Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 41.59 | 47.08 | 49.47 | 43.22 | 47.91 | 48.02 | 49.77 | 45.77 | 51.21 | 56.73 | 61.70 | 56.37 |
| Expenses | 37.71 | 42.38 | 42.85 | 37.93 | 42.68 | 41.44 | 42.29 | 38.25 | 41.86 | 46.06 | 47.94 | 44.65 |
| Operating Profit | 3.88 | 4.70 | 6.62 | 5.29 | 5.23 | 6.58 | 7.48 | 7.52 | 9.35 | 10.67 | 13.76 | 11.72 |
| OPM % | 9.33% | 9.98% | 13.38% | 12.24% | 10.92% | 13.70% | 15.03% | 16.43% | 18.26% | 18.81% | 22.30% | 20.79% |
| Other Income | 0.39 | 0.45 | 0.50 | 0.56 | 0.77 | 0.29 | 0.03 | 0.04 | 0.55 | 0.05 | 0.14 | 0.14 |
| Interest | 0.09 | 0.05 | 0.03 | 0.03 | 0.27 | 0.55 | 0.36 | 0.24 | 0.20 | 0.29 | 0.29 | 0.15 |
| Depreciation | 0.51 | 0.51 | 0.52 | 0.52 | 0.59 | 0.56 | 0.55 | 0.65 | 0.65 | 0.65 | 0.92 | 0.76 |
| Profit before tax | 3.67 | 4.59 | 6.57 | 5.30 | 5.14 | 5.76 | 6.60 | 6.67 | 9.05 | 9.78 | 12.69 | 10.95 |
| Tax % | 27.25% | 25.49% | 25.27% | 24.53% | 25.49% | 25.69% | 18.79% | 25.34% | 28.40% | 24.34% | 24.51% | 25.21% |
| Net Profit | 2.67 | 3.42 | 4.91 | 4.00 | 3.83 | 4.28 | 5.36 | 4.98 | 6.48 | 7.40 | 9.58 | 8.19 |
| EPS in Rs | 4.41 | 5.65 | 8.12 | 6.61 | 6.33 | 7.07 | 8.86 | 8.23 | 10.71 | 12.23 | 15.84 | 13.54 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 131 | 113 | 118 | 126 | 134 | 135 | 157 | 191 | 182 | 189 | 215 | 226 |
| Expenses | 120 | 109 | 112 | 116 | 120 | 127 | 143 | 171 | 161 | 164 | 174 | 181 |
| Operating Profit | 11 | 4 | 5 | 9 | 14 | 8 | 15 | 20 | 21 | 25 | 41 | 46 |
| OPM % | 8% | 3.3% | 4.6% | 7% | 11% | 6% | 9% | 10% | 12% | 13% | 19% | 20% |
| Other Income | 3 | 6 | 4 | 5 | 6 | 6 | 3 | 2 | 2 | 2 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 |
| Profit before tax | 13 | 8 | 8 | 13 | 18 | 11 | 15 | 20 | 21 | 23 | 38 | 42 |
| Tax % | 36% | 27% | 5% | 24% | 28% | 26% | 20% | 23% | 26% | 24% | 26% | |
| Net Profit | 8 | 6 | 8 | 10 | 13 | 8 | 12 | 15 | 15 | 17 | 28 | 32 |
| EPS in Rs | 13.70 | 10.10 | 13.29 | 16.63 | 21.29 | 13.98 | 20.40 | 25.26 | 25.34 | 28.45 | 47.01 | 52.32 |
| Dividend Payout % | 29% | 40% | 30% | 60% | 47% | 72% | 49% | 396% | 39% | 35% | 21% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 5% | 10% | 4% | 18% | ||
| Compounded Profit Growth | 14% | 39% | 26% | 72% | ||
| Stock Price CAGR | 13% | 18% | 0% | 24% | ||
| Return on Equity | 9% | 14% | 17% | 22% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 98 | 103 | 112 | 118 | 125 | 130 | 133 | 139 | 88 | 103 | 113 | 135 |
| Borrowings | 1 | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 13 | 8 |
| Other Liabilities | 15 | 17 | 21 | 16 | 22 | 24 | 26 | 25 | 23 | 25 | 27 | 26 |
| Total Liabilities | 120 | 128 | 140 | 140 | 155 | 161 | 165 | 170 | 117 | 134 | 159 | 175 |
| Fixed Assets | 23 | 23 | 22 | 25 | 24 | 26 | 29 | 27 | 28 | 27 | 33 | 41 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 2 | 0 | 0 | 0 | 0 | 7 | 6 |
| Investments | 27 | 34 | 45 | 53 | 68 | 65 | 50 | 48 | 4 | 10 | 41 | 41 |
| Other Assets | 70 | 72 | 73 | 62 | 61 | 69 | 85 | 94 | 85 | 97 | 78 | 87 |
| Total Assets | 120 | 128 | 140 | 140 | 155 | 161 | 165 | 170 | 117 | 134 | 159 | 175 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 6 | 7 | 7 | 9 | 12 | 5 | 3 | 2 | 14 | 15 | 17 | 25 |
| Cash from Investing Activity | -0 | -7 | -2 | -2 | -5 | -4 | 6 | 10 | 44 | -12 | -29 | -13 |
| Cash from Financing Activity | -3 | -2 | -5 | -3 | -1 | -9 | -7 | -6 | -67 | -0 | 5 | -12 |
| Net Cash Flow | 3 | -2 | 0 | 4 | 6 | -8 | 2 | 6 | -9 | 2 | -6 | -0 |
| Free Cash Flow | 6 | 6 | 7 | 4 | 11 | 1 | -0 | 2 | 12 | 13 | 2 | 15 |
| CFO/OP | 66% | 99% | 246% | 208% | 152% | 58% | 96% | 42% | 101% | 90% | 92% | 79% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 41 | 47 | 52 | 59 | 56 | 55 | 48 | 36 | 37 | 44 | 48 | 49 |
| Inventory Days | 194 | 169 | 192 | 144 | 144 | 166 | 166 | 185 | 152 | 161 | 155 | 156 |
| Days Payable | 21 | 23 | 52 | 40 | 62 | 63 | 62 | 57 | 42 | 50 | 57 | 39 |
| Cash Conversion Cycle | 214 | 193 | 193 | 163 | 138 | 158 | 152 | 164 | 147 | 155 | 146 | 166 |
| Working Capital Days | 117 | 120 | 146 | 127 | 95 | 108 | 115 | 119 | 97 | 103 | 88 | 97 |
| ROCE % | 21% | 12% | 4% | 5% | 7% | 11% | 5% | 10% | 16% | 20% | 20% | 28% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 77.65% | 77.65% | 77.65% | 77.65% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 22.35% | 22.34% | 22.34% | 22.34% | 24.99% | 24.99% | 25.00% | 25.00% | 24.99% | 24.99% | 25.00% | 24.99% |
| No. of Shareholders | 7,552 | 7,569 | 7,515 | 7,378 | 7,864 | 7,547 | 7,560 | 7,615 | 7,809 | 7,559 | 7,312 | 7,723 |
Fundamentals
Market Cap₹ 268 Cr.
Current Price₹ 443
Stock P/E8.46
Book Value₹ 234
ROCE27.9 %
ROE21.8 %
Dividend Yield2.49 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)18%
Compounded Profit Growth (TTM)72%
Standalone figures.
Valuation
Market capRs 265 Cr
Enterprise valueRs 269 Cr
P/E (TTM)8.38x
Price to book1.88x
Price to sales1.17x
EV / EBITDA5.80x
EV / EBIT6.20x
EV / sales1.19x
Price to cash flow10.80x
Earnings yield11.93%
Dividend yield2.28%
P/E, 3-year average10.54x
P/B, 3-year average1.64x
P/E, 5-year average10.67x
P/B, 5-year average1.53x
Profitability
Operating margin (excl. other income)19.17%
Operating margin (incl. other income)19.53%
EBITDA margin20.52%
Pre-tax margin18.79%
Net profit margin14.00%
Net margin, latest quarter14.53%
ROE21.81%
ROCE27.87%
ROA17.02%
ROE, 3-year average17.33%
ROCE, 3-year average22.78%
ROA, 3-year average13.67%
ROE, 5-year average14.69%
ROCE, 5-year average19.22%
ROA, 5-year average11.81%
ROIC (approx.)22.27%
Tax rate25.53%
Other income / net worth0.55%
Growth
Sales growth (latest year)14.02%
Profit growth (latest year)65.25%
Sales CAGR, 3 years4.07%
Sales CAGR, 5 years9.82%
Profit CAGR, 3 years23.01%
Profit CAGR, 5 years27.44%
Sales growth QoQ-8.64%
Profit growth QoQ-14.51%
Sales growth YoY (latest quarter)23.16%
Profit growth YoY (latest quarter)64.46%
Per share
EPS (TTM)Rs 52.31
EPS (latest year)Rs 47.01
EPS (latest quarter)Rs 13.54
EPS, 3-year averageRs 33.60
EPS, 5-year averageRs 29.29
Book value per shareRs 233.56
Sales per shareRs 373.55
Cash flow per shareRs 40.59
Free cash flow per shareRs 24.79
Dividend per share (latest year)Rs 10.00
Dividend per share, 3-year averageRs 10.00
Dividend per share, 5-year averageRs 28.00
Dividends
Dividend payout21.27%
Dividend payout, 3-year average31.96%
Dividend payout, 5-year average108.17%
Efficiency
Asset turnover1.23x
Fixed asset turnover5.24x
Inventory turnover3.01x
Inventory days121 days
Debtor days49 days
Debtors turnover7.42x
Creditor days39 days
Cash conversion cycle166 days
Working capital days97 days
Leverage
Total debtRs 8 Cr
Cash and bankRs 4 Cr
Net debtRs 4 Cr
Debt to equity0.06x
Net debt / EBITDA0.08x
Interest coverage46.67x
Owners' fund to total sources80.77%
Debt to assets4.51%
Cash flow
Cash from Operating Activity (latest year)Rs 25 Cr
Cash from Investing Activity (latest year)Rs -13 Cr
Cash from Financing Activity (latest year)Rs -12 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 15 Cr
FCFE (approx.: FCF + change in debt)Rs 10 Cr
Cash from ops / profit, 5 years0.84x
Sales to cash flow8.77x
Statement figures
Net sales (TTM)Rs 226 Cr
Net sales (latest year)Rs 215 Cr
Sales (latest quarter)Rs 56 Cr
Operating profit excl. other income (latest year)Rs 41 Cr
Operating profit (latest quarter)Rs 12 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 46 Cr
PBDT (TTM)Rs 45 Cr
Profit before tax (TTM)Rs 42 Cr
Tax (latest year)Rs 10 Cr
Net profit (TTM)Rs 32 Cr
Net profit (latest year)Rs 28 Cr
Net profit (latest quarter)Rs 8 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 147 Cr
Total expenditure (latest year)Rs 174 Cr
Total income (latest year)Rs 216 Cr
Share capitalRs 6 Cr
ReservesRs 135 Cr
Shareholders' fundsRs 141 Cr
Total assetsRs 175 Cr
Net blockRs 41 Cr
Capital work in progressRs 6 Cr
InvestmentsRs 41 Cr
ReceivablesRs 29 Cr
InventoryRs 49 Cr
Other liabilitiesRs 26 Cr
Shares outstanding (crore)0.60
Ownership
Promoter holding75.00% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 8.4 is at the 12th percentile of its own 9.4-year range
(median 11.6, low 6.9, high 17.6).
P/B 1.88 is at the 76th percentile (median 0.88).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 526739 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -6.4% | -2.8% | -3.6 pts |
| 1 month | -7.5% | -6.8% | -0.7 pts |
| 3 months | -14.0% | -7.6% | -6.4 pts |
| 3 years | -1.4% | +14.2% | -15.6 pts |
| 5 years | +131.3% | +27.9% | +103.4 pts |
Red flags
F-score 7 of 8No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹56 Cr +23.2% vs Jun 2025.
Net profit ₹8 Cr +64.5%.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Narmada Gelatines Ltd?
Narmada Gelatines Ltd (526739) has a market capitalisation of Rs 268 Cr. at the 2026-10-01 close.
What is the P/E ratio of Narmada Gelatines Ltd?
Narmada Gelatines Ltd trades at a P/E of 8.46 on trailing twelve-month profit, at the 2026-10-01 close.
What were Narmada Gelatines Ltd's latest quarterly results?
In the Jun 2026 quarter, Narmada Gelatines Ltd sales was Rs 56 Cr (+23.2% vs Jun 2025) and net profit was Rs 8 Cr.