Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · NARMADA AGROBASE LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Fast Moving Consumer Goods › Fast Moving Consumer Goods › Food Products › Animal Feed
NARMADA AGROBASE LIMITED
StateQ1 FY27 filed
Last close · 28 Oct 2026₹11.17
Market cap₹0.0k cr
TTM P/E · P/B · EV/EBITDA— · — · —
Manufactures and sells cattle feed and cotton-based agro products on a B2B basis under the brands Gaay Chhaap, Narmada Super and Churma, and is ISO 9001-2015 certified. The business has been operating in livestock nutrition since 2013 and runs a manufacturing base with stated capacity of 4,000 tonnes per month, currently utilised at around 50%, with guidance to double utilisation in FY27. The product mix is centred on cattle feed alongside cotton seed products, with management flagging diversification into pelletized cattle feed and cotton seed oil. Customers are primarily B2B buyers in India's cattle and dairy value chain, and the company is expanding geographically into Maharashtra, Madhya Pradesh, Rajasthan and Punjab. Management has set a target for export revenue to reach 15-20% of turnover over the next three years, focusing on Southeast Asia, the Middle East and Africa for non-GMO feed solutions. Raw materials dominate the cost structure at 88% of revenue, with employees at 2%, other operating expenses at 4.5%, depreciation at 0.3% and capex at 0.2%. Q1 FY26 reported total income of Rs 11.41 crore, EBITDA of Rs 1.65 crore (14.47% margin) and PAT of Rs 1.02 crore. The company migrated from the NSE SME platform to the Main Board in March 2026 and adopted Ind AS accounting from April 2025. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cattle feed, Cotton seed products, Pelletized feed and other value-added products, Exports. Small-cap, B2B agro-processing business focused on cattle feed and cotton seed products, with a high raw-material cost structure.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, – (all audited; no estimate years)
₹ crore · consolidated
Revenue
EBITDA (ex other income)
margin %
Owners' profit
EPS, as reported (₹)
ROE % · ROCE %
Debt / equity (x)
Cash from operations
Capex
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · NARMADA AGROBASE LIMITED · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 1 quarters
₹ crore
Q1 FY27
Revenue
22
Profit before tax
1
Net profit
1
EPS (₹)
0.20
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
GODREJ AGROVET LIMITED
11,129
24.9
5.14
13.1
20.6
17.6
10.3
8.9
AVANTI FEEDS LIMITED
9,109
17.1
2.46
9.6
17.7
23.5
8.1
9.0
MUKKA PROTEINS LIMITED
733
10.6
1.39
10.4
10.8
12.8
—
10.1
KSE LTD.
568
0.8
1.63
—
24.0
30.5
—
(0.5)
SHIVAM CHEMICALS LIMITED
247
29.6
—
—
—
17.8
—
—
Mayank Cattle Food Limited
68
9.0
—
—
—
—
—
—
AJOONI BIOTECH LIMITED
51
12.3
0.56
—
4.7
6.2
—
3.1
NARMADA AGROBASE LIMITED ◆
42
55.9
—
—
—
—
—
5.5
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
55.9
14.7
8 of 8
0%
EBITDA margin
5.5
7.2
4 of 6
40%
Market cap
42
407
8 of 8
0%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · NARMADA AGROBASE LIMITED · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
26 Oct 2026 · Board to review September 2026 quarter and half-year results
results
low
—
—
3 Oct 2026 · Reg 74(5) certificate filed for Q2 FY27 demat and remat details
compliance
minimal
—
—
17 Aug 2026 · Narmada Agrobase Q1 FY27 Results Published in Financial Express
compliance
minimal
—
—
8 Aug 2026 · Narmada Agrobase gets order for 300 MT cotton seed
business updates
medium
—
—
6 Aug 2026 · Board meeting on 14 Aug 2026 to consider Q1 FY27 results
results
low
—
—
31 Jul 2026 · Postal Ballot: Rights Issue Funds Reallocation Approved
compliance
low
—
—
31 Jul 2026 · Postal Ballot Result: Rights Issue Object Change Approved
corporate actions
medium
—
—
25 Jul 2026 · Stock Split Record Date: 1 share of Rs 10 to split into 2 shares of Rs 5
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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More audited years; no estimates
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
