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IDBI Capital Report
Nilkamal Ltd.'s Q4 FY21 results were a mixed bag as net sales was tad higher than our estimate, while margin was disappointing.
Sales volume growth further strengthened in Q4 FY21. However, steep increase of 20% YoY in raw material prices eroded operating margin.
Net sales improved by 21.1% YoY to Rs 6,799 million, while Ebitda came at Rs 789 million, up by 11.7% YoY.
The company reported net profit of Rs 382 million, a healthy growth of 20.2% over Q4 FY20.
Despite challenging business environment due to pandemic, the company's strong distribution network, healthy relationship with its customers and company's ability of providing all in one services and robust supply chain management system were instrumental in delivering strong financial performance.
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