Nilkamal Q3 Results Review - Subdued Performance Of @Home Weighed On Margin: IDBI Capital

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Nilkamal Ltd.’s Q3 FY24 result was in-line with our estimate on net sales front, while margins were miss owing to higher than anticipated loss in @ Home segment. The company reported 7% YoY /2% YoY volume and value growth respectively in Q3 FY24.Nilkamal racking business and @ Home segment is witnessing muted demand which marred overall earnings of the company. On a positive note, E-Commerce reported robust 43% YoY increase in net sales.Nilkamal has 105 exclusive operative stores selling ready furniture, Mattresses etc and 27 @home stores at the end of Q3 FY24. Net sales increased by 6.5% YoY to Rs 8 billion, while Ebitda declined by 4.7% YoY to Rs 728 million.The company reported net profit of Rs 294 million, lower by 11.5% YoY. We roll over to FY26E and maintain 'Hold' rating on the stock with a revised target price of Rs 2,412, assigning 18 times price earning ratio on FY26E..Click on the attachment to read the full report:.Sundaram Finance Q3 Results Review - AUM Growth Remain Strong; Asset Quality Improved: IDBI Capital.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Nilkamal Q3 Results Review - Subdued Performance Of @Home Weighed On Margin: IDBI Capital

Revival in demand to be watched, 'Hold' with a target price of Rs 2,412.

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Nilkamal Q3 Results Review - Subdued Performance Of @Home Weighed On Margin: IDBI Capital

Revival in demand to be watched, 'Hold' with a target price of Rs 2,412.

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