Nilkamal’s shares surged 20 % to hit an upper circuit of ₹2,116.30 on Thursday, 29 October, after the company reported a consolidated net profit of ₹68 crore for the July‑September quarter, a 100 % increase from ₹34 crore in the same period last year. The furniture maker’s revenue from operations rose 16 % YoY to ₹1,126 crore, up from ₹968 crore in the year‑ago quarter. Operating profit, or EBITDA, jumped 58 % to ₹135 crore from ₹86 crore in Q2 FY26, lifting the EBITDA margin to 12.02 % from 8.83 %.

Raw material prices remained elevated in Q2 FY27, a trend that began in Q1 FY27. In that earlier quarter, Nilkamal passed on the higher cost to customers, accepting a 37 % decline in sales volume and keeping capacity utilisation below 50 %. By contrast, in Q2 FY27 the firm maintained its selling prices, achieved a 54 % increase in sales volume over Q1, and pushed capacity utilisation above 70 %, supporting the jump in operating profit.

B2B sales grew 18 % in the quarter, while the retail and e‑commerce segment rose 8 %. Nilkamal’s management said the performance demonstrates the company’s ability to drive sustainable growth, improve operational efficiencies and strengthen profitability despite a volatile external environment. The EBITDA margin rose to 12.02 % from 8.83 % in Q2 FY26, reflecting improved cost management. The company also noted that its B2B revenue growth contributed significantly to the overall 16 % rise in operations revenue.

Capital expenditure in Q2 FY27 was ₹27 crore, down from ₹42 crore in Q2 FY26. Net borrowings fell to ₹254 crore as of 30 September 2026, compared with ₹376 crore on 30 September 2025. At 3 PM on 29 October, Nilkamal shares traded at ₹2,002.1, up 15.2 %. The company’s market capitalisation on 29 October was ₹3,020.32 crore.

Since the start of the year, Nilkamal shares have rallied 44 %. Over the past month they have risen 6 %, and over six months the stock has surged 52 %. The 52‑week high reached ₹2,149.50 on 3 September 2026, while the low was ₹1,050.50 on 30 March 2026. These movements reflect the company’s recent earnings performance and market sentiment.