Nilkamal Limited will conduct its 40th Annual General Meeting (AGM) through video conference on Friday, July 17, 2026, at 11:00 a.m. IST. The meeting will be held in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors has recommended a final dividend of ₹20 per equity share of face value ₹10 each for the financial year ended March 31, 2026, subject to shareholder approval at the AGM. The record date for dividend eligibility is July 10, 2026, and if approved, the dividend will be paid on or after July 24, 2026.

Key AGM and Dividend Dates

The total dividend payout for the year stands at ₹2,984.51 lakhs. Mr. Bhaskar Upadhyay, Partner at M/s. N. L. Bhatia & Associates, has been appointed as the Scrutinizer for the e-voting process. Shareholders are requested to ensure their KYC details and bank account information are updated with the Registrar and Share Transfer Agent, MUFG Intime India Private Limited, to receive dividend payments electronically.

FY26 Financial Performance

Nilkamal delivered strong double-digit growth in FY 2025-26. On a standalone basis, revenue from operations stood at ₹3,68,638.86 lakhs, registering a growth of 13.80% over the previous year (₹3,23,931.79 lakhs in FY 2024-25). The standalone EBITDA rose to ₹32,023.06 lakhs, up 13.98% year-on-year. On a consolidated basis, revenue from operations reached ₹3,77,805.78 lakhs, reflecting growth of approximately 14.05% compared to ₹3,31,274.06 lakhs in FY 2024-25. Consolidated EBITDA stood at ₹33,783.69 lakhs, approximately 11.99% higher than the previous year.

Standalone Financial Summary (₹ in Lakhs)

An exceptional item of ₹1,540.60 lakhs was recognised during the year towards incremental gratuity and leave liability arising from actuarial valuations carried out in accordance with the definition of "wages" under the New Labour Codes effective November 21, 2025.

Key Financial Ratios

The company's financial ratios reflect improved capital efficiency and operational performance. The standalone debt-equity ratio improved to 0.17 from 0.27 in the prior year, driven by a significant reduction in debt. The current ratio remained stable at 2.24. Debtors turnover improved to 38.27 days from 43.40 days, and inventory turnover improved to 65.72 days from 71.90 days.

Business Segment Highlights

Nilkamal has realigned its operations into two focused verticals — Business to Business (B2B) and Business to Consumer (B2C). The Material Handling Division achieved approximately 11% volume growth and 13% value growth in FY 2025-26, with the steel racking business recording 22% value growth. The Nilkamal Sleep (mattress) Trade Division delivered 53% year-on-year growth, adding over 820 new channel partners and expanding to 2,000+ direct partners across 3,500+ retail counters. The foam business (PUF) reported revenue of ₹38 crores with 198% growth year-on-year. The EDGE professional furniture brand grew 14%, while Nilkamal BubbleGUARD achieved over 26% growth. The e-commerce business grew by 18.5% over the previous year, with delivery coverage across 19,500 PIN codes. Nilkamal Homes, the retail brand, operated through 101 stores, adding 8 new FOFO stores during the year. A pivotal milestone was the shift in revenue mix, with non-plastic home furniture, mattress, and foam products surpassing plastic furniture in their contribution to overall sales for the first time.

Credit Ratings and Capital Structure

Nilkamal's credit ratings as on March 31, 2026 remained strong, reflecting the company's sound financial position.

As on March 31, 2026, the issued, subscribed, and paid-up share capital stood at ₹1,492.25 lakhs comprising 1,49,22,525 equity shares of ₹10 each. The promoter and promoter group held 64.54% of the total shares. The closing balance of retained earnings for FY 2025-26 was ₹1,03,687.81 lakhs on a standalone basis.

Sustainability and ESG Initiatives

Sustainability remained a core pillar of Nilkamal's strategy during FY 2025-26. Renewable energy consumption increased by 15% over the previous year, reaching a total of 55,703.90 gigajoules (1.55 crore kWh), contributing 16% of total energy consumption. The company recycled and reused 1,900 tonnes of polypropylene (PP) and polyethylene (PE), exceeding its target of 1,300 tonnes. The in-house recycling facility was upgraded, resulting in an 85% increase in recycled waste utilization. The Company's CSR spending for FY 2025-26 stood at ₹528.66 lakhs against an obligation of ₹279.90 lakhs, with the excess amount of ₹248.76 lakhs available for set-off in succeeding financial years. CSR activities focused primarily on the promotion of education.

Foreign Exchange Earnings and Outgo (₹ in Lakhs)

Nilkamal Limited has fixed Friday, July 10, 2026, as the record date for determining the eligibility of shareholders for the final dividend for the financial year 2025-26. The Board of Directors had previously recommended a final dividend of ₹20 per equity share, subject to shareholder approval at the 40th Annual General Meeting scheduled for July 17, 2026. The dividend will be paid to those equity shareholders whose names appear in the Register of Members or in the records of the Depositories as on the record date.

For the financial year ended March 31, 2026, the company reported standalone revenue of ₹3,686 crores, reflecting a 14% year-on-year growth. Profit after tax (PAT) stood at ₹105 crores, compared to ₹91 crores in the previous year. On a consolidated basis, net sales rose to ₹3,778 crores from ₹3,313 crores in FY25, while PAT increased to ₹116 crores.

Key Financial Highlights

The following table presents a summary of key financial metrics for FY26 and FY25 (₹ in Crores):

Segment Performance

The Business to Business (B2B) segment achieved standalone revenue of ₹3,278 crores in FY26, a 13% growth, while the Retail & E-commerce segment recorded a turnover of ₹408 crores, growing by 17%. The Retail & E-commerce segment reported a negative EBIT of ₹7 crores, an improvement over the negative EBIT of ₹18 crores in the previous year. The company’s net borrowing stood at ₹181 crores as on March 31, 2026, down from ₹272 crores in the prior year.