Overview

Detailed Summary

Narmada Agrobase Limited manufactures and processes cottonseed meal cake, soya bean meal and formulated cattle feeds that supply protein-rich inputs to dairy and beef farmers, and sells byproducts into textiles, consumer goods and paper industries under a reputed flagship brand across domestic and export markets.
Quarterly consolidated revenue for June 30, 2026 rose to Rs.2,254.55 lakhs from Rs.1,141.34 lakhs a year earlier, with profit after tax of Rs.75.38 lakhs for the quarter, indicating strong sequential and year-on-year recovery driven by higher volumes and improved utilization compared with the prior comparable period.
The company completed a rights issue that raised Rs.3,658.15 lakhs in 2024; auditors confirm Rs.2,688.15 lakhs utilized in line with the prospectus and Rs.770.00 lakhs remains unutilized, earmarked for plant and machinery capex; Narmada Bio Feed Private Limited was incorporated in May 2026 as a wholly owned subsidiary to support expansion plans.
Raw material and input costs constitute the majority of expenses (raw material consumption of Rs.2,024.48 lakhs in the quarter), producing relatively thin operating margins; this cost structure makes margins sensitive to commodity price swings and working-capital cycles, while scale-up through the planned capex could provide margin improvement through operational leverage.
Management emphasizes no deviation in use of rights issue proceeds and has kept unspent capex funds in fixed deposits, signalling readiness to deploy funds for capacity expansion; successful and timely commissioning of the new plant will be a near-term operational catalyst and determinant of forward revenue and margin trajectory.

Sector: Food Products
Industry: Animal Feed
Market Cap: 87 Cr
Volatility: Moderate Risk
P/E Ratio: 24.3
Industry P/E: 37.5
PEG Ratio: 0.3
P/B Ratio: 1.8
52W High: 22.59
52W Low: 9.70

Sales CAGR

1Y: 19.35%
3Y: 16.15%
5Y: 6.12%
10Y: 9.57%

Profit CAGR

1Y: -5.62%
3Y: 80.84%
5Y: 41.37%
10Y: 32.58%

ROE

TTM

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Peers

Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Animal Feed

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GODREJAGRO		613.90	11,812 Cr	27.82	5.81	1.79	23.27	20.73	6.88
AVANTIFEED		669.10	9,116 Cr	15.53	2.77	1.49	18.44	26.73	13.79
MUKKA		24.85	746 Cr	10.06	1.49	0.00	10.43	10.07	4.57
KSE		170.15	544 Cr	11.73	1.56	7.35	24.05	31.16	11.19
SHIVAM		145.35	247 Cr	39.89	5.93	0.00	14.87	15.54	8.67
MCFL		110.15	119 Cr	21.59	3.70	0.00	15.91	17.38	8.02
NARMADA		11.36	86 Cr	24.01	1.77	0.00	—	—	0.00
Median: 7 Co.	—	145.35	544 Cr	21.59	2.77	0.00	17.18	19.05	8.02

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total

	Jun 2025	Mar 2026	Jun 2026
Sales	11	34	22
Expenses	9.77	33	21
Operating Profit	1.31	0.97	0.94
OPM %	11.82	2.85	4.22
Other Income	0.33	0.32	0.28
Interest	0.24	0.18	0.17
Depreciation	0.05	0.06	0.05
Profit Before Tax	1.36	1.06	1.01
Tax %	25.00	24.53	24.75
Net Profit	1.02	0.80	0.75
EPS in Rs	0.14	0.11	0.10

Standalone Profit Loss (in ₹ Crores)

Total

YoY

Total

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	34	37	48	62	58	35	50	50	66	78	90
Expenses	33	35	46	59	56	33	48	48	60	73	85
Operating Profit	1.44	1.56	1.63	2.45	2.21	1.99	2.02	2.52	5.58	4.98	4.58
OPM %	4.18	4.22	3.44	3.98	3.79	5.70	4.03	5.00	8.49	6.35	5.11
Other Income	0.02	0.07	0.28	0.03	0.08	0.06	0.05	0.07	0.66	1.27	1.22
Interest	0.75	0.82	0.70	1.03	0.85	0.82	0.86	0.96	0.84	0.82	0.75
Depreciation	0.30	0.28	0.54	0.40	0.42	0.37	0.32	0.28	0.24	0.22	0.22
Profit Before Tax	0.40	0.54	0.67	1.05	1.01	0.87	0.89	1.35	5.16	5.21	4.86
Tax %	24.70	25.65	26.00	25.19	32.24	30.30	26.73	24.66	20.72	25.91	25.93
Net Profit	0.30	0.40	0.50	0.79	0.68	0.61	0.65	1.02	4.09	3.86	3.59
EPS in Rs	—	—	—	—	—	—	0.09	0.13	0.65	0.51	0.48
Dividend Payout %	0.00	0.00	15.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total

YoY

Total

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1.83	5.19	7.53	14	14	14	14	14	38	38
Reserves	0.64	0.42	6.04	0.71	1.39	1.68	2.33	3.35	18	21
Borrowings	10	7.39	9.13	8.24	8.69	9.73	10	9.68	9.47	10
Other Liabilities	0.99	1.45	0.88	1.77	3.29	1.54	1.37	1.38	1.13	2.82
Total Liabilities	14	14	24	24	27	26	27	28	66	72
Fixed Assets	2.66	2.74	4.66	3.89	3.50	3.75	3.44	3.18	2.97	2.91
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.00
Investments	0.43	0.47	0.61	0.00	0.00	0.00	0.00	0.00	0.00	1.70
Other Assets	11	11	18	20	23	23	24	25	63	68
Total Assets	14	14	24	24	27	26	27	28	66	72

Standalone Cash Flows (in ₹ Crores)

Total

YoY

Total

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	-1.25	1.21	-5.10	0.49	0.30	-0.08	0.05	1.23	-16	-1.30
Cash from Investing Activity	-0.44	-0.34	-2.32	0.46	0.04	0.06	0.37	0.35	-3.58	-2.95
Cash from Financing Activity	1.52	-0.82	8.52	-1.94	-0.40	0.22	-0.52	-1.35	34	-0.18
Net Cash Flow	-0.17	0.05	1.11	-1.00	-0.07	0.20	-0.10	0.23	14	-4.43

Shareholding History

Quarterly

Yearly

Quarterly

	Sep 2024	Oct 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Jul 2026	Aug 2026	Sep 2026
Promoters	57.66%	48.98%	48.98%	49.11%	50.30%	50.30%	50.30%	50.30%	50.30%	50.30%	50.30%	50.30%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.54%	0.31%	0.11%	0.11%	0.11%
DIIs	0.00%	5.45%	7.91%	8.96%	8.96%	8.96%	8.96%	8.96%	7.07%	6.50%	6.50%	6.50%
Public	42.34%	45.57%	43.11%	41.93%	40.74%	40.74%	40.71%	40.20%	42.33%	43.10%	43.10%	43.10%
Total Shareholders	9,488	9,893	12,001	11,855	11,531	11,308	10,879	10,136	18,203	26,046	26,046	24,641

Market Transactions

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Projection

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

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Board Meeting

21 hours ago

Narmada Agrobase Board Meeting Scheduled

Narmada Agrobase will hold a board meeting on 2 November 2026 to approve unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026.

Frequently Asked Questions about Narmada Agrobase Ltd

Narmada Agrobase Ltd (NARMADA) is currently trading at 11.50 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Narmada Agrobase Limited manufactures and processes cottonseed meal cake, soya bean meal and formulated cattle feeds that supply protein-rich inputs to dairy and beef farmers, and sells byproducts into textiles, consumer goods and paper industries under a reputed flagship brand across domestic and export markets. Quarterly consolidated revenue for June 30, 2026 rose to Rs.2,254.55 lakhs from Rs.1,141.34 lakhs a year earlier, with profit after tax of Rs.75.38 lakhs for the quarter, indicating strong sequential and year-on-year recovery driven by higher volumes and improved utilization compared with the prior comparable period. The company completed a rights issue that raised Rs.3,658.15 lakhs in 2024; auditors confirm Rs.2,688.15 lakhs utilized in line with the prospectus and Rs.770.00 lakhs remains unutilized, earmarked for plant and machinery capex; Narmada Bio Feed Private Limited was incorporated in May 2026 as a wholly owned subsidiary to support expansion plans. Raw material and input costs constitute the majority of expenses (raw material consumption of Rs.2,024.48 lakhs in the quarter), producing relatively thin operating margins; this cost structure makes margins sensitive to commodity price swings and working-capital cycles, while scale-up through the planned capex could provide margin improvement through operational leverage. Management emphasizes no deviation in use of rights issue proceeds and has kept unspent capex funds in fixed deposits, signalling readiness to deploy funds for capacity expansion; successful and timely commissioning of the new plant will be a near-term operational catalyst and determinant of forward revenue and margin trajectory.

Over the past 52 weeks, Narmada Agrobase Ltd has traded between a low of ₹9.70 and a high of ₹22.59. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Narmada Agrobase Ltd has a market capitalization of approximately 86.19. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Narmada Agrobase Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 24.01 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 86.19 Cr, Narmada Agrobase Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Narmada Agrobase Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Narmada Agrobase Ltd is 24.01. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Narmada Agrobase Ltd

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