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Narmada Agrobase Limited
(NARMADA)
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Rating:52Neutral
Price Target:
₹12.50
▼(-64.20% 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
Revenue has expanded strongly for two consecutive fiscal years, indicating improving scale and demand within the company’s agribusiness operations. If this trajectory persists, higher sales can support operating leverage, broaden the business base, and provide a durable foundation for future earnings growth.
Negative Factors
Weak cash conversion
Persistently negative operating and free cash flow despite stronger reported earnings indicates that profits are not consistently converting into cash. This can constrain internally funded growth, increase reliance on financing, and make earnings less durable if working-capital volatility continues over coming periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Revenue has expanded strongly for two consecutive fiscal years, indicating improving scale and demand within the company’s agribusiness operations. If this trajectory persists, higher sales can support operating leverage, broaden the business base, and provide a durable foundation for future earnings growth.
Read all positive factors
Narmada Agrobase Limited (NARMADA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹933.99M
Dividend Yield0.51%
Average Volume (3M)533.36K
Price to Earnings (P/E)20.8
Beta (1Y)0.18
Revenue Growth38.88%
EPS Growth-53.14%
CountryIN
Employees12
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)0.58
Shares Outstanding75,872,795
10 Day Avg. Volume536,269
30 Day Avg. Volume533,360
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
Detailed, company-specific information on Narmada Agrobase Limited’s revenue model, key revenue streams, and partnerships is null. In the absence of verified disclosures describing its primary sources of revenue (e.g., specific agro-products sold,...
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 | 71.30M | 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 | 264.97M |
| 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 | 112.68M |
| 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 Technical Analysis
Negative
34.92
Price Trends
14.34
Negative
16.36
Negative
15.73
Negative
Market Momentum
-0.55
Positive
28.77
Positive
10.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NARMADA, the sentiment is Negative. The current price of 34.92 is above the 20-day moving average (MA) of 13.54, above the 50-day MA of 14.34, and above the 200-day MA of 15.73, indicating a bearish trend. The MACD of -0.55 indicates Positive momentum. The RSI at 28.77 is Positive, neither overbought nor oversold. The STOCH value of 10.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NARMADA.
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 | ₹3.42B | 8.14 | ― | ― | ― | ― | |
59 Neutral | ₹2.07B | 15.99 | ― | ― | -8.44% | -51.34% | |
56 Neutral | ₹4.29B | 7.84 | ― | 0.63% | 18.87% | 91.75% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹466.30M | 11.21 | ― | 4.35% | 10.34% | -58.09% | |
52 Neutral | ₹933.99M | 20.85 | ― | 0.51% | 38.88% | -53.14% | |
39 Underperform | ₹1.02B | -6.71 | ― | 2.95% | -100.00% | 57.96% |
* General Sector Average
IN:NARMADA
Narmada Agrobase Limited
12.30
-0.67
-5.17%
IN:AGROPHOS
Agro Phos India Ltd.
22.31
-22.18
-49.85%
IN:NAGAFERT
Nagarjuna Fertilizers & Chemicals Ltd.
1.63
-3.42
-67.72%
IN:NOVAAGRI
Nova Agritech Limited
22.41
-24.97
-52.70%
IN:RAMAPHO
Rama Phosphates Limited
119.15
-31.60
-20.96%
IN:IGCL
Indogulf Cropsciences Limited
54.07
-49.18
-47.63%
Narmada Agrobase Limited Corporate Events
Narmada Agrobase Files SEBI Compliance Certificate on Share Dematerialization
Oct 3, 2026
Narmada Agrobase Limited has submitted a compliance certificate to NSE and BSE under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter and half year ended September 30, 2026. Kfin Technologies, acting a...
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.