Narmada Gelatines profit rises 33% to Rs 8.60 crore

Narmada Gelatines Limited reported standalone profit after tax of Rs 8.60 crore for the quarter ended 30 September 2026, a 33% increase from Rs 6.46 crore a year earlier, as revenue from operations rose 14% to Rs 58.61 crore. The board approved the unaudited results on 12 November 2026 after the audit committee’s recommendation.

How did Narmada Gelatines perform in the September quarter?

Narmada Gelatines increased standalone profit after tax to Rs 8.60 crore in the quarter ended 30 September 2026 from Rs 6.46 crore in the corresponding 2025 quarter. Revenue from operations increased by Rs 7.40 crore to Rs 58.61 crore from Rs 51.21 crore, while basic and diluted earnings per share rose to Rs 14.21 from Rs 10.71.

The company reported profit before tax of Rs 11.59 crore for the September 2026 quarter and tax expense of Rs 2.99 crore. In the corresponding quarter a year earlier, profit after tax was Rs 6.46 crore and earnings per share were Rs 10.71. The September-quarter result followed profit after tax of Rs 8.19 crore in the quarter ended 30 June 2026.

What changed in Narmada Gelatines’ quarterly costs?

Narmada Gelatines reported total expenses of Rs 47.91 crore in the September 2026 quarter, compared with Rs 42.71 crore in the year-earlier period. Cost of materials consumed rose to Rs 28.95 crore from Rs 27.26 crore, while power and fuel expense increased to Rs 7.09 crore from Rs 6.25 crore.

Finance costs declined to Rs 14 lakh in the September 2026 quarter from Rs 20 lakh a year earlier, while depreciation and amortisation expense increased to Rs 80 lakh from Rs 65 lakh. Changes in inventories of finished goods, work in progress and stock in trade were an expense of Rs 1.10 crore, compared with an expense reduction of Rs 11 lakh in the corresponding 2025 quarter.

The increase in revenue from operations of Rs 7.40 crore exceeded the Rs 5.20 crore rise in total expenses between the two September quarters. Narmada Gelatines’ reported profit before tax consequently increased by Rs 2.56 crore to Rs 11.59 crore, while tax expense increased by Rs 42 lakh to Rs 2.99 crore.

How did Narmada Gelatines perform in the first half?

Narmada Gelatines reported standalone profit after tax of Rs 16.79 crore for the half year ended 30 September 2026, up 47% from Rs 11.46 crore in the corresponding prior-year half. Revenue from operations rose 20% to Rs 114.96 crore from Rs 96.06 crore, and basic and diluted earnings per share increased to Rs 27.75 from Rs 18.94.

Profit before tax for the half year was Rs 22.54 crore, compared with Rs 15.72 crore a year earlier, while tax expense rose to Rs 5.75 crore from Rs 4.26 crore. Total expenses were Rs 93.47 crore for the half year ended 30 September 2026, compared with Rs 81.85 crore in the corresponding period of 2025.

The September quarter accounted for Rs 8.60 crore of the half-year profit, while the June 2026 quarter accounted for Rs 8.19 crore. Revenue from operations rose sequentially to Rs 58.61 crore in the September quarter from Rs 56.37 crore in the June quarter, and profit before tax increased to Rs 11.59 crore from Rs 10.95 crore.

What do Narmada Gelatines’ balance sheet and cash flows show?

Narmada Gelatines reported standalone total assets of Rs 180.92 crore at 30 September 2026, compared with Rs 174.97 crore at 31 March 2026. Non-current assets increased to Rs 96.47 crore from Rs 89.99 crore, while current assets decreased to Rs 84.45 crore from Rs 85.00 crore.

Property, plant and equipment stood at Rs 6.96 crore at 30 September 2026, compared with Rs 5.29 crore at 31 March 2026. Inventories declined to Rs 43.14 crore from Rs 48.79 crore, trade receivables fell to Rs 27.75 crore from Rs 29.03 crore, and cash and cash equivalents increased to Rs 4.18 crore from Rs 46 lakh.

The half-year cash-flow statement recorded Rs 7.30 crore of purchases of property, plant and equipment, including capital work-in-progress and capital advances, compared with Rs 1.72 crore in the prior-year half. Net cash generated from operating activities was Rs 21.92 crore, down from Rs 24.56 crore, while net cash used in investing activities was Rs 16.51 crore against Rs 12.72 crore a year earlier.

What did the limited review say about Narmada Gelatines’ results?

Narmada Gelatines’ standalone statutory auditor, Lodha & Co LLP, said nothing had come to its attention that caused it to believe the September 2026 results did not make the disclosures required under Regulation 33 of the Securities and Exchange Board of India listing regulations or contained a material misstatement. The review report is dated 12 November 2026 and covers the quarter and half year ended 30 September 2026.

Lodha & Co LLP conducted the work under Standard on Review Engagements 2410, which the report says is narrower in scope than an audit and does not provide audit assurance. The board meeting to approve the unaudited standalone and consolidated results began at 11.15 am and concluded at 12.15 pm on 12 November 2026.

The consolidated results include the proportionate share of profit of India Gelatine Chemicals Limited, an associate of Narmada Gelatines. The auditor’s consolidated review report states that the company’s share of the associate’s profit was Rs 1.02 crore for the September 2026 quarter and Rs 2.17 crore for the half year.

Conclusion

Narmada Gelatines reported higher revenue and profit across both reported periods, with standalone revenue from operations reaching Rs 58.61 crore in the September quarter and Rs 114.96 crore in the half year. The half-year profit after tax of Rs 16.79 crore reflected gains in both the June and September quarters, while inventories and trade receivables were lower than at 31 March 2026.

What to watch in subsequent disclosures is whether Narmada Gelatines provides further detail on the Rs 7.30 crore spent on property, plant and equipment, capital work-in-progress and capital advances in the half year. The filing records spending that was Rs 5.58 crore higher than in the prior-year half, but does not state a capital-expenditure plan, target or completion schedule.