NIRLON

Nirlon share price & financials

Price
₹621.6
Market cap
₹5.5k Cr
Sector
Services
Calls analysed
2
Latest concall · Q4 FY26 · call held 26 May 2026

NIRLON Q4 FY26

EBITDA ₹136 cr +8%EBITDA Margin 77.85% PAT ₹71 cr +32%PAT Margin 40.5%

What went well

  • Total Income for Q4 FY26 grew 9% YoY to ₹174 crores.
  • Profit After Tax (PAT) for Q4 FY26 increased 32% YoY to ₹71 crores.
  • Full Year FY26 PAT grew 59% YoY to ₹346 crores, significantly boosted by a one-time tax adjustment.

What to watch

  • Analyst concern regarding ₹287 crores held in fixed deposits earning 5.5% interest while carrying ₹1150 crores of HSBC debt at an implied 7.75% interest rate, leading to a 2.25% clear loss.
  • Management provided no significant update or timeline for the potential sale of Nirlon House, a long-standing value unlock opportunity.
Read the full call →

What Nirlon Limited does

Nirlon Limited owns and licenses (leases) commercial real estate in Mumbai, earning income primarily through license fees on office/commercial space. Its portfolio consists of two properties, Nirlon Knowledge Park (NKP) and Nirlon House, both in Goregaon (East). The company reports a single operating segment under Ind AS 108: licensing of investment properties, with no other disclosed business lines.

Segments

  • Licensing of investment properties
Commercial properties operated
2 (Nirlon Knowledge Park and Nirlon House)
Property location
Goregaon (East), Mumbai — single-city portfolio
Reportable business segments
1 (licensing of investment properties)
Nirlon House ownership structure
Held jointly with multiple owners, per management
Founded 1958Headquarters Goregaon (East), Mumbai, Maharashtra Company website

Guidance record · Q4 FY26

what the last two calls moved 6 tracked 5 delivered 0 missed 1 open
  • Interim Dividend delivered said Q3 FY26 Promised: INR 15 (150%) per share for FY26 Q4 FY26: This was an interim dividend declared and achieved in the previous quarter. No new update.
  • Rental Income Growth on track said Q3 FY26 Promised: Primarily through contracted escalations Q4 FY26: Management confirmed high occupancy of 99.7% and no significant lease renewals in FY27, reinforcing that growth will continue to come from contracted escalations as per the stated strategy.

All 6 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 3.1%, net profit up 19.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue160 161 158 163 165 +3%170 +6%171 +8%168 +3%
EBITDA129 131 123 128 129 +0%132 +1%132 +7%129 +1%
Net profit56 58 54 58 148 +164%69 +19%71 +31%69 +19%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +12.5% YTD

₹550₹600₹650AprMayJunJulAugSeptQ4 FY26 — 26 May 2026

YTD: ₹539.79 on 20 Apr 2026 → ₹607.5. High ₹649.8 (2 Sept 2026), low ₹539.79 (20 Apr 2026).

How the price took the results

close before → close after

Q4 FY26
−1.6%
26 May

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 5.4% a year over 2 years, FY24 to FY26. Operating margin narrowed to 77.9%.

Year endingFY24FY25FY26
Revenue₹602 Cr₹636 Cr₹669 Cr
Operating profit₹478 Cr₹503 Cr₹521 Cr
Operating margin79.4%79.1%77.9%
Interest₹123 Cr₹117 Cr₹108 Cr
Depreciation₹57 Cr₹55 Cr₹56 Cr
Net profit₹205 Cr₹218 Cr₹346 Cr
Net margin34.1%34.3%51.7%
Cash from operations₹425 Cr₹480 Cr₹477 Cr
Free cash flow₹370 Cr₹434 Cr₹434 Cr
ROCE28.0%30.0%31.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹90 Cr₹90 Cr₹90 Cr₹90 Cr₹90 Cr₹90 Cr
Reserves₹484 Cr₹388 Cr₹312 Cr₹283 Cr₹374 Cr₹378 Cr
Borrowings₹978 Cr₹1.2k Cr₹1.1k Cr₹1.1k Cr₹1.1k Cr₹1.1k Cr
Other liabilities₹353 Cr₹542 Cr₹554 Cr₹607 Cr₹695 Cr₹634 Cr
Total liabilities₹1.9k Cr₹2.2k Cr₹2.1k Cr₹2.1k Cr₹2.3k Cr₹2.3k Cr
Fixed assets₹705 Cr₹2.0k Cr₹1.9k Cr₹1.9k Cr₹1.8k Cr₹1.8k Cr
Capital work in progress₹1.1k Cr₹13 Cr₹6 Cr₹3 Cr₹21 Cr₹7 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹60 Cr₹200 Cr₹163 Cr₹214 Cr₹439 Cr₹411 Cr
Total assets₹1.9k Cr₹2.2k Cr₹2.1k Cr₹2.1k Cr₹2.3k Cr₹2.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +11.23 pp while FIIs trimmed −7.76 pp. The shareholder count shrank 2% to 26,433.

Promoters
67.7%
FIIs
4.5%
DIIs
0.0%
Public
27.9%

Since Jun 2025

  • Public +11.23 pp
  • FIIs −7.76 pp
  • DIIs −3.40 pp

How it drifted, 12 quarters

Over this window the public went from 15.3% to 27.9% — +12.6 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 70.3%, FIIs 14.4%, DIIs 0.0%, Public 15.3%.Dec '23: Promoters 70.3%, FIIs 14.3%, DIIs 0.0%, Public 15.4%.Mar '24: Promoters 67.8%, FIIs 14.3%, DIIs 0.0%, Public 17.8%.Jun '24: Promoters 67.8%, FIIs 10.5%, DIIs 4.8%, Public 17.0%.Sep '24: Promoters 67.8%, FIIs 10.4%, DIIs 4.8%, Public 17.1%.Dec '24: Promoters 67.7%, FIIs 10.5%, DIIs 4.8%, Public 16.9%.Mar '25: Promoters 67.7%, FIIs 12.0%, DIIs 3.7%, Public 16.6%.Jun '25: Promoters 67.7%, FIIs 12.3%, DIIs 3.4%, Public 16.6%.Sep '25: Promoters 67.7%, FIIs 13.3%, DIIs 2.4%, Public 16.6%.Dec '25: Promoters 67.7%, FIIs 13.3%, DIIs 2.3%, Public 16.7%.Mar '26: Promoters 67.7%, FIIs 15.8%, DIIs 0.1%, Public 16.5%.Jun '26: Promoters 67.7%, FIIs 4.5%, DIIs 0.0%, Public 27.9%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Nirlon Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Reco Berry Private Limited 63.92%unchanged
Bsrep Iv FPI Two Holdings (Difc) Ltd. 12.15%+0.45 pp
Tvf Fund Limited FPI fund4.31%+0.40 pp
Gulu Chainrai Waney 2.96%unchanged
Nihar Nandan Nilekani 2.62%unchanged
Investor Eduction And Protection Fund Authority 1.62%unchanged
Rahul V Sagar 1.48%unchanged
Deltron Pte Ltd 1.02%unchanged
Rajani Manhar Bhagat 0.75%unchanged
Poonam Manhar Bhagat 0.45%unchanged
Shital Trading And Interiors Pvt. Ltd. 0.03%unchanged
Alfano Pte Ltd 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (2)

Read the Q4 FY26 call →

Learn to analyse Nirlon Limited

Guides on how to read this kind of business and the numbers that matter.