Earnings Call/Transcript
Nirlon Shares November 2 Earnings Call Audio
Nirlon Ltd has provided the audio recording of its earnings conference call held with investors and analysts on November 2, 2026, at 4:00 p.m.
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Commercial Services & Supplies
Diversified Commercial Services
5,615 Cr
Low Risk
20.0
19.8
0.5
12.0
664.20
476.85
Sales CAGR
Profit CAGR
ROE
ROCE

Earnings Call/Transcript
Nirlon Ltd has provided the audio recording of its earnings conference call held with investors and analysts on November 2, 2026, at 4:00 p.m.
Financial Results
Nirlon Limited announced unaudited financial results for the quarter and half year ended September 30, 2026, along with the statutory auditors’ limited review report.
Financial Results
Nirlon approved unaudited results for the quarter and half year ended September 30, 2026, an earnings presentation, and modifications to its Dividend Distribution Policy.
Financial Results
Nirlon approved unaudited financial results for the quarter and half year ended September 30, 2026, along with the statutory auditor’s limited review report.
Board Meeting
Nirlon Ltd’s Board approved modifications to the Dividend Distribution Policy at its meeting held on November 2, 2026.
Investor Presentation
Nirlon Ltd released its investor presentation for the quarter and half year ended September 30, 2026, covering financial performance, operations, occupancy and debt.
Nirlon Ltd (NIRLON) is currently trading at 650.35 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Nirlon Limited develops and manages commercial and IT-ITES real estate, primarily through its 23-acre Nirlon Knowledge Park in Goregaon, Mumbai, alongside a 75% interest in Nirlon House, Worli. Its historical manufacturing activities have been substantially deemphasised as the company transitions toward recurring office licensing income. Nirlon’s completed NKP portfolio provides approximately 3.08 million square feet of chargeable office area, with occupancy sustained at 99.8% in Q2-FY27 despite a major tenant vacating approximately 450,000 square feet across FY25-FY26. Relicensing to existing and new occupants demonstrates continued demand for quality Mumbai offices. H1-FY27 total income increased 3.2% year-on-year to INR 3,468 million, while EBITDA rose 2.0% to INR 2,701 million at a still-exceptional 77.88% margin. However, reported PAT declined 31.4% because the prior-year period benefited from a one-time deferred-tax reversal of INR 6,950.51 lakhs. The balance sheet remains highly leveraged, with HSBC debt outstanding at approximately INR 1,150 crore, although net debt-to-EBITDA improved to 1.81 times in FY26. Operating cash flow reached INR 2,377 million in H1-FY27, supporting debt servicing and a substantial INR 1,352 million dividend payout. Nirlon combines strategically located, environmentally certified Mumbai assets with a marquee tenant base and GIC Singapore’s majority ownership. The revised dividend policy preserves flexibility to retain cash for expansion, acquisitions, working capital, debt repayment, or other investments rather than guaranteeing a fixed payout.
Over the past 52 weeks, Nirlon Ltd has traded between a low of ₹476.85 and a high of ₹664.20. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Nirlon Ltd has a market capitalization of approximately 5,614.93. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Nirlon Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 19.97 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 5,614.93 Cr, Nirlon Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Nirlon Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Nirlon Ltd is 19.97. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Nirlon reported Rs 237.7362 crore of net cash from operating activities for the six months ended September 30, 2026. This was Rs 37.8256 crore higher than Rs 199.9106 crore in the corresponding six months of 2025. Income taxes paid were Rs 45.3764 crore in the latest period.
Nirlon reported profit after tax of Rs 71.8896 crore for the quarter ended September 30, 2026, versus Rs 147.6640 crore a year earlier. The previous-year quarter included a Rs 69.5051 crore reversal of deferred tax following adoption of the new tax regime, while the latest quarter recorded total tax expense of Rs 24.2116 crore.
Nirlon’s profit after tax fell to Rs 141.3 crore from Rs 206.1 crore because H1-FY26 included a Rs 69.50 crore deferred-tax liability reversal. Profit before tax nevertheless increased 3.4% to Rs 189.4 crore, while tax changed from a Rs 22.9 crore benefit to a Rs 48.1 crore expense.
Nirlon reported net debt-to-EBITDA of 1.81 times in FY26. The ratio was 1.90 times in FY25 and 2.25 times in FY24, according to its key financial highlights. The presentation does not disclose the calculation behind the net-debt figure.