Key Metrics of Nirma
About Nirma
Sectors
Company details
- Website
- nirma.co.in
Operational Areas of Nirma
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 29 May 2026 | ICRA | Reaffirmed | — | A1+ | — | ₹1,500 Cr | View |
Credit strengths (ICRA, May 2026)
—
Credit challenges
− Competition in soaps and detergents
Nirma is a significant player in the detergent market after Hindustan Unilever Limited (HUL), Rohit Surfactant (brand: Ghari) and P&G.
− Vulnerability of profitability to commodity cycles
Soda ash, caustic soda and LAB drive 60-65% of Nirma’s revenues on a standalone basis.
− Modest capitalisation and coverage metrics along with sizeable contingent liabilities
The company’s capitalisation and coverage metrics have moderated owing to the sizeable debt availed for the acquisition of Alivus Lifesciences Limited in March 2024 and the negative impact on its networth on account of write-down on the investments in Niyogi Enterprises Private Limited (NEPL) in FY2025.
Could lead to a downgrade
Pressure on the rating may arise if there is a material deterioration in the company’s revenue and profitability and/or its working capital cycle that would weaken the leverage and coverage metrics and significantly moderate the
Agency-reported financials (ICRA, 29 May 2026)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Operating income | ₹12,207 Cr | ₹5,172 Cr |
| PAT | ₹-2,310.00 Cr | ₹491 Cr |
| OPBDIT/OI | 15.4% | 19.6% |
| PAT/OI | -18.9% | 9.5% |
| Total outside liabilities/Tangible net worth (times) | 1.00× | — |
| Total debt/OPBDIT (times) | 5.60× | 2.90× |
| Interest coverage (times) | 3.50× | 3.40× |
| Revenue growth (YoY) | — | −57.6% |
| EBITDA (margin × income) | ₹1,880 Cr | ₹1,014 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹10,527 Cr | ₹2,940 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹537 Cr | ₹298 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Commercial paper | Commercial paper | ₹1,500 Cr | ₹1,500 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 42% |
| Information on file | 33% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 34% chance the next rating action is stable or better
- Interest coverage 3.4×
Rated limits by facility
Timeline
From the report
Modest capitalisation and coverage metrics along with sizeable contingent liabilities - The company’s capitalisation and coverage metrics have moderated owing to the sizeable debt availed for the acquisition of Alivus Lifesciences Limited in March 2024 and the negative impact on its networth on account of write-down on the investments in Niyogi Enterprises Private Limited (NEPL) in FY2025.
From the report
Liquidity position: Adequate Nirma’s liquidity position is expected to remain adequate, supported by cash flow from operations in the range of Rs. 1,200- 1,440 crore per annum over FY2027 and FY2028 at a consolidated level, unencumbered cash balances of around Rs. 1,376 crore (provisional) at a standalone level as on March 31, 2026, and a cushion of ~Rs. 398 crore in working capital limits for Nirma standalone as on April 30, 2026 (on the basis of drawing power).
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Nirma
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 RSPL Group |
Detergents & Home Care · FMCG - Personal & Home Care | rsplgroup.com | — | India |
 Hindustan Unilever |
Part of Unilever. | careers.unilever.com | 1933 | Mumbai, Global |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Detergents, soaps and soda ash
Filings
No filings on record yet.