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Narmada Agrobase Limited
(NARMADA)
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Rating:52Neutral
Price Target:
₹14.00
▼(-59.91% Downside)
Action:Reiterated
Date:08/07/26
The score is anchored by improving reported growth and a strengthening balance sheet, but is held back materially by weak cash conversion (negative operating/free cash flow) and bearish technicals (below key moving averages with negative MACD). Valuation also looks demanding at ~33x earnings given the cash-flow volatility.
Positive Factors
Strong Revenue Growth
Sustained revenue expansion across two fiscal years indicates improving scale and market traction in the agribusiness segment. Continued growth can support operating leverage and strengthen the company’s competitive position if the underlying demand remains durable.
Negative Factors
Weak Cash Conversion
Negative operating and free cash flow despite reported earnings indicates that profits are not consistently converting into liquidity. Persistent working-capital volatility could constrain reinvestment, increase funding needs, and reduce the quality and resilience of earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained revenue expansion across two fiscal years indicates improving scale and market traction in the agribusiness segment. Continued growth can support operating leverage and strengthen the company’s competitive position if the underlying demand remains durable.
Read all positive factors
Narmada Agrobase Limited (NARMADA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.03B
Dividend Yield0.51%
Average Volume (3M)2.09M
Price to Earnings (P/E)23.2
Beta (1Y)0.20
Revenue Growth38.88%
EPS Growth-53.14%
CountryIN
Employees12
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)0.57
Shares Outstanding75,872,795
10 Day Avg. Volume561,621
30 Day Avg. Volume2,088,686
Financial Highlights & Ratios
PEG Ratio-0.86
Price to Book (P/B)1.93
Price to Sales (P/S)1.46
P/FCF Ratio-115.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Narmada Agrobase Limited Business Overview & Revenue Model
Company Description
Narmada Agrobase Limited manufactures and sells cotton seeds and cattle feeds in India. The company offers cotton seed meal, bleached cotton linters, gwar korma, maize meal, multi grain meal, maize oil cakes, cotton seed oil cakes, cotton linters,...
How the Company Makes Money
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Narmada Agrobase Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 898.57M | 783.94M | 656.77M | 503.21M | 500.26M | 349.74M |
| Gross Profit | 92.23M | 83.11M | 86.16M | 54.03M | 66.45M | 54.12M |
| EBITDA | 55.41M | 49.76M | 62.38M | 25.61M | 20.69M | 19.93M |
| Net Income | 35.92M | 38.57M | 40.88M | 10.19M | 6.52M | 6.08M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 722.53M | 664.64M | 279.65M | 273.20M | 268.46M |
| Cash, Cash Equivalents and Short-Term Investments | 4.98M | 103.66M | 148.01M | 7.70M | 5.50M | 6.52M |
| Total Debt | 0.00 | 100.99M | 94.66M | 96.79M | 100.69M | 97.29M |
| Total Liabilities | -593.37M | 129.16M | 105.98M | 110.63M | 114.38M | 113.56M |
| Stockholders Equity | 593.37M | 593.37M | 558.66M | 169.01M | 158.82M | 152.30M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -9.91M | -161.57M | 12.21M | 502.84K | -851.73K |
| Operating Cash Flow | 0.00 | -8.43M | -161.02M | 12.35M | 528.00K | -826.57K |
| Investing Cash Flow | 0.00 | -42.26M | -42.42M | 3.50M | 3.67M | 579.17K |
| Financing Cash Flow | 0.00 | 6.34M | 346.64M | -13.51M | -5.21M | 2.23M |
Narmada Agrobase Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹4.61B | 11.05 | ― | ― | ― | ― | |
59 Neutral | ₹2.24B | 16.94 | ― | ― | -8.44% | -51.49% | |
56 Neutral | ₹522.46M | 13.19 | ― | 4.03% | 10.34% | -58.06% | |
56 Neutral | ₹4.37B | 8.14 | ― | 0.60% | 18.87% | 91.75% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹1.03B | 23.24 | ― | 0.51% | 38.88% | -53.14% | |
39 Underperform | ₹1.24B | -8.54 | ― | 2.95% | -100.00% | 57.96% |
* General Sector Average
IN:NARMADA
Narmada Agrobase Limited
14.39
3.34
30.17%
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Narmada Agrobase Limited Corporate Events
Narmada Agrobase Closes Trading Window Ahead of June-Quarter Results
Jun 26, 2026
Narmada Agrobase Limited has announced the closure of its trading window for designated persons and their immediate relatives from July 1, 2026, until 48 hours after the announcement of its unaudited financial results for the quarter ended June 30...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.