Reported Earnings • May 27
Full year 2026 earnings released: EPS: ₹52.05 (vs ₹29.80 in FY 2025) Full year 2026 results: EPS: ₹52.05 (up from ₹29.80 in FY 2025). Revenue: ₹2.16b (up 14% from FY 2025). Net income: ₹314.9m (up 75% from FY 2025). Profit margin: 15% (up from 9.5% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 19% per year. Announcement • May 26
Narmada Gelatines Limited announces Annual dividend, payable on September 18, 2026 Narmada Gelatines Limited announced Annual dividend of INR 11.0000 per share payable on September 18, 2026, ex-date on August 12, 2026 and record date on August 12, 2026. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹487, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 72% over the past three years. Announcement • May 25
Narmada Gelatines Limited, Annual General Meeting, Aug 19, 2026 Narmada Gelatines Limited, Annual General Meeting, Aug 19, 2026. Announcement • May 18
Narmada Gelatines Limited to Report Q4, 2026 Results on May 25, 2026 Narmada Gelatines Limited announced that they will report Q4, 2026 results on May 25, 2026 Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: ₹13.89 (vs ₹7.31 in 3Q 2025) Third quarter 2026 results: EPS: ₹13.89 (up from ₹7.31 in 3Q 2025). Revenue: ₹567.8m (up 18% from 3Q 2025). Net income: ₹84.0m (up 90% from 3Q 2025). Profit margin: 15% (up from 9.2% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 04
Narmada Gelatines Limited to Report Q3, 2026 Results on Feb 12, 2026 Narmada Gelatines Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 12, 2026 Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹11.39 (vs ₹6.32 in 2Q 2025) Second quarter 2026 results: EPS: ₹11.39 (up from ₹6.32 in 2Q 2025). Revenue: ₹512.6m (up 7.0% from 2Q 2025). Net income: ₹68.9m (up 80% from 2Q 2025). Profit margin: 13% (up from 8.0% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Buy Or Sell Opportunity • Nov 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to ₹389. The fair value is estimated to be ₹320, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has grown by 12%. Announcement • Nov 04
Narmada Gelatines Limited to Report Q2, 2026 Results on Nov 12, 2025 Narmada Gelatines Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Upcoming Dividend • Sep 11
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 15 September 2025. Payment date: 22 October 2025. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 2.6%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Buy Or Sell Opportunity • Sep 03
Now 21% overvalued Over the last 90 days, the stock has fallen 3.3% to ₹379. The fair value is estimated to be ₹314, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has grown by 12%. Declared Dividend • Aug 27
Dividend of ₹10.00 announced Dividend of ₹10.00 is the same as last year. Ex-date: 15th September 2025 Payment date: 22nd October 2025 Dividend yield will be 2.8%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (259% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 9.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 25
Narmada Gelatines Limited, Annual General Meeting, Sep 22, 2025 Narmada Gelatines Limited, Annual General Meeting, Sep 22, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: ₹9.89 (vs ₹6.61 in 1Q 2025) First quarter 2026 results: EPS: ₹9.89 (up from ₹6.61 in 1Q 2025). Revenue: ₹458.1m (up 6.0% from 1Q 2025). Net income: ₹59.8m (up 50% from 1Q 2025). Profit margin: 13% (up from 9.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 28
Full year 2025 earnings released: EPS: ₹25.34 (vs ₹25.34 in FY 2024) Full year 2025 results: EPS: ₹25.34 (in line with FY 2024). Revenue: ₹1.91b (up 4.8% from FY 2024). Net income: ₹180.2m (up 18% from FY 2024). Profit margin: 9.5% (up from 8.4% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 16
Narmada Gelatines Limited to Report Q4, 2025 Results on May 24, 2025 Narmada Gelatines Limited announced that they will report Q4, 2025 results at 9:15 AM, Indian Standard Time on May 24, 2025 Announcement • Feb 28
Narmada Gelatines Limited Appoints Arun Jaiswal as CFO, Effective March 15, 2025 Narmada Gelatines Limited at its Board of Directors meeting held on February 28, 2025, has announced the appointment of Mr. Arun Jaiswal as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company. This appointment will be effective from March 15, 2025. Announcement • Feb 05
Narmada Gelatines Limited to Report Q3, 2025 Results on Feb 12, 2025 Narmada Gelatines Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Announcement • Jan 08
Narmada Gelatines Limited Announces Resignation of Mahesh Verma as Chief Financial Officer Narmada Gelatines Limited announced that Mr. Mahesh Verma has resigned due to his personal reasons and is going to relieved from his responsibilities as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company with effect from the closure of business hours of 07 January 2025. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹428, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 34x in the Chemicals industry in India. Total returns to shareholders of 215% over the past three years. Reported Earnings • Nov 05
Second quarter 2025 earnings released: EPS: ₹6.32 (vs ₹4.41 in 2Q 2024) Second quarter 2025 results: EPS: ₹6.32 (up from ₹4.41 in 2Q 2024). Revenue: ₹486.8m (up 17% from 2Q 2024). Net income: ₹38.3m (up 43% from 2Q 2024). Profit margin: 7.9% (up from 6.4% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 26
Narmada Gelatines Limited to Report Q2, 2025 Results on Nov 04, 2024 Narmada Gelatines Limited announced that they will report Q2, 2025 results on Nov 04, 2024 Announcement • Sep 24
Narmada Gelatines Limited Approves Dividend for the Financial Year Ended 31 March, 2024 Narmada Gelatines Limited at its AGM held on September 24, 2024, approved to declare dividend @ 100% i.e. INR 10.00 per Equity Share of INR 10.00 each fully paid-up, in respect of the financial year ended 31 March, 2024. Upcoming Dividend • Sep 10
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 17 September 2024. Payment date: 24 October 2024. Trailing yield: 2.5%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.6%). Announcement • Aug 27
Narmada Gelatines Limited, Annual General Meeting, Sep 24, 2024 Narmada Gelatines Limited, Annual General Meeting, Sep 24, 2024, at 12:00 Indian Standard Time. Location: hotel narmada jacksons, south civil lines, jabalpur-482001 (mp), jabalpur India Announcement • Jul 31
Narmada Gelatines Limited to Report Q1, 2025 Results on Aug 07, 2024 Narmada Gelatines Limited announced that they will report Q1, 2025 results on Aug 07, 2024 Buy Or Sell Opportunity • May 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.6% to ₹378. The fair value is estimated to be ₹475, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 25%. Buy Or Sell Opportunity • Apr 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to ₹379. The fair value is estimated to be ₹476, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 25%. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹385, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 232% over the past three years. Buy Or Sell Opportunity • Mar 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to ₹374. The fair value is estimated to be ₹472, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 25%. Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: ₹5.66 (vs ₹9.32 in 3Q 2023) Third quarter 2024 results: EPS: ₹5.66 (down from ₹9.32 in 3Q 2023). Revenue: ₹475.3m (down 7.8% from 3Q 2023). Net income: ₹34.2m (down 39% from 3Q 2023). Profit margin: 7.2% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jan 09
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ₹546, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 25%. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹4.41 (vs ₹4.69 in 2Q 2023) Second quarter 2024 results: EPS: ₹4.41 (down from ₹4.69 in 2Q 2023). Revenue: ₹419.8m (down 9.5% from 2Q 2023). Net income: ₹26.7m (down 6.0% from 2Q 2023). Profit margin: 6.4% (up from 6.1% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 16
Narmada Gelatines Limited, Annual General Meeting, Sep 25, 2023 Narmada Gelatines Limited, Annual General Meeting, Sep 25, 2023. Agenda: To consider re-designation of Ashok K. Kapur from Whole Time Director to Managing Director of the Company. Announcement • Aug 08
Narmada Gelatines Limited to Report Q1, 2024 Results on Aug 14, 2023 Narmada Gelatines Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹493, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 24x in the Chemicals industry in India. Total returns to shareholders of 305% over the past three years. Board Change • Aug 05
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. CEO & Whole Time Director Ashok Kapur is the most experienced director on the board, commencing their role in 2009. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 20
High number of new directors Additional Non-Executive Non-Independent Director S. Annamalai was the last director to join the board, commencing their role in 2023. New Risk • Jun 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (₹2.56b market cap, or US$31.1m). Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹376, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 262% over the past three years. Reported Earnings • May 22
Full year 2023 earnings released: EPS: ₹25.26 (vs ₹20.40 in FY 2022) Full year 2023 results: EPS: ₹25.26 (up from ₹20.40 in FY 2022). Revenue: ₹1.93b (up 23% from FY 2022). Net income: ₹152.8m (up 24% from FY 2022). Profit margin: 7.9% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 14
Second quarter 2023 earnings released: EPS: ₹4.69 (vs ₹2.03 in 2Q 2022) Second quarter 2023 results: EPS: ₹4.69 (up from ₹2.03 in 2Q 2022). Revenue: ₹463.8m (up 32% from 2Q 2022). Net income: ₹28.4m (up 131% from 2Q 2022). Profit margin: 6.1% (up from 3.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹304, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 178% over the past three years. Announcement • Feb 02
Narmada Gelatines Limited to Report Q3, 2023 Results on Feb 10, 2023 Narmada Gelatines Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorated over the past week After last week's 23% share price decline to ₹343, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 208% over the past three years. Upcoming Dividend • Dec 12
Upcoming dividend of ₹100.00 per share Eligible shareholders must have bought the stock before 19 December 2022. Payment date: 06 January 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.4%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.7%). Announcement • Dec 08
Narmada Gelatines Limited Declares Special Interim Dividend The Board of Directors of Narmada Gelatines Limited at their meeting held on 7th December, 2022 declared a Special Interim Dividend of INR 100 per equity share (i.e. 1000%) of the face value of INR 10 each fully paid up, for the Financial Year 2022-23. The said dividend of INR 100 per equity share shall be paid to the eligible shareholders of the company within 30 days from the date of declaration. The record date of dividend is 15th December, 2022. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹267, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 97% over the past three years. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹4.69 (vs ₹2.03 in 2Q 2022) Second quarter 2023 results: EPS: ₹4.69 (up from ₹2.03 in 2Q 2022). Revenue: ₹475.6m (up 35% from 2Q 2022). Net income: ₹28.4m (up 131% from 2Q 2022). Profit margin: 6.0% (up from 3.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: ₹4.69 (vs ₹2.03 in 2Q 2022) Second quarter 2023 results: EPS: ₹4.69 (up from ₹2.03 in 2Q 2022). Revenue: ₹475.6m (up 35% from 2Q 2022). Net income: ₹28.4m (up 131% from 2Q 2022). Profit margin: 6.0% (up from 3.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Nov 03
Narmada Gelatines Limited to Report Q2, 2023 Results on Nov 10, 2022 Narmada Gelatines Limited announced that they will report Q2, 2023 results on Nov 10, 2022 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹212, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 59% over the past three years. Upcoming Dividend • Sep 07
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 22 October 2022. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (0.7%). Announcement • Aug 26
Narmada Gelatines Limited, Annual General Meeting, Sep 22, 2022 Narmada Gelatines Limited, Annual General Meeting, Sep 22, 2022, at 12:00 Indian Standard Time. Location: Hotel Narmada,Jacksons, South Civil Lines, Jabalpur Madhya Pradesh India Agenda: To consider and adopt the audited Financial Statements, Reports of the Board of Directors and Auditors; to declare dividend on equity shares; to appoint Mrs. Drushti Desai (DIN: 00294249) as a Director liable to retire by rotation; to re-appoint Lodha & Co., Chartered Accountants (Firm Regn. No. 301051E ) as the Statutory Auditors of the Company ; and to consider other matters. Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹3.64 (vs ₹5.33 in 1Q 2022) First quarter 2023 results: EPS: ₹3.64 (down from ₹5.33 in 1Q 2022). Revenue: ₹432.4m (up 16% from 1Q 2022). Net income: ₹22.0m (down 32% from 1Q 2022). Profit margin: 5.1% (down from 8.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Aug 03
Narmada Gelatines Limited to Report Q1, 2023 Results on Aug 10, 2022 Narmada Gelatines Limited announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 31
Full year 2022 earnings released: EPS: ₹20.41 (vs ₹13.98 in FY 2021) Full year 2022 results: EPS: ₹20.41 (up from ₹13.98 in FY 2021). Revenue: ₹1.61b (up 19% from FY 2021). Net income: ₹123.5m (up 46% from FY 2021). Profit margin: 7.7% (up from 6.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 21
Narmada Gelatines Limited to Report Q4, 2022 Results on May 27, 2022 Narmada Gelatines Limited announced that they will report Q4, 2022 results on May 27, 2022 Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹7.27 (up from ₹3.02 in 3Q 2021). Revenue: ₹435.0m (up 13% from 3Q 2021). Net income: ₹44.0m (up 140% from 3Q 2021). Profit margin: 10% (up from 4.8% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 17% share price gain to ₹224, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 135% over the past three years. Announcement • Feb 03
Narmada Gelatines Limited to Report Q3, 2022 Results on Feb 10, 2022 Narmada Gelatines Limited announced that they will report Q3, 2022 results on Feb 10, 2022 Board Change • Oct 21
High number of new directors Chairman of the Board Prakash Nene was the last director to join the board, commencing their role in 2021. Executive Departure • Oct 03
Non-Executive Independent Director Mohan Pant has left the company On the 21st of September, Mohan Pant's tenure as Non-Executive Independent Director ended after 15.0 years in the role. We don't have any record of a personal shareholding under Mohan's name. A total of 3 executives have left over the last 12 months. Executive Departure • Oct 03
Independent Chairman of the Board Deepak Chaudhuri has left the company On the 21st of September, Deepak Chaudhuri's tenure as Independent Chairman of the Board ended after less than a year in the role. As of June 2021, Deepak still personally held only 50.00 shares (₹9.1k worth at the time). A total of 3 executives have left over the last 12 months. Board Change • Sep 26
High number of new directors Non-Executive Independent Director Prakash Nene was the last director to join the board, commencing their role in 2021. Executive Departure • Sep 25
Independent Chairman of the Board Deepak Chaudhuri has left the company On the 21st of September, Deepak Chaudhuri's tenure as Independent Chairman of the Board ended after less than a year in the role. As of June 2021, Deepak still personally held only 50.00 shares (₹9.1k worth at the time). A total of 3 executives have left over the last 12 months. Executive Departure • Sep 25
Non-Executive Independent Director Mohan Pant has left the company On the 21st of September, Mohan Pant's tenure as Non-Executive Independent Director ended after 15.0 years in the role. We don't have any record of a personal shareholding under Mohan's name. A total of 3 executives have left over the last 12 months. Upcoming Dividend • Sep 06
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 13 September 2021. Payment date: 21 October 2021. Trailing yield: 4.6%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.7%). Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS ₹5.33 (vs ₹5.55 in 1Q 2021) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: ₹382.6m (up 49% from 1Q 2021). Net income: ₹32.2m (down 4.2% from 1Q 2021). Profit margin: 8.4% (down from 13% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 21% share price gain to ₹241, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 96% over the past three years. Reported Earnings • Jul 04
Full year 2021 earnings released: EPS ₹13.97 (vs ₹21.29 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: ₹1.40b (up 4.5% from FY 2020). Net income: ₹84.5m (down 34% from FY 2020). Profit margin: 6.0% (down from 9.6% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Executive Departure • Apr 15
Non-Executive Independent Director has left the company On the 7th of April, Gulab Gupta's tenure as Non-Executive Independent Director ended after 14.5 years in the role. We don't have any record of a personal shareholding under Gulab's name. Gulab is the only executive to leave the company over the last 12 months. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS ₹3.02 (vs ₹3.44 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ₹400.6m (up 23% from 3Q 2020). Net income: ₹18.3m (down 12% from 3Q 2020). Profit margin: 4.6% (down from 6.4% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 05
Narmada Gelatines Limited to Report Q3, 2021 Results on Feb 11, 2021 Narmada Gelatines Limited announced that they will report Q3, 2021 results on Feb 11, 2021 Is New 90 Day High Low • Jan 27
New 90-day low: ₹151 The company is down 8.0% from its price of ₹164 on 29 October 2020. The Indian market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 11
New 90-day low: ₹157 The company is down 7.0% from its price of ₹170 on 13 August 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Announcement • Nov 05
Narmada Gelatines Limited to Report Q2, 2021 Results on Nov 11, 2020 Narmada Gelatines Limited announced that they will report Q2, 2021 results on Nov 11, 2020 Reported Earnings • Sep 18
First quarter earnings released Over the last 12 months the company has reported total profits of ₹125.8m, largely unchanged from the prior year. Total revenue was ₹1.26b over the last 12 months, down 2.4% from the prior year. Announcement • Sep 06
Narmada Gelatines Limited to Report Q1, 2021 Results on Sep 14, 2020 Narmada Gelatines Limited announced that they will report Q1, 2021 results on Sep 14, 2020 
