Narmada Gelatines

₹374.6 4.6 | 1.2%

WEBSITE BSE:526739 NSE : NARMADA GEL 18 May, 12:50

Market Cap ₹227 Cr.

Stock P/E 14.1

P/B 2.2

Current Price ₹374.6

Book Value ₹ 172.5

Face Value 10

52W High ₹518

Dividend Yield 26.7%

52W Low ₹ 287.5

Edit Ratio

Narmada Gelatines Research see more...

Overview Inc. Year: 1961Industry: Chemicals

Narmada Gelatines Ltd is a prominent player in the chemicals industry, specializing in gelatine and its derivatives. With a strong foothold in the market, the company offers a diverse range of high-quality gelatine products used in various industries, including pharmaceuticals, food and beverages, cosmetics, and photography. Narmada Gelatines Ltd prides itself on its state-of-the-art manufacturing facilities, which adhere to stringent quality control measures to ensure superior products that meet international standards. The company's expertise lies in the production of gelatine, a versatile ingredient derived from animal collagen, known for its gelling, binding, and stabilizing properties. Narmada Gelatines Ltd caters to the unique requirements of its customers by providing customized solutions and innovative applications of gelatine in their respective industries. With a commitment to sustainability, Narmada Gelatines Ltd places emphasis on environmentally friendly practices and responsible sourcing of raw materials. The company's dedication to quality, reliability, and customer satisfaction has earned it a reputable standing within the chemicals industry.

Narmada Gelatines Share Price

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Peer Comparison

Narmada Gelatines Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Jun 2023	Sep 2023	Dec 2023
Net Sales	37	35	44	41	43	46	52	44	42	47
Other Income	1	1	1	1	0	1	1	0	0	0
Total Income	38	36	44	42	43	48	52	44	42	48
Total Expenditure	35	34	38	36	40	43	45	38	38	42
Operating Profit	4	2	6	6	3	4	8	6	4	5
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	1	0	0	0	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	3	2	6	5	3	4	7	6	4	5
Provision for Tax	-0	0	1	1	1	1	2	1	1	1
Profit After Tax	3	1	4	4	2	3	6	4	3	3
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	3	1	4	4	2	3	6	4	3	3
Adjusted Earnings Per Share	5.3	2	7.3	5.8	3.6	4.7	9.3	7.2	4.4	5.7

Narmada Gelatines Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	122	130	134	131	113	118	126	134	135	157	191	185
Other Income	2	3	3	3	6	4	5	6	6	3	2	1
Total Income	124	133	137	134	119	122	131	140	140	161	193	186
Total Expenditure	100	106	113	120	109	112	117	120	127	143	171	163
Operating Profit	24	27	24	14	10	10	15	20	13	18	22	23
Interest	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2	2	1	1	1	1	1	1	1	2	2	3
Exceptional Income / Expenses	0	0	1	0	0	0	0	0	0	0	0	0
Profit Before Tax	22	25	23	13	8	8	13	18	11	15	20	22
Provision for Tax	6	9	8	5	2	0	3	5	3	3	5	5
Profit After Tax	15	16	16	8	6	8	10	13	8	12	15	16
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	15	16	16	8	6	8	10	13	8	12	15	16
Adjusted Earnings Per Share	25.5	26.9	25.6	13.7	10.1	13.3	16.6	21.3	14	20.4	25.3	26.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	22%	13%	10%	5%
Operating Profit CAGR	22%	3%	17%	-1%
PAT CAGR	25%	5%	13%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	20%	28%	25%	12%
ROE Average	13%	9%	9%	11%
ROCE Average	17%	12%	12%	15%

Narmada Gelatines Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	78	92	104	109	119	124	131	136	139	145	94
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	4	5	5	5	6	6	6	7	7	6	5
Total Current Liabilities	39	47	3562	46	15	11	17	18	19	18	17
Total Liabilities	120	143	3671	160	140	140	155	161	165	170	115
Fixed Assets	25	24	23	23	22	25	24	26	29	27	28
Other Non-Current Assets	2	3	9	28	36	49	54	67	62	51	7
Total Current Assets	94	116	3639	110	82	65	76	68	74	92	81
Total Assets	120	143	3671	160	140	140	155	161	165	170	115

Narmada Gelatines Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	12	13	12	5	3	4	8	14	5	8	14
Cash Flow from Operating Activities	15	10	6	7	7	9	12	5	3	2	14
Cash Flow from Investing Activities	-10	-10	-0	-7	-2	-2	-5	-4	6	10	44
Cash Flow from Financing Activities	-4	-1	-3	-2	-5	-3	-1	-9	-7	-6	-67
Net Cash Inflow / Outflow	1	-1	3	-2	0	4	6	-8	2	6	-9
Closing Cash & Cash Equivalent	13	12	15	3	4	8	14	5	8	14	5

Narmada Gelatines Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	25.45	26.88	25.63	13.7	10.09	13.29	16.63	21.29	13.98	20.4	25.26
CEPS(Rs)	28.48	30.02	27.73	15.64	11.99	15.19	18.81	23.56	16.44	23.84	28.43
DPS(Rs)	5	5	3.5	4	4	4	10	10	10	10	100
Book NAV/Share(Rs)	127.1	150.08	171.16	180.1	195.91	204.63	216.18	225.47	229.43	240.04	155.2
Core EBITDA Margin(%)	16.56	17.25	14.42	7.87	3.04	4.41	7.3	10.53	5.6	9.15	10.33
EBIT Margin(%)	16.63	17.74	16.25	9.27	6.9	7.12	10.59	13.65	8.58	9.86	10.53
Pre Tax Margin(%)	16.56	17.7	16.16	9.24	6.85	7.09	10.53	13.29	8.46	9.8	10.37
PAT Margin (%)	11.75	11.58	10.7	5.9	5.03	6.71	8	9.59	6.27	7.84	8
Cash Profit Margin (%)	13.15	12.93	11.58	6.73	5.97	7.67	9.05	10.62	7.37	9.17	9
ROA(%)	13.68	12.35	0.81	0.43	4.07	5.74	6.83	8.17	5.19	7.37	10.71
ROE(%)	21.88	19.4	15.96	7.8	5.37	6.63	7.91	9.64	6.15	8.69	12.78
ROCE(%)	30.43	29.42	23.89	12.11	7.32	7.05	10.38	13.59	8.4	10.92	16.83
Receivable days	37.46	35.33	36.9	41.16	49.33	53.55	55.54	53.43	51.44	38.79	32.34
Inventory Days	70.53	71.94	84.72	94.8	111.6	103.18	84.6	85.93	101.68	104.92	92.24
Payable days	36.99	31.58	25.17	20.67	38.24	45.31	51.11	60.59	57.44	56.72	45.01
PER(x)	3.55	3.68	6.12	9.75	13.07	11.08	7.64	5.48	11.04	10.15	11.56
Price/Book(x)	0.71	0.66	0.92	0.74	0.67	0.72	0.59	0.52	0.67	0.86	1.88
Dividend Yield(%)	3.69	3.37	2.23	3	3.03	2.72	7.86	8.58	6.48	4.83	34.23
EV/Net Sales(x)	0.35	0.38	0.61	0.53	0.59	0.67	0.55	0.46	0.6	0.67	0.88
EV/Core EBITDA(x)	1.78	1.85	3.38	4.91	6.95	8.12	4.72	3.15	6.21	5.98	7.6
Net Sales Growth(%)	14.14	7.11	2.94	-2.09	-14.24	4.31	6.86	6.82	0.45	16.69	21.46
EBIT Growth(%)	35.31	14.39	-5.55	-44.67	-35.63	1.8	56.04	37.54	-36.84	34.03	29.73
PAT Growth(%)	39.17	5.62	-4.67	-46.55	-26.32	31.63	25.21	27.99	-34.33	45.89	23.86
EPS Growth(%)	39.17	5.62	-4.67	-46.55	-26.32	31.63	25.21	27.99	-34.33	45.89	23.86
Debt/Equity(x)	0	0.02	0.01	0.01	0	0	0.02	0	0	0	0
Current Ratio(x)	2.42	2.48	1.02	2.4	5.53	6.11	4.41	3.86	3.9	4.98	4.78
Quick Ratio(x)	1.77	1.83	1.01	1.61	2.96	3.35	2.75	1.91	1.75	2.28	2.01
Interest Cover(x)	228.15	369.78	172.33	307.94	135.24	231.33	163.64	37.99	69.17	183.99	65.95
Total Debt/Mcap(x)	0.01	0.03	0.01	0.02	0	0	0.03	0.01	0	0	0

Narmada Gelatines Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	75	75	75	75	75	75	75	77.65	77.65	77.65
FII	0	0	0	0	0	0	0	0	0	0
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Public	24.99	24.99	24.99	24.99	24.99	24.99	24.99	22.35	22.34	22.34
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.47	0.47	0.47
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.14	0.14	0.14
Others	0	0	0	0	0	0	0	0	0	0
Total	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6

Pros

Stock is providing a good dividend yield of 26.7 %.
Debtor days have improved from 56.72 to 45.01days.
Company is almost debt free.

Cons

Company has a low return on equity of 9% over the last 3 years.

* 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.