Nilkamal spurts after strong Q2 outcome

Nilkamal rose 12.11% to Rs 1,097.25 at 11:19 IST on BSE after net profit rose 276.32% to Rs 25.74 crore on 5.13% rise in net sales to Rs 479.05 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 2 November 2015.

Meanwhile, the BSE Sensex was up 124.95 points, or 0.47%, to 26,684.10.

On BSE, so far 92,000 shares were traded in the counter, compared with an average volume of 37,435 shares in the past one quarter.

The stock hit a high of Rs 1,105 and a low of Rs 1,006 so far during the day. The stock hit a record high of Rs 1,179 on 7 August 2015. The stock hit a 52-week low of Rs 315.75 on 13 November 2014.

The stock had underperformed the market over the past one month till 2 November 2015, rising 0.93% compared with 1.29% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.21% as against Sensex's 5.53% decline.

The small-cap company has an equity capital of Rs 14.92 crore. Face value per share is Rs 10.

Nilkamal's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 71.92% to Rs 54.07 crore in Q2 September 2015 over Q2 September 2014.

The raw material prices remained range bound as anticipated by the company, and showed a downward trend in line with the crude prices. This was also backed by the company's focus on the enhancement of its strategic and operational efficiencies of all its businesses, which in turn helped the company to register a healthy quarter, the company said in a statement.

The company said it believes that the challenged market outlook does curtail near-term growth, but long term outlook for the business remains promising.

Nilkamal 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 diversified customer base including household customers, industrial customers and retail buyers. it is also having its presence in the retail business of lifestyle furniture, furnishings and accessories under its brand '@horne' & Nilkamal Mattresses.

Powered by Capital Market - Live News