Micro Agriculture

Narmada Agrobase Ltd.

NARMADA

₹17.22

5.64% (0.92)

Market Cap

₹62 Cr.

P/E

15.15

Narmada Agrobase Ltd.
Overview
Financials
Benchmarking
Shareholding

Narmada Agrobase Ltd.

Narmada Agrobase Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Narmada Agrobase Ltd. Shareprice

Has the share price of Narmada Agrobase grown faster than its competition?

Narmada Agrobase has given better returns compared to its competitors.
Narmada Agrobase has grown at ~10.6% over the last 1yrs while peers have grown at a median rate of -27.0%

Is Narmada Agrobase stock expensive?

Narmada Agrobase is not expensive.
Latest PE of Narmada Agrobase is 15.15, while 3 year average PE is 39.64.
Also latest EV/EBITDA of Narmada Agrobase is 10.16 while 3yr average is 19.53.

View FAQ's On Business

Growth Table

Narmada Agrobase Ltd.
Simran Farms
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Vishwas Agri Seeds
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	10.17	8.02	0.07	12.67	6.91	13.90	7.97	—	—	—
TTM EPS CAGR	87.59	69.62	49.40	22.82	—	—	—	—	—	—
Sales CAGR	30.52	14.58	31.92	—	—	—	—	—	—	—
PAT Margin (Abs Growth)	0.72	0.29	0.85	0.75	0.98	0.95	1.14	1.25	1.26	0.95
PE CAGR	-44.08	-38.47	-34.54	-8.85	—	—	—	—	—	—
CFO CAGR	2,238	—	61.05	26.21	—	0.27	—	—	—	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Narmada Agrobase Ltd.
Simran Farms
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Vishwas Agri Seeds
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	10.72	13.67	14.44	23.58	24.27	26.92	26.50	27.32	27.96	66.47
Non Current Assets	3.84	4.22	4.34	5.76	5.62	5.16	4.69	4.02	3.41	7.72
Net Block	2.71	2.66	2.74	4.66	3.89	3.50	3.75	3.44	3.18	2.97
Capital Work in Progress	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02
Intangible Assets Under Development	—	—	—	—	—	—	—	—	—	—
Long Term Investments	0.21	0.43	0.47	0.61	0.33	0.33	33.30	0.00	0.00	—
Current Assets	6.87	9.45	10.07	17.70	18.28	21.49	21.80	23.27	24.54	58.75
Inventory	3.98	5.83	6.69	8.15	5.73	4.11	6.27	9.01	10.00	23.44
Accounts Receivable	2.23	3.01	3.15	7.55	11.35	16.22	14.41	13.22	13.32	19.06
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Cash & Bank Balances	0.24	0.07	0.13	1.23	0.52	0.45	0.65	0.55	0.77	14.80
Liabilities	10.72	13.67	14.44	23.58	24.27	26.92	26.50	27.32	27.96	66.46
Shareholders Funds	2.22	2.47	5.60	13.57	14.26	14.94	15.23	15.88	16.90	55.87
Share Capital	1.83	1.83	5.19	7.53	13.55	13.55	13.55	13.55	13.55	37.94
Reserves	0.39	0.64	0.42	6.04	0.71	1.39	1.68	2.33	3.35	17.93
Non Current Liabilities	4.01	4.35	1.46	1.22	0.95	1.00	0.04	0.56	0.10	1.14
Secured Loans	0.73	0.52	0.27	0.90	0.52	0.58	-0.00	—	—	—
Unsecured Loans	3.28	3.83	1.16	0.20	0.30	0.30	0.03	0.53	0.09	1.14
Current Liabilities	4.49	6.85	7.37	8.79	9.06	10.99	11.23	10.88	10.96	9.46
Accounts Payable	0.51	0.71	1.06	0.41	0.61	2.26	0.81	0.86	0.75	0.21
Short Term Loans	3.93	5.86	5.96	8.03	7.42	7.07	9.24	9.53	9.59	8.33

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Narmada Agrobase Ltd.
Simran Farms
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Vishwas Agri Seeds
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	30.69	34.43	37.06	47.50	61.58	58.26	34.97	50.03	50.32	65.68
Operating Expenses	29.51	33.01	35.49	45.87	59.13	56.05	32.98	48.01	47.80	60.10
Raw Material	26.80	30.03	32.09	45.67	54.51	50.31	29.67	43.29	43.53	54.38
Others	26.80	30.03	32.09	45.67	54.51	50.31	29.67	43.29	43.53	—
Material Cost (%)	86.96	87.18	87.15	89.03	89.82	89.31	84.27	86.57	85.67	84.33
Employee Cost	0.13	0.12	0.16	0.98	1.08	1.26	1.17	1.74	1.42	1.43
Power & Fuel Cost	0.45	0.45	0.59	0.61	0.62	0.66	0.54	0.61	0.72	—
Operating Profit	1.17	1.42	1.56	1.63	2.45	2.21	1.99	2.02	2.52	5.58
Other Income	0.02	0.03	0.07	0.28	0.03	0.08	0.06	0.05	0.07	0.66
OPM (%)	3.82	4.13	4.22	3.44	3.98	3.79	5.70	4.03	5.00	8.49
Depreciation and Amortisation	0.26	0.30	0.28	0.54	0.40	0.42	0.37	0.32	0.28	0.24
Interest	0.70	0.75	0.82	0.70	1.03	0.85	0.82	0.86	0.96	0.84
Profit Before Tax	0.24	0.40	0.54	0.67	1.05	1.01	0.87	0.89	1.35	5.16
Tax	0.00	0.10	0.14	0.17	0.27	0.33	0.26	0.24	0.33	1.07
Net Profit	0.24	0.30	0.40	0.50	0.79	0.68	0.61	0.65	1.02	4.09
Number of shares(Crs)	—	—	—	0.75	1.35	1.35	1.35	1.35	1.35	—
Dividend Payout Ratio(%)	0.00	0.00	0.00	15.20	0.00	0.00	0.00	0.00	0.00	—

TTM Values as of Mar 2025

Cash Flow

Narmada Agrobase Ltd.
Simran Farms
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Vishwas Agri Seeds
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	-0.52	-1.25	1.21	-5.10	0.49	0.30	-0.08	0.05	1.23	-15.93
Profit Before Tax	0.24	0.40	0.54	0.67	1.05	1.01	0.87	0.89	1.35	5.16
Adjustments	0.94	1.04	0.97	0.69	1.48	1.28	1.28	1.13	1.16	0.42
OCF Before Working Capital	1.18	1.44	1.51	1.36	2.53	2.29	2.15	2.02	2.52	5.58
Working Capital Changes	-1.66	-2.64	-0.15	-6.24	-1.96	-1.66	-1.89	-1.73	-1.07	-20.69
Taxes Paid	-0.03	-0.06	-0.14	-0.22	-0.09	-0.33	-0.35	-0.24	-0.21	-0.81
Cash from Investing Activity	-0.57	-0.44	-0.34	-2.32	0.46	0.04	0.06	0.37	0.35	-3.58
Net Fixed Assets Purchased	-0.59	-0.24	-0.37	-2.46	-0.13	-0.04	-0.00	0.00	-0.01	-0.05
Fixed Assets Purchased	-0.59	-0.24	-0.37	-2.46	-0.13	-0.04	-0.00	—	-0.01	-0.05
Fixed Assets Sold	—	—	—	—	—	—	—	—	—	—
Investment Purchased	-0.00	-0.21	-0.05	-0.14	-0.03	—	—	-0.00	—	—
Investment Sold	—	—	—	—	—	—	—	—	—	—
Interest Recieved	0.02	0.02	0.07	0.03	0.03	0.05	0.06	0.05	0.07	0.66
Dividends Recieved	—	—	—	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	1.12	1.52	-0.82	8.52	-1.94	-0.40	0.22	-0.52	-1.35	33.83
Proceeds From Shares	0.58	—	2.82	7.49	—	—	—	—	—	—
Net Long Term Borrowings	1.00	0.34	-2.92	-0.33	-0.21	0.06	-0.85	0.50	-0.44	1.05
Proceeds From Borrowings	1.00	0.34	—	—	—	0.06	—	0.50	—	—
Repayment From Borrowings	—	—	-2.92	-0.33	-0.21	—	-0.85	—	-0.44	1.05
Interest Paid	-0.70	-0.75	-0.82	-0.70	-1.03	-0.85	-0.81	-0.86	-0.96	-0.84
Dividend Paid	—	—	—	—	-0.07	—	—	—	—	—
Net Cash Flow	0.02	-0.17	0.05	1.11	-1.00	-0.07	0.20	-0.10	0.23	14.32
Opening Cash & Cash Equivalents	0.22	0.24	0.07	0.13	1.52	0.52	0.45	0.65	0.55	0.48
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	0.24	0.07	0.13	1.23	0.52	0.45	0.65	0.55	0.78	14.80
Net Capex (est)	0.59	0.24	0.37	2.46	0.13	0.04	0.00	0.00	0.01	0.05
Free Cash Flow (est)	-1.11	-1.50	0.85	-7.56	0.36	0.26	-0.09	0.05	1.22	-15.98

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Narmada Agrobase Ltd.
Simran Farms
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Vishwas Agri Seeds
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	0.51	0.64	0.53	0.46	1.09	1.38	1.58	1.38	1.31	1.33
Liquid Assets (Crs)	2.29	2.88	3.63	3.38	9.54	12.54	17.38	15.53	14.26	14.54
Current Liabilities (Crs)	4.51	4.49	6.85	7.37	8.79	9.06	10.99	11.23	10.88	10.96
Current Ratio	1.33	1.53	1.38	1.37	2.01	2.02	1.96	1.94	2.14	2.24
Current Assets (Crs)	5.99	6.87	9.45	10.07	17.70	18.28	21.49	21.80	23.27	24.54
Current Liabilities (Crs)	4.51	4.49	6.85	7.37	8.79	9.06	10.99	11.23	10.88	10.96
Interest Coverage Ratio	1.40	1.34	1.54	1.65	1.95	2.03	2.18	2.07	2.03	2.41
EBIT (Crs)	0.60	0.93	1.16	1.35	1.37	2.08	1.86	1.69	1.75	2.31
Interest Expenses (Crs)	0.43	0.70	0.75	0.82	0.70	1.03	0.85	0.82	0.86	0.96
Fixed Asset Turnover	8.23	9.40	9.81	9.56	7.50	10.33	9.71	5.28	7.56	7.59
Net Sales (Crs)	22.02	30.69	34.43	37.06	47.50	61.58	58.26	34.97	50.03	50.32
Fixed Assets (Crs)	2.68	3.27	3.51	3.87	6.33	5.96	6.00	6.62	6.62	6.63
Cash Conversion Cycle	53.71	62.52	72.27	81.99	91.82	93.81	107	195	150	158
Inventory Days	40.91	45.66	51.98	61.65	57.03	41.15	30.85	54.16	55.75	68.96
Days Receivable	19.30	24.03	27.77	30.34	41.11	56.02	86.37	160	101	96.27
Days Payable	6.50	7.17	7.47	10.00	6.31	3.36	10.07	19.05	7.05	6.81
Debt to Equity Ratio	4.65	3.57	4.13	1.32	0.67	0.59	0.58	0.64	0.63	0.57
Total Debt (Crs)	6.70	7.94	10.21	7.39	9.13	8.44	8.69	9.73	10.07	9.68
Shareholders Equity (Crs)	1.44	2.22	2.47	5.60	13.57	14.26	14.94	15.23	15.88	16.90
Free Cash Flow/Sales (%)	-11.36	-3.62	-4.34	2.29	-15.91	0.58	0.45	-0.24	0.11	2.43
Free Cash Flow(est) (Crs)	-2.50	-1.11	-1.50	0.85	-7.56	0.36	0.26	-0.09	0.05	1.22
Net Sales (Crs)	22.02	30.69	34.43	37.06	47.50	61.58	58.26	34.97	50.03	50.32
Profitability Ratios
Gross Margin (%)	16.65	13.04	12.82	12.85	10.97	10.18	10.69	15.73	13.43	14.33
Op Profit Margin (%)	3.82	3.82	4.13	4.22	3.44	3.98	3.79	5.70	4.03	5.00
Operating Profit (Crs)	0.86	1.19	1.45	1.64	1.92	2.48	2.28	2.05	2.07	2.59
Net Sales (Crs)	22.02	30.69	34.43	37.06	47.50	61.58	58.26	34.97	50.03	50.32
Net Profit Margin (%)	0.77	0.77	0.89	1.07	1.04	1.28	1.17	1.74	1.30	2.03
Net Profit (Crs)	0.17	0.24	0.30	0.40	0.50	0.79	0.68	0.61	0.65	1.02
Net Sales (Crs)	22.02	30.69	34.43	37.06	47.50	61.58	58.26	34.97	50.03	50.32
ROCE (%)	13.44	14.97	16.96	19.16	9.28	13.68	11.68	11.05	10.66	13.61
EBIT (Crs)	0.60	0.93	1.16	1.35	1.37	2.08	1.86	1.69	1.75	2.31
Capital Employed (Crs)	4.45	6.23	6.82	7.06	14.79	15.21	15.93	15.27	16.44	17.00
Return on Assets (%)	1.89	2.22	2.23	2.76	2.10	3.25	2.54	2.29	2.39	3.65
Net Profit (Crs)	0.17	0.24	0.30	0.40	0.50	0.79	0.68	0.61	0.65	1.02
Total Assets (Crs)	8.96	10.72	13.67	14.44	23.58	24.27	26.92	26.50	27.32	27.96
ROIC (%)	15.88	18.84	16.30	17.93	6.54	12.18	8.93	8.29	8.16	10.57
Op Profit after Taxes (Crs)	0.58	0.91	0.85	0.95	0.81	1.53	1.21	1.13	1.25	1.69
Invested Capital (Crs)	3.64	4.85	5.19	5.31	12.33	12.58	13.55	13.67	15.28	15.98
ROE (%)	11.74	10.70	12.33	7.10	3.65	5.53	4.57	3.99	4.11	6.03
Net Profit Margin (%)	0.77	0.77	0.89	1.07	1.04	1.28	1.17	1.74	1.30	2.03
Asset Turnover ratio	2.46	2.86	2.52	2.57	2.01	2.54	2.16	1.32	1.83	1.80
Equity Multiplier	6.21	4.82	5.53	2.58	1.74	1.70	1.80	1.74	1.72	1.65
Adjusted EPS	0.29	0.28	0.36	0.32	0.28	0.44	0.38	0.34	0.36	0.57
Valuation Ratios
P/E	0.00	0.00	0.00	0.00	26.73	20.30	20.24	44.60	47.63	27.02
Price to Book	0.00	0.00	0.00	0.00	0.98	1.14	0.94	1.78	1.96	1.63
EV/EBITDA	8.99	7.99	8.23	7.61	11.00	9.60	9.64	17.55	19.62	14.08
Dividend Yield (%)	—	—	—	—	0.57	0.00	0.00	0.00	0.00	0.00

Quarterly Results

Narmada Agrobase Ltd.
Simran Farms
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Vishwas Agri Seeds
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	10.62	18.26	7.95	11.41	12.22	18.75	12.26	10.28	13.84	29.30
Operating Expenses	10.06	17.81	7.50	10.94	11.77	17.60	10.68	8.21	12.50	28.71
Increase/Decrease in Stock	-0.30	-0.04	0.07	0.21	-0.01	-0.69	0.42	0.10	-0.27	0.77
Raw Material	9.38	16.60	6.30	9.84	10.38	17.01	9.12	7.12	11.68	26.46
Employee Cost	0.35	0.36	0.36	0.29	0.36	0.41	0.34	0.34	0.35	0.41
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	0.56	0.45	0.45	0.47	0.45	1.15	1.58	2.07	1.34	0.59
Other Income	0.01	0.01	0.01	0.04	0.02	0.00	0.01	0.01	0.32	0.32
Interest	0.22	0.25	0.23	0.23	0.23	0.26	0.24	0.24	0.21	0.16
PBDT	0.35	0.21	0.23	0.27	0.24	0.89	1.35	1.84	1.45	0.75
Depreciation and Amortization	0.08	0.08	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.06
Profit Before Tax	0.27	0.13	0.16	0.20	0.17	0.82	1.29	1.78	1.39	0.69
Tax	0.07	0.04	0.05	0.03	0.04	0.21	0.28	0.49	0.39	-0.09
Profit After Tax	0.20	0.10	0.11	0.17	0.13	0.61	1.02	1.29	1.00	0.78
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	0.20	0.10	0.11	0.17	0.13	0.61	1.02	1.29	1.00	0.78
Quarterly Ratios
EPS	0.11	0.05	0.06	0.09	0.07	0.34	0.57	0.95	0.26	0.21
Operating Profit Margin	5.26	2.49	5.66	4.11	3.67	6.13	12.89	20.11	9.67	2.01
Net Profit Margin	1.87	0.54	1.40	1.49	1.05	3.25	8.29	12.57	7.22	2.66

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

18.70%

Implied Growth Rate over a 5 year period*

4.50%

Implied Growth Rate over a 10 year period*

0.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Narmada Agrobase Ltd. Financials

How strong is Narmada Agrobase balance sheet?

Balance sheet of Narmada Agrobase is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of Narmada Agrobase increasing or decreasing?

The net debt of Narmada Agrobase is decreasing.
Latest net debt of Narmada Agrobase is -₹5.34 Crs as of Mar-25.
This is less than Mar-24 when it was ₹8.6 Crs.

Is the profitablity of Narmada Agrobase improving?

Yes, profit is increasing.
The profit of Narmada Agrobase is ₹4.09 Crs for TTM, ₹1.02 Crs for Mar 2024 and ₹0.65 Crs for Mar 2023.

Does Narmada Agrobase pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Narmada Agrobase latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

How has Narmada Agrobase allocated its funds?

Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments, Inventory

View FAQ's On Shareholding

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Narmada Agrobase Ltd.

Narmada Agrobase Ltd.

Has the share price of Narmada Agrobase grown faster than its competition?

Is Narmada Agrobase stock expensive?

How strong is Narmada Agrobase balance sheet?

Is the debt of Narmada Agrobase increasing or decreasing?

Is the profitablity of Narmada Agrobase improving?

Does Narmada Agrobase pay decent dividends?

How has Narmada Agrobase allocated its funds?

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