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Dynamic Levels
Nilkamal (Buy)
CMP: ₹1,189.85
Target: ₹1,620
Nilkamal, the world’s largest producer of moulded plastic furniture, with changing times and varied taste of customers, has evolved itself into a complete furniture solution provider. Today the brand offers anything and everything a customer may want to purchase which includes living room solutions, bedroom solutions, dining solutions, seating solutions, storage solutions or office furniture.
Nilkamal’s retail business recorded increased sales of ₹238 crore against ₹218 crore last year, up by 9 per cent, thus earning cash profits. Sales through e-commerce channel saw an uptrend, compared to previous year, and resulted in remarkable growth of 310 per cent in terms of revenues. Nilkamal’s mattress business has achieved turnover of ₹30.01 crore for FY16. During FY16 Nilkamla introduced unique products such as Spinefit, Cool Bond, Mckenzie, Ortho, etc, which have been appreciated by the trade and customers at large. We are positive on the company prospects due to: a) PAT increased by 124.8 per cent y-o-y; b) Reserves of the company have gone up by 20 per cent; c) Earnings per share has gone up by 125 per cent y-o-y; d) Nilkamal is continuously innovating and entering new markets and segments.
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