Narmada Agrobase Limited
NSE: NARMADA · Animal Feed · sector
₹11.18NSE close 2026-10-26
Key numbers
Market cap₹85 cr
Price₹11.18
52w high / low₹23 / ₹10
P/E23.5xSector median 17.2x
P/B1.4xSector median 1.8x
Book value₹7.8
Dividend yield–Sector median 1.80%
ROE6.2%Sector median 17.4%
ROCE8.1%Sector median 19.6%
OPM5.1%Sector median 5.1%
Debt / equity0.17xSector median 0.17x
EV/EBITDA18.3xSector median 11.8x
Interest cover7.5x
Current ratio5.09x
Sales growth 3y+16.1%Sector median +4.5%
Profit growth 3y+80.8%Sector median +29.6%
PEG0.83x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 7 companies in Animal Feed (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹10 cr vs borrowings ₹10 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 7.5x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 4 years (FY26, FY25, FY23).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 34% of net profit in the last 12 months.
- Debtor days went from 97 (FY24) to 165 (FY26).
- No dividend in the last 4 financial years.
- Price ₹11.18 on 2026-10-26: -50.5% from the 52-week high, +12.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹15.01 · low ₹11.13
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10 | 14 | 29 | 11 | 12 | 21 | 34 | 22 |
| EBITDA | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| OPM % | 20.1% | 9.7% | 2.0% | 11.9% | 10.9% | 6.5% | 2.9% | 4.3% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| EPS (₹) | 0.48 | 0.19 | 0.15 | 0.14 | 0.14 | 0.14 | 0.10 | 0.10 |
| Revenue YoY | +16.2% | +54.3% | +16.0% | +100.9% | ||||
| Profit YoY | -20.2% | +1.0% | +2.6% | -26.5% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|
| Revenue | 50 | 50 | 66 | 78 | 90 |
| EBITDA | 2 | 3 | 6 | 5 | 5 |
| Net profit | 1 | 1 | 4 | 4 | 4 |
| EPS (₹) | 0.24 | 0.38 | 0.78 | 0.51 | 0.48 |
| Revenue growth | +0.6% | +30.5% | +19.4% | +38.9% | |
| Profit growth | +56.9% | +301.0% | -5.6% | -12.2% | |
| Dividend / share (₹) | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +16.2% | – | +38.9% |
| Net profit | +80.8% | – | -12.2% |
| EPS | +28.6% | – | – |
| Share price | – | +16.1% (2y) | -19.9% |
Balance sheet
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Shareholders' equity | 16 | 17 | 56 | 59 |
| Borrowings | 10 | 10 | 9 | 10 |
| Cash & equivalents | 1 | 1 | 15 | 10 |
| Total assets | 27 | 28 | 66 | 72 |
| Fixed assets | 3 | 3 | 3 | 3 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Receivables | 13 | 13 | 19 | 35 |
| Inventory | 9 | 10 | 23 | 14 |
| Payables | 1 | 1 | 0 | 1 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Cash from operations | 0 | 1 | -16 | -1 |
| Cash from investing | 0 | 0 | -4 | -3 |
| Cash from financing | -1 | -1 | 34 | -0 |
| Capex | 0 | 0 | 0 | 0 |
| Free cash flow | 0 | 1 | -16 | -1 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ROE % | 4.1% | 6.0% | 7.3% | 6.5% |
| ROCE % | 6.8% | 8.7% | 9.2% | 8.7% |
| Debtor days | 96 | 97 | 106 | 165 |
| Inventory days | 76 | 85 | 154 | 75 |
| Payable days | 7 | 6 | 1 | 7 |
| Cash conversion cycle (days) | 165 | 176 | 259 | 233 |
| Working capital days | 90 | 98 | 274 | 226 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 50.30% |
| FIIs | 0.11% |
| DIIs | 6.50% |
| Public (non-institutions) | 43.10% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Jul 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 49.11% | 50.30% | 50.30% | 50.30% | 50.30% | 50.30% | 50.30% | 50.30% |
| Promoter group | % |
|---|---|
| Neerajkumar S Agarwal | 25.07% |
| Abhishek S Agarwal | 6.27% |
| Raxita Abhishek Agrawal | 5.87% |
| Suresh Chandra Gupta | 4.66% |
| Monika Neeraj Agarwal | 4.31% |
| Monika N Agrawal | 2.56% |
| Nitinkumar Sureshchandra Agrawal | 1.06% |
| Naman Agarwal | 0.20% |
| Anjana Devi | 0.17% |
| Shweta Agrawal | 0.13% |
| Nandkishore Agrawal | 0.00% |
| Ganga Devi Agrawal | 0.00% |
| Harikishan Agrawal | 0.00% |
| Asha Agrawal | 0.00% |
| Sonika Agrawal | 0.00% |
| Public holders above 1% | % |
|---|---|
| Chanakya Opportunities Fund I | 6.50% |
| Kaivan Kamlesh Shah | 1.21% |
24,641 shareholders. Pledged: 0.00% of promoter shares.
Peers in Animal Feed
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| GODREJAGRO | ₹11,795 cr | 26.4x | 5.8x | 20.1% | 19.6% | 7.7% | +3.0% | 1.80% |
| AVANTIFEED | ₹9,114 cr | 17.2x | 2.8x | 17.4% | 24.0% | 9.9% | +6.0% | 1.37% |
| MUKKA | ₹738 cr | 10.7x | 1.5x | 14.7% | 12.4% | 8.4% | – | – |
| KSE | ₹544 cr | 1.6x | 1.6x | 14.4% | 17.6% | 3.5% | +1.4% | 5.79% |
| SHIVAM | ₹247 cr | 39.9x | 10.0x | 28.7% | 39.4% | 3.2% | – | – |
| NARMADA | ₹85 cr | 23.5x | 1.4x | 6.2% | 8.1% | 5.1% | +16.1% | – |
| MCFL | ₹59 cr | 9.9x | 1.8x | 20.3% | 35.3% | 3.3% | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-31 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
| 2024-09-13 | Rights | Rights 9:5 @ Premium Rs 5/- |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Fast Moving Consumer Goods |
| Industry | Animal Feed |
| Sub-industry | Animal Feed |
| Symbol | NARMADA |
| BSE code | 543643 |
| ISIN | INE117Z01029 |
| Face value | ₹5.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.