MarketFriction

Nirlon Ltd

NSE NIRLON · BSE 500307 · Diversified Commercial Services
₹615.00 +14.41%
NSE close2026-10-01
52 week range516.03 - 657.00
Market cap₹5,460 Cr.
P/E15.3
Price band 20%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales149152153157160161158163165170171168
Expenses303232363230353536383939
Operating Profit120120122120129131123128129132132129
OPM %80%79%79%77%80%81%78%78%78%78%77%77%
Other Income111123344334
Interest303033303029282826282626
Depreciation141415141414131414141414
Profit before tax777775788790849093939693
Tax %32%32%32%36%35%35%36%35%-59%26%26%26%
Net Profit5252515056585458148697169
EPS in Rs5.825.785.685.536.276.475.946.4816.397.697.837.70
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales289288291299310317384573603636669674
Expenses65666972788086114126133148152
Operating Profit223222222226232237298458477503521523
OPM %77%77%76%76%75%75%78%80%79%79%78%77%
Other Income-25110223481414
Interest72786670321435126123117108106
Depreciation8071725953497510356565656
Profit before tax69788599146177190233302338372375
Tax %37%35%35%36%25%28%42%32%32%36%7%
Net Profit44515664109127111158206218346357
EPS in Rs4.835.676.187.0712.1514.1412.3017.5222.8124.2138.3939.61
Dividend Payout %16%13%12%11%6%57%211%148%114%107%78%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%16%5%5%
Compounded Profit Growth23%22%30%57%
Stock Price CAGR11%10%14%19%
Return on Equity31%49%66%84%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital909090909090909090909090
Reserves1,3301,366283207262364484388312283267378
Borrowings7156636086118539899781,1781,1451,1461,1461,147
Other Liabilities252253210212251345353542554607740634
Total Liabilities2,3872,3711,1911,1201,4571,7881,9062,1992,1012,1262,2432,250
Fixed Assets2,2992,2511,0268357917417051,9861,9321,9101,8701,832
CWIP726551415599481,140136397
Investments000000000000
Other Assets80941091431069960200163214364411
Total Assets2,3872,3711,1911,1201,4571,7881,9062,1992,1012,1262,2432,250
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity205205217212224311209340377425480477
Cash from Investing Activity-162-75-63-118-405-325-120-159-90-51-38-309
Cash from Financing Activity-39-136-140-7414822-100-86-365-337-332-322
Net Cash Flow4-61420-338-1095-7937110-154
Free Cash Flow4213015393-181-1589179292370434434
CFO/OP118%99%105%105%111%147%102%124%94%101%107%106%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days555335232222
Inventory Days
Days Payable
Cash Conversion Cycle555335232222
Working Capital Days-361-260-171-68-93-107-128-268-118-107-126-82
ROCE %5%7%10%16%16%14%13%14%22%28%30%31%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters70.34%70.34%67.84%67.80%67.76%67.74%67.72%67.70%67.68%67.67%67.67%67.66%
FIIs14.38%14.25%14.34%10.46%10.36%10.48%11.98%12.25%13.29%13.34%15.78%4.49%
DIIs0.01%0.01%0.01%4.77%4.81%4.85%3.71%3.41%2.39%2.31%0.07%0.01%
Public15.28%15.38%17.82%16.96%17.05%16.94%16.58%16.62%16.64%16.68%16.46%27.85%
No. of Shareholders24,99024,39825,95127,01928,33827,27826,84627,02327,29826,90927,60826,433

Fundamentals

Market Cap₹ 5,460 Cr.
Current Price₹ 606
Stock P/E15.3
Book Value₹ 52.0
ROCE30.8 %
ROE83.8 %
Dividend Yield4.95 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)5%
Compounded Profit Growth (TTM)57%
Standalone figures.
Valuation
Market capRs 5,542 Cr
Enterprise valueRs 6,391 Cr
P/E (TTM)15.53x
Price to book11.83x
Price to sales8.22x
EV / EBITDA11.90x
EV / EBIT13.28x
EV / sales9.48x
Price to cash flow11.61x
Earnings yield6.44%
Dividend yield4.88%
P/E, 3-year average17.63x
P/B, 3-year average10.96x
P/E, 5-year average21.54x
P/B, 5-year average9.81x
Profitability
Operating margin (excl. other income)77.89%
Operating margin (incl. other income)80.01%
EBITDA margin79.63%
Pre-tax margin55.61%
Net profit margin52.92%
Net margin, latest quarter41.22%
ROE83.82%
ROCE30.77%
ROA15.40%
ROE, 3-year average65.55%
ROCE, 3-year average29.54%
ROA, 3-year average11.70%
ROE, 5-year average50.72%
ROCE, 5-year average25.00%
ROA, 5-year average9.57%
ROIC (approx.)33.98%
Tax rate6.98%
Other income / net worth3.02%
Growth
Sales growth (latest year)5.20%
Profit growth (latest year)58.57%
Sales CAGR, 3 years5.33%
Sales CAGR, 5 years16.12%
Profit CAGR, 3 years29.88%
Profit CAGR, 5 years22.12%
Sales growth QoQ-1.54%
Profit growth QoQ-1.71%
Sales growth YoY (latest quarter)3.26%
Profit growth YoY (latest quarter)18.78%
Per share
EPS (TTM)Rs 39.61
EPS (latest year)Rs 38.39
EPS (latest quarter)Rs 7.70
EPS, 3-year averageRs 28.47
EPS, 5-year averageRs 23.05
Book value per shareRs 52.00
Sales per shareRs 74.85
Cash flow per shareRs 52.98
Free cash flow per shareRs 48.16
Dividend per share (latest year)Rs 30.00
Dividend per share, 3-year averageRs 27.33
Dividend per share, 5-year averageRs 26.80
Dividends
Dividend payout78.14%
Dividend payout, 3-year average99.84%
Dividend payout, 5-year average131.87%
Efficiency
Asset turnover0.30x
Fixed asset turnover0.37x
Debtor days2 days
Debtors turnover200.95x
Cash conversion cycle2 days
Working capital days-82 days
Leverage
Total debtRs 1,147 Cr
Cash and bankRs 298 Cr
Net debtRs 849 Cr
Debt to equity2.45x
Net debt / EBITDA1.58x
Interest coverage4.53x
Owners' fund to total sources20.83%
Debt to assets50.98%
Cash flow
Cash from Operating Activity (latest year)Rs 477 Cr
Cash from Investing Activity (latest year)Rs -309 Cr
Cash from Financing Activity (latest year)Rs -322 Cr
Net Cash Flow (latest year)Rs -154 Cr
Free cash flow (latest year)Rs 434 Cr
FCFE (approx.: FCF + change in debt)Rs 435 Cr
Cash from ops / profit, 5 years2.02x
Sales to cash flow1.40x
Statement figures
Net sales (TTM)Rs 674 Cr
Net sales (latest year)Rs 669 Cr
Sales (latest quarter)Rs 168 Cr
Operating profit excl. other income (latest year)Rs 521 Cr
Operating profit (latest quarter)Rs 129 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 537 Cr
PBDT (TTM)Rs 431 Cr
Profit before tax (TTM)Rs 375 Cr
Tax (latest year)Rs 26 Cr
Net profit (TTM)Rs 357 Cr
Net profit (latest year)Rs 346 Cr
Net profit (latest quarter)Rs 69 Cr
Depreciation (TTM)Rs 56 Cr
Depreciation (latest quarter)Rs 14 Cr
Interest (TTM)Rs 106 Cr
Cost of goods sold (latest year)Rs 64 Cr
Total expenditure (latest year)Rs 148 Cr
Total income (latest year)Rs 683 Cr
Share capitalRs 90 Cr
ReservesRs 378 Cr
Shareholders' fundsRs 469 Cr
Total assetsRs 2,250 Cr
Net blockRs 1,832 Cr
Capital work in progressRs 7 Cr
ReceivablesRs 3 Cr
Other liabilitiesRs 634 Cr
Shares outstanding (crore)9.01
Ownership
Promoter holding67.66% (-0.04 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 15.3 is at the 5th percentile of its own 9.4-year range (median 25.2, low 13.6, high 41.1).
P/B 11.67 is at the 81th percentile (median 6.55).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodNIRLONNifty 50Difference
1 week-0.1%-2.8% +2.7 pts
1 month-6.6%-6.8% +0.2 pts
3 months-2.1%-7.6% +5.5 pts
3 years+49.6%+14.2% +35.4 pts
5 years+65.0%+27.9% +37.1 pts
1 mutual fund schemes hold about ₹0 Cr. Over three months 0 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal BSE 1000 Index Fund0.01%0 +2%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹168 Cr +3.1% vs Jun 2025. Net profit ₹69 Cr +19.0%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
International Gemological Institute Limited14,01523.069.2 %
Wework India Management Ltd9,26510720.6 %
NESCO Ltd7,33117.618.5 %
Indiabulls Limited6,98014.416.2 %
NDR INVIT Trust6,91669.55.08 %
Inox Green Energy Services Ltd6,58353.78.42 %
Leap India Ltd6,0461048.34 %
Smartworks Coworking Spaces Ltd5,8712118.29 %
Quess Corp Ltd5,10919.824.0 %
Indiqube Spaces Ltd4,1486.38 %
Sanghvi Movers Ltd3,93019.215.6 %
CMS Info Systems Ltd3,67512.217.9 %
Hemisphere Properties India Ltd3,274-1.14 %
EFC (I) Ltd2,57810.019.8 %
TVS Infrastructure Trust2,34745.4%
DateClientSideQtyPrice
2026-10-01Nihar Nandan NilekaniSELL2,325,000615.00
2026-10-01Inre Fund IiBUY2,325,000615.00
2026-10-01Nihar Nandan NilekaniSELL2,325,000615.00
2026-10-01Inre Fund IiBUY2,325,000615.00
Ex-dateActionFactor
2026-09-03Dividend - Rs 15 Per Share
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03