Narmada Agrobase Ltd
Incorporated in 2013, Narmada Agrobase Ltd manufactures and sells cotton seed and cattle feed[1]
- Market Cap ₹ 77.8 Cr.
- Current Price ₹ 20.5
- High / Low ₹ 28.4 / 14.6
- Stock P/E 20.3
- Book Value ₹ 15.3
- Dividend Yield 0.00 %
- ROCE 13.0 %
- ROE 11.2 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 8.43% over last 3 years.
- Promoter holding has decreased over last 3 years: -16.2%
- Working capital days have increased from 125 days to 195 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Animal Feed
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21.97 | 30.53 | 34.45 | 37.00 | 47.50 | 61.46 | 58.14 | 34.61 | 49.48 | 49.74 | 64.68 | 66.17 | |
| 21.12 | 29.35 | 33.02 | 35.43 | 45.87 | 59.00 | 55.90 | 32.61 | 47.46 | 47.22 | 59.10 | 61.62 | |
| Operating Profit | 0.85 | 1.18 | 1.43 | 1.57 | 1.63 | 2.46 | 2.24 | 2.00 | 2.02 | 2.52 | 5.58 | 4.55 |
| OPM % | 3.87% | 3.87% | 4.15% | 4.24% | 3.43% | 4.00% | 3.85% | 5.78% | 4.08% | 5.07% | 8.63% | 6.88% |
| 0.02 | 0.02 | 0.02 | 0.07 | 0.28 | 0.03 | 0.04 | 0.06 | 0.05 | 0.07 | 0.66 | 1.30 | |
| Interest | 0.43 | 0.70 | 0.75 | 0.82 | 0.70 | 1.03 | 0.85 | 0.82 | 0.86 | 0.96 | 0.84 | 0.81 |
| Depreciation | 0.27 | 0.27 | 0.30 | 0.28 | 0.54 | 0.40 | 0.42 | 0.37 | 0.32 | 0.28 | 0.24 | 0.22 |
| Profit before tax | 0.17 | 0.23 | 0.40 | 0.54 | 0.67 | 1.06 | 1.01 | 0.87 | 0.89 | 1.35 | 5.16 | 4.82 |
| Tax % | 17.65% | 21.74% | 25.00% | 25.93% | 25.37% | 25.47% | 32.67% | 31.03% | 26.97% | 24.44% | 20.74% | |
| 0.14 | 0.19 | 0.30 | 0.40 | 0.50 | 0.79 | 0.68 | 0.61 | 0.65 | 1.02 | 4.09 | 3.83 | |
| EPS in Rs | 0.22 | 0.21 | 0.33 | 0.15 | 0.13 | 0.21 | 0.18 | 0.16 | 0.17 | 0.27 | 1.08 | 1.01 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 15.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 1% |
| 3 Years: | 23% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 40% |
| 5 Years: | 39% |
| 3 Years: | 89% |
| TTM: | 26% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 6% |
| 1 Year: | 30% |
| Return on Equity | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 7% |
| 3 Years: | 8% |
| Last Year: | 11% |
Balance Sheet
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1.25 | 1.83 | 1.83 | 5.19 | 7.53 | 13.55 | 13.55 | 13.55 | 13.55 | 13.55 | 37.94 | 37.94 |
| Reserves | 0.11 | 0.30 | 0.64 | 0.42 | 6.04 | 0.71 | 1.39 | 1.68 | 2.33 | 3.35 | 17.93 | 19.98 |
| 6.71 | 7.93 | 10.22 | 7.39 | 9.13 | 8.44 | 8.69 | 9.72 | 10.07 | 9.68 | 9.47 | 10.53 | |
| 0.89 | 0.67 | 0.98 | 1.44 | 0.88 | 1.57 | 3.29 | 1.55 | 1.37 | 1.38 | 1.12 | 2.27 | |
| Total Liabilities | 8.96 | 10.73 | 13.67 | 14.44 | 23.58 | 24.27 | 26.92 | 26.50 | 27.32 | 27.96 | 66.46 | 70.72 |
| 2.38 | 2.71 | 2.66 | 2.74 | 4.66 | 3.89 | 3.50 | 3.75 | 3.44 | 3.18 | 2.97 | 2.98 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 |
| Investments | 0.21 | 0.21 | 0.43 | 0.47 | 0.61 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 |
| 6.37 | 7.81 | 10.58 | 11.23 | 18.31 | 20.38 | 23.42 | 22.75 | 23.88 | 24.78 | 63.47 | 67.49 | |
| Total Assets | 8.96 | 10.73 | 13.67 | 14.44 | 23.58 | 24.27 | 26.92 | 26.50 | 27.32 | 27.96 | 66.46 | 70.72 |
Cash Flows
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -1.25 | 1.21 | -5.10 | 0.49 | 0.30 | -0.08 | 0.05 | 0.93 | -15.93 | |||
| -0.44 | -0.34 | -2.32 | 0.46 | 0.04 | 0.06 | 0.37 | 0.35 | -3.58 | |||
| 1.52 | -0.82 | 8.52 | -1.94 | -0.40 | 0.22 | -0.52 | -1.35 | 33.83 | |||
| Net Cash Flow | -0.17 | 0.05 | 1.11 | -1.00 | -0.07 | 0.20 | -0.10 | -0.07 | 14.32 |
Ratios
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 30.07 | 26.66 | 31.89 | 31.07 | 58.02 | 67.41 | 101.83 | 151.97 | 97.52 | 97.74 | 107.56 |
| Inventory Days | 73.60 | 54.43 | 70.88 | 75.62 | 70.33 | 37.81 | 28.83 | 77.66 | 75.95 | 84.67 | 154.49 |
| Days Payable | 10.54 | 6.97 | 8.63 | 11.98 | 3.54 | 4.02 | 15.92 | 10.03 | 7.25 | 6.35 | 1.38 |
| Cash Conversion Cycle | 93.13 | 74.11 | 94.14 | 94.71 | 124.80 | 101.19 | 114.74 | 219.59 | 166.22 | 176.06 | 260.66 |
| Working Capital Days | 21.27 | 25.70 | 26.81 | 25.35 | 59.01 | 53.09 | 64.10 | 104.62 | 87.34 | 94.00 | 194.58 |
| ROCE % | 10.26% | 10.11% | 10.59% | 7.68% | 9.21% | 8.20% | 6.96% | 6.88% | 8.79% | 13.05% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
29 Nov - Earnings Call Transcript of Q2 & H1 FY 26.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
27 Nov - Uploaded audio of Nov 2025 investor call on Q2 & H1 FY26 unaudited results; MD attended.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
25 Nov - Investor Presentation - Q2 & H1 FY 26.
-
Intimation Of Earnings Conference Call Invitation
22 Nov - Q2 & H1 FY26 earnings call on 26 Nov 2025 at 04:00 PM IST.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
15 Nov - Q2 FY26 revenue ₹1,228.16L, PAT ₹102.66L; H1 revenue ₹2,369.51L, PAT ₹204.56L.
Annual reports
Concalls
-
Nov 2025Transcript PPT
-
Aug 2025TranscriptPPT
Product Portfolio[1][2]
Cotton Seed and Allied Products: Cottonseed Meal, Bleached Cotton Linters, Cotton Linters, Delinted Cotton Seed
Cattle Feed Products: Compound Cattle Feed (Pellet), Cattle Feed (Mesh) – Pashu Aahar
Value Added Products: Pelletized Cattle Feed, Molasses-Enriched Feed Blocks, Cottonseed Oil