Narmada Agrobase Ltd
Incorporated in 2013, Narmada Agrobase Ltd manufactures and sells cotton seed and cattle feed[1]
- Market Cap ₹ 130 Cr.
- Current Price ₹ 34.3
- High / Low ₹ 37.0 / 14.6
- Stock P/E 33.9
- Book Value ₹ 15.3
- Dividend Yield 0.00 %
- ROCE 13.0 %
- ROE 11.2 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
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 | 73.68 | |
| 21.12 | 29.35 | 33.02 | 35.43 | 45.87 | 59.00 | 55.90 | 32.61 | 47.46 | 47.22 | 59.10 | 69.09 | |
| Operating Profit | 0.85 | 1.18 | 1.43 | 1.57 | 1.63 | 2.46 | 2.24 | 2.00 | 2.02 | 2.52 | 5.58 | 4.59 |
| OPM % | 3.87% | 3.87% | 4.15% | 4.24% | 3.43% | 4.00% | 3.85% | 5.78% | 4.08% | 5.07% | 8.63% | 6.23% |
| 0.02 | 0.02 | 0.02 | 0.07 | 0.28 | 0.03 | 0.04 | 0.06 | 0.05 | 0.07 | 0.66 | 1.27 | |
| Interest | 0.43 | 0.70 | 0.75 | 0.82 | 0.70 | 1.03 | 0.85 | 0.82 | 0.86 | 0.96 | 0.84 | 0.80 |
| 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 | 4.84 |
| 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 | 3.84 | |
| 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 | 1.02 |
| 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: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 40% |
| 5 Years: | 39% |
| 3 Years: | 89% |
| TTM: | -2% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 27% |
| 1 Year: | 89% |
| 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 | ||
| Free Cash Flow | -1.49 | 0.84 | -7.56 | 0.36 | 0.26 | -0.08 | 0.05 | 0.92 | -15.98 | ||
| CFO/OP | -83% | 86% | -299% | 24% | 28% | 14% | 14% | 45% | -271% |
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% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Capacity Utilization (Average) % |
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| Installed Capacity (Consolidated) TPA |
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| Actual Production Volume - Cattle Feed Tones |
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| Actual Production Volume - Delinted Cotton Seed Tones |
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| Installed Capacity - Cattle Feed TPA |
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| Installed Capacity - Delinted Cotton Seed TPA |
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| Number of Brands Number |
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| Retail Points Number |
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| Wholesale Points Number |
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| Client Retention Rate % |
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Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
4 Apr - Filed Regulation 74(5) certificate for quarter ended March 31, 2026.
-
DISCLOSURE UNDER REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015 - RECEIPT OF ADMINISTRATIVE WARNING LETTER
2 Apr - SEBI issued warning letter for delayed update of materiality policy under LODR.
-
Announcement under Regulation 30 (LODR)-Change in Management
28 Mar - Rajesh Bhati & Associates resigned; Hanish Agrawal & Associates appointed internal auditor effective 28-Mar-2026.
-
Board Meeting Outcome for Outcome Of Board Meeting
28 Mar - Resignation of Rajesh Bhati & Associates and appointment of Hanish Agrawal & Associates as internal auditor effective 28-03-2026.
- Closure of Trading Window 24 Mar
Annual reports
Concalls
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025Transcript PPT
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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