Nilkamal Ltd transformed from Plastic Furniture to Complete Furniture Solution Provider for Home Furniture, Office Furniture, etc., in various materials and upholstered products.
Q1 FY26 Earnings Summary (Apr–Jun 2025)
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Consolidated Revenue from Operations: ₹883 crore, up 19% YoY.
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Net Profit (PAT): ₹15 crore, a steep drop from previous periods.
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EPS: Not explicitly reported, but reflective of significant margin pressure.
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New Business Trends:
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Muted B2B business (excluding racking), with postponement of institutional spending due to the election cycle.
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B2C segment: Declined 13% YoY due to soft demand and lower footfalls in lifestyle/@home retail.
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Racking business: Grew 44% YoY.
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Mattress business: Up 10% YoY, supported by more channels and in-house foam manufacturing.
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E-commerce sales: Grew 16% YoY.
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Key Investments: Announced capex of ₹150 crore for FY26 to enhance manufacturing capacity and new channels.
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Management/Board: Appointment of a new independent director to strengthen governance.
Key Management & Strategic Decisions
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Retail Rebranding: Unification of @Home and Nilkamal Furniture Ideas under “Nilkamal Homes” to drive retail expansion and improve brand visibility.
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Channel & Product Diversification: Strong focus on growing the mattress and Bubbleguard divisions; expanding digital and channel partner networks.
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Cost Management: Ongoing efforts to optimize costs amid rising material expenses; renewed focus on operational efficiency in muted demand conditions.
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Investments: Significant capex outlay (₹150 crore) for upgrade/expansion, especially in high-growth businesses.
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E-commerce Expansion: Leveraging digital and e-commerce to broaden delivery reach and product portfolio.
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International Operations: Subsidiaries in Sri Lanka saw improved performance; UAE subsidiary experienced muted growth.
Q4 FY25 Earnings Summary (Jan–Mar 2025)
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Consolidated Revenue from Operations: ₹894.01 crore, up 7.17% YoY.
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Net Profit (PAT): ₹34.13 crore, down 3.9% YoY from ₹35.51 crore in Q4 FY24, but up 58.8% sequentially from Q3 FY25.
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EBITDA: ₹87.73 crore, up 4.04% YoY.
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EBITDA Margin: Approximately 9.8%.
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EPS: ₹23.30, compared to ₹23.83 in Q4 FY24.
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Profit Before Tax: ₹45.57 crore, down 1.9% YoY.
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Expenses: Total expenses rose 7.7% YoY to ₹851.16 crore, driven by an 8.45% increase in raw material costs and higher other expenditures.
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Dividend: Board declared a final dividend of ₹20 per share.
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Segmental Trends:
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B2B/material handling business: Revenue grew 4.7% YoY.
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Retail/e-commerce sales: Declined 6.3% YoY.
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Mattress business: Grew by 38% in FY25.
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Bubbleguard business: Up 14% in FY25.
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