Nilkamal Q4 FY26 results: May date, revenue view

Nilkamal (NSE: NILKAMAL) is preparing to announce its Q4 FY26 financial results for the quarter ended March 31, 2026. The company has scheduled the results for May 2026 (expected), when its board of directors will meet to approve audited financial statements for both the quarter and the full year. The board is also expected to consider a final dividend recommendation alongside the audited numbers.

For investors, this print matters because the stock has been under pressure over the past year, even as expectations for Q4 point to improved operating leverage. Multiple brokerage houses have published preview estimates, making the quarter an important checkpoint for margins, demand indicators, and management’s capital allocation stance.

Results schedule and board agenda

Nilkamal has indicated that the Q4 FY26 results are expected in May 2026. The board meeting agenda includes approval of audited financial statements for the quarter and year ended March 31, 2026. The same meeting is expected to take up the final dividend recommendation.

Because the financial statements are audited, the event is also relevant for full-year disclosures that typically accompany Q4 results, including business commentary and key balance sheet items. Investors will also watch for clarity on how the company is balancing dividends with ongoing investment needs.

Street preview: revenue, PAT and margin range

Analysts from MOFSL, YES Securities, JM Financial, and ICICI Direct have published Q4 FY26 preview estimates for Nilkamal. Consensus revenue is pegged at Rs 1,000–1,080 crore, compared with Rs 920 crore in Q3 FY26. Profit after tax (PAT) is estimated at Rs 50–65 crore for Q4 FY26, versus Rs 44 crore in Q3 FY26.

EBITDA margin expectations are clustered in the 8–10% range for Q4 FY26. Analysts also project 8–12% year-on-year revenue growth, attributing it to volume improvement and pricing stability.

What may be driving margins in Q4

A key theme in the previews is operating leverage. Analysts note that higher volumes in Q4 FY26 can improve fixed-cost absorption across Nilkamal’s operations. Better product mix, cost efficiencies, and scale benefits are also cited as factors supporting margins.

The margin range being discussed is 8–10% EBITDA, with commentary pointing to expansion from recent levels. The expectation of PAT rising from Rs 44 crore in Q3 to Rs 50–65 crore in Q4 is linked to this operating leverage.

Dividend watch: Rs 15–20 per share expected

Nilkamal’s board is expected to consider a final dividend of Rs 15–20 per share at the Q4 FY26 results meeting. The actual declaration will depend on Q4 FY26 profitability and the board’s capital allocation policy.

The company has a recent precedent of recommending a final dividend of Rs 20 per share for FY 2024-25. That FY25 dividend, if approved at the 39th AGM, was to be paid to eligible shareholders as of July 11, 2025, with a total proposed outflow of Rs 29.85 crore.

Key numbers at a glance

Stock setup: price, 52-week range and market value

Nilkamal was trading at around Rs 1,650 in early April 2026. The stock’s 52-week high is Rs 2,600 and the 52-week low is Rs 1,450. The 1-year return is -28%, which the article attributes to sector headwinds.

Market capitalisation stands at Rs 2,470 crore. Brokerage targets cited in the preview range from Rs 2,080 to Rs 2,100, with upside contingent on Q4 execution and the tone of FY27 guidance.

FY25 retrospective: revenue rose, EBITDA and PAT fell

The company’s FY 2024-25 snapshot, as provided in the text, shows modest top-line growth but softer profitability.

Nilkamal also operates across manufacturing and selling of material handling products, moulded furniture, modular and metal furniture, metal racking and storage, Bubbleguard packaging, mattresses, and primary rigid plastic packaging.

Balance sheet and investment context from FY25 disclosures

Nilkamal’s net borrowing stood at Rs 272 crore as of March 31, 2025, compared with Rs 192 crore as of March 31, 2024. The company incurred capex of Rs 280 crore in FY25, including spending on greenfield facilities at Hosur for modular furniture and foam, facilities for primary rigid plastic packaging at Puducherry and Noida, and investments across Bubbleguard and other businesses.

On capital structure, authorised share capital was Rs 30.00 crore as of March 31, 2025, while issued, subscribed and paid-up share capital was Rs 14.92 crore, comprising 1,49,22,525 equity shares of face value Rs 10 each.

What investors will track in the Q4 FY26 release

Beyond the headline revenue and PAT estimates, investors will look for confirmation of margin sustainability within the 8–10% EBITDA range discussed by analysts. Volume and pricing commentary will matter because the growth thesis cited for Q4 depends on volume improvement and pricing stability. Any clarity on cost trends and product mix will help interpret whether the quarter’s operating leverage is cyclical or more durable.

Dividend commentary will be closely watched as well, given the expected Rs 15–20 per share recommendation range and the company’s prior final dividend recommendation of Rs 20 per share for FY25.

Market impact and why the May 2026 outcome matters

With the stock near Rs 1,650 and well below its 52-week high of Rs 2,600, the Q4 FY26 event acts as a near-term catalyst primarily through earnings delivery. The previewed range of Rs 1,000–1,080 crore revenue and Rs 50–65 crore PAT sets a clear benchmark for expectations. If the audited numbers align with those estimates, attention is likely to shift to management’s full-year commentary and any FY27 guidance.

The brokerage targets of Rs 2,080–2,100 cited in the text are explicitly linked to results delivery and constructive FY27 guidance. As a result, the May 2026 board meeting outcome is likely to shape how investors evaluate both operating momentum and shareholder returns through dividends.

Conclusion

Nilkamal’s Q4 FY26 results are expected in May 2026, with the board set to approve audited financials and consider a final dividend recommendation. Analyst estimates cluster around Rs 1,000–1,080 crore revenue, Rs 50–65 crore PAT, and 8–10% EBITDA margin, along with a possible Rs 15–20 per share final dividend. The next clear milestone is the board meeting and audited results release in May 2026, where the dividend decision and management commentary will provide the most immediate cues for investors.