Nilkamal Q2 Results FY26: Revenue Surges 18% Driven by B2B & E-Commerce Growth

Market Performance:

Shares of Nilkamal Limited remain in focus as the company reports strong second-quarter results for FY26. The stock reacts positively to robust revenue growth across key segments, reflecting steady performance in the material handling and molded furniture business.

Main News: Nilkamal Reports 18% Revenue Growth

Nilkamal Limited has posted an impressive 18% year-on-year (YoY) growth in revenue for Q2 FY26, signaling strong demand across its core business segments. The company’s performance was led by both the B2B and Retail & E-commerce divisions, highlighting the effectiveness of strategic initiatives in these areas.

Key financial highlights for Q2 FY26 (Standalone):

• Revenue: ₹948 crore, up from ₹802 crore in Q2 FY25 (+18%)
• Profit Before Tax (PBT): ₹43 crore, up from ₹37 crore (+16%)
• Profit After Tax (PAT): ₹33 crore, up from ₹28 crore (+18%)
• Earnings Per Share (EPS): ₹22, compared to ₹19 last year

Company Details: Segment-Wise Performance

Nilkamal’s business structure continues to demonstrate resilience and growth:

• B2B Segment: ₹838 crore, up from ₹711 crore (+18% in value, +13% in volume)
• Retail Segment: ₹110 crore, up from ₹91 crore
• E-Commerce Revenue: ₹52.44 crore, a 23% YoY increase
• Material Handling Business: +20% growth
• Mattress & Foam Business: +65% growth, driven by new products and expanded channel reach
• Nilkamal Edge – Institutional Furniture: slight decline of 2%
• Furniture Trade Business: +6%

Consolidated numbers, including subsidiaries and joint ventures, reflected positive growth:

• Net Sales: ₹972 crore, up from ₹824 crore
• Consolidated PAT: ₹34 crore, up from ₹32 crore

The subsidiaries in Sri Lanka and Cambro Nilkamal Private Limited contributed steadily, with Cambro Nilkamal showing revenue gains due to an expanded product portfolio.

Strategic Investments & Financial Position

Nilkamal continued to manage capital efficiently, with capital expenditure for the quarter at ₹42 crore, down from ₹99 crore last year. For H1 FY26, total capex stood at ₹78 crore versus ₹171 crore in H1 FY25.

The company’s net borrowing as of September 30, 2025, was ₹376 crore, higher than ₹305 crore a year ago, reflecting investments in growth and expansion initiatives.

Summary: Strong Q2 Performance Amid Market Opportunities

Nilkamal Limited has delivered a well-rounded performance in Q2 FY26, driven by robust growth in its B2B and E-commerce channels, along with strategic product and market expansion. The company's continued focus on material handling, furniture, and diversified offerings supports a stable and growing business model.

With consolidated and standalone numbers showing positive momentum, Nilkamal remains a noteworthy player in India’s material handling and molded furniture market, poised to leverage evolving market demand across sectors.