NARMADA

Narmada Agrobase Limited

Cattle feed and agro-based by-products manufacturer with brands like Churma and Narmada Super

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

narmadaagrobase.com

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Key metrics

Price as of 2026-10-16

Stock price

₹11.36

Market cap

86 Cr

Stock P/E

24.0

P/B

1.45

ROE (FY26)

6.5%

ROCE (FY26)

8.7%

Operating margin (FY26)

6.1%

Debt / equity (FY26)

0.17

OCF / EBITDA (FY26)

-26.1%

OCF / EBITDA (3Y)

-122.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Narmada Agrobase Limited (CIN L15494GJ2013PLC073468; NSE: NARMADA; BSE Scrip Code: 543643), incorporated in 2013 and headquartered in Mehsana, Gujarat, manufactures and supplies cattle feed and agro-based by-products, with a stated focus on livestock nutrition.

Company snapshot

4thBy market cap

Ranked among 5 companies in Animal Feed.

What we see

Positives

✓Debt-to-equity of 0.17x — the company is largely funded by its own money, not borrowed funds.

Concerns

✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	11 Cr	12 Cr	19 Cr	12 Cr	10 Cr	14 Cr	29 Cr	11 Cr	12 Cr	21 Cr	34 Cr	22 Cr
Operating expenses (approx.)	11 Cr	12 Cr	18 Cr	11 Cr	8 Cr	12 Cr	29 Cr	10 Cr	11 Cr	20 Cr	33 Cr	21 Cr
EBITDA	0.47 Cr	0.45 Cr	1 Cr	2 Cr	2 Cr	1 Cr	0.59 Cr	1 Cr	1 Cr	1 Cr	0.97 Cr	0.95 Cr
OPM %	4.1%	3.7%	6.1%	12.9%	20.1%	9.7%	2.0%	11.9%	10.8%	6.5%	2.9%	4.2%
Other income	0.03 Cr	0.02 Cr	0.0029 Cr	0.01 Cr	0.01 Cr	0.32 Cr	0.32 Cr	0.33 Cr	0.33 Cr	0.29 Cr	0.32 Cr	0.28 Cr
Interest	0.23 Cr	0.23 Cr	0.26 Cr	0.24 Cr	0.24 Cr	0.21 Cr	0.16 Cr	0.24 Cr	0.20 Cr	0.20 Cr	0.18 Cr	0.17 Cr
Depreciation	0.07 Cr	0.07 Cr	0.07 Cr	0.06 Cr	0.06 Cr	0.06 Cr	0.06 Cr	0.05 Cr	0.05 Cr	0.06 Cr	0.06 Cr	0.05 Cr
Profit before tax	0.20 Cr	0.17 Cr	0.82 Cr	1 Cr	2 Cr	1 Cr	0.69 Cr	1 Cr	1 Cr	1 Cr	1 Cr	1 Cr
Tax %	15.2%	23.3%	26.0%	21.5%	27.3%	28.2%	-12.8%	25.2%	25.2%	28.4%	24.5%	25.2%
Net profit	0.17 Cr	0.13 Cr	0.61 Cr	1 Cr	1 Cr	1 Cr	0.78 Cr	1 Cr	1 Cr	1 Cr	0.80 Cr	0.75 Cr
EPS (₹)	₹0.13	₹0.09	₹0.45	₹0.75	₹0.96	₹0.38	₹0.30	₹0.27	₹0.27	₹0.27	₹0.21	₹0.20

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2017	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	34 Cr	50 Cr	50 Cr	66 Cr	78 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	33 Cr	48 Cr	48 Cr	60 Cr	73 Cr	Sign in free for the trailing twelve months
EBITDA	1 Cr	2 Cr	3 Cr	6 Cr	5 Cr	Sign in free for the trailing twelve months
OPM %	4.2%	4.0%	5.0%	8.5%	6.3%	Sign in free for the trailing twelve months
Other income	0.02 Cr	0.05 Cr	0.07 Cr	0.66 Cr	1 Cr	Sign in free for the trailing twelve months
Interest	0.75 Cr	0.86 Cr	0.96 Cr	0.84 Cr	0.82 Cr	Sign in free for the trailing twelve months
Depreciation	0.30 Cr	0.32 Cr	0.28 Cr	0.24 Cr	0.22 Cr	Sign in free for the trailing twelve months
Profit before tax	0.40 Cr	0.89 Cr	1 Cr	5 Cr	5 Cr	Sign in free for the trailing twelve months
Tax %	24.2%	26.7%	24.7%	20.7%	25.9%	Sign in free for the trailing twelve months
Net profit	0.30 Cr	0.65 Cr	1 Cr	4 Cr	4 Cr	Sign in free for the trailing twelve months
EPS (₹)	—	₹0.48	₹0.75	₹1.56	₹1.02	Sign in free for the trailing twelve months
Dividend payout %	—	0.0%	0.0%	0.0%	0.0%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2017	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	2 Cr	14 Cr	14 Cr	38 Cr	38 Cr
Reserves	0.61 Cr	2 Cr	3 Cr	18 Cr	21 Cr
Borrowings	9 Cr	10 Cr	10 Cr	9 Cr	10 Cr
Other liabilities	2 Cr	1 Cr	1 Cr	1 Cr	3 Cr
Total liabilities	14 Cr	27 Cr	28 Cr	66 Cr	72 Cr
Fixed assets (net)	3 Cr	3 Cr	3 Cr	3 Cr	3 Cr
CWIP	—	0 Cr	0 Cr	0.02 Cr	0 Cr
Investments	0.43 Cr	0.0003 Cr	0.0003 Cr	0 Cr	2 Cr
Loans & advances	—	0 Cr	0 Cr	0 Cr	0.04 Cr
Inventories	6 Cr	9 Cr	10 Cr	23 Cr	14 Cr
Trade receivables	3 Cr	13 Cr	13 Cr	19 Cr	35 Cr
Cash & bank	0.07 Cr	0.55 Cr	0.77 Cr	0.39 Cr	0.18 Cr
Other assets	2 Cr	1 Cr	0.70 Cr	21 Cr	18 Cr
Total assets	14 Cr	27 Cr	28 Cr	66 Cr	72 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2017	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	-0.97 Cr	0.05 Cr	1 Cr	-16 Cr	-1 Cr
Cash from investing	-0.65 Cr	0.37 Cr	0.35 Cr	-4 Cr	-3 Cr
Cash from financing	1 Cr	-0.52 Cr	-1 Cr	34 Cr	-0.18 Cr
Net cash flow	-0.17 Cr	-0.10 Cr	0.22 Cr	14 Cr	-4 Cr
Free cash flow (OCF − Capex)	-1 Cr	0.05 Cr	1 Cr	-16 Cr	-1 Cr

Ratios

No data for this view.