Nirlon - Phase V Revenues Likely By FY22 End: ICICI Direct
Office space in a skyscraper. (Photographer: Hollie Adams/Bloomberg).

Nirlon - Phase V Revenues Likely By FY22 End: ICICI Direct


BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Nirlon Ltd.’s FY21 performance was muted. Revenues in FY21 grew 2.2% YoY to Rs 316.9 crore. For Q4 FY21, it was Rs 77.1 crore, down 6% YoY.

Occupancy, which was at 95.2%, was lower QoQ versus 97.5% in Q3, as one large licensee moved out post expiry of their license.

Ebitda for FY21 at Rs 237.2 crore was up 2.7% YoY.

Profit after tax at Rs 127.4 crore for FY21 was up 16.4% YoY, also aided by lower interest, due to capitalisation.

The company has an operational licensable area of ~1.9 million square feet across Phase I-IV at Nirlon Knowledge Park, of which, ~95.2% area has been licensed out.

Click on the attachment to read the full report:

ICICI Direct Nirlon Company Update.pdf


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