00 (-19.55%)||Buy|
Nilkamal Ltd's Q4FY18 numbers were more or less in line with our estimates with net revenue & PAT growth of 12.1% & 5.1% YoY respectively. The volume growth in plastics business stood healthy at 9%. EBITDA grew by 11.8% YoY, while EBITDA margins stood flat at 11%.
|2018-05-18||Nilkamal Ltd. +||Motilal Oswal||1685.00||2184.00||1685.00 (-18.55%)||Buy|
Inline performance for 4QFY18. Better volume growth in plastics division and ramp up of mattresses segment to be the key growth driver. Performance in line: For 4QFY18, Nilkamal's revenue grew 12.1% YoY to INR5.9bn, largely driven by volume growth in plastic business (up ~8% YoY). EBITDA growth was up 11.7% YoY. Benefit of softer raw material prices was offset by increased other expenses leading to flat EBITDA margins at 11.0%. However, increased interest cost and higher tax expenses (as the tax exemptions for company's Jammu unit is over and...
|2018-05-14||Nilkamal Ltd. +||IDBI Capital||1680.15||2256.00||1680.15 (-18.31%)||Buy|
Nilkamal's (NILK) Q4FY18 revenue was in-line with our expectations while EBITDA and PAT was a miss by 13%/16% due to higher than expected raw material costs. Revenue increased 12% to Rs5.9bn YoY, EBITDA margin remained flattish YoY to 11% (-171bps QoQ) while PAT increased by 5% to Rs.338mn. Plastic segment registered volume and value growth of 9% and 15% on a QoQ basis. The company's mattresses business grew 45% YoY to Rs590 mn in FY18 which is 18% of total revenue growth in FY18. NILK is also entering into Foam manufacturing business (capex of Rs350 mn) which would start by end FY19. We are lowering our...
|2018-05-14||Nilkamal Ltd. +||Angel Broking||1680.15||2165.00||1680.15 (-18.31%)||Buy|
For 4QFY2018, Nilkamal Ltd (NIL) posted results in-line with our expectations on top-line front although, it is slightly down on the bottom line front as standalone revenues grew by ~12% y-o-y. However, operating margin remained flat y-o-y on account of increase in other expenses. On the bottom-line front, NIL reported lower growth of ~5%..
|2018-03-24||Nilkamal Ltd. +||Choice India||1549.50||1950.00||1549.50 (-11.43%)||Target met||Buy|
Valuation: We are positive on the company backed by the implementation of GST that will boost the revenue of the organized sector and on the account of investment made by the company to diversify its product portfolio which will boost its revenue. At CMP of Rs.1593.1, it is trading at a P/E multiple of 19.8x and 17.1x to its FY18E and FY19E earnings, respectively. On the basis of estimates, we arrive at a target price in...
|2018-01-30||Nilkamal Ltd. +||Religare||1819.00||2231.00||1819.00 (-24.55%)||Buy|
Nilkamal Ltd's Q3FY18 net revenue grew by 5.5% YoY, which was slightly subdued. However, operating profit & PAT growth of 34.9% & 17.1% YoY were above our projections. Aided by lower material cost and other expenses (as % to net revenue), the EBITDA margins improved by 276bps YoY, which is encouraging.
|2018-01-30||Nilkamal Ltd. +||Motilal Oswal||1832.00||2215.00||1832.00 (-25.08%)||Buy|
Good performance continues for Nilkamal in 3QFY18. Revenue growth at 5 %, EBITDA growth strong at ...
Plastic and mattress segment drives growth, @home flat: in 3QFY18, Plastic segment saw volume/value growth of 2%/5% YoY (11%/16% QoQ). Mattress segment saw robust performance with revenue growth of 42% YoY to INR151mn.This was largely on account of commencement of manufacturing units in east (Barjora) and west (Bhiwandi) leading to better geographic penetration. Performance of @home business was flat, in-line with expectation. Revenue was down 3% to INR561mn, however, significant improvement in operational efficiency led to PBT...
|2018-01-29||Nilkamal Ltd. +||IDBI Capital||1874.15||2256.00||1874.15 (-26.77%)||Buy|
Nilkamal's (NILK) Q3FY18 revenue & PAT came below expectations by 9%/7% while EBITDA margin gave a positive surprise. It reported 2% volume and 5% value growth in Plastics, fell short of our expectations. Revenue increased 5.5% YoY to Rs5.2bn, EBITDA margin expanded 276bps YoY to 12.7%, while PAT increased 17.2% YoY to Rs331 mn. Though Retail segment revenue decreased 3%, its EBIT improved to Rs30 mn against Rs9 mn. We are cutting our EBITDA/PAT estimates by 2.6%/4.4% for FY18 and 1.6%/1.8% for FY19 and introducing FY20 numbers. We roll over our valuation on FY20 which...
|2018-01-03||Nilkamal Ltd. +||Angel Broking||1973.55||2178.00||1973.55 (-30.46%)||Buy|
Nilkamal Ltd is engaged in the manufacturing and retail sales of moulded plastic furniture and material handling products. The company has three divisions viz. plastics, lifestyle furniture and furnishings & accessories. Nilkamal's manufacturing plants are located at Barjora (West Bengal), Hosur (Tamil Nadu), Jammu, Dadra & Nagar ..
|2017-11-29||Nilkamal Ltd. +||Religare||1798.00||2097.00||1798.00 (-23.67%)||Target met||Buy|
Nilkamal Ltd's Q2FY18 numbers were broadly in line with our estimates. Net revenue de-grew marginally by 0.8% YoY, impacted by poor volume offtake in Plastics division due to GST transition. However, operating profit & PAT increased by 11.7% & 5.9% YoY respectively, while operating margins improved by 139bps YoY, which was encouraging.
|2017-11-27||Nilkamal Ltd. +||Motilal Oswal||1794.45||2215.00||1794.45 (-23.52%)||Buy|
Market leader in moulded furniture (chairs) in India, with strong brand: Nilkamal is a market leader with ~32% share in the moulded furniture segment and sells ~1.4 million plastic moulded chairs per annum (one of the largest in India). The plastics division is the largest revenue generator for the company at 89% in FY17. The company has been able to grow this business consistently (8.3% CAGR over FY12-17) on the...
|2017-11-13||Nilkamal Ltd. +||IDBI Capital||1584.00||2000.00||1584.00 (-13.36%)||Target met||Buy|
Nilkamal's (NILK) Q2FY18 revenue came below expectation while EBITDA/PAT was 17%/9% ahead of our expectation on the back of lower raw material costs. It reported 4% volume and 2% value de-growth in plastic division due to GST. Revenue declined 0.8% YoY to Rs.4.6bn, EBITDA margin expanded 138bps YoY to...