- CIN
- U15400MH2003PLC139042
- ISIN
- —
- Incorporated
- 29 Apr 2003
- Registered state
- Maharashtra
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Business overview
Nirvaan Consumer Brands Limited sells packaged snacks, spices and home-care products under four owned brands, through 1.4 million retail outlets and a direct-to-consumer channel, manufactured at six plants, with FY2026 revenue of ₹4,180 crore growing in the mid-teens. Two of the four brands hold the leading share in their category in western India, and the direct-to-consumer channel now contributes 14% of revenue at a materially higher gross margin than general trade. The company is currently in the pre-IPO stage, with a listing under active consideration, and shares change hands only through negotiated off-market transfers.
Key highlights
- Gross margin of 43.6%, up 180 basis points year on year
- Direct-to-consumer channel at 14% of revenue
- Advertising spend held at 8.4% of revenue
- Working capital cycle of 32 days
Financial snapshot
FY2026 · Audited · Source: Audited annual report
- Revenue FY2026
- ₹4,180.00 Cr
- EBITDA
- ₹742.00 Cr
- PAT
- ₹468.00 Cr
- Net worth
- ₹2,640.00 Cr
- Total debt
- ₹320.00 Cr
- Cash & equivalents
- ₹810.00 Cr
- Operating cash flow
- ₹596.00 Cr
- EPS
- ₹16.48
Management & board
- NKSince 2016
Nilesh Kulkarni
Managing Director & CEO
Has led Nirvaan Brands since 2016 and previously held senior operating roles in the same sector.
- NPSince 2022
Nilesh Pillai
Chief Financial Officer
- RPSince 2013
Ritu Pillai
Executive Director — Operations
- NISince 2013
Neha Iyer
Company Secretary & Compliance Officer
- MNSince 2017
Meera Nair
Independent Director
- PPSince 2015
Pallavi Pillai
Independent Director
Reported financials · FY2024–FY2026
Figures in ₹ crore unless stated. Every column carries its own source and audit status.
| Particulars | FY2026Audited | FY2025Audited | FY2024Audited | YoY |
|---|---|---|---|---|
| Profit & loss | ||||
| Revenue | ₹4,180 Cr | ₹3,620 Cr | ₹3,140 Cr | +15.5% |
| EBITDA | ₹742 Cr | ₹604 Cr | ₹486 Cr | +22.8% |
| Profit after tax | ₹468 Cr | ₹372 Cr | ₹286 Cr | +25.8% |
| Earnings per share | ₹16.48 | ₹13.10 | ₹10.07 | — |
| Balance sheet | ||||
| Net worth | ₹2,640 Cr | ₹2,280 Cr | ₹1,980 Cr | +15.8% |
| Total debt | ₹320 Cr | ₹380 Cr | ₹420 Cr | — |
| Cash & equivalents | ₹810 Cr | ₹640 Cr | ₹520 Cr | — |
| Total assets | ₹4,120 Cr | ₹3,680 Cr | ₹3,280 Cr | — |
| Book value per share | ₹92.96 | ₹80.28 | ₹69.72 | — |
| Cash flow | ||||
| Operating cash flow | ₹596 Cr | ₹482 Cr | ₹398 Cr | — |
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- FY2026 · Audited annual report · period ended 31 Mar 2026 · last updated in the back office 18 Sep 2026
- FY2025 · Audited annual report · period ended 31 Mar 2025
- FY2024 · Audited annual report · period ended 31 Mar 2024
Revenue, EBITDA and PAT
₹ crore. A year with no reported figure is left out rather than drawn as zero.
- Revenue
- EBITDA
- PAT
Every ratio on this tab is derived from the reported figures in the Financials tab and the indicative price in the header — nothing here is a stored value. A ratio that cannot be justified is shown as — with the reason, rather than as a negative or a zero. Ratios move when the indicative price moves.
Size
Balance-sheet items as at FY2026
- Market cap
- ₹31,808 Cr
- Enterprise value
- ₹31,318 Cr
- Indicative price
- ₹1,120
- Shares outstanding
- 28,40,00,000
Indicative price × shares outstanding
Market cap + debt − cash
Valuation multiples
- P/E
- 68.0x
- P/B
- 12.1x
- EV / EBITDA
- 42.2x
- EPS
- ₹16.48
- Book value / share
- ₹92.96
- Debt / equity
- 0.1x
On FY2026 PAT
Returns & margins
- ROE
- 17.7%
- ROCE (EBITDA basis)
- 25.1%
- EBITDA margin
- 17.8%
- PAT margin
- 11.2%
- Revenue growth
- 15.5%
- Cash / market cap
- 2.5%
EBITDA ÷ (net worth + debt)
Indicative price snapshots
Each point is a dated dealer-quote average. There is no continuous trading behind these numbers, so no daily series is drawn.
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Snapshot log
| Date | Indicative price | Change | Source |
|---|---|---|---|
| 20 Sep 2026 | ₹1,120 | +0.96% | Dealer desk average, 6 quotes |
| 20 Aug 2026 | ₹1,109 | +5.25% | Dealer desk average |
| 20 Jul 2026 | ₹1,054 | +0.47% | Dealer desk average |
| 20 Jun 2026 | ₹1,049 | +0.78% | Dealer desk average |
| 20 May 2026 | ₹1,041 | +1.96% | Dealer desk average |
| 20 Apr 2026 | ₹1,021 | +1.68% | Dealer desk average |
| 20 Mar 2026 | ₹1,004 | +2.35% | Dealer desk average |
| 20 Feb 2026 | ₹981 | +1.72% | Dealer desk average |
| 20 Jan 2026 | ₹964 | +2.64% | Dealer desk average |
| 20 Dec 2025 | ₹940 | +2.82% | Dealer desk average |
| 20 Nov 2025 | ₹914 | +0.99% | Dealer desk average |
| 20 Oct 2025 | ₹905 | +1.46% | Dealer desk average |
| 20 Sep 2025 | ₹892 | — | Dealer desk average |
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Change is measured against the previous snapshot, not against a calendar period, because snapshots are not collected on a fixed schedule. The header percentages use fixed windows and may not tie exactly to this column.
Corporate actions & events
Dated events sourced from company filings and registrar records.
- Split11 Mar 2026
Sub-division of equity shares
Face value sub-divided to improve tradability ahead of a listing.
Company filing / RoC
- Dividend4 Jan 2025
Final dividend declared
Dividend recommended by the board, subject to shareholder approval at the AGM.
Company filing / RoC
IPO / listing status
- Current stage
- Pre-IPO
- DRHP filed
- —
- RHP filed
- —
- Expected window
- Not announced — under evaluation
- Registrar
- —
- Book-running managers
- —
Listing timelines are indicative and subject to regulatory approval and market conditions. A filing is not a guarantee of listing.
Lock-in applies after listing
Shares acquired before a public issue are typically subject to a statutory lock-in of six months from the date of listing. Confirm the applicable period before transacting.
Read the lock-in explainerResearch
Information currently unavailable
No research has been published on Nirvaan Brands yet. Sector notes that mention it will appear here when they are.
Documents
Public documents open directly. Private documents are released to verified clients on request.
| Document | Type | FY / date | Source | Access |
|---|---|---|---|---|
| Annual Report FY20264.2 MB | Annual report | FY2026 | Company | Download |
| Annual Report FY20253.8 MB | Annual report | FY2025 | Company | Download |
| Audited financial statements — three-year summary620 KB | Financials | FY2024–FY2026 | Statutory filings | Download |
| Investor presentation9.1 MB | Presentation | 2026-07-15 | Company | On request |
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Risk assessment
Our own reading of the disclosed information. Treat the levels as judgement, not as fact.
Input cost
MediumEdible oil and packaging prices move gross margin quickly.
Regional concentration
MediumWest India accounts for 54% of sales.
Modern trade terms
LowMargin pressure from large-format retail is manageable.
Risks common to every unlisted holding. You may not find a buyer when you want one, at any price. A listing may be delayed indefinitely or may never happen, and shares can list below the price at which they changed hands in the unlisted market. Disclosure by unlisted companies is thinner than by listed ones, and the indicative price is based on infrequent dealer quotes rather than continuous trading.