Nilkamal Ltd. share price target

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...

Nilkamal Ltd is an industry pioneer in the manufacturing business of moulded furniture and material handling products with diversified product profile across various segments along with a strong customer base. It also has presence in the retail business of lifestyle furniture, furnishings and accessories under its brand '@home' & Nilkamal Mattresses.

Nilkamal Limited is a holding company engaged in the manufacturing of plastic products and retail sales. The Company's segments are Plastics, which includes injection molded plastic articles, polymers and others; Lifestyle Furniture, Furnishings & Accessories, which includes home furniture, home furnishing and accessories, and Others, which includes storage system of metal, mass housing and mattresses, among others. Its businesses include material handling solutions, molded furniture, Nilkamal Mattress, Nilkamal Home Ideas, the Home Furnishing Store and @home, the Mega Home Store Retail Chain. Its furniture business includes a range of chairs from baby...

The company's Q1FY18 revenue came in line with expectation while EBITDA/PAT was below expectations mainly on account of de-stocking and higher discounts. The company reported 2% volume and 5% value growth in plastic division. Revenue increased by 5.8% YoY to Rs.4.9bn, EBITDA margin contracted 377bps YoY to 8.9%, while PAT declined 2.8% YoY to Rs.224 mn. Revenue for plastic segment was up by 5% YoY to Rs.4.7 bn whereas for retail segment it was up 12.4% to Rs560 mn. The company expects Q2FY18 also to remain subdued due to GST implementation but expects strong growth in H2FY18. We have cut EBITDA/PAT estimates...

Revenues grew 5.8% YoY to Rs5.3 bn, EBITDA margin contracted 212bps YoY to 11%, while EBITDA/PAT declined 11.3%/1.3% YoY to Rs585/322 mn. Plastics division EBIT decreased 20% YoY to Rs505 mn due to demonetization while @home retail division reported a profit...

Strong Growth in Plastic Segment; while RM Prices Impacted EBITDA Margins: Strong growth witnessed in plastic segment during quarter: Nilkamal's revenue during Q3FY17 registered a double digit growth of 16.4% YoY at Rs. 5289 Mn compared to Rs. 4546 Mn in Q3FY16. The plastic segment beingthe major contributor grew at 19.1% YoY to Rs. 4767 Mn mainly on account of the growth in volume and value at 22.0% and 19.0% respectively.

Operating Margins Continue to Sustain in H1FY17: Half yearly revenues remained flat, EBITDA margins continued to sustain - Nilkamal Ltd (NL) witnessed a flat growth of -0.5% on a YoY half yearly standalone basis, with EBITDA margins showing an improvement of 70 basis points (bps) mainly on account of the decrease in the raw material prices. Its net margin alsoimproved mainly on account of the decrease in the interest cost due to reduced debt on the books.

Nilkamal Ltd. (NILK) came out with a disappointing result in Q2FY17 led by lower growth in plastics division partially offset by strong operating performance from retail division (on a standalone basis). Revenues declined 2.2% YoY to Rs4.7 bn, EBITDA margin improved 330bps YoY to 11%, EBITDA/PAT grew marginally 0.8% YoY to Rs513/263 mn. Plastics division EBIT decreased 11% YoY to Rs380 mn while @home retail division profit almost tripled to Rs32.2 mn. Overall, the...

Nilkamal (NILK) is a pioneer in the plastic industry and is among the leading manufacturers of moulded plastic products. It is present in three verticals, viz Plastics (83% of revenue), Retail (13%) and Mattress (4%). The Plastics division is made up of Material Handling and Moulded Furniture segments. Material...

Nilkamal Ltd is the world's largest manufacturer of moulded furniture of product mix right from bins, crates, pallets, Material Handling Equipment. Nilkamal delivered the highest PAT of Rs 104 Cr in...