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Narmada Agrobase Overview

Narmada Agrobase Ltd manufactures and sells cotton seeds and livestock feeds in India. The organization provides cotton seed meal cakes, cotton seed meal grinders, delinted cotton seeds, guar meals, soybean food, and natural fertilizers. Its products are used for fertilizers and animal feed. The company also offers by-products, along with cotton linters for use in various industries, along with furniture, paper, yarns, absorbent cotton, and many others. Narmada Agrobase Ltd offers its merchandise beneath the Churma and Gaay Chhaap Narmada Pashu...Read More

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Narmada Agrobase Key Financials

Market Cap ₹121 Cr.

Stock P/E 29.7

P/B 2.1

Current Price ₹32

Book Value ₹ 15.5

Face Value 10

52W High ₹35.6

Dividend Yield 0%

52W Low ₹ 14.6

Narmada Agrobase Share Price

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Volume
Price

Narmada Agrobase Quarterly Price

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Narmada Agrobase Peer Comparison

Narmada Agrobase Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 11 12 19 12 10 14 29 11 12 21
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 11 12 19 12 10 14 30 11 12 22
Total Expenditure 11 12 18 11 8 12 29 10 11 20
Operating Profit 1 0 1 2 2 2 1 2 2 2
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 1 1 2 1 1 1 1 1
Provision for Tax 0 0 0 0 0 0 -0 0 0 0
Profit After Tax 0 0 1 1 1 1 1 1 1 1
Adjustments 0 0 0 -0 0 0 0 0 -0 0
Profit After Adjustments 0 0 1 1 1 1 1 1 1 1
Adjusted Earnings Per Share 0.1 0.1 0.3 0.6 1 0.3 0.2 0.3 0.3 0.3

Narmada Agrobase Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 22 31 34 37 48 62 58 35 50 50 66 73
Other Income 0 0 0 0 0 0 0 0 0 0 1 0
Total Income 22 31 34 37 48 62 58 35 50 50 66 75
Total Expenditure 21 30 33 35 46 59 56 33 48 48 60 70
Operating Profit 1 1 1 2 2 2 2 2 2 3 6 7
Interest 0 1 1 1 1 1 1 1 1 1 1 0
Depreciation 0 0 0 0 1 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 0 1 1 1 1 1 1 1 5 4
Provision for Tax 0 0 0 0 0 0 0 0 0 0 1 0
Profit After Tax 0 0 0 0 0 1 1 1 1 1 4 4
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 0 1 1 1 1 1 4 4
Adjusted Earnings Per Share 0.3 0.3 0.4 0.3 0.3 0.4 0.4 0.3 0.4 0.6 1.1 1.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 32% 24% 1% 12%
Operating Profit CAGR 100% 44% 25% 20%
PAT CAGR 300% 59% 32% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 90% 26% 32% NA%
ROE Average 11% 7% 6% 8%
ROCE Average 13% 10% 9% 9%

Narmada Agrobase Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1 2 2 6 14 14 15 15 16 17 56
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 3 4 4 1 1 1 1 0 1 0 1
Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0
Total Current Liabilities 5 4 7 7 9 9 11 11 11 11 9
Total Liabilities 9 11 14 14 24 24 27 26 27 28 66
Fixed Assets 2 3 3 3 5 4 4 4 3 3 3
Other Non-Current Assets 1 1 2 2 1 2 2 1 1 1 5
Total Current Assets 6 7 9 10 18 18 21 22 23 24 59
Total Assets 9 11 14 14 24 24 27 26 27 28 66

Narmada Agrobase Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 0 0 0 0 2 1 0 1 1 0
Cash Flow from Operating Activities -2 -1 -1 1 -5 0 0 -0 0 1 -16
Cash Flow from Investing Activities -1 -1 -0 -0 -2 0 0 0 0 0 -4
Cash Flow from Financing Activities 2 1 2 -1 9 -2 -0 0 -1 -1 34
Net Cash Inflow / Outflow -0 0 -0 0 1 -1 -0 0 -0 -0 14
Closing Cash & Cash Equivalent 0 0 0 0 1 1 0 1 1 0 15

Narmada Agrobase Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.29 0.28 0.36 0.32 0.28 0.44 0.38 0.34 0.36 0.57 1.08
CEPS(Rs) 0.74 0.58 0.71 0.55 0.58 0.66 0.61 0.54 0.54 0.72 1.14
DPS(Rs) 0 0 0 0 0.04 0 0 0 0 0 0
Book NAV/Share(Rs) 2.45 2.6 2.9 4.52 7.55 7.8 8.22 8.47 8.83 9.4 14.73
Core EBITDA Margin(%) 3.82 3.82 4.13 4.22 3.44 3.98 3.79 5.7 4.03 5 8.49
EBIT Margin(%) 2.72 3.04 3.36 3.65 2.89 3.38 3.19 4.82 3.5 4.6 9.13
Pre Tax Margin(%) 0.77 0.77 1.18 1.44 1.41 1.71 1.73 2.49 1.78 2.69 7.85
PAT Margin (%) 0.77 0.77 0.89 1.07 1.04 1.28 1.17 1.74 1.3 2.03 6.22
Cash Profit Margin (%) 1.96 1.62 1.75 1.84 2.19 1.93 1.89 2.78 1.94 2.57 6.59
ROA(%) 2.38 2.42 2.5 2.83 2.61 3.3 2.67 2.27 2.42 3.69 8.66
ROE(%) 12.67 13.08 13.02 9.85 5.17 5.72 4.74 4.05 4.19 6.22 11.24
ROCE(%) 9.08 10.21 10.14 10.54 7.69 9.22 8.1 6.97 6.88 8.81 13.04
Receivable days 19.3 24.03 27.77 30.34 41.11 56.02 86.37 159.79 100.8 96.26 89.97
Inventory Days 40.91 45.66 51.98 61.65 57.03 41.15 30.85 54.16 55.75 68.96 92.93
Payable days 6.5 7.17 7.47 10 6.31 3.36 10.07 19.05 7.05 6.81 3.18
PER(x) 0 0 0 0 26.73 20.3 20.24 44.6 47.63 27.02 15.12
Price/Book(x) 0 0 0 0 0.98 1.14 0.94 1.78 1.96 1.63 1.11
Dividend Yield(%) 0 0 0 0 0.57 0 0 0 0 0 0
EV/Net Sales(x) 0.35 0.31 0.35 0.34 0.44 0.39 0.38 1.03 0.81 0.73 0.86
EV/Core EBITDA(x) 8.99 7.99 8.23 7.61 11 9.6 9.64 17.55 19.62 14.19 9.05
Net Sales Growth(%) 951.19 39.38 12.21 7.61 28.19 29.65 -5.4 -39.97 43.04 0.59 30.52
EBIT Growth(%) 564.94 56.08 24.02 16.97 1.4 51.67 -10.58 -9.34 3.86 31.98 159.19
PAT Growth(%) 653.46 40.43 28.2 30.54 24.5 59.14 -13.36 -11.04 7.34 56.3 301.01
EPS Growth(%) 653.46 -3.95 28.2 -10.31 -14.2 59.15 -13.36 -11.03 7.33 56.28 90.05
Debt/Equity(x) 4.71 3.59 4.13 1.32 0.67 0.6 0.59 0.64 0.63 0.57 0.17
Current Ratio(x) 1.33 1.53 1.38 1.37 2.01 2.02 1.96 1.94 2.14 2.21 6.21
Quick Ratio(x) 0.51 0.64 0.53 0.46 1.09 1.38 1.58 1.38 1.31 1.3 3.73
Interest Cover(x) 1.4 1.34 1.54 1.65 1.95 2.03 2.18 2.07 2.03 2.41 7.15
Total Debt/Mcap(x) 0 0 0 0 0.69 0.53 0.63 0.36 0.32 0.35 0.15

Narmada Agrobase Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 66.47 63.94 63.57 57.66 57.66 49.11 49.11 50.3 50.3 50.3
FII 0 0 0 0 0 0 0 0 0 0.03
DII 0 0 0 0 0 7.91 8.96 8.96 8.96 8.96
Public 33.53 36.06 36.43 42.34 42.34 42.98 41.93 40.74 40.74 40.71
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Narmada Agrobase News

Narmada Agrobase Pros & Cons

Pros

  • Company has delivered good profit growth of 31% CAGR over last 5 years
  • Debtor days have improved from 6.81 to 3.18days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 7% over the last 3 years.
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